24 October 2018
Auckland, 24 October 2018 – Technology Investment Network (TIN) has named HMI Technologies as the winner of this year’s TIN Rocket Award, announced at the 2018 TIN Report launch and gala awards event in Auckland.
The TIN Report monitors the performance of New Zealand’s 200 (TIN100 and Next100) largest technology exporters in the areas of Information and Communications Technology (ICT), High-tech Manufacturing and Biotechnology. It is sponsored by New Zealand Trade and Enterprise, Spark, EY, Absolute IT, James & Wells and Simmonds Stewart.
The TIN Rocket Award recognises the company that has gained the most places in the TIN200 rankings for the year. HMI Technologies, the second recipient of the annual TIN Rocket Award, climbed 44 places in the TIN200 ranks.
The firm designs and builds custom Intelligence Transportation Systems, including variable signage and autonomous vehicles. In the past year, it has secured a US$20 million joint venture with the City of Heshan in China to distribute its Ohmio electric shuttles. This deal contributed to the firm’s improved growth of $6.5 million in FY2018, the highest of any Next100 company. As a result, HMI Technologies also joined the Absolute IT Supreme Scale-Ups awards list in second place this year.
“HMI Technologies has shown remarkable growth in the past year,” said Greg Shanahan, managing director of TIN. “The market potential for autonomous vehicles is enormous; HMI Technologies’ recent Chinese joint venture places the company in an excellent position to target this potential to their full advantage.”
The 2018 TIN Report shows that turnover for New Zealand’s top 200 (‘the TIN200’) technology companies increased by 11% to reach $11.1 billion in the past year; the second billion-dollar growth result in three years and the driver behind a record profitability* rise for this group of companies.
Copies of the TIN Report are available in eBook or hard copy and can be ordered from www.tin100.com. More details on the 2018 TIN Report and a regional breakdown is available on https://tin100.com/media/
Absolute IT Supreme Scale-Ups 2018: The Next100 companies (ranked between 101-200 in the TIN200) with the largest revenue growth in the past year
The Absolute IT Supreme Scale-Up Companies list recognises the Next100 companies (ranked between 101-200 in the TIN200) with the highest dollar value increase in revenue in the past year. Included are companies that have provided revenue figures and achieved a minimum growth of 5%.
Notes to Editors
*Profit is measured as EBITDA unless otherwise stated
For more information please contact:
Media Enquiries: Kate Dobbin Mob. +64 21 522 103
kate.dobbin@tinetwork.com
Greg Shanahan, Managing Director, Technology Investment Network
Ph. +64 9 445 0362 Mob. +64 27 435 6045
greg.shanahan@tinetwork.com
About the TIN Report
The TIN Report is produced by Technology Investment Network with sponsorship from New Zealand Trade and Enterprise, Spark, EY, Absolute IT, James & Wells and Simmonds Stewart. The TIN Report is a critical reference for benchmarking the performance of New Zealand’s 200 largest globally focused technology companies. The size of the tech industry has grown significantly since 2005 and in recognition of this,TIN sent surveys to approximately 700 companies in 2018.
About Technology Investment Network
Technology Investment Network (TIN) is a private company established in 1999 to facilitate the growth of the technology export sector in New Zealand. The company’s goal is to contribute to the New Zealand economy by supporting the growth of, large, sustainable, New Zealand based, global technology businesses. For more information visit www.tin100.com