TECHNOLOGY INVESTMENT NETWORK NAMES EY TEN COMPANIES TO WATCH IN 2020 TIN REPORT

Auckland, 18 November 2020 – Technology Investment Network (TIN) has named the EY Ten Companies to Watch in this year’s TIN Report, announced today at its virtual, interactive launch event, Tech Pulse 2020. 

The EY Ten Companies to Watch list includes the TIN100 companies with the largest revenue growth in 2020. Now in its 12th year, the EY Ten Companies to Watch list has continued double-digit growth with 23.7% this year, increasing revenue by $633m to amass a combined $3.3B in revenue. This represents almost two thirds of the total growth for TIN200. 

Fisher & Paykel Healthcare tops the list for the first time this year, with revenue growth in 2020 of $193m, to reach a total revenue of $1.26B. This demonstrates how their strategy focused on innovation and product development is paying off, especially as demands for its products increased amidst the global COVID-19 pandemic.  

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, Absolute IT, BNZ, EY, James & Wells and NZX. 

“COVID-19 has highlighted the importance of adaptability and resilience, where a speed of transformation is critical, and businesses need to accelerate to capitalise on market opportunities.  This has clearly been the case for the EY Ten Companies to Watch,” said Andrew Moorby, Private Client Services and Transactions at EY Oceania.  

This year saw two new entrants to the EY Ten Companies to Watch list: Seequent and The Instillery.  

The 2020 TIN Report shows that export revenue for the TIN200 companies rose by 10.6% to a total of $9.4B this year.  TIN200 revenue reached $12.7B in 2020, slightly less than the $1B annual growth recorded in the previous years, but overall, the TIN200 shows ongoing strong growth in the face of tough economic headwinds. 

Copies of the TIN Report are available in eBook or hard copy and can be ordered here.  More details on the 2020 TIN Report and a regional breakdown are available here.