With a mission to inform, empower, celebrate and advocate for British Columbia's current and aspiring business leaders, BCBusiness go behind the headlines and bring readers face to face with the key issues and people driving business in B.C.
Issue link: http://digital.canadawide.com/i/1388249
JULY/AUGUST 2021 BCBUSINESS 101 Eldorado Gold Corp. REVENUE CHANGE: 68% NET INCOME: $130 MILLION (CONVERTED FROM USD) NET INCOME CHANGE: 33.6% Eldorado Gold's 33-percent hike in pro- duction, combined with rising bullion prices, pushed revenue up almost 70 percent in 2020. On the M&A front, the Vancouver company sold its Vila Nova mine in Brazil for $10 million last October, following that with its $132-million takeover of Quebec's QMX Gold Corp. in April. Also this spring, Greece's parliament ratified a deal to allow investment in Eldorado's mines in that country. Mark Anthony Group of Companies REVENUE CHANGE: 60% NET INCOME: NP NET INCOME CHANGE: NA All that mandatory staying home led to more drinking the blues away, spinning plenty of cash for the maker of White Claw, one of North America's hottest booze brands. As early as May 2020, hard seltzer retail sales hit US$100 million a week stateside, research firm NielsenIQ reports. Being a leader in the growing category puts Mark Anthony Group in a strong position this year. In response to consumer demand for higher alcohol content, the Vancouver company released its White Claw Surge in time for summer. B2Gold Corp. REVENUE CHANGE: 56.5% NET INCOME: $902 MILLION (CONVERTED FROM USD) NET INCOME CHANGE: 115.2% More than a million ounces of gold later— setting a record for annual production— B2Gold sits among the top gainers with $2.4-billion revenue in revenue for 2020. Most of that comes from the Vancouver company's Fekola mine in Mali, which is responsible for more than half of its yearly gold output. A $66-million exploration budget for 2021 shows that B2Gold (see p.74) is looking to aggressively expand operations where it finds opportunities. Polygon Family of Companies REVENUE CHANGE: 53.1% NET INCOME: NP NET INCOME CHANGE: NA As Canadian housing prices hit the strato- sphere, it isn't a shock to see Polygon on this list. But not all B.C. developers fared as well as the Vancouver builder in 2020, when COVID cast a brief chill on the prop- erty market. Late last year, Polygon broke ground on Silverdale, a planned water- front community in Mission that will even- tually be home to some 40,000 people, doubling the local population. Olympic Industries REVENUE CHANGE: 36.7% NET INCOME: NP NET INCOME CHANGE: NA When softwood lumber prices doubled in 2020, partly due to off-kilter supply chains, Olympic Industries prospered, pulling in almost $440 million in revenue. For North Vancouver–based Olym- pic and other B.C. wood suppliers, the home renovation boom also contributed heavily to a solid year. BC Investment Management Corp. REVENUE CHANGE: 35.6% NET INCOME: NP NET INCOME CHANGE: NA Defying most predictions—and perhaps even logic—financial markets gained sig- nificantly in 2020, buoying the investment industry's fortunes. As the province's pub- lic sector money manager, BCI oversees nearly $170 billion across public and pri- vate equity, real estate, infrastructure and renewable resources. Last year, it part- nered with subsidiary QuadReal Property Group to manage the latter's commercial mortgage program and committed $11.5 billion to private market assets. According to its 2021-23 business plan, Victoria-head- quartered BCI is focused on diversifying its investment strategies to meet (or beat) client expectations. International Petroleum Corp. REVENUE CHANGE: –40.8% NET INCOME: –$104 MILLION (CONVERTED FROM USD) NET INCOME CHANGE: NA The oil-and-gas explorer and producer had a trying year as the pandemic triggered an oil market collapse during the first half. Despite steady prices later on, Vancouver- based IPC ended 2020 with a US$70- million loss. The year ahead looks just as uncertain, according to a 2020 year-end statement by CEO Mike Nicholson, who's keeping an eye on vaccination rates, COVID variants and a global recovery. Longview Aviation Capital Corp. REVENUE CHANGE: –40% NET INCOME: NP NET INCOME CHANGE: NA Longview runs a portfolio of long-term investments in the Canadian aviation industry, so unsurprisingly, 2020 wasn't the best year for the North Saanich–based outfit. Subsidiary De Havilland Canada delivered 11 aircraft to customers but has since suspended new production, citing a lack of market demand. Imperial Parking Corp. REVENUE CHANGE: –31.1% NET INCOME: NP NET INCOME CHANGE: NA Staying at home didn't bode well for Impark, whose operations span 4,000 parking facilities in 400 cities across North America. The Vancouver-based company has contracts with event venues and commercial workspaces, both of COURTESY OF MARK ANTHONY GROUP