TOP 101 | Top101.lv

TOP 2009	TOP 2008	Company name	Value 2009	Value 2008	Change	Turnover 2008	EBITDA 2008	CorpGov Score	Industry
78	20	TRASTA KOMERCBANKA, AS	26.18	158.44	-83%	278.9	33.4	74	Banks and financial services
44	13	AIZKRAUKLES BANKA, AS	62.48	285.76	-78%	982.1	75.1	67	Banks and financial services
13	4	SEB BANKA, AS	212.97	865.74	-75%	3383.8	274.7	97	Banks and financial services
8	1	SWEDBANK, AS	327.81	1243.42	-74%	5496.1	572.8	94	Banks and financial services
23	9	RIETUMU BANKA, AS	110.49	379.22	-71%	1102.9	132.1	61	Banks and financial services
46	23	GE MONEY BANK, AS	50.14	143.69	-65%	253.0	58.6	81	Banks and financial services
61	33	LTB BANK, AS	36.64	91.45	-60%	327.3	42.0	91	Banks and financial services
22	14	DNB NORD BANKA, AS	113.06	269.56	-58%	2190.1	148.4	86	Banks and financial services
48	32	NORVIK BANKA, AS	48.19	92.05	-48%	505.7	57.0	75	Banks and financial services
81	59	MERKS, SIA	25.55	46.31	-45%	40.1	3.0	67	Construction services and materials
57	40	SKONTO BŪVE, SIA	40.88	71.33	-43%	61.5	5.1	34	Construction services and materials
40	26	ALDARIS, AS	67.41	115.07	-41%	36.4	5.4	56	Tobacco and alcohol
58	41	UNICREDIT BANK, AS	39.53	66.34	-40%	789.6	45.9	84	Banks and financial services
64	50	LATVIJAS KRĀJBANKA, AS	33.09	55.37	-40%	681.5	38.1	89	Banks and financial services
35	24	ELKO GRUPA, AS	79.47	130.24	-39%	505.4	10.1	70	Information and Technology
42	27	UPB, AS	66.14	107.70	-39%	74.4	8.5	17	Construction services and materials
3	3	LATVIJAS VALSTS MEŽI, VAS	573.43	873.40	-34%	148.0	63.4	39	Forestry and timber processing
15	15	VENTSPILS NAFTA, AS	167.07	251.13	-33%	63.1	17.5	71	Transportation, transit, logistics/Petrochemicals
39	28	LATVIJAS HIPOTĒKU UN ZEMES BANKA, VAS	68.93	101.33	-32%	969.0	79.6	87	Banks and financial services
21	19	GRINDEKS, AS	125.04	170.73	-27%	62.1	10.5	100	Medicine and pharmaceuticals
14	16	ALFOR, SIA	172.03	231.44	-26%	52.5	17.3	58	Gambling
52	47	PERI, SIA	44.32	58.18	-24%	10.2	4.6	58	Construction services and materials
7	8	LATTELECOM, SIA	364.90	449.28	-19%	160.4	52.1	82	Telecommunication services
89	82	LATVIJAS ENERGOCELTNIEKS, SIA	23.32	28.42	-18%	46.7	2.7	76	Construction services and materials
41	37	DROGAS, AS	67.03	79.65	-16%	64.7	7.0	53	Retail
6	7	TELE2, SIA	387.66	454.62	-15%	130.1	48.2	62	Telecommunication services
16	18	LIEPĀJAS METALURGS, AS	147.07	173.75	-15%	270.2	17.9	81	Manufacturing
59	60	JOKER LTD, SIA	39.32	46.07	-15%	15.4	4.2	27	Gambling
98	97	PATA AB, SIA	21.32	24.80	-14%	34.9	2.4	26	Forestry and timber processing
27	25	LATVIJAS FINIERIS, AS	105.10	119.62	-12%	99.4	11.5	44	Forestry and timber processing
96	101	TILTS, SIA	21.40	24.36	-12%	19.1	2.7	21	Construction services and materials
49	55	BMGS, AS	46.76	50.36	-7%	53.8	6.0	18	Construction services and materials
66	76	CĒSU ALUS, AS	31.32	33.60	-7%	27.3	2.5	60	Tobacco and alcohol
32	34	LATVIJA STATOIL, SIA	87.01	91.27	-5%	342.1	6.9	64	Fuel trade
2	5	LATVIJAS MOBILAIS TELEFONS, SIA	696.46	725.66	-4%	192.6	85.0	71	Telecommunication services
36	36	VIESNĪCA "LATVIJA", AS	77.13	80.29	-4%	12.6	5.8	54	Tourism and hotel services
