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Issue link: http://digital.canadawide.com/i/1471305
JULY/AUGUST 2022 BCBUSINESS 71 LIONSGATE Lindero Mine in Argentina saw its output quadruple after being closed for a portion of last year. And the Yaramoko Mine in Burkina Faso—which it picked up in its July acquisition of Toronto's Roxgold—proved productive. International Petroleum Corp. REVENUE CHANGE: 92.1% NET INCOME: $183 MILLION (CONVERTED FROM USD) NET INCOME CHANGE: NA Not everyone is upset about skyrocketing gasoline prices. That may be a tad deduc- tive, but the fluctuation in the cost of gas from the beginning of the pandemic (as you may recall, it hit record lows previ- ously thought impossible) to shortages at the end of 2021 is about as stark as it gets. And yes, we're still kicking ourselves for not filling up jerry cans when the going was good. IPC also increased its stake in Malaysia's Betram field from 75 percent to 100 in April, and then enjoyed watching it have a banner year. Hardwoods Distribution Inc. REVENUE CHANGE: 74.1% NET INCOME: $129 MILLION (CONVERTED FROM USD) NET INCOME CHANGE: 267.9% The Langley wholesale distributor of ar- chitectural building products saw its stock hit record highs in 2021. It was a culmina- tion of the last little while—HDI was about a quarter of its current size six years ago. The company has since expanded its prod- uct selection while completing numerous acquisitions, including its biggest ever last June—a US$303-million purchase of Michi- gan's Novo Building Products. That deal brought in $670 million in pro forma an- nual sales to HDI and expanded its market to DIY and home builder sales. Fallers BC Lottery Corp. REVENUE CHANGE: -61.8% NET INCOME: $429.9 MILLION NET INCOME CHANGE: 68.1% Closing all of its gambling facilities for a large portion of the fiscal year had a pre- dictable impact on BCLC's revenue. But the company was still net income positive, as record-breaking revenues in lottery and eGaming divisions softened the impact from the loss of brick-and-mortar gambling facility revenues. Last summer's legaliza- tion of single-event betting in Canada should continue to grow BCLC's revenues, though it also means an increase in competition. Teekay Corporation/Teekay Tankers REVENUE CHANGE: -24.9%/-42.8% NET INCOME: $24 MILLION/ (CONVERTED FROM USD)/ NP NET INCOME CHANGE: NA This year marked something of a new era for the international crude oil shipper, and it faced some rocky waters as it made the transition. So while the numbers might not look great, Teekay, which has its Canadian base in Vancouver, likely isn't sweating too hard after selling its LNG division to New York investment firm Stone- peak for a cool US$6.2 billion in the fall. The company also took steps to phase out its FPSO (floating production storage and offload- ing unit) division, mooring its Petrojarl Banff FPSO in Denmark to be recycled. Revenue also took a partial hit from a heavier- than-normal drydocking sched- ule (in which ships have to dock once every five years) in both its gas and tanker businesses. South Coast B.C. Transportation Authority REVENUE CHANGE: -22.6% NET INCOME: -$198.5 MILLION NET INCOME CHANGE: NA Thanks to government subsidies in 2020, this is the year the corporation known as TransLink pays the fare. It falls 23 points in our ranking this year after holding steady the last two years at number 24. Rider- ship has taken its time to come back to the government agency. In 2021, it hit about 48 percent of pre- COVID ridership levels. In May of 2022, it was getting better with a reported 70 percent, but there's still a hill to climb. Major infrastructure projects like the Broadway subway will have a hand in the recovery. Univar Canada REVENUE CHANGE: -21.8% NET INCOME: NP NET INCOME CHANGE: NA Though the Illinois-based multinational industrial chemical distributor had a ban- ner year overall, its Canadian division— based in Richmond—lagged behind. The company credits its loss on this side of the border to the decision to exit the Canadian agriculture wholesale distribution busi- ness. That resulted in the closure of some of its Canadian operations. Better news likely awaits though—Univar plans to open a state-of-the-art facility in Abbotsford in 2023, which will help the company hit its long-term sustainability commitment of achieving net-zero emissions by 2050. Lions Gate Entertainment REVENUE CHANGE: -21.4% NET INCOME: -$43.2 MILLION (CONVERTED FROM USD) NET INCOME CHANGE: NA It shouldn't be a shock that the major hit in Vancouver-domiciled Lions Gate's rev- enues were taken in the motion picture division. While the company's 2016 acqui- sition of Starz keeps paying off, last year was always going to be tough at the gate for theatrical releases, especially when played against the year prior, which saw Knives Out and John Wick: Chapter 3 hit the box office. The company is hoping for a Keanu-like resurgence in the years to come with franchise properties like John Wick: Chapter 4, a Hunger Games prequel and a movie based on the Monopoly board game set to hit screens. n THE KEANU EFFECT John Wick: Chap- ter 3–Parabellum was too much for Liongs Gate to live up to this year