In 2019, before the COVID-19 pandemic shut down the economy, many B.C. industries were beginning to show signs of slowing.
However, that was not the case for the province’s largest construction companies, as the top 20 increased both their B.C. billings and B.C. employment last year, according to data collected on Business in Vancouver’s Biggest Construction Companies in B.C. list (page 10).
The B.C. billings of the top 20 firms grew an average of 19.9% in 2019 compared with 2018. ETRO Construction Ltd. (No. 18) recorded the largest one-year increase in 2019, up 120.7% to $68.3 million in 2019 from $30.9 million in 2018.
No. 17 Kinetic Construction Ltd. had the largest one-year decline in its total B.C. billings. It dropped 30% to $73.9 million in 2019 from $105.4 million in 2018.
The average 2019 B.C. billings of the top 20 construction companies was $259.2 million, up 22% from 2018’s average of $212.4 million.
The median B.C. billings grew even more: 29.1% to $152.8 million in 2019 from $118.4 million in 2018. This suggests that smaller construction companies lower on the list grew more than larger companies higher on the list.
Over the past five years, B.C. billings for the top five construction firms have jumped 67.7%. Axiom Builders Inc. (No. 2) had the largest five-year increase, more than doubling at 168.2% to $531 million in 2019 from $198 million in 2015.
Despite being B.C.’s largest construction firm, the Ledcor Group of Companies posted the smallest one- and five-year growth in the top five. Its B.C. billings have increased 1.7% since 2015 and have remained stagnant over the past year.
Companies on BIV’s top 20 list increased their revenue an average of 10.6% over the past year to $1.49 billion.
ETRO Construction recorded the largest one-year revenue increase. It more than doubled to $68.9 million in 2019 compared with $28.3 million in 2018.
Meanwhile, B.C. employment at the province’s top construction companies increased an average of 11.5% in 2019 compared with 2018, but that growth slowed to 5.8% in 2020.
Carlson Construction Group (No. 13) reported the largest one-year employment increase among the top 20: 41.7% to 170 employees in 2020 compared with the previous year.
