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Latvenergo keeps the status of Latvia’s Most Valuable Enterprise already ten years in turns

Today, on 10 October, the annual TOP101 of Latvia’s Most Valuable Enterprises made by Prudentia and Nasdaq Riga was announed during the press conference. AS Latvenergo already ten years in turns was declared the most valuable enterprise of Latvia. This year its value is 1,705 mld. euro. AS Latvenergo managed to keep the leading positions also in the Baltics taking the 3rd place in TOP10 of Baltics’ Most Valuable Enterprises

The total value of enterprises included in TOP101 2018 reaches 17.7 mld. euro that has increased by 0,9% when compared with TOP101 2017.  A slight reduction is observed in the value of Latvenergo, most valuable company in the list, that, irrespective of the considerably better financial indicators, is related with the mood in European finance and capital markets.

“In the scale of world and Europe, the industry moves towards global decarbonization and electrification which means the possibilities of new business breakthrough also in the Baltics. It’s known that those who first perceive and act innovatively are also the first who get success, show an example to others. When receiving the award, I’d like to emphasise that it wouldn’t be possible if Latvenergo didn’t have to ability to change. We take the way of changes that is measured not only in awards, but also in practical values – new products and digital services, higher operational efficiency. We receive these awards in new quality – with determination to be the most efficient company,” said Āris Žīgurs, Chairman of the Board of AS Latvenergo.

Within a year, since the high assessment in Baltic scale was received, the influence of the concern has continued to grow in the regional – Baltic and Northern Countries – electricity market. Riga thermoelectric power stations have a special role, ensuring the request for electricity several times during a year in the situation of regional deficit. No other plant in the Baltic States could do this in the period when the market was influenced by the complicated weather conditions and global price increase of resources.

2nd place in TOP 101 list is maintained by AS Latvijas valsts meži with 770,5 mlj. euro value of the enterprise. But AS Swedbank has climbed to 3rd place reaching the value of 664,2 mlj. euro. Full list of Latvia’s Most Valuable Enterprises TOP101 is available at the website top101.lv .

When characterizing the of Latvia’s Most Valuable Enterprises TOP101 during the last five years, Kārlis Krastiņš, Chairman of the Board of Prudentia explained that material increase of value of enterprises with private capital is observed in TOP101 that in total has increased by 6,5% annually over the last five years.  At the same time, the total value of enterprises with state capital has increased on averaged by only 3.3% annually that evidences that the enterprises in private sector were more successful in growing their value.

In the carving of industries, similarly as last year, the industry of financial services with the value of 2,6 mld. euro was the most valuable industry in TOP101 2018. 2nd place with the value of 2,3 mld. euro is occupied by the industry of transit and logistics, but 3rd place with 2,2 mld. euro is taken by the industry of utilities services showing an increase of 18%.

“In the historical TOP101 it was seen that the business environment of Latvia is able to adapt to difficult financial and geopolitical situations. In general the total value of the enterprises represented in TOP101 of this year evidences that, irrespective of the improvement of financial indicators of the enterprises, a stability of value of enteprises is observes in relations with the mood in European financial markets. We look in the future with the thought that the business environment of Latvia continues to develop which has a positive impact on financial parameters of enterprises and value of the enterprises and respectively – on the economic situation in Latvia,” said K. Krastiņš

 “Good management and successful work enterprise’s council is what rises also the value of enterprise, specially in the eyes of investors. Transparent, well-managed enterprise is more competitive because it can attract funding with less costs and broader possibilities of forms of funding,” emphasised Liene Dubava, Member of the Board of Nasdaq Riga. “Latvenergo is a bright example for this. Emitting the bond in the market, the enterprise has improved also its managements, become more transparent and was able to ensure the increase of business value over several years.”

The entry threshold to TOP101 this year has increased from 46,8 mlj. euro last year by 0,5% to 47,1 mlj. euro this year. Irrespective of the increase of value of enterprises represented in TOP101 by 0,9%, the GNP of Latvia has grown more rapidly – by 4,6% (in the actual prices – by 8%) which shows to more strained mood of investors in European financial markets, and potentially more rapid increase of small and medium companies that in the companies included in TOP101 list.

