Federated Cooperatives Limited says it has successfully navigated changing market conditions and the pandemic, to improve its financial results in 2021.

FCL recorded nearly $9.1 billion in revenue and $495 million in earnings for the financial year ending Oct. 31, 2021. That is up from $7.9 billion in revenue and $177 million in earnings in 2020. From its earnings, FCL will return $353.5 million to local Co-ops across Western Canada.

FCL’s CEO says there’s been a lot of change and uncertainty in the last year, including the pandemic, global supply chain issues and distressing weather conditions across the Prairies

Scott Banda says, “It’s remarkable how the Co-operative Retailing System continues adapting to ever-evolving circumstances to remain steadfast supporters of Western Canadian communities that Co-op members can depend on.”

FCL experienced a record year for sales in its fertilizer, crop protection, seed, and home and building solutions business lines. The company describes the food and energy sectors as showing strong performance.

In the past year FCL expanded its fertilizer terminal in Brandon, Manitoba, launched the new Western Nations brand for Indigenous owned and operated gas bars, with the first location opening in Prince Albert which is a partnership between Lake Country Co-op and Sturgeon Lake First Nation.

FCL also committed to reducing greenhouse gas emissions which included a pledge to invest in carbon-capture technology at the Co-op Refinery Complex and Co-op Ethanol Complex.