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
JULY/AUGUST 2022 BCBUSINESS 69 Winners + Losers Winners BBTV Holdings REVENUE CHANGE: 334.5% NET INCOME: –$38.8 MILLION NET INCOME CHANGE: –346% Usually, being at the top of this list is cause for celebration. But we're not sure Broad- bandTV Corp. and its CEO, Shahrzad Ra- fati, are breaking out the champagne and cheese. BBTV brought in some nice overall revenue numbers, hitting the Top 100 for the first time in the media company's his- tory. But its net income plunged, and so has its stock price. What gives? Well, some of the company's investments, like those in Web3 and in YouTube Shorts content— the platform hasn't monetized yet, but was worth about 20 percent of BBTV's Q4 views—might just need some time. West Fraser Timber Co. REVENUE CHANGE: 140.5% NET INCOME: $2.95 BILLION NET INCOME CHANGE: 401.2% West Fraser's record year started early with the finalizing of its acquisition of Toronto wood-based panels producer Norbord and its $1.7 billion or so in as- sets around the world. That deal and its geographical diversification helped offset transportation and mill disruptions in the face of unprecedented flooding in the province. Of course, increases in wood prices didn't exactly hurt the industry— companies like Canfor and Doman Build- ing Materials also had big years. Fortuna Silver Mines REVENUE CHANGE: 100.9% NET INCOME: $74.5 MILLION (CONVERTED FROM USD) NET INCOME CHANGE: 157.5% If you drew up a formula for a big year for Fortuna it would probably look something like silver prices hitting highs not seen in several years + massive increases in pro- duction. That's exactly what happened for the Vancouver-based company. Fortuna's WATCH ME DO IT BroadbandTV had a big revenue lift despite a net income plunge. The company thinks there's a lot to build on in the future Resource companies came out mostly ahead in the year that was, while those that depended on people moving around the province—for entertainment or otherwise— had a tough time b y N A T H A N C A D D E L L