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Media contacts for more information:

Elina Morozļi

Prudentia, Administrative director

+371 22 332 028

elina.morozli@prudentia.lv

Dace Bulte

Nasdaq Riga, Corporate communication manager

+371 67 212 431

dace.bulte@nasdaq.com

2017: Latvenergo keeps the status of Latvia’s Most Valuable Enterprise showing a material increase in value 

Today on 18 October the annual TOP101 Latvia’s Most Valuable Enterprises made by Prudetia and Nasdaq Riga was announced during the press conference. Also this year, AS Latvenergo was recognized as the most valuable company of Latvia that showed an increase of value of 34% in top 2017 when compared with the previous year.

“Energy is very dynamic and a clearly defined and evident concern strategy – diversify the operation, acquire new markets and business areas by becoming a modern energy company – is very important in such circumstances. In other words, the essence of our strategy is – a step further. If previously we consolidated our positions in our traditional business segments that are traditional in the Baltic States, then now we are looking to the diversification of products, innovations, digitalization and new technologies. This is the way we have marked to further development and success,” said Aris Zigurs, Chairman of the Board of AS Latvenergo.

With a material increase of value, AS Latvenergo almost twice pulls ahead of the second most valuable company in TOP101 list – AS Latvijas valsts meži. First time in the history of TOP101 Latvia’s Most Valuable Enterprises, AS Latvijas valsts meži has moved to 2nd place reaching the assessment of EUR 893,1 Mio.

3rd place in TOP101 list is occupied by the leader of increase of value this year – SIA Mikrotīkls with the evaluation of  689,3 million euro that is by 65% more than in the previous year. SIA Mikrotīkls can be called the most rapidly growing company in Latvia because it has managed to step from 51st place to the 3rd one in the TOP101 Latvia’s Most Valuable Enterprises during 10 years, more than 11 times increasing its value.

“We make TOP101 already for 12 years and we are glad for such events in Latvian economics that have positively influenced also the total value of TOP101 Latvia’s Most Valuable Enterprises. During the last year it has increased from 15,7 billion euro to 17,6 million euro or by 12%. The increase in the processing industry in the field of industrial products of 34% must be especially highlighted. Latvenergo with a considerable increase of value has consolidated its position in the status of the most valuable company in Latvia and at the same time has become the third most valuable company in the Baltic States,” so with satisfaction said Karlis Krastins, Chairman of the Board of Prudentia.

“Long-term development of the company is closely related with the management practice and successful work of company’s council,” emphasised Daiga Auziņa-Melalksne, Chairman of the Board of Nasdaq Riga valdes priekšsēdētāja Daiga Auziņa-Melalksne. “During the last year, a considerable improvement in the management area of state-owned enterprises is achieved.  Transparency of companies, amount of the available information and consequently the reposting to society about the achieved results has improved. This, in turns, has facilitated more responsibility at council’s level and distancing of the government from these companies because independent members of the council must form at least half of the council in the largest state-owned companies. I think that the mentioned changes have facilitated a discussion about the importance of good management also in the private sector that increases the competitiveness of Latvia in general.”

TOP 101 of Latvia’s Most Valuable Enterprises is socially important initiative which 2006 is implemented by Prudentia and Nasdaq Riga. This initiative is based on a wish to initiate discussions in the society about the value of companies in correlation with good corporative management as one of the factors affecting the value. The list of the most valuable companies is created in cooperation with Firmas.lv. as the informative resource. From this year, information about the current results of Latvia’s Most Valuable Enterprises is available not only in TOP 101 informative resource top101.lv, but also in the Firmas.lv platform under companies profile.

