While there were companies holding on to their ranking, there were new entrants making their presence known.
Fonterra and JBS Australia held strong at the top of the list for the sixth year in a row. Fonterra is now focused on its goal of returning NZ$1 billion to shareholders by 2030 by offloading non-core assets and focusing on differentiating New Zealand dairy on global markets.
JBS recorded a 5.97 per cent revenue increase on the previous financial year recording an increase in domestic sales which was driven by the acquisition of Huon Aquaculture and Rivalea, and recovery in the retail and food service channels.
Asahi Bverages, which entered the Top10 last year, advanced another two places to #3, pushing Coca Cola Europacific Partners down a spot to #4.
Bega had one of the biggest jumps of the whole list, climbing eight places and into the Top 10 at #6. It had a bruising year with Covid impacts but still performed well with the full integration of Lion’s Dairy and Drinks business reflected in its 38.89 per cent revenue growth.
Saputo and Ingham’s both moved forward two spots to #6 and #7 respectively, moving Treasury Wine Estates to #8, which was one of the two companies recording a revenue drop in the Top 10 – down 7.85 per cent.
Saputo is still Australia’s largest dairy processor, but rationalisation of operations earmarked by global CEO Sino Saputo earlier in the year have started to manifest and are expected to continue.
Another new entrant in the Top 10 this year was Thomas Foods International, jumping five places into #9 while Teys Australia held on with a four-place fall to #10.
Both meat processors, Thomas Foods International produces and sells premium lamb, beef, mutton, and goat products around the world. It is currently rebuilding its processing plant in Murray Bridge, South Australia that has seen around 180,000 cubic metres of soil on the site has been redistributed, 13,500 cubic metres of concrete laid, and 1700 tonnes of steelworks. It also is part of a joint venture to develop Australia’s plant processing capacity.
The Top 100: Full report
Top 100: The 2022 Top 10
Top 100: The fastest movers in 2022
Top 100: The falls of 2022
Top 100: 2022’s new arrivals
Food & Drink Business, in collaboration with IBISWorld, presents this year’s Top 100 companies, a ranking by revenue of Australia’s largest players in the food and beverage sector. This year's report was sponsored by Foodmach.
This year’s Top 100 reflects financial reporting from calendar year 2021 and financial year 21/22, with Covid, ongoing supply chain disruption, geo-political tensions and war, and extreme climate events all protagonists on companies’ balance sheets.
It is worth noting that the list is only inclusive of manufacturers and looks at total revenue of the highest reporting ANZ entity of the company.
