FCL reports $12.5 billion in sales for 2022

Federated Co-operatives Limited (FCL) reported sales of $12.5 billion in 2022, up 38% from $9.1 billion in 2021.

Net earnings for the year totaled $411 million, allowing FCL to return a $348 million patronage allocation to local Co-ops.  

FCL released its 2022 financial results at the company’s 94th Annual Meeting, which was attended by delegates representing local co-operative associations from across Western Canada. 

The group also discussed the Co-operative Retailing System’s future, and elected FCL’s Board of Directors.

There are currently more than two million Co-op members across Western Canada.

“This year we worked to continue to meet the needs of our Co-op members, enhance their member experience, and position our organization for the future,” said CEO Heather Ryan. “For example, finalizing the acquisition of 171 Husky retail sites allows us to serve new communities and acquire new Co-op members, while investments in renewable fuels, agriculture and carbon capture represents our continued commitment to a sustainable tomorrow.”