Otter Co-op Reports on 2025 FY Results at AGM

On June 3, 2026, Otter Co-op held its 104th Annual General Meeting virtually via Zoom, bringing members, directors, and leadership together to review the 2025 fiscal year, vote on governance matters, and hear about the road ahead.

A meaningful financial turnaround

After a difficult prior year, Otter Co-op returned to profitability in 2025. Net earnings came in at $2.672 million, a turnaround of almost $7.8 million. CEO Jack Nicholson credited the result to disciplined cost management across every division, improved margins in key business areas, and difficult decisions made early in the year that accelerated the recovery faster than planned. Total company sales reached $471.8 million. We invite Otter’s members to review the 2025 Annual Report, attached below, for messages from Jack, Board President Gus Hartl, and our audited summarized financial reports.

Special Resolutions and Governance

Two Special Resolutions were brought forward for consideration at the Annual Meeting, relating to increased eligibility requirements for former employees seeking board nominations and reductions in director committee meeting pay. Both passed by the members in attendance. A motion was also brought forward and approved to accept MNP as Otter Co-op’s auditors for the 2026/27 Fiscal Year.

2026 Director Election Results

Three director positions were up for election this year, with three candidates putting their names forward. Carlo Bonetti and Shannon Todd Booth were re-elected to the Board, and Dennis Quiring joins as a newly elected director. All three were elected by acclamation for three-year terms.

This meeting also marked the conclusion of a chapter for Charlie Fox, Past Board President, after nine years of service on the Board of Directors. President Gus Hartl recognized Charlie for his significant contributions to Otter Co-op and the broader co-operative system.

Profits to be returned to members

As a result of the positive net earnings, a profit-sharing allocation will be distributed to eligible members later this year. Profitability in the Petroleum division, which includes Gas Bar and Bulk Fuel operations, made this year's patronage allocation possible. The Board of Directors approved the maximum allowable distribution under the BC Co-op Act: $1,033,000 returned to qualifying members, calculated at 1% of their 2025 fuel purchases, based on Otter Co-op's total profits of $2.672 million and the proportion of sales attributable to members.

This allocation will be split evenly: 50% will be returned as a cash-back cheque, and 50% will be credited to your equity account. If your cash-back amount is under $100, that portion will be credited to your equity account rather than issued a cheque. For seniors who have previously applied and met the age eligibility requirements to withdraw their equity, you will receive a cheque provided it is over $10.

These allocations will be finalized later this summer, tentatively set for late July. We are unable to pull individual equity balances until the allocations are fully processed at that time. When they are ready to be viewed, members will be notified through our website, social media, and email channels. Shortly thereafter, cheques will be mailed to qualifying members. Equity statements will not be mailed. Once ready, you can view your equity statement and account balance by downloading the Co-op app at www.coopapp.ca and following the instructions to sign in or up for a Co-op Account and verifying your membership information. Following the completion of the allocation process in late July, Members can also call our administration team at 604-856-2517 for more information.

Commitment to Stakeholders

Otter Co-op remains committed to transparency and proactive communication with all its’ members. The company continues to monitor market conditions closely and will provide further updates as necessary. Despite near-term challenges, the leadership team and Otter Co-op Board of Directors remain optimistic about the company’s trajectory and its ability to deliver value to members, guests, and employees alike.