Our very first semi-annual virtual meeting was held August 18 and 19 under the name of Sollio Groupe Coopératif. It is a unifying and promising appellation, a name that brings us together with pride. In the course of this meeting, we introduced our network delegates to our mid-year results and the progress of our Vision 2020 project.
I’m sure you won’t be surprised to find out that the pandemic affected our financial results. But rest assured we’re staying the course to redress the situation. All three of our divisions, Sollio Agriculture, Olymel L.P. and Groupe BMR, are doing everything they can to reach this objective. And the results are in. However, we must remain cautious.
The consolidation of our cooperatives is going well. Vivaco, Novago, Nutrinor, Avantis, Uniag, Covris and Agiska are right on track. The Alliance Co-op will inform us of their decision shortly. Soon, the only ones left to join forces will be the cooperatives located in the Lower Saint-Lawrence area. As to the partnership between the consolidated cooperatives and Sollio Agriculture, the first of the bunch, Sollio & Vivaco Agriculture cooperative, celebrated its first anniversary and the results can clearly be seen. As to the discussions with Avantis and Uniag, they are progressing nicely and a second partnership will soon emerge.
Our new 2025 strategic plan, which we’ve been working on for more than a year, is fully rooted in our ambition to safeguard the prosperity of our farming families and to support our members as they feed communities here and abroad with their high quality products, all with the objective of ensuring a constantly improving and efficient value chain.
The 2025 strategic plan is being driven by the thrust of Vision 2020 and is drawing the starting line for tomorrow’s agriculture. It targets a cohesion in growth activities and aims to create synergy among our three divisions Sollio Agriculture, Olymel L.P. and Groupe BMR. It’s a process of deep reflection on our growth strategies as well as on our financial and governance models. All the while taking into consideration the stakes involved in sustainable development and talent development, such as the next generation for example, within the framework of complementing our brand image.
So we’ve updated our vision as we did our mission for 2025. While this new vision strengthens our role as a major player whose influence ranges from national to international, our new mission is connected to today’s reality, to the society in which we live in, as it incorporates the concepts of prosperity and sustainability.
The first axis of the strategic plan is centered on six strategic business orientations in terms of financial performance, positioning, diversification, performance and structuring initiatives. The second one focuses on two federating orientations. The 2025 strategic plan embodies our value of cooperation since our organisation is basically a driving force for social and economic development in the communities in which we operate.
Cooperation has made us agents for change in the improvement of the value chain through our commitment, Sollio Groupe Coopératif as well as our three divisions. We must exercise our federative and evolutionary roles while taking into consideration the new reality that calls upon our ability to adapt across different angles, such as governance for example, as we adapt the make-up of our board of administration and its committees to the realities of tomorrow.
The 2025 strategic plan for Sollio Groupe Coopératif will allow us to face the challenges of global competition, industry consolidation, geographic growth and, more particularly, it will allow us to ensure sustainable prosperity for our agricultural entrepreneurs.