On January 18th Premier held its 130th annual meeting at WI Riverside Resort in Spring Green, WI. As part of the financial report, Premier CFO Andy Jones reported your cooperative had a very strong year with gross sales of $300 million, and after-tax earnings of $14.5 million for fiscal year 2022. While all divisions of Premier had double digit percent sales growth over the prior fiscal year, this year’s results were led by a very strong year within our ag divisions, with agronomy and feed leading the company in volume growth and bottom line performance. As a result of our fiscal 2022 year-end, Chairman Steve Burns announced at the meeting that Premier will be returning $5 million in cash back to our members in 2023. Premier had a record year in terms of sales, local net profits, and cash to be returned to our customers which is made possible with the trust and support of our members, the hard work and dedication of our employees, and the leadership and guidance of our board of directors.
After serving our company for over 25 years, long time director Mitch Seston (Mazomanie, WI) announced that he would not be seeking re-election for another term on the board of directors in 2023 for region 2. Following an election earlier in January, Board Chairman Steve Burns announced at the annual meeting that Jason Helt of Waunakee has been elected to a three year term as a new director for Premier. Jason, alongside his family, operate Helt Diversified LLC near Waunakee, Wisconsin. Helt Diversified is a second-generation dairy, beef, and grain farm. In addition to farming, Helt Diversified is involved in animal bedding and landscape mulch manufacturing as well as forest product transportation throughout Wisconsin. Prior to rejoining the family farm, Jason earned degrees from UW Madison in accounting and risk management and holds his CPA certification. Jason, his wife Lisa and two daughters live near Dane, Wisconsin. In addition to Jason as a newly elected director, current board member Steve Trescher (Cashton), was re-elected to serve another 3-year term for region 5. I would like to thank Mitch for his years of service and guidance to our cooperative and congratulate Steve and Jason on their successful elections.
Another highlight from this year’s annual meeting was when Allison Young, Premier Communications Manager, awarded 21 high school seniors with scholarships of $750 each. Congratulations to each of you and I wish you the best of luck as you begin your college career.
In closing, I would like to thank each of you for your tremendous support over the years that allow us to return record cash back to our members, award scholarships to the next generation, hire and retain the quality staff to serve you, and so much more. We appreciate the trusted partnerships we have built over the years, and will continue to work hard each day to earn your business. Thank you.
