BCBusiness

64 To p t o b o t t o m : i S t o c k / R o b e r t W a y ; A d o b e S t o c k / t o n g 2 5 3 0 B C B U S I N E S S . C A J U LY/A U G U S T 2 0 24 WORKSAFEBC Revenue change: 139.6% Net income: NP Net income change: NA The yo-yo-ing of WorkSafe continues again—it was this list's bigger loser last year after seeing a hefty increase the year prior. Bill 41 required a one-time payment of more than a billion dollars in 2022, but with that behind it, the Richmond-based organi- zation and its robust investment portfolio started seeing gains. RB GLOBAL Revenue change: 112% Net income: $278 million Net income change: -36% It's been a year of change for the company formerly known as Ritchie Bros. Auctioneers. The name swap was brought on by the long- standing Burnaby company's acquisition of American auto retailer IAA (which was worth some US$7.3 billion). Bringing the latter into the fold was no doubt a major reason for the increase in revenue. But that wasn't the only change the newly named company saw. CEO Ann Fandozzi was replaced in August by COO Jim Kessler after disputes over compensation with the company's board. CENTRAL 1 CREDIT UNION Revenue change: 63.4% Net income: $25.48 million Net income change: NA What a difference a year makes. After a net loss of $69.6 million in 2022, Vancouver- based Central 1 is back comfortably in the black. The banking services provider cited a "mix of fee revenue, higher payments vol- umes and increased use of our digital prod- ucts" on its annual report. Credit spreads narrowing was a key reason for the gain and helped the firm's treasury department report a net income of $56.1 million, com- pared to a net loss of $49.2 million in 2022. PAN AMERICAN SILVER Revenue change: 60.7% Net income: -$141.58 million Net income change: NA The Vancouver-based miner is another "big acquisition helps revenue, hurts net income" story with its US$4.8-billion pur- chase of Toronto-based Yamana Gold being the main explainer on both fronts. The deal added four mines to Pan American's pro- file in Argentina, Chile and Brazil, and was a major reason the company saw record revenue this year, including record gold production. ARC'TERYX EQUIPMENT Revenue change: 57.2% Net income: NP Net income change: NP A subsidiary of global sportswear giant Amer Sports, North Vancouver-based Arc'teryx has seen a massive explosion in revenue the past few years, climbing to 73rd on the list last year after not ranking the year prior and then making the jump all the way to 40th this year. Key in the company's rapid growth has been its global presence. Almost 50 percent of Arc'teryx's revenue comes from China, according to the parent company. In the first nine months of 2023, the brand saw at least 50 percent revenue growth in all four of the regions in which it has retail stores (Europe, the Middle East and Africa; the Americas; Greater China and Asia Pacific). ARITZIA Revenue change: 46.9% Net income: $187.58 million Net income change: 19.5% Another local retailer hitting it big in 2023 was Vancouver's Aritzia, which used U.S. expansion to spur growth even in a tough economy. Last year saw the opening of seven new boutiques stateside, in markets MAKING IT WORK Top: An Arc'teryx outlet in Shanghai welcomes shoppers as the company's global footprint grows Left: WorkSafeBC has made a habit of bounc- ing up and down the Top 100 list. This year, the government body rises all the way to 20th

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