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Media contacts for more information:

Elina Morozļi

Prudentia, Administrative director

+371 22 332 028

elina.morozli@prudentia.lv

Dace Bulte

Nasdaq Riga, Corporate communication manager

+371 67 212 431

dace.bulte@nasdaq.com

 

 

2016: Latvenergo remains the most valuable TOP101 company in Latvia

Today, on 12 October, the annual Prudentia and Nasdaq Riga TOP101 of the most valuable companies in Latvia was published. For the ninth time AS Latvenergo was recognized as the most valuable Latvian company. In the 2016 top its value reached 1 307.4 million EUR (  last year - 1 067.8 million EUR) showing an increase in value by 22% compared to the 2015 top. 

The 2nd spot among the most valuable companies in Latvia in 2016 was taken by AS Swedbank, while AS Latvijas valsts meži took the 3rd place.

Positive changes among the top 10 most valuable companies were shown also by AS Latvijas Gāze, which moved from number six to number four, showing an increase of value by 11% compared to 2015.

SIA Mikrotīkls also experienced a significant increase of value earning a spot among the first ten most valuable companies in Latvia by moving from 16th to 8th place on the TOP101 list. Its value in this year’s top reached 418.9 million EUR and it is about 55% more compared to the previous year’s estimate - 270.3 million EUR.

During the ceremony also the TOP10 most valuable companies in the Baltic states in 2016 were announced and honored. This top was headed by Swedbank Grupa for the third time in a row. The TOP10 list of the most valuable companies in the Baltic states is created for the third year. 

The Deputy Prime Minister, Minister of Economy Arvils Ašeradens honored the ceremony with his participation and congratulated the most valuable companies. The ceremony brought together the representatives of the most valuable companies in Latvia and the Baltics, financial experts and public opinion leaders.

This year the total value of the TOP101 most valuable companies in Latvia reached 15.7 billion EUR.  Positive changes were also observed in revealing information about the compliance with the corporate governance principles.

In the opening ceremony of TOP101, the Chair of the Board of Nasdaq Riga Stock Exchange Daiga Auziņa-Melalksne expressed her belief that the TOP101 most valuable companies in Latvia are the backbone of the Latvian and Baltic economy and a support for sustainable growth of our country. These companies create the most of gross domestic product. With increase of value of the Latvian companies comes development, new jobs and increased public welfare.

“Last year the total value of TOP101 companies was 15.7 billion EUR.  It has slightly dropped for the first time since 2010 and historically there is a correlation between the TOP101 and GDP values, although there is a difference in time,” Kārlis Krastiņš, Chair of the Board of Prudentia said regarding top trends. “In the context of the Baltics, I would like to turn your attention to the energy market, which continues to consolidate. Among other energy companies in the Baltic states, I would like to emphasize the good results of AS Latvenergo regarding the increase of value. The increase of AS Latvenergo value by 22% is significant, compared to AS Eesti Energia and AS Lietuvos Energia +5% increase in each case.” 

“Increase in company’s value is promoted by good corporate governance and shareholders’ ability to formulate and implement ambitious development goals. However, nowadays the ability to develop the technological potential and innovation has a significant role,” admitted Daiga Auziņa Melalksne, Chair of the Board of Nasdaq Riga.

In order to promote understanding, discussion and cooperation in the financial technology sector, the awarding of the most valuable businesses was followed by public debate: FinTech - threat or opportunity for the bank value. During the debate, industry leaders and FinTech experts discussed the challenges of the banking sector and the ability to adapt to rapid development trends in financial technologies and the impact it may have on the business value.

TOP101 most valuable companies of Latvia is an important public initiative, implemented by Prudentia and Nasdaq Riga since 2006. This initiative is based on the desire to encourage public debate about the value of companies in correlation with good corporate governance as one of the factors influencing the value. The purpose of the project is to strengthen the understanding of company value as a major milestone for further development. The list of the most valuable companies is created in cooperation with Kredītinformācijas Birojs (LV), Creditinfo (LT) and Krediitiinfo (EE). Information on the current and historical TOP101 most valuable companies in Latvia and Baltic TOP10 results are available on the top101.lv website. It is also possible to learn the opinions of industry experts and opinion leaders regarding the current events in the Latvian and Baltic business environment.

Gallery in non-commercial field.

