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Australian companies record 3rd highest growth rate in Deloitte Technology Fast 500 Asia Pacific 2010 Ranking


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16 December 2010: Australian companies achieved the third highest growth rate on average in the Deloitte Technology Fast 500 Asia Pacific 2010 Ranking, which recognises technology companies (public and private) that have achieved the fastest rates of annual revenue growth in the region during the past three years.

The average growth rate for the last three years for Australian companies listed in the top 500 was 440%, slightly behind second-placed China (444%) and first-placed Taiwan (498%).

Australia also ranks third in number of companies listed in the top 500 (was fifth in 2009) with 62 companies (up by two from 2009), behind first-placed China (147), which dethroned second placed Taiwan (86) on the top of the list. Australia also improved on the number of companies listed in the top 100 from 10 in 2009 to 15 in 2010.

Australian Internet company, Vocus Communications, placed second in the Asia Pacific Technology Fast 500 with an 11,305% growth rate in the last three years. Another local internet company, Hotels Combined, was ninth, with a growth rate of 1,925% in the last three years. The inclusion of two Australian companies in the top 10 is an improvement on 2009 when the highest ranked Australian company was listed in 14th position.

First placed went to Giga Solar Materials of Taiwan, a semiconductors, components and electronics firm specialising in film metallisation pastes, which an extraordinary 24,694 percent growth rate in the last three years.

Of the 62 Australian companies listed, 23 are software related, 23 internet (up six companies from 2009), 11 in telecommunications/networking, three in biotech/pharmaceutical/medical equipment, and two in computers / peripherals.

The dominant software sector saw most of its contributions from China (40) and India (33), although the latter provided only half the number it offered in 2009. Again, Taiwan supplied the most semiconductors, components and electronics companies (50) – as in the previous three years – while Australia boasted the most Internet companies (23). Green Technology was represented mostly by China (15) and Taiwan (5), while South Korea supplied the most companies in the computers/peripherals sector (23).

Of the Technology Fast 500, nearly 60 percent or 298 firms are privately owned, while 40 percent or 202 firms are publicly listed. The number of private firms increased slightly this year from 291 in 2009.

Damien Tampling, Deloitte’s Technology, Media and Telecommunications lead Partner in Australia, said it was encouraging to see Australia improved its standing in a number of key areas in the Technology Fast 500 Asia Pacific 2010 Ranking.

“It has been a great year for Australian technology companies,” Mr Tampling said.

“The fact that two [companies] made the top ten is indicative of the progress the sector has made in recent times. And to have 15 Australian companies in the top 100 is also a great result, given the very competitive nature of the industry,” Mr Tampling said.

“Internet and software companies dominated Australia’s presence. In fact, Australia leads in the number of internet companies with 23, followed by China with 13.

Mr Tampling said revenue growth across the Fast 500 ranked firms grew 374 percent this year, buoyed by demand for green technology as well as the economic rebound in the region.

“China dominated the green technology sector with 15 companies, or 57 percent of the total 26 green technology companies. China has 147 firms in the top 500, more than double the amount it recorded in 2008 (72) and half the companies in the top 20. It also topped several sectors.”

For more information, please download the media release below.

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