Federated Co-operatives Limited experienced a record year in 2021 for sales in its fertilizer, crop protection, seed, and home and building solutions business lines, with strong performances as well in food and energy.

Co-op members heard from FCL’s CEO at the Annual General Meeting that although there was a pandemic and severe weather events, including a drought on the Prairies, the Co-operative experienced a significant financial turnaround.

Banda cites nearly $9.1-billion in revenue, compared to $7.9-billion in 2020, and $495-million in earnings for the financial year that ended October 31st, compared to $177-million the previous year. FCL will return $353-million to local Co-ops across Western Canada.

He stated that one of the highlights of last year was the finalization of the company’s energy roadmap, which includes three carbon capture use and storage projects, the Husky acquisition, and the integrated Ag Complex which includes a renewable diesel plant and a canola crushing plant.

Banda says this roadmap was years in the making. The CEO told members FCL now has a “seed to tank” strategy which will work in tandem with its “farm to fork” strategy. Banda officially retires on May 6th. He was appointed CEO in 2010.