Media contacts for more information:

Elina Morozļi

Prudentia, Administrative Director

+371 22 332 028

elina.morozli@prudentia.lv

Dace Bulte

NASDAQ Riga, Corporate Communications Manager

+371 67 212 431

dace.bulte@nasdaq.com

 

2015: Latvenergo holds the top spot among the 2015 Latvia's most valuable companies

The Latvia's most valuable companies TOP101 developed by Prudentia and Nasdaq Riga was published today. During the ceremony the award as the most valuable company in Latvia was received by AS Latvenergo. With the tenth anniversary of TOP101, a special prize for the Most rapid value growth in the ten years of TOP101 was awarded to AS Olainfarm.

The top positions among the 2015 Latvia's most valuable companies were maintained by AS Latvenergo and AS Swedbank. The value of both companies differs by less than one percent. In the current history of TOP101 no two competitors have been so close to each other. The third place was taken by AS Latvijas Valsts meži.

Significant increase of value in Latvia's most valuable companies TOP101 was seen by AS Olainfarm, who managed to reach top ten by climbing from the 16th to the 10th position.

During the awards ceremony, not only the most valuable companies in Latvia were announced and honored, but also the 2015 TOP10 most valuable companies in the Baltics. The Baltic most valuable companies TOP10 is built for the second year. Ahead of it remains Swedbank Grupa, followed by SEB Banka Grupa and Tallink Grupp.

Celebrating the tenth anniversary of TOP101, the companies, which always have remained in the top ten during these ten years, were honored: AS Latvenergo, AS Latvijas Valsts meži, AS Latvijas gāze, AS Lattelecom, AS Latvijas Mobilais Telefons.

In the past year, the value of the TOP101 companies has grown by 10.8% compared to 16.5% increase in the previous year. The company value growth trend has been positive for the past six years and the two last years have seen a significant increase in the growth rate. Positive changes can also been seen in the presentation of information concerning compliance with the corporate governance principles.

“This year is the ten year anniversary of the Latvia's most valuable companies TOP101. Ten years is a period long and interesting enough to draw more comprehensive and deeper conclusions. In ten years we have analyzed more than 4500 annual reports and acquired an impressive amount of knowledge, which allows to look for  correlations in the economy of Latvia and separate sectors, as well as to analyze company development,” the Chair of the Board of Prudentia Kārlis Krastiņš shares his observations.

TOP 101

“The Latvia's most valuable companies TOP101 upon reaching it first decade undeniably has become an important resource of information, which has provided entrepreneurs, industry experts and Latvian society in general with a great opportunity to obtain comprehensive insight into the growth, development and competitiveness of companies in Latvia,” admits Chair of the Board of Nasdaq Riga Daiga Auziņa-Melalksne.

Latvia's most valuable companies TOP101 is a socially significant initiative which has been implemented by Prudentia and Nasdaq Riga since 2005. This year the companies have been listed with the support of Kredītinformācijas Birojs (LV), Creditinfo (LT) and E-Business Register (EE). Kredītinformācijas Birojs is the only licensed credit information bureau in Latvia, which, similarly to Creditinfo, is a part of one of the major international credit information service provider groups.

Detailed results of the Latvia's most valuable company TOP101 and Baltic TOP10 are available at the website top101.lv. The website provides detailed results of this years' top and the historic results, as well the comments from various opinion leaders regarding the developments in the business environment in Latvia and the Baltics.

Gallery in non-commercial field.

Media contacts for additional information:

Elina Morozļi

Prudentia, Administrative Director

+371 67855120

elina.morozli@prudentia.lv

Dace Bulte

Nasdaq Riga, Corporate Communication Manager

+371 67 212 431

dace.bulte@nasdaq.com

TOP 101 galerija:

   

  

TOP 101 - 2014: Latvenergo Recognized as the Most Valuable Enterprise in Latvia

During the ceremony of Latvian Most Valuable Enterprises TOP101 Latvenergo was awarded as the Most Valuable Enterprise in Latvia. The ceremony, organized by Prudentia and Nasdaq Riga, took place already for the ninth year. Latvenergo was evaluated at 1.3 billion euros (last year - 1.127 billions). This year also the TOP101 new homepage www.top101.lv was presented to the public.

