Dynamic Business: Movement in the Top 10

Fonterra (ranked first) had a revenue increase of 1.4 per cent. Photo / John Stone

The high-level view of the 2021 Deloitte Top 200 Index shows an increase in total revenue from $190,618m in 2020 to $191,527m in 2021 — an increase of 0.5 per cent. This compares to a 1.6 per cent increase in 2020.

Underlying earnings (ebitda) increased from $24,803m in 2020 to $26,374m in 2021. This is an increase of 6.3 per cent, compared to a 7.3 per cent decrease in 2020.

The ebitda margin, an assessment of operating profitability as a percentage of total revenue (total ebitda/total revenue), increased slightly between 2020 (13.0 per cent) and 2021 (13.8 per cent).
Total profits after tax have increased from $6505m in 2020 to $7910m in 2021. This is a 21.6 per cent increase year on year, compared to a 37.3 per cent decrease in 2020.

Net profit margin (profit after tax/total revenue) increased between 2020 (3.4 per cent) and 2021 (4.1 per cent).

Total assets have increased from $253,333m in 2020 to $264,759m in 2021, which is a 4.5 per cent increase, compared to a 9.6 per cent increase in 2020.

The number one spot on the Top 200 Index has been held by Fonterra since its formation in the early 1990s. Fonterra's revenue increased by 1.4 per cent during the year to reach $20,565m. This increase is mainly due to increased sales volumes.

EBOS Group has maintained its number two ranking, increasing its revenue by 7.0 per cent from $9,241m in 2020 to $9,886m in 2021.

EBOS Group's increase in revenue is attributed to growth in its community pharmacy, institutional healthcare, contract logistics and animal care businesses. The revenue gap between the top two companies has remained fairly constant, slightly decreasing by 3.3 per cent, as Fonterra (ranked first) had a revenue increase of 1.4 per cent.

Fletcher Building's (ranked 3rd) revenue has increased by 11.1 per cent from $7,309m in 2020 to $8,120m in 2021, which is a recovery on a drop in revenue of 12.0 per cent in 2020 compared to 2019, which caused it to slip from second in 2019 to third in 2020.

The top 10 has seen some movement in 2021, with Meridian Energy re-entering in sixth place (previously 10th place in 2019 and 11th place in 2020).

Zespri has moved up to seventh place from 12th place in 2020, and Mainfreight now occupies 10th place compared to 15th place in 2020.

These movements in the top 10 see Z Energy moving down from fifth place in 2020 to 11th place in 2021, Air New Zealand moving down from sixth place in 2020 to 17th place in 2021, and BP moving down from eight place in 2020 to 15th place in 2021.

The 200th ranked entity on the Top 200 Index in 2021 is Aurecon, a newcomer to the index, with revenue of $189m.

Last year's 200th ranked company, Airwork, had revenue of $200m. This is a 5.4 per cent decrease in revenue between 200th ranked companies year on year.