Australia's Leading Companies Below a Billion: Ranging from Electric Vehicle Chargers to Online Skincare Retailers
Australia has once again proven its business prowess, with fifteen local companies making it onto Forbes Asia's prestigious Best Under a Billion list for 2022. The list, which features 200 publicly listed companies in the Asia-Pacific region with annual sales between $10 million and $1 billion, recognises companies with strong sales and earnings growth, low debt, and high return on equity.
Atlas Pearls, an integrated pearl farming operation based in Western Australia, is one of the Australian companies on the list. Atlas Pearls operates eight pearl farms across Indonesia, managing everything from hatchery to retail.
Other Australian companies on the list include Fiducian Group, a diversified financial services company founded by Indy Singh in 1996. Netwealth Group, founded in 1999 by Michael Heine and his family, offers a fintech and wealth management platform with a focus on managed accounts, investment research, and administration for financial advisers and investors.
Jumbo Interactive, a Brisbane-based digital lottery business, operates OzLotteries.com, one of the leading digital lottery platforms in Australia. Lycopodium, an engineering and project management consultancy headquartered in Perth, is known for its work in mining project development.
IPD Group, an industrial electrical distributor and service provider, specialises in circuit protection, automation, and power monitoring systems. Universal Store Holdings, a youth-focused fashion retailer, operates more than 80 stores nationwide and has successfully integrated online and physical retail, owning emerging brands like THRILLS and Perfect Stranger.
EZZ Life Science Holdings, a Sydney-based company founded in 2020, focuses on genomic research and health supplements, targeting areas like longevity, immunity, skincare, and gut health. Pro Medicus, a Melbourne-based tech company, develops medical imaging software and has gained global traction with its Visage Imaging platform, serving major hospitals and imaging centres in the US and Europe.
Vysarn, a water services company based in Western Australia, focuses on hydrogeological drilling and dewatering for the mining sector, particularly for iron ore and lithium miners who need water management solutions. PWR Holdings, headquartered on the Gold Coast, is a world leader in advanced cooling solutions for the motorsport industry, supplying custom-built radiators and intercoolers to teams in Formula 1, NASCAR, and Supercars.
Clinuvel Pharmaceuticals, a Melbourne-based biopharmaceutical company, is best known for its novel treatment for rare skin disorders. XRF Scientific, based in Perth, manufactures and supplies precision instruments and chemicals used in analytical laboratories, serving clients in the mining, construction, and environmental testing industries.
Supply Network, now operating under the name Multispares, specialises in aftermarket parts for commercial vehicles and has grown by serving the maintenance needs of freight and logistics operators.
The most valuable company on the entire Best Under a Billion list was Australian med tech Pro Medicus, with a valuation of $20.89 billion. Australia placed seventh behind China, India, Japan, Taiwan, South Korea, and Thailand in terms of number of firms on the list.
While the profiles and industries of the 15 Australian companies that made the list are not extensively covered in recent articles and summaries, they are typically from industries like financial services, resources, technology, and healthcare. For those seeking detailed company names and profiles for the 2022 cohort, consulting the official Forbes Asia archive or report for 2022 would be necessary.
- Fiducian Group, a diversified financial services company based in Australia, and Netwealth Group, offering a fintech and wealth management platform, are both involved in the business of finance and investing.
- Pro Medicus, a Melbourne-based tech company from Australia, and XRF Scientific, which manufactures precision instruments and chemicals, showcase the intersection of technology and business in the Asia-Pacific region.