The leaders of the TOP101 Latvenergo and Swedbank Latvia have managed to hold their positions from previous year, however Latvijas Valsts meži (Latvia’s State Forests) has moved up to the third place.  Ventspils nafta (Ventspils Oil) ended up fourth, while the fifth place went to Latvijas Dzelzceļš (Latvian Railways). KRONOSPAN Riga made their debut in the top ten this year.

Detailed TOP 101 you can see here.

During the previous year the total value of the companies listed in TOP101 has risen by 16%. Latvian companies have experienced growth of their value for the past five years; however in 2013 the growth rate has increased. Three sectors in particular have experienced an increase in their assessments. Those are the processing industry, extraction of natural resources as well as financial services. Positive changes can also be witnessed in the evaluation of Corporate Governance practice.

This year a list of the Baltic TOP10 Most Valuable Enterprises in the Baltics was established. The award was handed to Swedbank Group, which unites its Latvian, Lithuanian and Estonian structures. It was evaluated at 3.2 billion euros. The award was presented by the President of the Republic of Latvia Andris Bērziņš.

Detailed Baltic TOP10 you can see here.

Nasdaq Riga special award for The Enterprise with the Biggest Share Price Increase was received by Valmieras stikla šķidra (Valmiera Glass Fibre). The price of its shares has risen by 96% during the past year. "Company has experienced rapid growth, and it has ambitious plans for further development. The rise of its share price clearly demonstrates that investors have appreciated company's performance and perspectives of development," noted Daiga Auziņa-Melalksne, Chairman of the Management Board, Nasdaq OMX Riga, AS.

Prudentia special award for The Capability of Executing an Ambitious Strategy in Agriculture Internationally was received by Agrolats Holding.

"Throughout the past few years Agrolats Holding has demonstrated itself as a successful company with an experienced team of shareholders and management. It is in the process of dynamic development in both starting and developing as well as selling and strengthening different agricultural projects both in Latvia and abroad," stated Kārlis Krastiņš, Chairman of the Management Board, Prudentia.

It is possible to find out detailed results of the Baltic TOP10 as well as Latvian TOP101 on the newly established homepage of the event www.top101.lv. It has been intended to serve as a valuable source of data and analysis. Homepage is available in Latvian, English and Russian.

 

Media contacts:

Elina Morozļi
Prudentia, Administrative Director
+371 22 332 028
elina.morozli@prudentia.lv

 

Dace Bulte
Nasdaq Riga, Communications Manager
+371 67 212 431
dace.bulte@nasdaq.com

TOP 101 2014 gallery:

 

 

Gallery in non-commercial field.

2013: Latvia's most valuable company TOP 101

Continuing the well established traditions which have started 8 years ago, Prudentia once again presents Latvia’s 101 most valuable enterprises in collaboration with NASDAQ OMX Riga and with informative support of Lursoft IT. One of the main purposes of this project is to raise awareness and start a discussion about Enterprise Values in Latvia.

Detailed TOP 101 you can see here.

The project which was carried out this year, assessed more than 600 companies based on their profitability and turnover, which had submitted their annual reports to the Register of Enterprises of the Republic of Latvia. Not only were the companies’ performance indicators analysed but also corporate governance risks and transparency by use of 15 different criteria measurements- including the political independence of the company, company’s executive body connection to shareholders and potential risks, etc.

The TOP 101 prepared by Prudentia and NASDAQ OMX Riga reflects Company’s value (Enterprise Value). The only exception is for banking and insurance companies where company’s value is determined by Equity Value.  

