Regina, Sask.-Strong sales in each of its three business segments helped Saskatchewan Wheat Pool Inc. achieve fourth-quarter sales and other operating revenues of $602.1 million, a 10 percent increase from the $546.7 million reported for the same period last year. Agri-product sales for the company were up 6 percent for the quarter to $340.7 million, compared with $320.3 million in the comparable year-ago period. The company said the improvement occurred “despite excessive moisture in northeastern Saskatchewan that delayed seeding, reduced fertilizer application, and prevented producers from seeding approximately 1.7 million acres.” The Pool’s Agri-products retail operations generated fourth-quarter EBITDA of $21.3 million, up $3 million from last year, partially offsetting reduced contributions from Western Co-operative Fertilizer Limited (WCFL). WCFL contributed $10.5 million to the segment’s fourth-quarter EBITDA, down from last year’s $16.1 million due to margin pressures in fertilizer. The company said fourth-quarter fertilizer sales through its retail operations increased 15.2 percent from the same period last year due to higher sales volumes and prices. The Pool’s proportionate share of sales through WCFL, however, was 7.3 percent below last year’s fourth quarter due to decreased sales volumes. Fourth-quarter grain shipments for the Pool reached 2 million mt, up 6.8 percent from last year, with non-Board shipments up 17.3 percent. Company-wide, net earnings in the fourth quarter were $13.5 million, compared with $29.5 million in the prior year’s quarter. The Pool attributed the decrease to “a number of one-time items recorded in the fourth quarter this year.” Excluding these adjustments, net earnings for the final three months were $25.6 million, compared with $23 million in the comparable year-ago period.
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