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Private Companies SPECIAL REPORT Private Companies SPECIAL REPORT businessnews.com.au Private Companies HE Data & Insights database It had revenue of $1.45 billion has recorded the revenue of last financial year, and that’s just FEATURE Big shifts TWestern Australia’s largest counting its dividends from iron companies for many years and ore miner Fortescue Metals Group highlights how rapidly the busi- and revenue from its agribusiness ness sector has changed. arm. among WA’s Gina Rinehart’s Hancock Pros- Mining contractor Byrnecut pecting has achieved exponential does not have a high public profile growth in the revenue it generates despite growing to be the state’s top players from its iron ore mines. fourth largest private business. It is now well established as the Its biggest direct competitor, state’s largest private company, Barminco, is now part of listed The ranking of WA’s largest helped in large part by the earnings company Perenti Global. from its subsidiary, Roy Hill Hold- Another company to have dis- private companies has ings, which is ranked number two. appeared from the list last year is Another relatively new entrant stockbroker Hartleys, having been Mark Beyer changed dramatically over to the list is Tattarang, which bought by listed competitor Euroz. [email protected] @AMarkBeyer the past decade. houses the rapidly expanding BGC Australia and ABN Group business interests of Andrew and have slipped down the list, reflect- 6-PAGE FEATURE Nicola Forrest. ing the slowdown in residential HANCOCK PROSPECTING Boost for the ANNUAL REVENUE $10.56bn state’s iron lady Hancock Prospecting Roy Hill Holdings $12bn Iron$7bn ore may dominate revenue $10bn at$6bn Hancock Prospecting, but its $8bn interests$5bn extend to copper, gold $6bn and$4bn agribusiness. $3bn $4bn $2bn $2bn $1bn 0 Matt Mckenzie [email protected] 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 @Matt_Mckenzie_30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Tattarang Byrnecut $1.6bn GINA$1.4bn Rinehart and the Hancock The mine and infrastructure $1.4bn family$1.2bn empire again top the list have the capacity to produce $1.2bn of Western Australia’s private 60 million tonnes per annum, $1.0bn $1.0bnROY HILL HOLDINGS businesses, according to Data & with plans to increase output to $800m $800m Insights. 70mtpa. $600mANNUAL REVENUE $600mWhile most of the company’s A new magnetic separator $$400m revenue$400m is generated by Hancock plant completed early in 2020 $200m Prospecting’s$200m 70 per cent share has helped improve yields at the Hancock Prospecting 6.40bnRoy Hill Holdings 0 of Roy Hill Holdings, there’s a mine, with Hancock saying it had $12bn 0 $7bn 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 variety of31-Dec-14 other interests31-Dec-15 in the31-Dec-16 helped31-Dec-17 recover31-Dec-18 4mtpa of31-Dec-19 iron ore $10bn $6bn portfolio, including Atlas Iron at Roy Hill previously wasted. DEVELOPMENT: Gina Rinehart has built the Hancock empire. $8bn $5bn Wilson Parking and Australian Outback Beef.ABN GroupRoy Hill committed about $400 $1.20bn $1.2bnRoy Hill, which mines and million of new capital during the $6bn $4bn ships iron ore from the Pilbara, year, and repaid all its original controls 12.5 per cent, and China $1.15bn$3bn $1.0bn $4bn had a big increase in revenue in loan syndication facilities, the Steel Corporation owns 2.5 per $1.10bn$2bn the 2020 financial year, up 24 per company said. cent. $2bn $800m $1bn cent to $6.4 billion. With the strong iron ore price $1.05bn $600m 0 0 That was significantly up on as a tailwind, Roy Hill earned an Expansive empire 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.00bn 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 the$400m $2.3 billion from FY2017, as after-tax profit of $2.2 billion, Hancock’s revenue was $10.6 $950m production$200m ramped up after first up 60 per cent, and paid its first billion for the 2020 financial Tattarang Byrnecut exports in December 2015. dividend of $475 million to the year, according to the company’s $900m 0 $1.6bn $1.4bn All that was as the iron ore owners. annual reports, and it had assets 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.4bn $1.2bn price lifted from about $US55 per Japan’s Marubeni Corporation of $21 billion. $1.2bn $1.0bn tonne around July 2016 to around holds a 15 per cent equity interest The company’s value has $1.0bn BGC Australia $US100/t in June 2020. Navitasin Roy Hill, South Korean Posco increased 24,000 per cent since $800m $800m $3.0bn $1.1bn 22$600m | February 1, 2021 February 1, 2021 | 23 $600m $2.5bn $1.0bn $400m $400m $2.0bn $900m $200m $200m 0 $1.5bn0 $800m 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 PB$1.0bn | February 1, 2021 $700m February 1, 2021 | PB Wilson Parking $500m ABN Group $600m $1.20bn $1.2bn0 $500m 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.15bn $1.0bn $1.10bn $800m $1.05bn $600m $1.00bn $400m $950m $200m $900m 0 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 BGC Australia Navitas $3.0bn $1.1bn $2.5bn $1.0bn $2.0bn $900m $1.5bn $800m $1.0bn $700m $500m $600m 0 $500m 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 FEATURE Private Companies HE Data & Insights database It had revenue of $1.45 billion construction and the restructur- governments across 10 countries. has recorded the revenue of last financial year, and that’s just ing at BGC. However, the private equi- FEATURE Big shifts TWestern Australia’s largest counting its dividends from iron Many businesses, such as DVG ty-backed business does not companies for many years and ore miner Fortescue Metals Group Automotive Group, Kailis Bros and disclose its annual revenue. highlights how rapidly the busi- and revenue from its agribusiness Pindan, have disappeared from the The ranking of companies would ness sector has changed. arm. list after being bought by big inter- change dramatically if different among WA’s Gina Rinehart’s Hancock Pros- Mining contractor Byrnecut national groups. metrics were used. pecting has achieved exponential does not have a high public profile Others, such as Sealanes, have Perron Group, for instance, is growth in the revenue it generates despite growing to be the state’s been absorbed by private equity ranked 13th by revenue. top players from its iron ore mines. fourth largest private business. investors and no longer release But with a large portfolio of shop- It is now well established as the Its biggest direct competitor, annual financial statements. ping centres, office buildings and state’s largest private company, Barminco, is now part of listed Fast-growing companies set to join other investments worth nearly $6 The ranking of WA’s largest helped in large part by the earnings company Perenti Global. the ranks of WA’s largest include veg- billion, it would jump to third if the from its subsidiary, Roy Hill Hold- Another company to have dis- etable producer and retailer Galati ranking was by total assets. private companies has ings, which is ranked number two. appeared from the list last year is Group, currently ranked number 18 Another example is investment Another relatively new entrant stockbroker Hartleys, having been with revenue of $402 million. company Wright Prospecting, Mark Beyer changed dramatically over to the list is Tattarang, which bought by listed competitor Euroz. Another rapidly expanding Perth which is ranked 24th by revenue. [email protected] @AMarkBeyer the past decade. houses the rapidly expanding BGC Australia and ABN Group business is APM, which employs With a net profit of $204 million EARNER: Iron ore mining is the biggest revenue generator for WA’s three largest private business interests of Andrew and have slipped down the list, reflect- more than 6,600 people delivering last financial year, it would rank companies. Photo: FMG 6-PAGE FEATURE Nicola Forrest. ing the slowdown in residential a wide range of human services for third on that criteria. In coal, Hancock funded per- decision to acquire S Kidman HANCOCK PROSPECTING Boost for the mitting work for development & Co was demonstrated during of Riversdale Resources’ Grassy the year, with flooding across ANNUAL REVENUE Mountain project in Alberta, the channel country notwith- $ state’s iron lady Canada. standing the severe four-year 10.56bn A partnership with Indian con- drought,” the company said.
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