progressive farmers 72nd annual meeting...four districts - 2 directors per district, 1 director...
TRANSCRIPT
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Annual Meeting
January 31, 2018
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Joe HolschbachBoard Chair
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Wes Hedrich
Board Secretary
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Steve Zutz
• Financial Report
C.E.O., Country Visions Cooperative
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Assets2016-2017
Inventory16.2%
Receivables12.0%
Investments29.3%
Property & Equipment
39.7%
Cash & Other2.8%
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Liabilities and Patron Equities2016-2017
Current Liabilities
20.9%
Unallocated Reserve32.0%
Patron Credits26.2%
Long Term Liabilities
14.9%
Other6.0%
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Sales By Division2016-2017
Agronomy38.3% Petroleum
25.2%
C-Stores15.4%
Grain14.2%
Propane5.6%
Garages & Country Stores
1.3%
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Financial Ratios
• Current Ratio 1.48
• Working Capital to Sales 9.12 %
• Ownership Ratio 60.16 %
• Local Ownership Ratio 56.93 %
• Salary & Wages to Gross Margin 38.23 %
• Return on Total Assets 5.64 %
• Return on Patron Equities 8.80 %
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CP FeedsValders, Wisconsin
2016-2017
• Sales $155,600,000
• Net Income $ 5,870,000
• CVC Ownership 60.8%
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Mark Mentink
• Financial Report
General Manager of former KLC
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Assets2016-2017
Inventory13.6%
Receivables22.0%
Investments22.7%
Property & Equipment
34.0%
Cash & Other7.7%
Kettle Lakes
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Liabilities and Patron Equities2016-2017
Current Liabilities
30.0%
Unallocated Reserve14.3%
Patron Credits41.1%
Long Term Liabilities
14.6%
Kettle Lakes
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Jack HankeBoard Chair of former KLC
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Joe HolschbachBoard Chair
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District Map
1
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Director TermsFour Districts - 2 directors per district, 1 director at-large
Term Expires
District 1: Nick VanGheem 2018Brian Markwardt 2020
District 2: Joe Holschbach 2018 Dave Schneider 2020
District 3: Ray Halbur 2019 Rande Bonde 2020
District 4: Greg Rickert 2018 Bill Wiese 2019
At-Large: Wes Hedrich 2019 KLC Directors: Matt Teunissen 2018
Mike Paulus 2019Jack Hanke 2020
Directors’ election by mail in January 2018
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Nomination Committee
John Hinz
Larry Shambeau
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Voting Ballot
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Voting Ballot
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Equity Retired
Estates & Over Age 70 $ 209,000$ 11,000
2005 Equity Paid $ 925,000
Total $ 1,145,000
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Patronage Distribution
Refund Rate Distribution Cash 40%
3.294 % $ 2,799,000.00 $ 1,119,000.00
$.12 per bu $ 540,000.00 $ 216,000.00
2.078 % $ 2,820,000.00 $ 1,128,000.00
$ 6,159,000.00 $ 2,468,000.00
Agricultural (Fuel, LP, Agronomy)
Grain
CP Feeds
Total
Will be paid out in early spring!
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Steve ZutzC.E.O., Country Visions Cooperative
• C.E.O. Report
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Thank you for your business!
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Kettle Lakes Co-op MergerSeptember 1, 2017
$40 Million Sales
AgronomyRandom Lake
Sheboygan Falls
GrainRandom Lake
Cedar Grove
Country StoreSheboygan Falls
FeedRandom Lake
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Random Lake Facilities
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Cedar Grove
Sheboygan Falls
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Kettle Lakes Co-op MergerSeptember 1, 2017
⦁ 240 voting members
⦁ 3 additional Board Members
⦁ Market area –
Sheboygan and Ozaukee Counties
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Co-Energy Alliance
⦁ 50/50 Ownership with Adell Co-op
⦁ Propane and Refined Fuels
⦁ $6.8 million in Sales
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Plymouth Agronomy Site
⦁ 13,000 ton Dry Plant
⦁ 25 Car Rail Siding
⦁ Liquid Fertilizer
⦁ Seed Treatment & Warehouse
⦁ Office & Shop
⦁ Growth Potential to the East
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Plymouth Agronomy Site
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Wrightstown Agronomy
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CP FeedsWrightstown Construction
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Reedsville C-Store
⦁ Remodel
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Valders Grain
⦁ New 730,000 bu Grain Bin
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Commitment toCommunity
• County Fair Support
• Fire Departments
• Service Clubs
• Schools
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Commitment to Community
• Farm Wisconsin Discovery Center
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Employee Group!
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Annual Meeting
January 31, 2018
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Thank You for coming!
Refreshments will be served.
Please Drive Safely!