Carsales.com founder named 2009 Entrepreneur Of the Year
Friday, 13 November 2009 — Greg Roebuck, founder and Chief Executive Officer of online automotive classifieds carsales.com, has been named the Ernst & Young 2009 Australian Entrepreneur Of The Year at an awards ceremony held in Sydney last night.
Since launching the business in 1997, Roebuck has driven carsales.com to become Australia’s leading automotive, marine, motorcycle, construction and equipment classifieds business and carsales.com successfully listed on the Australian Stock Exchange in September this year.
Roebuck was awarded the prestigious title ahead of 30 other national finalists and will go to Monte Carlo next year to represent Australia at the 2010 World Entrepreneur Of The Year.
Ernst & Young Oceania Area Managing Partner and CEO Australia, Gerard Dalbosco, says as Ernst & Young Entrepreneur Of The Year, Greg Roebuck joins an elite group of business leaders in Australia and around the world.
“Entrepreneurs see the world differently to most business people. They see opportunities where others see challenges, adapting to changing markets with fresh ideas and new business models,” he says.
“This ability to see the world differently matters even more when, at times like these, economies are emerging from a downturn. Entrepreneurs drive growth; create jobs and wealth, making a significant contribution to the recovery and rebuilding of those economies and broader communities.”
Chair of the independent judging panel, Paul Cave – Chairman of BridgeClimb and 2001 Entrepreneur Of The Year winner – says the 2009 finalists were “outstanding” and included many “ground breaking business people and pioneers”.
“Greg Roebuck has shown absolute flair and executed his business model very well. Financially carsales.com is outstandingly successful – not many businesses are getting the profits they are delivering,” says Cave.
“He has taken car advertising into a whole new space.
“Greg recognised a need and grew an amazing business from the ground up. The business is totally customer focused which has been fundamental to its success.”
In addition to taking the overall Ernst & Young Entrepreneur Of The Year title, Roebuck was the category winner for Technology and Emerging Industries.
The other Ernst & Young Entrepreneur Of The Year category winners announced last night are:
Young Entrepreneur – Pankaj Oswal, Burrup Fertilisers
Services – Paul Constantinou, Quest Serviced Apartments
Products – Ray Borda, Macro Meats
Cleantech – Andrew Grant, CO2 Group
Listed – John Borshoff, Paladin Energy
Social – Andrew and Nicola Forrest, Australian Children’s Trust
Last night’s celebrations also recognised the outstanding achievements of four Australian business luminaries who were named Ernst & Young 2009 Champions of Entrepreneurship:
- leading fashion retailer and arts, science and education benefactor, Naomi Milgrom
- media owner and businessman Kerry Stokes AC
- wine industry leader and head of iconic Yalumba Wine Company, Robert Hill Smith
- Queensland property developer George Chapman
Additional comments from Paul Cave, Chair of independent judging panel:
“The 2009 finalists showcase the ability of entrepreneurs to find markets that others simply don’t think about. Entrepreneurs have this ability to find niches and actualise an opportunity that passes most people by and there were countless examples among the 2009 Entrepreneur Of The Year finalists.”
On overall winner Greg Roebuck
“Greg recognised a need and grew an amazing business from the ground up. The business is totally customer focused which has been fundamental to its success.”
“He really has pioneered something in a technical sense and made it so much more efficient than what previously existed.”
“Greg is an entrepreneur with tremendous vision and he is a very, very competent business person who gets the fundamentals right.”
On Social Entrepreneur category winners, Andrew and Nicola Forrest:
“They are doing some great work – 15,000 jobs have already been committed. This isn’t about money. Nicola and Andrew Forrest have committed time and effort to this, and Andrew has added his entrepreneurial vision and convinced a lot of other companies to commit to that vision.”
On Cleantech category winner, Andrew Grant, CO2 Group:
“Andrew is fuelled by a passion for nature and is making ‘green’ commercially viable, profitable and credible.”
On Services category winner, Paul Constantinou, Quest Serviced Apartments:
“Paul has created a new market niche, stayed focused on that and taken Quest from one serviced apartment business to the national brand it is today. He has been clever and stuck to his competitive advantage.”
On Listed category winner, John Borschoff, Paladin Energy:
“John is recognised as a leader in his field internationally. It is his knowledge and pure tenacity that have been fundamental to his business success.”