The list of Latvia’s most valuable enterprises (TOP 101) was announced on October 16 during the ceremony of National Capital awards which took place in the Art Museum Riga Bourse. There, representatives of the most valuable companies were greeted by the president of the Latvian Republic - Andris Bērziņš and the minister of Economics of the Latvian Republic - Daniels Pavļuts. For the sixth time in the history of TOP 101, Latvenergo was awarded the title of the most valuable enterprise in Latvia. This year the Enterprise Value of Latvenergo is 792.2 million Lats (last year it was 876.3 million Lats)

Prudentia's special recognition award for „The Development of innovative and sustainable international business” was given to Ltd. Mikrotīkls – a company which manufactures communication equipment and provides unique software solutions to its clients all around the world. The enterprise value of Ltd. Mikrotīkls reached 133 million Lats, showing a 35% increase in comparison to last year’s Enterprise Value.

Prudentia’s perennial partner NASDAQ OMX Riga gave an award for „The fastest growing listed company from the TOP 101” to JSC Olainfarm. JSC Olainfarm was not only the most traded company on Riga Stock Exchange, but it also had the largest stock price increase in comparison to other companies in the Riga Regulated Market.

The overall picture of this year’s TOP 101 shows that previous year’s TOP 101’s trend of market stabilization is continuing. As in the previous year, the total value of companies included in the TOP 101 has increased by 1%, from 8.5 billion Lats to 8.6 billion Lats respectively. Additionally, the value of the 101st company in the project also has increased, reaching 22.9 million Lats compared to 18.4 million Lats in the previous TOP 101. For the fifth year in a row, the leadership role of the top ten companies has been awarded to Latvenergo (with an Enterprise Value of 792 million Lats). Historically, changes in the order of the top ten most valuable companies were made by two or three newcomers from top twenty and top thirty, but this year the changes were made by one of the largest port service companies JSC „Rīgas Tirdzniecības Osta”. Indeed JSC „Rīgas Tirdzniecības Osta” has shown an increase of 99% in its enterprise value and has made a leap in the rating if compared to the previous TOP 101. The overall picture of this year’s TOP 101 indicated that the top ten companies have lost their value but at the same time the loss is compensated by an increase of the value for other companies in the TOP 101.   

Although the majority of companies in the TOP 101 have remained unchanged, there are two positive trends: there is a rise in the number of companies which have shown an increase in their Enterprise Value (up to two thirds); and the average growth rate was 42% in comparison to 28% in the last year's TOP 101. Moreover, the average decrease rate of companies’ values has remained almost unchanged. The most common types of sectors represented in the TOP 101 are financial services, transportation and logistics services, trade of consumer goods and manufacturing of industrial goods (more than 50% of companies in the top’s participants), but the leadership roles based on total value of sectors have remained unchanged only for financial services and transportation and logistics sectors. At the same time, the largest average Enterprise Value of one participant per sector was for representatives from natural resource extraction and utilities sectors (it was more than four times larger than the average value of one particular participant in the top). 

Based on the positive dynamics of Latvia’s gross domestic product (GDP), enterprises from cyclical industries are strengthening their position if measured by an increase of Enterprise Value. Another strengthening trend, which was also detected in previous year’s top, is that despite the fact that Latvia’s GDP growth in 2012 was nearly identical to GDP growth in 2011 and the total value of companies in TOP 101 has remained stable, the impact of relatively small enterprises on the Latvian economy  is increasing. 

 

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2012: Latvia's most valuable company TOP 101

Total value of Latvia's most valuable 101 companies at LVL 8.4 billion this year

15 October 2012

The total value of the 101 most valuable companies of Latvia is LVL 8.4 billion this year, according to a list of Latvia's 101 most valuable companies compiled by the investment banking company "Prudentia" and "NASDAQ OMX Riga" stock exchange in collaboration with "Lursoft IT".

Public relations expert Raimonds Locmelis told "Nozare.lv" that 25 companies had been added to the list this year, and as many have dropped from the list.

The full list of Latvia's 101 most valuable companies will be presented to the public at the "Riga Bourse" Museum on Wednesday, October 6. President Andris Berzins, Economy Minister Daniels Pavluts and management representatives from ten most valuable companies will participate in the event, as well as recipients of special awards and representatives from the companies that carried out the study.

The full list you can see here.

The ranking reflects the value of Latvian companies, which is important to not only the ranked companies but also the national economy on the whole - to banks, taxpayers and employees, said Locmelis. The assessment was done based on publicly-available information, therefore it may not be used in company mergers and acquisitions.

