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/1523048
56 B C B U S I N E S S . C A J U LY/A U G U S T 2 0 24 e=estimate, c=converted from US$ at 1.3497 (2023) and 1.3013 (2022); NA=not applicable; NP=not provided; NR=not ranked; revenue is by fiscal year NATURAL RESOURCES RANK COMPANY REVENUE 2023 ($000) REVENUE 2022 ($000) 1 Teck Resources 15,011,000 17,316,000 2 Paper Excellence Group 14,576,760 c 14,184,170 3 First Quantum Minerals 8,713,663 c 9,923,714 4 West Fraser Timber Co. 8,710,964 12,623,911 5 Canfor Corp. 5,426,600 7,426,700 6 Lundin Mining Corp. 4,578,286 3,957,550 7 Interfor Corp. 3,315,700 4,584,045 8 Pan American Silver 3,126,040 c 1,945,077 9 Mercer International 2,691,091 c 2,968,183 10 B2Gold Corp. 2,610,687 c 2,254,619 e=estimate, c=converted from US$ at 1.3497 (2023) and 1.3013 (2022); NA=not applicable; NP=not provided; NR=not ranked; revenue is by fiscal year REAL ESTATE RANK COMPANY REVENUE 2023 ($000) REVENUE 2022 ($000) 1 BC Housing Management Commission 2,409,981 1,961,498 2 Imperial Parking Corp. 1,484,670 ce 1,100,000 3 Northland Properties Corp. 1,447,000 1,200,000 4 Beedie 1,136,000 407,000 5 Polygon Family of Companies 838,000 617,000 6 Anthem Properties 833,600 1,123,780 7 Concert Properties 435,000 325,000 8 American Hotel Income Properties REIT 378,619 c 366,143 9 City Office REIT 241,726 c 234,865 10 Wall Financial Corp. 144,352 241,049 e=estimate, c=converted from US$ at 1.3497 (2023) and 1.3013 (2022); NA=not applicable; NP=not provided; NR=not ranked; revenue is by fiscal year RETAIL RANK COMPANY REVENUE 2023 ($000) REVENUE 2022 ($000) 1 Lululemon Athletica 12,983,139 c 10,554,217 2 Georgia Main Food Group 6,400,000 e 6,150,000 3 RB Global 4,966,356 c 2,256,204 4 Best Buy Canada 4,729,349 c 5,089,384 5 BC Liquor Distribution Branch 3,873,632 3,751,564 6 London Drugs 3,200,000 e 3,050,000 7 Aritzia 2,195,630 1,494,630 8 OpenRoad Auto Group 2,183,072 1,872,428 9 Kal Tire 2,100,000 1,900,000 10 Arc'teryx Equipment 1,948,292 c 1,239,618 Smaller mining companies with facili- ties starting or restarting operations also witnessed large percentage revenue increases, like SilverCrest Metals and Impe- rial Metals, which both sit just outside of the Top 100 list. Insurer WorkSafeBC, whose revenues tend to bounce around year to year, saw a 140-percent swing to the positive. Developer and financier Beedie staged a spectacular 179-percent revenue jump. And seemingly shrugging off a strike at its Vancouver refinery late in 2023, Rog- ers Sugar boosted revenues and turned a sweet profit after a year of losses in 2022. ATTRACTING HEAD OFFICES One undeniable win for B.C.'s corporate community in 2023 was Lundin Mining's decision to relocate from Toronto to Van- couver, where most of the other companies controlled or significantly owned by the Swedish-Canadian Lundin family (Lundin Gold, International Petroleum, Lucara Dia- mond, Filo Corp.) are already located. "Our move to the West Coast is about collaboration across the Lundin Group of Companies, and beginning a new adven- ture as we sharpen focus on our high- quality operations and material growth," the company explains on its website. The move coincided with company president Jack Lundin's elevation to CEO last fall, suc- ceeding Peter Rockandel—a move frowned upon by investors at the time. Regardless of the motives, Lundin Mining's arrival brings $4.6 billion in annual revenues and hundreds of jobs to downtown Vancouver. Another revelation from this year's Top 100 is just how big a deal Arc'teryx Equipment has become. Thanks to parent company Amer Sports' initial public offer- ing in January, we have the first reliable MOVING IN Last year, Lundin Mining announced that it was relocating from Toronto to Vancouver—and bringing big business with it L u c a r a D i a m o n d