15 Largest Australian Companies by Revenue

Published on January 28, 2023 at 1:49 pm by Insider Monkey Team in Lists, News

In this article, we take a look at 15 largest Australian companies by revenue.

Australia is one of the most developed nations in the world with an average income per capita higher than that of many leading nations. In 2021, for example, Australia had a GDP per capita of $60,443.11, exceeding Canada’s $51,987.94 per capita and Britain’s $46,510.28 per capita. With its population of 25.69 million, Australia has a GDP of $1.553 trillion for 2021.

Australia also has a resilient economy. According to IMF estimates made in April 2022, Australian GDP is expected to be potentially 6.7% larger at the end of 2022 than it was in prepandemic 2019. Meanwhile, the average advanced economy at the end of last year is expected to be 3.7% larger than prepandemic 2019.

Given that U.S. interest rates have risen substantially since the IMF’s estimates in April 2022, global growth rates are likely to be slower than the IMF’s original estimates in April 2022.

Nevertheless, Australia’s economy is still expected to grow by around 4% for 2022, 2% for 2023, and 1.5% for 2024 according to RBA forecasts in December 2022. The nation is also expected to grow faster than many developed economies this year.

One reason for Australia’s strong economy is that it is in the Asian Pacific which allows it to trade with growing Asian economies easier. The Australian Trade and Investment Commission writes, “Asia’s share of global GDP has increased steadily from 20% in 1981 and is projected to reach almost 45% in 2026. Australian trade stands to benefit. Most of Australia’s principal export partners are located in Northeast Asia and Southeast Asia. A network of 16 free trade agreements gives Australian companies preferential access to these fast-growing markets. Australia is well positioned to grow its resources, energy, agriculture, and education and tourism services exports in the Asia region. This is because Asia’s middle class is growing strongly, and is expected to include 2.2 billion consumers by 2032.”

For those of you interested check out 16 Largest Indian Banks by Assets.

Given its economy is considerable and growing, some leading Australian companies also have substantial scale in terms of their annual sales. Some of the leading Australian companies are mining companies given mining is a big sector economically. Some leading Australian companies are also supermarkets given the industry in the country is dominated by two major firms.

Methodology

For our list of 15 Largest Australian Companies by Revenue, we used companiesmarketcap.com’s top publicly traded Australian companies by revenue list.

We ranked each company by their sales according to companiesmarketcap.com which lists the revenue in U.S. dollars.

Because many Australian companies that aren’t international make most of their revenue in Australia, their sales are in Australian dollars. If the value of the Australian dollar declines versus that of the U.S. dollar, the revenues of many Australian companies will decline in U.S. dollar terms, all else equal. If the Australian dollar appreciates in value versus the U.S. dollar, many Australian companies might have more revenue in U.S. dollar terms assuming everything else is the same.

The change in the Australian dollar versus the U.S. dollar depends on many different factors that change constantly.

15 Largest Australian Companies by Revenue

15. Origin Energy

Revenue: $9.89 billion

Origin Energy is an energy company based in Australia that engages in the exploration and production of natural gas and the sale of liquefied natural gas. Origin Energy also produces electricity and engages in the wholesale and retail sale of electricity and gas. The company’s projects include the Surat and Bowen basins in Australia’s Queensland. Given demand increases and supply decreases due to the Russia Ukraine war, Origin Energy’s LNG sales have increased. For the quarter ended September 30, 2022, the company’s Australia Pacific LNG sales rose 64% versus the corresponding quarter in 2021 to A$2.768 billion.

According to companiesmarketcap.com, the company has a revenue of $9.89 billion in the four quarters of 2022.

14. CSL

Revenue: $10.49 billion

CSL is a leading Australian biotech company with a portfolio of medicines that treats some immune deficiencies as well as vaccines that help prevent influenza. Unlike some other leading Australian companies, CSL gets a substantial part of its sales internationally. In terms of its biggest division, CSL Behring, whose products include plasma therapies, North America accounted for 49% of the division’s $8.6 billion in sales in fiscal year 2022 while the EU/UK accounted for another 24%. Meanwhile the Asia Pacific region accounted for 21%.

13. Metcash

Revenue: $10.71 billion

Metcash is a leading wholesale distribution and marketing company with a diversified business across the food, grocery, hardware and liquor sectors in Australia. For the half year ended October 31, 2022, the company’s group revenues rose 8.2% year over year to A$7.7 billion and the company’s underlying profit after tax increased 9.1% year over year to A$159.9 million. CEO Doug Jones said, “It has been another pleasing half for Metcash with strong sales and earnings growth in the face of higher inflation and while cycling the impact of extensive lockdowns in 1H22. Importantly, the business continued to build on its record performances post the onset of COVID, achieving exceptional growth over the past three years in all pillars.”

12. Viva Energy

Revenue: $11.52 billion

Viva Energy is a leading Australian refiner that provides fuel and specialty products under the Shell, Liberty, Westside Petroleum and Viva Energy brands. The company refines crude oil into products like petrol, diesel and also jet fuel. According to companiesmarketcap.com, Viva Energy had total revenue of $11.52 billion in Q1 through Q4 of 2021. Given oil and gas prices in 2022 have increased from 2021, Viva Energy’s 2022 results could be even higher.

11. National Australia Bank

Revenue: $11.93 billion

National Australia Bank is one of Australia’s largest banks with sales of $11.93 billion in 2022 according to companiesmarketcap.com. In its third quarter, the bank’s cash earnings rose 3% compared with its first half 2022 quarterly average. In terms of its results, Australia’s low unemployment and healthy household and business balance sheets helped mitigate the impacts of higher inflation and higher interest rates. If Australia’s economy continues to grow and the bank maintains its market share, National Australia Bank’s revenues will likely increase in the future.