This year, 600 Latvian companies with largest profits and turnover were evaluated - twice as many as in 2011. Besides financial indexes, transparency of business models and management risks were also analyzed during the survey.

As reported, power utility "Latvenergo" was named the most valuable Latvian company last year for the third year in a row. "Swedbank" placed second, "Latvijas dzelzcels" railroad company third, "Latvijas Valsts mezi" (Latvian State Forests) fourth and "Latvijas Gaze" gas supply company fifth.

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2011: Latvia's most valuable company TOP 101

With an aim to highlight Latvian companies' increase of value and ranking, every year “NASDAQ OMX Riga”, investment banking company “IBS Prudentia” and business ideas magazine “Kapitāls” create Latvia's most valuable companies TOP 101.

In the study the enterprise values of the largest Latvian enterprises (enterprise value) are evaluated. The survey has been conducted since 2006, it is published in the magazine “Kapitāls” November issue.

View the full list of Latvia's most valuable companies TOP 101 - here.

The most valuable company in Latvia - “Latvenergo”

For the third year in a row the country's most valuable company was declared as “Latvenergo” with a business value of nearly 974 million lats.

In the National Capital Awards ceremony, where the latest results of the research were presented, the President of Latvia, Andris Bērziņš and managers of the most valuable companies participated.

Description: http://www.nasdaqomxbaltic.com/public/images/riga/kopbilde.jpg
Daiga Auziņa - Melalksne (NASDAQ OMX Riga) (from left), Ģirts Rungainis (IBS Prudentia), Egons Mednis (Elko Grupa), Jānis Komisars (Valsts nekustamie īpašumi), Māris Mančinskis (Swedbank), Jānis Romanovskis (Grindeks), Juris Gulbis (Lattelecom), Ainārs Ozols (SEB bank), Adrians Dāvis (Latvijas Gāze), Mārtiņš Barkāns (LETA), President Andris Bērziņš, Valērijs Terentjevs (Liepājas metalurgs), Agnis Buda (Kapitāls), Āris Žīgurs (Latvenergo), Uģis Magonis (Latvijas Dzelzceļš), Juris Pūce (State secretary of the Ministry of Economic Affairs), Juris Binde (Latvijas Mobilais Telefons). Photo: LETA.

The President of Latvia, Andris Bērziņš presented a special certificate to the company “Liepājas metalurgs” for the most significant amount of international investment among Latvian companies.

“IBS Prudentia” partner Ģirts Rungainis awarded the most valuable trading company in foreign markets - Elko Grupa.

“NASDAQ OMX Riga” Chairman of the Board Daiga Auziņa-Melalksne presented a special certificate to the company “Latvijas Gāze” - as the all-time most valuable company listed on the stock exchange in Latvia's most valuable company list.

National news agency LETA chairman Mārtiņš Barkāns gave a certificate to the company “Grindeks” for being the leader in the industry which is important for the state with international competitiveness.

 

The research methodology

Overall, more than 300 Latvian companies' financial performance and their management risks in 2010 were evaluated. Companies in the top 101 are sorted according to one single individual financial index, for instance, turnover or profit. In order to better reflect the current corporate business value in the respective sectors growth potential and risk profile assessment of similar public enterprises have been taken into account.

Corporate governance risks with a specially designed methodology were evaluated by the Stock exchange “NASDAQ OMX Riga”. These risks and the transparency of the current business model are a part of every company's value, and in this top 101 their impact on the assessment of individual companies was up to 15%.

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2010: Latvia's most valuable company TOP 101

Detailed TOP 101 you can see here.

"Latvenergo" named Latvia's most valuable company for second year in row

 

The power utility "Latvenergo" has been named Latvia's most valuable company for the second year in a row, following a research study conducted by the magazine "Kapitals" in cooperation with "IBS Prudentia" and "NASDAQ OMX Riga".

The value of the company is being estimated at LVL 1.0207 billion - 17.15% more than in 2009.

