October 20, 2017

MaxYield Cooperative Announces Fiscal 2017 Results

WEST BEND, IA, August 25, 2017 – MaxYield Cooperative® recently announced its fiscal results, for the year ending July 31, 2017.

“The current economic environment in the ag industry began in early 2014 and has impacted the cooperative, our members and the industry as a whole. This is the fourth consecutive year of lower net farm income and its impact is widespread. Revenues at MaxYield were down this year due to decreased margins, and reduced farmer spending,” stated MaxYield CEO Keith Heim.

MaxYield Cooperative’s Local Savings from Operations for the 2016-2017 fiscal year were ($1,258,390), and pre-tax Total Savings for the cooperative totaled nearly $3.1 million.

Heim noted that even though the fiscal year was challenging, the cooperative continues to have a very strong balance sheet. “It seems counter-intuitive to say, coming off a difficult earnings year, however, the balance sheet at MaxYield has never been stronger. Term debt has decreased, member’s equity increased and we added $2.4 million to working capital in 2017. MaxYield also increased retained savings, which now totals over $45.0 million. In 1997, retained savings were ($122,242), so you can see we continue to make significant progress in strengthening the financial position of MaxYield. We have been and will continue to focus on enhancing revenue and decreasing expenses in this tight economic environment,” he added.

The cooperative’s annual meeting is December 13, 2017 at 10:00 a.m. at the Clay County Regional Events Center, located in Spencer, IA.

About MaxYield Cooperative

MaxYield Cooperative is a member-owned, diversified agricultural cooperative founded in 1915 and is headquartered in West Bend, IA. The cooperative has 24 locations and three Cenex convenience stores in Iowa. MaxYield also provides grain origination and accounting services for two Iowa feed mills. For more information, visit MaxYield online at www.MaxYieldCoop.com and www.FromTheField.com.

 

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