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/1471305
60 BCBUSINESS JULY/AUGUST 2022 c=converted from USD at 1.2535 (2021) and 1.3415 (2020) Revenue is by fiscal year c=converted from USD at 1.2535 (2021) and 1.3415 (2020) Revenue is by fiscal year c=converted from USD at 1.2535 (2021) and 1.3415 (2020) Revenue is by fiscal year FINANCE MANUFACTURING + TRANSPORT SCIENCE + TECHNOLOGY RANK COMPANY REVENUE 2021 ($000) REVENUE 2020 ($000) 1 Insurance Corp. of British Columbia 6,532,000 7,175,000 2 WorkSafeBC 4,555,000 3,674,000 3 HSBC Bank Canada 2,215,000 2,024,000 4 Canaccord Genuity Group 1,993,500 1,223,900 5 PBC Health Benefits Society 1,627,985 1,296,310 6 B.C. Investment Management Corp. 729,384 606,933 7 Vancouver City Savings Credit Union 624,500 490,000 8 Raymond James 607,948 c 517,819 c 9 Coast Capital Savings Fed. Cr. Union 512,035 429,609 10 First West Credit Union 343,541 291,428 RANK COMPANY REVENUE 2021 ($000) REVENUE 2020 ($000) 1 Finning International 6,696,000 6,196,000 2 Methanex Corporation 5,533,650 c 3,554,925 c 3 Premium Brands Holdings Corp. 4,931,700 4,068,900 4 Ledcor Group of Companies 3,700,000 3,200,000 5 Futura Corp. 2,800,000 1,875,000 6 Doman Building Materials Group 2,543,674 1,613,804 7 Hardwoods Distribution 2,025,905 c 1,163,797 c 8 Teekay Corporation 1,708,641 c 2,275,945 c 9 South Coast B.C. Trans. Authority 1,660,651 2,144,909 10 GCT Global Container Terminals 1,602,300 1,141,480 RANK COMPANY REVENUE 2021 ($000) REVENUE 2020 ($000) 1 Telus International (Cda) 2,750,179 c 2,122,253 c 2 Paladin Group of Companies 700,000 e 680,300 3 Sierra Wireless 593,167 c 601,781 c 4 BBTV Holdings 476,622 109,685 5 Abcellera Biologics 470,317 c 312,777 c 6 Westport Fuel Systems 391,593 c 316,509 c 7 Cymax Group Technologies 375,000 e 339,324 8 Stemcell Technologies Canada 325,428 246,683 9 Well Health Technologies Corp. 302,324 50,240 10 Absolute Software Corp. 151,403 c 140,416 c continued from page 55 By fall, it would manifest itself as across-the-board inflation. Indeed, disruption to the free flow of goods felt all the more acute here in British Colum- bia, where catastrophic weather events had a material effect on the economy. Not only would a blistering "heat dome" in June result in close to 600 fatalities—making it the most deadly weather event in Canadian history—an unprecedented tornado struck Vancouver's Point Grey. A succession of "atmospheric riv- ers" of rain in November precipitated flood- ing and washouts that, for more than a week, severed all direct highway and rail transport between the southwest coast and the rest of Canada. Gasoline sales were subject to ration- ing for weeks. But remember, these were the good times. For B.C.'s natural resource companies and their suppliers, 2021 was a tremendous year. As you can see in the Top 100 list, for- est and mining companies posted revenue and profit gains well into the double digits. In the case of West Fraser Timber, where revenues shot up 140 percent, higher wood prices and volume sales were further lev- eraged by consolidation, as the company digested its takeover of Toronto-based sheet board manufacturer Norbord Inc. Likewise, copper producer First Quan- tum Minerals evidenced impeccable timing in ramping up its massive Cobre Panama mine in Central America, just as a world fix- ated on electric vehicles took a run on the sublimely conductive metal. It was a similar story at perennial Top 100 heavyweights Teck Resources, Canfor Corp. and Finning International. Thanks to the commodities boom, the number of B.C.-based companies in the 12 figures doubled year-over-year, to four. Slower-growing Crown corporations, traditionally prominent among the prov- ince's corporate titans, were all but ban- ished from the top 10 as a result. Meanwhile, B.C.'s secular growth stories kept on doing their thing. Consumer-focused Lululemon Athletica, Premium Brands and upstart Article (parent name: TradeMango Solutions) all posted double-digit revenue growth again last year. Fresh off their initial public offerings over the previous two years, customer service automation company Telus International, web content distributor BBTV Holdings and health sciences startup AbCel- lera Biologics all crashed the list for the first time. Propelled by its ambitious acquisition