9	11	LATVIJAS KUĢNIECĪBA, AS	322.86	325.05	-1%	120.9	33.7	73	Transportation, transit, logistics
47	54	BALTIC CONTAINER TERMINAL, SIA	50.13	50.45	-1%	10.6	6.0	13	Transportation, transit, logistics
17	-	RĪGAS TIRDZNIECĪBAS OSTA, SIA	140.75	-	-	64.3	16.7	13	Transportation, transit, logistics
26	-	MIKROTĪKLS, SIA	107.67	-	-	26.8	12.8	31	Information and Technology
31	-	LATVIJAS AUTOCEĻU UZTURĒTĀJS, AS	89.63	-	-	60.6	8.3	24	Construction services and materials
33	-	RE & RE, SIA	86.23	-	-	50.7	11.1	16	Construction services and materials
37	-	ITERA LATVIJA, SIA	76.89	-	-	140.8	9.3	13	Energy
45	-	TIRDZNIECĪBAS CENTRS PLESKODĀLE, SIA	59.60	-	-	6.9	4.2	51	Retail
50	-	RETS INVESTĪCIJAS, SIA	46.54	-	-	3.4	2.8	45	Energy
54	-	BALTENERGOTRADE, SIA	43.44	-	-	36.7	2.6	53	Energy
56	-	ARIS BALTIJA, SIA	41.07	-	-	7.3	3.8	44	Fuel trade/Card retail
60	-	GETLIŅI EKO, SIA	37.87	-	-	6.8	3.8	23	Utility services
65	-	BULBASH, SIA	32.66	-	-	16.7	3.4	16	Retail
67	-	L & T, SIA	31.31	-	-	16.9	2.9	62	Utility services
68	-	HANZAS MAIZNĪCA, AS	30.95	-	-	21.7	3.0	49	Food production
69	-	LINSTOW, SIA	30.57	-	-	5.3	2.1	67	Real estate operations
70	-	KREISS, SIA	29.89	-	-	14.3	3.2	26	Transportation, transit, logistics
71	-	SALDUS CEĻINIEKS, SIA	29.86	-	-	32.1	3.8	21	Construction services and materials
72	-	VIA, SIA	29.71	-	-	15.4	3.7	32	Construction services and materials
73	-	TV3 LATVIA, SIA	29.30	-	-	10.9	2.7	54	Other services/Media
74	-	AGA, SIA	28.67	-	-	10.0	2.6	60	Other services/Industrial gas
75	-	VENTBUNKERS, AS	28.43	-	-	32.9	3.4	15	Transportation, transit, logistics
77	-	RĪGAS NAMI, SIA	26.90	-	-	3.0	2.0	21	Real estate operations
79	-	DAUGAVPILS LOKOMOTĪVJU REMONTA RŪPNĪCA, AS	26.02	-	-	17.5	2.9	50	Other services/Industrial repairs
80	-	ALCO, SIA	25.71	-	-	17.2	3.1	21	Fuel trade
82	-	FORUM CINEMAS, SIA	24.94	-	-	8.9	2.3	54	Other services/Entertainment
83	100	SIS BIZNESA SERVISS, SIA	24.36	24.40	0%	12.8	3.6	5	Information and Technology
84	-	RĪGAS PIENA KOMBINĀTS, AS	24.32	-	-	60.2	2.4	39	Food production
85	-	G4S LATVIA, AS	24.29	-	-	18.6	2.0	63	Other services/Security
86	-	STABURADZE, AS	24.26	-	-	47.2	2.3	56	Food production
87	-	RD ELEKTRONIKS, SIA	24.14	-	-	50.8	2.5	51	Retail
88	-	ABAVA, SIA	23.68	-	-	3.6	1.8	29	Real estate operations
90	-	NAFTIMPEKS, SIA	23.18	-	-	12.0	2.9	5	Transportation, transit, logistics/Petrochemicals
91	-	ARČERS, SIA	22.96	-	-	28.1	2.9	31	Construction services and materials
92	-	RETTENMEIER BALTIC TIMBER, SIA	22.88	-	-	20.7	2.4	67	Forestry and timber processing
93	-	CEĻU PĀRVALDE, AS	22.77	-	-	24.5	2.9	19	Construction services and materials
94	-	KRONUS, SIA	21.94	-	-	14.7	2.5	35	Forestry and timber processing
95	-	LATVIJAS LOTO, VAS	21.49	-	-	8.5	2.3	30	Gambling
97	-	L-EKSPRESIS, SIA	21.37	-	-	11.3	2.3	10	Transportation, transit, logistics
99	-	CEĻU, TILTU BŪVNIEKS, SIA	21.27	-	-	8.5	2.7	21	Construction services and materials
100	-	EAST METAL, SIA	21.09	-	-	16.5	2.5	72	Manufacturing
101	-	TVA CONSTRUCTION, SIA	20.91	-	-	23.8	2.6	35	Construction services and materials