10. ANZ

Revenue: $12.33 billion

ANZ is one of the four major banks in Australia by total assets and also the largest bank in New Zealand by total assets. The bank operates in over 32 markets across Australia, New Zealand, Asia, and other geographies. The company announced an audited statutory profit after tax for the full year ended September 30 2022 of A$7.119 billion, up 16% year over year. For the period, ANZ had a cash return on equity of 10.4% and its common equity tier 1 ratio was 12.3%.

In 2022, ANZ expanded by agreeing to buy Suncorp Bank. ANZ Chief Executive Officer Shayne Elliott said, “The acquisition of Suncorp Bank will be a cornerstone investment for ANZ and a vote of confidence in the future of Queensland. With much of the work to simplify and strengthen the bank completed, and our digital transformation well-progressed, we are now in a position to invest in and reshape our Australian business. This will result in a stronger more balanced bank for customers and shareholders.”

9. BlueScope Steel

Revenue: $13.06 billion

BlueScope Steel is a global steel company that’s headquartered in Australia. For FY2022, the company had net profit after tax of A$2.81 billion and underlying EBIT for the year was A$3.79 billion given strong demand. Although a global recession might weaken demand in the near term, countries like India will still need a lot of steel to continue to grow their economies in the decades ahead.

8. Telstra

Revenue: $14.39 billion

Telstra is an Australian telecom company that provides broadband internet, mobile phones, 5G and on demand streaming services. In terms of 2022, Telstra continues to make progress in its 5G rollout and also boost its capacity, speed and coverage of its mobile network. In terms of its network, Telstra has Australia’s largest mobile network covering over 2.6 million square kilometers of land.

7. Ampol

Revenue: $15.52 billion

Ampol is an Australian energy company that supplies Australia’s largest branded petrol and convenience network, as well as refining, importing, and marketing fuels and lubricants. In terms of 2021, companiesmarketcap.com calculates that Ampol had sales of $15.52 billion. In terms of the first half of 2022, total fuel sales grew by 4.0% in the half as the recovery in jet demand and addition of Z Energy fuel sales offset lower international sales and weaker retail demand.

6. Commonwealth Bank of Australia

Revenue: $16.46 billion

Commonwealth Bank of Australia is a leading provider of integrated financial services in Australia. Commonwealth Bank of Australia, also known as CommBank, provides retail and commercial banking services across Australia and New Zealand and is among Australia’s top four lenders.

For the year ended June 30, 2022 the company had revenue from ordinary activities of A$25.143 billion, up 3% year over year. The bank also had a net profit after tax of A$9.673 billion, up 9% year over year. Net interest margin was 1.90% and the bank had a common equity tier 1 capital ratio of 11.5%.

5. Fortescue

Revenue: $17.31 billion

Fortescue, otherwise known by its official name as Fortescue Metals Group Ltd, is a leading miner of iron ore in Australia. Established in 2003, Fortescue is a West Australian company that is one of the world’s lowest cost iron ore producers. Given increases in production, the company is shipping at an annual rate of more than 180 million tonnes. Since 2008, Fortescue has delivered more than 1.7 billion tonnes of iron ore delivered to its customers, many of whom are in China, Japan, and South Korea. With revenue of $17.31 billion in 2022 according to companiesmarketcap.com, Fortescue ranks #5 on our list of 15 Largest Australian Companies by Revenue.

4. Wesfarmers

Revenue: $25.23 billion

Wesfarmers is a leading Australian conglomerate that has home improvement, apparel and general merchandise, office supplies, and other operations. For the year ended June 30 2022, the company’s sales rose 8.5% year over year to A$36.838 billion. If Australia’s economy continues to expand, and Wesfarmers maintains its market share, the company’s sales could likely grow further in the long term.

3. Coles Group

Revenue: $27.08 billion

Coles Group is a leading Australian retailer with more than 2,500 retail outlets nationally including over 800 super markets. The company also has an e-commerce business. In terms of scale, the company is Australia’s second largest supermarket chain, ranking only behind Woolworths Group. Together, Coles Group and Woolworths Group sell around two thirds of Australia’s groceries.

2. Woolworths Group

Revenue: $41.86 billion

Woolworths Group ranks #2 on our list of 15 Largest Australian Companies by Revenue given the company had revenue of $41.86 billion for 2022 according to companiesmarketcap.com. Woolworths Group is Australia’s largest retailer. For the 14 weeks to October 2, 2022, which is the first quarter of the company’s financial year 2023, the company had group sales of A$16.363 billion, up 1.8% year over year versus first quarter of fiscal year 2022.

Woolworths Group CEO Brad Banducci said, “While year on year sales growth rates were impacted by the cycling of COVID in the prior year, customer shopping behaviours and the trading environment continued to normalise during the quarter. Pleasingly, customer scores have improved compared to H2 F22 but remain a key focus in the lead up to Christmas. In our Food businesses, sales were below the prior year as we cycled strong growth driven by COVID-related restrictions in F21 and F22. Australian Food sales decreased by 0.5% and New Zealand Food sales were down 2.5% compared to the prior year. On a three-year compound annual growth basis, sales in Australian Food were up 5.3% and up 4.7% in New Zealand Food.”

1. BHP Group

Revenue: $65.09 billion

BHP Group ranks #1 on our list of 15 Largest Australian Companies by Revenue given its revenues of $65.09 billion for 2022 according to companiesmarketcap.com.

BHP Group is a leading Australian miner that gets the majority of its sales from iron ore, copper and coal. According to Statista, iron ore accounted for $30.767 billion of BHP Group’s revenue in 2022, copper accounted for $16.849 billion, and coal accounted for $15.549 billion.

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