Annual Meeting 2016 Year End Review and Update on Co-op
To our Members, /5(& ZUDSSHG XS WKH ¿VFDO \HDU
Hamid Vahdatipour, CEO )<
PDLQWDLQLQJ D KHDOWK\ ¿QDQFLDO SRVLWLRQ GHVSLWH WKH ORZHU HQHUJ\ VDOHV GXH WR PLOG ZLQWHU DQG VXPPHU WHPSHUDWXUHV 7RWDO N:K VDOHV ZHUH
ORZHU WKDQ
SURMHFWLRQV /RZHU VDOHV IDLOHG WR JHQHUDWH DGHTXDWH UHYHQXHV WR FRYHU DOO WKH RSHUDWLQJ H[SHQVHV RI WKH FRRSHUDWLYH /5(& HQGHG WKH \HDU ZLWK DQ RSHUDWLQJ GH¿FLW RI
+RZHYHU WKH DGGLWLRQ RI WKH QRQ
RSHUDWLQJ UHYHQXHV HQDEOHG XV WR HQG WKH \HDU ZLWK LQ WRWDO PDUJLQV
2XU PHPEHUV¶ HTXLW\ GHFUHDVHG WR ORQJ WHUP GHEWV LQFUHDVHG WR
E\ PLOOLRQ WR DQG 7KH HTXLW\
DV D SHUFHQW WR WRWDO DVVHWV UHPDLQV YHU\ VWURQJ DW 7RWDO XWLOLW\ SODQW ZDV LQFUHDVHG E\ PLOOLRQ WR DQG WKH QRQ XWLOLW\ SODQW ZDV LQFUHDVHG PDLQO\ GXH WR WKH )LEHU
WR WKH +RPH SURMHFW FRQVWUXFWLRQ
Other highlights from the fiscal year include:
• /5(&¶V PRGL¿HG GHEW VHUYLFH FRYHUDJH IRU WKH )< ZDV
DQG WKH WRWDO GHEW WR DVVHW UDWLR ZDV
• 7KH DYHUDJH UHVLGHQWLDO N:K XVDJH SHU PRQWK ZDV N:KV
• 7RWDO PLOHV RI OLQH ZHUH RI
PHWHUV
•7RWDO SXUFKDVHG SRZHU FRVW DV D SHUFHQW RI UHYHQXH FRQWLQXHV WR LQFUHDVH 3RZHU FRVW ZDV UHYHQXH IRU )<
7KLV UDWLR IRU )< ZDV
:H VWULYH WR PDLQWDLQ WKH ORZHVW SRVVLEOH UDWHV DQG \HW SURYLGH D UHOLDEOH VHUYLFH WR RXU PHPEHUV /DNH 5HJLRQ (OHFWULF &RRSHUDWLYH¶V PLVVLRQ DGRSWHG E\ WKH
2 LREC Powerline Press RI WRWDO ZKLFK VHUYHG DQ DYHUDJH
ERDUG RI GLUHFWRUV FKDUJHV WKH FRRSHUDWLYH WR SURPRWH DQG VXVWDLQ WKH VHOI UHOLDQFH RI PHPEHUV E\ SURYLGLQJ WKH PRVW UHOLDEOH XWLOLW\ VHUYLFH DW FRPSHWLWLYH UDWHV /5(& UHPDLQV FRPPLWWHG WR SURYLGLQJ WKH EHVW TXDOLW\ RI VHUYLFH WR RXU PHPEHUV E\ PDLQWDLQLQJ DQG XSJUDGLQJ WKH XWLOLW\ SODQW 9HJHWDWLRQ FRQWURO FRQWLQXHV WR EH D WRS SULRULW\ IRU /5(& $IWHU WKH VXFFHVV RI /5(&¶V SLORW )LEHU 7R 7KH +RPH
SURMHFW WKH %RDUG KDV GHFLGHG WR FRQWLQXH WKH HQGHDYRU WR SURYLGH KLJK TXDOLW\ VWDWH RI WKH DUW EURDGEDQG VHUYLFH WR LWV PHPEHUV E\ VWDUWLQJ WKH SKDVH RQH FRQVWUXFWLRQ RI ¿EHU RSWLF OLQHV RYHU
7KLV SKDVH LQFOXGHV FRQVWUXFWLRQ RI LQWHUQHW WR RYHU WKUHH SKDVH SURMHFW WKDW VWDUWHG LQ $XJXVW RI
PLOHV RI ¿EHU RSWLFV ZKLFK ZLOO EULQJ KLJK VSHHG KRPHV 7KLV LV WKH ¿UVW SKDVH RI D 7KH
3KDVH 2QH SURMHFW LV H[SHFWHG WR EH FRPSOHWHG LQ WKH ¿UVW TXDUWHU RI ,Q 'HFHPEHU RI
WKH ERDUG ZDV SOHDVHG WR
DSSURYH D SDWURQDJH FDSLWDO UHWLUHPHQW UHIXQG RI WR WKH PHPEHUV EULQJLQJ WR WRWDO IXQGV
UHIXQGHG WR WKH PHPEHUV WR ([FHOOHQW FXVWRPHU VHUYLFH VWURQJ ¿QDQFLDO
FRQGLWLRQ DQG UDWH VWDELOLW\ KDYH EHHQ DPRQJ WKH WRS GULYHUV GLUHFWLQJ /DNH 5HJLRQ (OHFWULF &RRSHUDWLYH¶V ORQJ UDQJH SODQQLQJ DQG GD\ WR GD\ RSHUDWLRQV :H DUH SOHDVHG WR DQQRXQFH WKDW ZH KDYH PHW RU H[FHHGHG WKRVH JRDOV IRU
/DNH 5HJLRQ
(OHFWULF &RRSHUDWLYH¶V $QQXDO 5HSRUW LV DYDLODEOH RQOLQH DW
www.lrecok.coop /annual-reports
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112
