Update: October 2015

 

As always, we appreciate our customers who bring purpose to our cooperative, our directors who give us vision and governance, and our employees who take pride in serving our customers the 'AGRILAND FS way'.   

                                                                                                                            - John Knobloch, General Manager

 

The 2014-15 fiscal year proved to be a transitional year for agriculture producers and your cooperative AGRILAND FS.  Row crop farmers transitioned from extremely strong returns per acre to lower or negative returns.  AGRILAND FS transitioned to lower financial returns, as growers reduced plant food purchases and planted fewer corn acres.  On the flip side, we achieved record grain system, feed, diesel, gasoline and lubricant volumes.

 

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​During the fiscal year, AGRILAND FS invested $16 million in new facilities and rolling stock to serve our customers. These projects included:
 
 
Fairfield, IA
Warehouse and shop
 
 
Griswold, IA
New office
 
 
Harlan, IA
Seed warehouse, chemical building & petroleum bulk plant
 
 
Malvern, IA
Shop and seed warehouse
 
 
Middletown, IA
Propane storage facility, office and shop
 
 
Missouri Valley IA
Warehouse, shop and office
 
 
Moorhead,IA
New NH3 facility
 
 
Moravia, IA
Office, warehouse, and dry plant food building


Our investment​s in the 2015-16 fiscal year will feature the following...

Harlan, IA
New FAST STOP® Express
 
 
 
Knoxville, IA
New dry plant food building & relocation of propane storage
 

 
​​Nodaway, IA
New petroleum bulk plant
 
 
 
Oskaloosa, IA
Upgrades to feed mill

Fiscal Year End, August 31, 2015
INCOME STATEMENT
Sales
$290,785,752
Operating Revenue
$56,537,505
Operating Expense
$46,013,891
Operating Income
$10,523,614
Other Income-Net
$9,602,090
Income Before Tax
$20,125,704
Income Tax
$7,053,964
Net Income
$13,071,740
 
 
BALANCE SHEET
Assets:
 
Current Assets
$74,044,596
Long Term Assets
$77,361,197
Total Assets
$151,405,793
 
 
Liabilities:
 
Current Liabilities
$26,786,265
Long Term Liabilities
$8,244,813
Total Liabilities
$35,031,078
 
 
Members Equity:
 
Capital Stock
$7,540,908
Accumulated Comprehensive Loss
($5,625,989)
Retained Earnings
$114,459,796
Total Member Equity
$116,374,715
 
 
Total Liabilities & Member Equity
 
 
$151,405,793
     
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Additionally, in September 2015, we purchased Countryside Products.  Countryside Products services propane accounts out of Iowa locations in Blockton, Clearfield, Corning, Creston and Murray; and Hopkins, Missouri. 
 
The process of fully integrating Countryside customers and employees within AGRILAND FS is in progress.
 
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All of our investments benefit you, our customers, and the rural communities we so passionately serve.

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Stock & Redemption

In August 2015, the Board of Directors approved patronage to be paid 80% cash and 20% stock.  Plus, in October 2015, a $750,000 stock redemption was approved. 

The balance sheet of the company is very strong.  For every $1 of stock issued, we have $15 of retained earnings backing it up.  The balance sheet strength gives AGRILAND FS the ability to aggressively move forward with our strategic direction of bringing more value to our customers, even during periods of transition.

 

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