With new entrants and other companies on the rise, there must also be falls and even departures. There were 16 companies that had revenue fall by more than 10 per cent.
Lion fell nine places from #4 to #13; Dairy and Drinks accounted for just over a third of Lion’s revenue in 2020, so its sale was always going to be reflected in its figures. Its revenue fell 37.81 per cent.
Nestlé had the slightest fall (0.09 per cent) but dropped two places, out of the Top 10, to #12.
Allied Pinnacle dropped 26.96 per cent, the second largest fall of this year’s cohort. Bread and bakery goods manufacturers have not seen as much revenue growth as other channels, with industry revenue growth sitting at one per cent.
Goodman Fielder, just out of the Top 10 last year at #11, fell 16 places this year to #27 despite only a small revenue drop of 3.21 per cent. Accounts filed with the Australian Securities & Investments Commission show the company is in the middle of a restructure with its Singaporean parent entity and revenue from purchases/sales to the parent entity have not been at similar levels to previous years.
Despite industry revenue growing 11.5 per cent for meat processors, profitability was curbed by rising purchase costs as saleyard prices rose. Six meat processors recorded double digit revenue falls: Bindaree Beef was down 23.88 per cent, falling 12 places to #55.
Australian Lamb Company’s revenue fell 21.12 per cent (#53), Teys was down 19.53 (from #6 to #10), NH Foods, 18.45 (#30 to #31), G K O’Connor 17.33 (#79 to #81), and Pacific Meat 11.34 (#93).
Casella Wines was down 10.48 per cent, Kinrise 10.05, and noumi 10.29.
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 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.