On Product category winner, Ray Borda, Macro Meats:
“Ray is a forward thinker. Innovation has underpinned his success and allowed him to take an Australian product to the world.”
On Young Entrepreneur category winner, Pankaj Oswal, Burrup Fertilisers:
“Pankaj impressed with his vision, which he maintained regardless of the obstacles. He has identified a market segment and created something that no-one else could.”
About the winners
Overall winner and Technology & Emerging Industries winner
Greg Roebuck, Carsales.com
After attempting to buy a car for his wife, Greg Roebuck was appalled by the inconsistency of the information provided in traditional classified advertisements. He launched Carsales.com in 1997 to provide automotive classifieds online, providing consumers with a greater volume of quality information in an accessible medium.
In 2002, Carsales.com pioneered a new pricing model, moving away from traditional classifieds to a much more accountable lead-generation model. Advertisers now only pay for each qualified lead generated. This was a defining moment for Carsales.com, underpinning his new motto of: “stop advertising, start selling!” At the same time, Greg introduced Australia’s first “pay once, list until sold” pricing model for private advertisers.
A few months later, Carsales.com acquired autobytel.com.au from the world’s largest online automotive business and gained its first automotive manufacturing/importing customer in GMH.
In 2007, Carsales.com acquired Red Book, providing enhanced consumer information including pricing and full vehicle specifications to enable detailed comparisons between vehicles as well as facilitating a platform for international expansion.
Carsales.com also offers value-add services to dealers and has recently launched its own media agency.
Today, Carsales.com is Australia’s leading automotive, marine, motorcycle, construction and equipment classifieds business, with over 24 websites. Carsales.com was the first company to make the BRW Fast 100 for five consecutive years (2002-2006).
The investors in Carsales.com’s 2000 capital raising paid 20c per share and have now received 32c in dividends and a 1750% capital increase. The business was listed on the ASX in September 2009, raising $163.6 million and giving it a market value of $811.8 million on listing.
Greg is passionate about the future and is looking to pursue offshore opportunities, particularly in Asia. He remains focused on the continued organic growth of Carsales.com, cementing its market leadership and continuing to diversify to ensure strong revenue growth.
Young Entrepreneur winner
Pankaj Oswal, Burrup Fertilisers
Of the many global parties who signed gas contracts to build petrochemical plants on the Burrup Peninsular, Burrup Fertilisers has been the only one to achieve success. Newly arrived to Australia and only 29 years old, but with a strong family background in business, Pankaj Oswal raised US$1 billion and persuaded local governments to support his dream of building a world-class ammonia plant in the north west of Western Australia.
Having initiated discussions in 2000 with the West Australian government, in April 2006, the new plant was successfully commissioned. Within one month, it reached design capacity of 2200 tonnes per day. In November 2007, the one-millionth tonne of ammonia was shipped. In June 2008, the first major shut down of the plant was completed on time and within budget, increasing production to 2,400 tonnes per day.
Today, Burrup Fertilisers is the operator of one of the world’s largest, single train merchant ammonia plants, with 125 employees in Australia and 300 worldwide via the Oswal Group Global Network. Burrup Fertilisers is considered a fierce competitor in the global ammonia market, with the lowest production costs of the product in South East Asia, while producing in excess of 4% of the world’s tradable ammonia.
The company has singularly shifted Australia’s position in the ammonia trade from an importer to an exporter. The plant’s success has allowed diversification into further supporting and expanding businesses, with Pankaj establishing the Oswal Group Global, including businesses in a vast range of sectors from power to lifestyle restaurants. Pankaj is also currently planning to construct a technical ammonium nitrate plant, thereby introducing further downstream processing facilities. He aims to repay debt from cashflows and then draw on his team’s expertise to develop further petrochemical projects in the region.
Services category winner
Paul Constantinou, Quest Serviced Apartments
Soon after commencing his hospitality career, Paul Constantinou recognised that the accommodation industry was failing to meet the needs of the extended-stay business travellers. Paul identified that the extended-stay business traveller preferred a stylish, spacious and well-appointed serviced apartment that gave the guest a true ‘home away from home’ experience. It did not take Paul long to realise his vision and in 1988 he opened the first Quest Serviced Apartment Business, Quest Royal Gardens.
