Annual Report 2019

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ABOUT FCL

Federated Co-operatives Limited (FCL) is a diverse business operating in the agriculture, food, energy and building sectors. Based in Saskatoon, Sask., FCL is owned by independent retail co-operatives from across Western Canada. FCL is involved in wholesaling and manufacturing, including refined fuels and lubricants. It also provides administrative and marketing support to its member-owners.

The Co-operative Retailing System is built on the foundation of working together. History has shown our Federation is able to succeed and grow - to the benefit of our communities – when we are united.

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FINANCIAL HIGHLIGHTS

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PRESIDENT'S MESSAGE

As the first woman to hold this position, I have been encouraged by the positive reception across our Federation and throughout the Co-op family....As we move into a new decade of opportunities and challenges, we are committed to discovering, developing and supporting the next generation of co-operative leaders.

Sharon Alford

President / Chair of the Board

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CEO'S MESSAGE

Although FCL's overall sales and profitability were down in 2019 from the record year of 2018, this past year saw us achieve our second-highest levels of earning ever. While we have been able to benefit from favourable market conditions in our energy business over the past two years, we saw market conditions return to normal in the fourth quarter. We expect this situation to continue going forward.

Scott Banda

Chief Executive Officer

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OUR PROFITS STAY LOCAL

Over the last five years, FCL has made patronage allocations of nearly $2.6 billion and share redemptions of nearly $2.3 billion in cash to its member-owners.

Every dollar of our profits stays right here to support Western Canadians and make a difference where we live and work. That's something we can all be proud of.

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A YEAR IN REVIEW

FCL invests $500K to bring Sask. food to market

October 4, 2019

Federated Co-operatives Limited (FCL) is celebrating Agriculture Month in Saskatchewan with support for the growing food manufacturing industry in the province.

Food