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/1501233
JSMIMAGES/ALAMY STOCK PHOTO 82 BCBUSINESS.CA JULY/AUGUST 2023 c=converted from USD at 1.3013 (2022) and 1.2535 (2021) Revenue is by fiscal year c=converted from USD at 1.3013 (2022) and 1.2535 (2021) Revenue is by fiscal year c=converted from USD at 1.3013 (2022) and 1.2535 (2021) Revenue is by fiscal year N A T U R A L R E S O U R C E S R E A L E S T A T E C H A R I T I E S RANK COMPANY REVENUE 2022 ($000) REVENUE 2021 ($000) 1 Teck Resources 17,316,000 12,766,000 2 Paper Excellence Group 14,184,170 c 2,000,000 c 3 First Quantum Minerals 9,923,714 c 9,040,242 c 4 West Fraser Timber Co. 9,701,000 10,518,000 5 Canfor Corp. 7,426,700 7,684,900 6 Interfor Corp. 4,584,045 3,289,146 7 Mercer International 2,968,183 c 2,260,380 c 8 B2Gold Corp. 2,254,619 c 2,208,998 c 9 Taiga Building Products 2,192,705 2,219,674 10 Pan American Silver 1,945,077 c 2,043,205 c RANK COMPANY REVENUE 2022 ($000) REVENUE 2021 ($000) 1 BC Housing Management Commission 1,961,498 1,903,818 2 Northland Properties Corp. 1,200,000 850,000 e 3 Anthem Group of Companies 1,123,780 713,540 4 Imperial Parking Corp. 1,100,000 e 603,675 e 5 Polygon Family of Companies 617,000 1,081,000 6 American Hotel Income Properties REIT 366,143 c 291,000 c 7 Concert Properties 325,000 305,000 8 Wall Financial Corp. 241,049 191,558 9 City Office REIT 234,865 c 205,625 c 10 BC Pavillion Corp. 98,647 82,751 RANK COMPANY REVENUE 2022 ($000) REVENUE 2021 ($000) 1 BC Children's Hospital Foundation 55,778 39,480 2 University of British Columbia 55,044 36,990 3 Vancouver Foundation 50,000 e 58,888 4 BC Cancer Foundation 44,527 29,060 5 VGH & UBC Hospital Foundation 35,906 25,223 6 St. Paul's Foundation 25,390 17,137 7 Union Gospel Mission 24,361 23,570 8 Power to Change Ministries 20,411 19,846 9 Terry Fox Foundation 18,412 13,545 10 Covenant House Vancouver 17,464 17,732 of infrastructure around mid-decade, exports should continue to rise in the medium term. In the meantime, work- forces on these projects will wind down, which could exacerbate unemployment should a long- predicted recession finally hit. At the time of writing, however, the labour market in B.C. is still tight. H O W B . C . C O M P A N I E S F A R E D The Top 100's aggregate revenues rose 16.8 percent in 2022—on top of a similar increase a year earlier—to $262.7 billion. As inflation raged, retailers and other companies selling directly to consumers saw their revenues jump the most they have in years. Telecom giant Telus stayed on top with a healthy 8.6-percent increase, but Lululemon Ath- letica is on track to become the province's largest company by revenues within three years (to go along with its seat atop the market-capitalization heap) should it main- tain its pace of growth. The results for the province's natural resources companies were mixed, as prices for commodities such as forest products and some minerals mod- erated from their 2021 peaks. For the first time, there were five B.C.- headquartered companies with revenues in the 11 figures—up from four last year and just two in 2020. Paper Excellence and Lulule- mon both joined the club once their results were converted into Canadian dollars, while two of last year's inductees—West Fraser Timber and copper miner First Quantum Minerals—just failed to make the cut. A special note on Paper Excellence: its extraordinary growth in recent years has been fuelled by a spate of international Lululemon is on an impressive growth trajectory. Could it possibly unseat Telus in a few years?