53	61	STREK, SIA	43.78	42.77	2%	12.2	5.2	15	Transportation, transit, logistics
24	29	A.C.B., AS	108.50	99.31	9%	97.2	14.1	13	Construction services and materials
28	30	RĪGAS ŪDENS, SIA	103.17	94.54	9%	29.7	11.1	24	Utility services
76	92	ZEMNIECĪBA, SIA	27.93	25.53	9%	22.2	2.7	15	Retail
5	10	LATVIJAS GĀZE, AS	403.32	353.74	14%	351.0	41.4	91	Energy
63	81	TAMRO, SIA	33.73	29.53	14%	73.9	2.5	67	Medicine and pharmaceuticals
25	31	KNAUF, SIA	108.48	92.75	17%	51.0	11.4	53	Construction services and materials
51	66	CIDO GRUPA, SIA	45.74	38.73	18%	45.6	3.6	56	Food production
29	38	RECIPE PLUS, AS	94.98	75.73	25%	100.0	7.8	15	Medicine and pharmaceuticals
34	42	STARPTAUTISKĀ LIDOSTA RĪGA, VAS	80.51	63.80	26%	24.5	7.5	35	Transportation, transit, logistics
1	2	LATVENERGO, AS	1239.74	950.13	30%	475.9	107.1	39	Energy
43	57	SENTOR FARM APTIEKAS, AS	65.99	49.52	33%	54.5	5.2	33	Medicine and pharmaceuticals
10	17	MAXIMA LATVIJA, SIA	304.71	224.25	36%	426.3	27.5	49	Retail
38	49	VALMIERAS STIKLA ŠĶIEDRA, AS	75.38	55.39	36%	37.8	7.4	81	Manufacturing
55	78	JYSK LINNEN'N FURNITURE, SIA	41.53	30.25	37%	22.2	3.1	49	Retail
62	99	FIRST DATA LATVIA, SIA	35.76	24.48	46%	8.0	3.1	58	Information and Technology
18	35	LATVIJAS BALZAMS, AS	134.69	89.77	50%	103.6	8.8	88	Tobacco and alcohol
4	12	LATVIJAS DZELZCEĻŠ, VAS	465.37	300.88	55%	299.5	43.9	18	Transportation, transit, logistics
20	39	RĪGAS SILTUMS, AS	132.85	74.93	77%	109.4	11.6	34	Utility services
11	21	RĪGAS SATIKSME, RP SIA	286.41	157.94	81%	113.1	26.5	21	Transportation, transit, logistics
30	52	VK TRANZĪTS, SIA	93.91	51.91	81%	66.2	11.2	13	Transportation, transit, logistics
12	22	RIMI LATVIA, SIA	269.46	144.25	87%	465.0	24.0	55	Retail
19	53	VALSTS NEKUSTAMIE ĪPAŠUMI, VAS	134.42	51.03	163%	21.0	9.7	47	Real estate operations

* TOP 101 reflects enterprise value of the companies except for banks and insurance companies, for which equity value is reflected.
** For banks and insurance companies the columns "revenue" and "adjusted EBITDA" present book value of total assets and shareholders' equity respectively.

TOP 101 Assumptions and Explanations

If available, consolidated financial statements were used to derive enterprise value. Holding companies were valued only if consolidated financial statements were available.
If there were suspicions that a company is a part of a financial schemes, the company was excluded form the TOP 101.
Specific risk of a company was not taken into account, since only publicly disclosed information was used. The information required to evaluate specific risk often is not publicly disclosed by companies.
Companies that, according to our opinion, were of particularly high risk profile were excluded from the TOP 101

TOP 101 - 2009
Latvia's most valuable enterprises
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Comparison between TOP101 and GDP

Distribution of the value of TOP101 companies, based on capital structure

TOP 101 value of the last company present in TOP, million EUR

TOP 101 - 2009 Latvia's most valuable enterprises Discover your company’s value