BCBusiness

INTERFOR CORP. Revenue change: -8.8% Net income: -$304.3 million Net income change: NA This is the second year in a row that the Burnaby-based forest products company has landed on our revenue fallers list, amid a larger (and quite persistent) downturn in B.C. forestry overall, with volatility linked to changing monetary policies, tariffs and geo-political uncertainty. Weak market con- ditions prompted temporary production decreases for Interfor in 2024, while the company also announced an agreement to sell two sawmills and a manufacturing plant in Quebec. OLYMPIC INDUSTRIES ULC Revenue change: -13.6% Net income: NP Net income change: NA This North Vancouver-based softwood lumber distributor has also logged two con- secutive years among our biggest revenue decliners—making it a double whammy for the forestry industry on this side of the list. Though it's been around since 1972, Olympic Industries is not immune to the challenges that companies in B.C.'s forestry sector— including lumber producers and traders— have been hit with in recent years. To p : M o n k e y B u s i n e s s I m a g e s / S h u t t e r s t o c k ; b o t t o m : M ilj a n Z i v k o v i c / S h u t t e r s t o c k POWER DOWN BC Hydro and Power Authority lost its heat this year thanks to lower trade revenues was partially offset by higher domestic revenues). That said, BC Hydro noted that a 2.3 percent bill increase that took effect in April 2024 resulted in higher revenue figures for the last quarter. FORTISBC ENERGY Revenue change: -15.0% Net income: $286 million Net income change: -15.4% Coming in at #43 on the Top 100 list (down from #42 in 2024), FortisBC Energy saw an almost identical revenue change to BC Hydro. The utility provider also had a rate increase for customers approved in 2024— the extra funds are earmarked for system improvements and upgrades across B.C. TEEKAY CORPORATION Revenue change: -15.5% Net income: $183.24 million Net income change: -9.8% After being one of the biggest gainers on last year's Top 100 list due to having its highest annual adjusted net income in the company's 50-year history, Vancou- ver-based crude oil marine transportation service provider Teekay has slid into the revenue fallers list this year amid geopolit- ical and trade route uncertainty. Still, the company is optimistic about increasing its 2025 balance sheets, driven by global oil consumption growth. POLYGON FAMILY OF COMPANIES Revenue change: -10.0% Net income: NP Net income change: NA At #67 overall on our Top 100 list (keeping the same spot as last year), the Polygon Family of Companies, a major homebuilder in Metro Vancouver, landed on our faller's list for recording a modest decline in reve- nue in 2024 amid market uncertainty. But with ongoing development projects span- ning from Squamish to Vancouver and the surrounding suburbs (including one in Coquitlam that recently had buyers lined up pre-dawn to purchase!), 2025 is looking bright for this privately owned powerhouse. FORESTRY WOES Olympic Industries ULC is the poster child for the impact of recent chal lenges to the forestry industry 43 B C B U S I N E S S . C A J U LY/A U G U S T 2 0 2 5

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