"Swedbank" has returned to second place, with value at LVL 400.96 million or 74.04% more than last year when it had plummeted to eighth position.

The Latvian railroad company "Latvijas Dzelzcels" has climbed up to third slot with its value set at LVL 385.96 million, even though the figure is 18.01% less than last year.

 

 

 

 

 

Slipping from second to fourth place is the cell telephone operator "Latvijas Mobilais telefons" with its value estimated at LVL 304.67 million or 37.76% less than in 2009.

Slipping from third position to fifth this year is the "Latvijas Valsts mezi" (Latvian State Forests) company with value at LVL 281.5 million. This is 30,15% less than in 2009.

The research study's sixth-place finisher is the phone company "Lattelecom" with its value at LVL 239.84 million or 6.48% less than last year.

The seventh most valuable enterprise is the natural gas utility "Latvijas Gaze", worth LVL 226.18 million. This is 20.21% down from the 2009 total.

The supermarket chain "Maxima Latvija" made eighth position this year with value at LVL 223.69 million - 4.46% more than last year.

"Tele2" is rated ninth this year (LVL 212.67 million, down 21.94%) and the public transportation company "Rigas satiksme" (LVL 173,25 million) tenth. The latter was in 11th place in 2009.

Gallery in non-commercial field.

2009: Latvia's most valuable company TOP 101

30 October 2009

RIGA, Oct 30- According to a survey carried out by the Latvian business magazine "Kapitals", the "NASDAQ OMX Riga" exchange and the investment banking company "IBS Prudentia", joint-stock power utility "Latvenergo" has become Latvia's most valuable company.

Detailed TOP 101 you can see here.

On the other hand, last year's most valuable company - "Swedbank", has fallen to eighth place in the list.

According to the "TOP 101" list of Latvia's most valuable enterprises, the value of "Latvenergo" has reached LVL 871.3 million, which is 30.48 percent more when compared to 2008, when the energy company was in second place with a value of LVL 667.75 million.

Mobile telecommunications operator "Latvijas Mobilais telefons" is second in the list, with a value of LVL 489.47 million, which is 4.02 percent less than last year, when the company was fifth on the list with a value of LVL 510 million.

Joint-stock company "Latvijas Valsts mezi" (Latvian State Forests, LVM) has been recognized as Latvia's third most valuable company, with a value of LVL 403.1 million, which is 34.35 percent less than in 2008, when the company was valued at LVL 613.83 million

State-owned joint-stock railroad company "Latvijas dzelzcels", which was the 12th most valuable company in Latvia in 2008, has moved up to fourth place on the list this year, with a value of LVL 327.06 million, or 54.67 percent more than in 2008.

Joint-stock gas supplier "Latvijas Gaze" is fifth with a value of LVL 283.45 million. Last year, the company was the tenth most valuable enterprise in Latvia, with a value of LVL 248.61 million.

Another mobile telecommunications company - "Tele2" is sixth on the list with a value of LVL 272.45 million, which is 14.73 percent less than in 2008, when the company was seventh on the list.

Telecommunications company "Lattelecom" is the seventh most valuable company in Latvia, with a value of LVL 256.45 million, which is 18.78 percent less when compared to 2008, when the company's value was LVL 315.75 million.

Last year's leader "Swedbank" is the eighth most valuable enterprise in Latvia, with a value of LVL 230.39 million this year, which is 73.64 percent less than in 2008, when the company was valued at LVL 873.88 million.

Joint-stock "Latvian Shipping Company" ("Latvijas Kugnieciba"), which was the 11th most valuable company in Latvia last year, has moved to ninth place this year with a value of LVL 226.91 million, which is only 0.67 percent less than last year.

Supermarket chain "Maxima Latvija" is the tenth most valuable company in Latvia this year, with a value of LVL 214.15 million. In 2008, the company was in 17th place, with a value of LVL 157.6 million.

Dropping out of the top ten this year are three banks - "SEB Banka", from fourth to 12th place, "Parex banka", from sixth place last year to not even making the "Top 101" this year, and "Rietumu Banka", from 9th last year to 23rd this year.

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