His pioneering spirit and determination to capitalise on this unique concept has helped Quest Serviced Apartments (Quest) become Australasia’s largest network of serviced apartments with 127 properties in Australia, New Zealand and Fiji. Today, Quest is 100% franchised and its unique business format model is the benchmark for both the franchising and hospitality industries in Australia, winning numerous industry awards including the prestigious FCA Service Franchisor of the Year in 2007.
Products category winner
Ray Borda, Macro Meats
For over 20 years, Ray Borda has pioneered the global kangaroo meat industry. Having handled kangaroo meat in his pet food business in the early 1980s, Ray saw the quality of the meat and its potential. Ray had to create both the market and the infrastructure needed to support supply from scratch. Macro Meats worked closely with government to develop regulations for the kangaroo industry.
Then the public education campaign began. In 1989, the company published a recipe booklet and started working with chefs to raise awareness. In 2007, the company launched Macro Hides and Skins, which is now 30% of the business, attracting interest from global brands such as Adidas.
This was followed by the outback products concept store, Wild Oz, in 2008, which also sells other game meats and native herbs and spices. Today, Macro Meats controls the world’s largest retail distribution of wild game kangaroo meat. It is the exclusive supplier to Australia’s supermarket chains and a major exporter. To cope with demand, the company is about to start a $7.3 million processing facility upgrade to double its capacity.
Cleantech category winner
Andrew Grant, CO2 Group
Starting with no staff, no clients and just an idea, Andrew Grant has proved that carbon offsetting can be commercialised. In the mid-1990s, Andrew recognised the looming issue of carbon emissions and the potential for a company that could offer the market carbon offsets.
In the face of deep scepticism, he pioneered Australia’s carbon credits market, resulting in a highly successful business, the CO2 Group. Today, CO2 is the largest provider of dedicated carbon sink plantings in Australia, moving from a loss position in 2006, to a million dollar profit this year.
The company is a regular finalist in local and global environmental awards and has earned the respect of regulators, competitors and the market. It is firmly committed to innovation, with plans to invest $1 million in research and development in 2009.
Listed category winner
John Borshoff, Paladin Energy
In 1991, when his West German employer withdrew from the dying Australian uranium industry, John Borshoff acquired the company’s databases and used them to found Paladin Energy. When Paladin listed on the ASX in 1994, the geological, metallurgical and environmental data gave the company enormous credibility. John sees the years following Paladin’s listing as ‘character building’. To survive in a period where funding for resources, and particularly uranium, was almost impossible, Paladin diversified its activities into software and IT companies.
In 2002, Paladin purchased the Langer Heinrich Project in Namibia for A$15,000 and John waited patiently for two years until funds became available to grow his company. In January 2004, he was able to start building two uranium mines in Africa – the world’s first new conventional uranium mines in 20 years. Developing a uranium mine in Malawi was particularly difficult. The mine was the largest private investment in Malawi’s history, which would increase GDP by 10%. But the government had no precedent or framework to deal with the complexity of establishing this type of project, and John had to placate numerous, divergent interest groups. Despite the challenges, both mines proved successful. Today, Paladin remains the second largest pure play uranium mining company in Australia and Canada and the eighth largest mineral resource company in Australia. The company has a market capitalisation of $2.6 billion and employs 500 people. In addition to developing a strong pipeline of projects in Australia, John plans to expand Paladin into Africa, North America and Asia, taking advantage of the nuclear revival he expects in future decades.
Social Entrepreneur category winners
Andrew and Nicola Forrest, Australian Children’s Trust
Andrew is a Director and co-founder of the Australian Children’s Trust and his commitment to helping underprivileged children is well known. He has been at the forefront of initiating programs for the benefit of children across Australia and is the primary funder of the Trust, established with the philosophy of helping people to gain the skills to help themselves. This philosophy is also evident in the Australian Employment Covenant (AEC), an industry-led initiative of Andrew’s bringing together Indigenous people, employers and the Australian Government. The goal of the AEC is to place 50,000 Indigenous people into work with sustainable employment.
Nicola is a Director and co-founder of the Australian Children’s Trust. She is also a director of the Women and Infants Research Foundation (WIRF), which is one of Australia’s pre-eminent community-based research organisations. Dedicated to obstetrics, gynecology and newborn medicine, WIRF has a close working relationship with King Edward Memorial Hospital which is the sole tertiary level prenatal centre for Western Australia, and the School of Women’s and Infants’ Health of the University of Western Australia.
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