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Issue link: http://digital.canadawide.com/i/1388249
102 BCBUSINESS JULY/AUGUST 2021 ISTOCK which saw low car traffic in 2020. Impark is part of Miami-headquartered Reef Technology, which turns old parking lots into neighbourhood hubs that can gener- ate additional revenue for owners. Teck Resources REVENUE CHANGE: –25% NET INCOME: –$944 MILLION NET INCOME CHANGE: NA The Vancouver-headquartered mining titan had a mixed 2020. Although copper prices rose, the price of both steelmaking coal and blended bitumen (which make up slightly less than half of Teck's total revenue) fell more than 30 percent, lead- ing to a loss of almost $1 billion for the year. A pickup in steel prices in the fourth quarter and copper's continued rise should provide some relief in 2021. Powerex Corp. REVENUE CHANGE: –23.4% NET INCOME: NP NET INCOME CHANGE: NA Powerex, the marketing and trading arm of BC Hydro and Power Authority, exports energy across the border to California and Washington state. Given lower power demand in the COVID- stricken U.S., the Vancouver outfit took a revenue hit last year. Finning International REVENUE CHANGE: –20.7% NET INCOME: $232 MILLION NET INCOME CHANGE: –4.1% Even with a 21-percent revenue drop, the world's largest Caterpillar dealer kept the impact to its bottom line to just 4 percent, boosted by recovery in the fourth quarter. Vancouver-based Finning, which sells, rents, and provides service and maintenance for Cat equipment in five countries, was understandably affected by pandemic lockdowns, with its Canadian segment taking the biggest blow. The company expects to bounce back in 2021 but says revenue growth will lag 2019 levels. Charlwood Pacific Group REVENUE CHANGE: –20% NET INCOME: NP NET INCOME CHANGE: NA Vancouver's Charlwood Pacific owns the master rights to more than 1,700 fran- chised outlets in the travel, retail and real estate sectors. The plunge in international travel, plus enforced lockdowns, which took their toll on consumer spending, sapped its revenue in 2020. Methanex Corp. REVENUE CHANGE: –18.4% NET INCOME: –$210 MILLION (CONVERTED FROM USD) NET INCOME CHANGE: NA The drop in demand for methanol and faltering oil prices affected Methanex in 2020, and despite recoveries for both by the end of the year, the Vancouver company posted a US$125-million loss. President and CEO John Floren expects the methanol market to keep improv- ing this year, though, citing strong fundamentals. GFS British Columbia REVENUE CHANGE: –16.7% NET INCOME: NP NET INCOME CHANGE: NA Two indoor dining bans, the last of which only lifted recently, hit B.C.'s hospitality industry hard. Delta-based Gordon Food Service—a supplier to 21 private brands and seven speciality com- panies—felt the heat. Labour shortages and strained supply chains might not make 2021 the easy comeback that some expect it to be. Pacific Blue Cross REVENUE CHANGE: –14% NET INCOME: $9.2 MILLION NET INCOME CHANGE: –13.3% Despite growing its customer base, Pacific Blue Cross suffered when health authorities postponed elective surgeries and procedures in the midst of the pan- demic. The Burnaby-based insurer's net premiums earned fell by more than $60 million last year while general adminis- trative costs remained the same. n KEEP ON TRUCKIN' Caterpillar dealer Finning took last year's revenue losses in stride