UFA Co-operative Limited

UFA Co-operative Limited

March 18, 2013 11:00 ET

UFA Focuses on Members as They Announce 'Brighter Shade of Orange' Year

15% Increase Year Over Year in EBITDA

CALGARY, ALBERTA--(Marketwire - March 18, 2013) - Today UFA Co-operative Limited, a leading agricultural co-operative with close to 120,000 members, announced results for its 2012 fiscal year. Following on the turnaround in 2011, UFA again delivered surplus earnings and an increased patronage allocation to members.

Revenues were $2,126.6 billion, slightly up from $2,105.8 billion in 2011. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 15% year over year to $65.6 million compared with $57.2 million in 2011. A patronage allocation in the amount of $10.0 million for 2012 was recommended by the Board of Directors and ratified by the assembly at the UFA Annual General Meeting in Calgary, March 13 – 14.

"Over the past few years we have worked hard at re-building the foundation of our proud co-operative," said Bob Nelson, President and CEO, UFA Co-operative Limited. "The progress we've made can be seen in our financial results and has enabled us to increase our patronage by more than 40% over 2011. Given our journey, we are exceptionally proud of our success and confident about our future. We are exactly where we said we would be and have met every commitment we made two years ago in our strategic plan."

"Our story this year is one of progress and planning," stated Jim Laverick, Chairman of the Board. "Our co-operative continues to strengthen and be reinforced. We have re-focused on our core and remain steadfastly attentive to the needs of our membership. Agriculture isn't a job – it's a passion and it's a way of life. It's an industry that matters. At UFA, we understand that and every decision we are making as we move forward has our membership at the heart of it. As one of our board members recently said, 'we have dirt in our veins.'"

UFA is one of Alberta's oldest co-operatives and is identified in the rural landscape by their extensive orange-hued network of Farm & Ranch Supply stores, Petroleum agencies and Cardlocks. A video tribute titled, "A Life out Here" was launched at the UFA AGM March 13, 2013 and celebrates the life, the work, the pride and the passion UFA members have for farming, ranching and rural life.

Earlier this year, UFA announced the planned divestment of their U.S. Wholesale Sports network to Sportsman's Warehouse and Alamo Group. The transaction closed March 11, 2013. UFA will continue to own, operate and grow the Canadian Wholesale Sports network.

"Our Canadian Wholesale Sports stores have been profitable and strong arm of our diversified strategy," stated Nelson. "Re-focusing on Canada benefits our members and supports our co-operative. We are very excited about the future for both UFA and Wholesale Sports Canada. It is definitely a brighter shade of orange for UFA."

Further information regarding financial results can be found at UFA.com/2012AnnualReport.

UFA Co-operative Limited is one of Alberta's most dynamic enterprises. UFA has an unmatched network of more than 110 bulk fuel and cardlock Petroleum locations, 35 Farm & Ranch Supply stores and 11 Wholesale Sports Outdoor Outfitter stores. Our employees and independent Petroleum agents strive to provide products, services and solutions to farmers, ranchers, consumers and commercial members and customers in Alberta, British Columbia and Saskatchewan.

Since its founding in 1909, UFA has grown from a small-scale local co-operative into a comprehensive enterprise with $2.1 billion in annual sales and over 120,000 members. While UFA has grown and changed over the years, at our heart remains a commitment to agriculture and to the communities we serve.

Contact Information

  • UFA Co-operative Limited - Media Inquiries
    Amanda Bates
    Director, Communications and Brand
    403-570-4169 or Cell: 403-819-4462
    Amanda.Bates@ufa.com
    www.ufa.com