TOP 101 | Top101.lv

TOP 2011	TOP 2010	Company name	Value 2011	Value 2010	Change	Turnover 2010	EBITDA 2010	CorpGov Score		Industry

1	1	LATVENERGO, AS	1385.8	1452.3	-5%	574.7	206.3	42	Energy
2	2	SWEDBANK, AS	764.2	570.5	34%	4180.7	480.3	94	Bank, Insurance and other financial services
3	3	LATVIJAS DZELZCEĻŠ, VAS	626.7	549.2	14%	257.4	54.9	33	Transportation, transit, logistics
4	5	LATVIJAS VALSTS MEŽI, AS	562.3	400.5	40%	216.0	101.8	19	Forestry and timber processing
5	7	LATVIJAS GĀZE, AS	395	321.8	23%	353.3	56.7	91	Energy
6	11	SEB BANKA, AS	364.5	230.9	58%	2718.0	227.9	97	Bank, Insurance and other financial services
7	4	LATVIJAS MOBILAIS TELEFONS, SIA	347.9	433.5	-20%	134.1	53.6	79	Telecommunication services
8	6	LATTELECOM, SIA	342.5	-	0%	139.2	43.6	77	Telecommunication services
9	14	VALSTS NEKUSTAMIE ĪPAŠUMI, VAS	309.9	341.3	-9%	21.3	12.4	35	Real estate operations
10	18	RIMI LATVIA, SIA	283.4	164.5	72%	391.8	15.1	60	Retail
11	10	RĪGAS SATIKSME, RP SIA	234.8	133.7	76%	90.5	22.0	18	Transportation, transit, logistics
12	9	TELE2 HOLDINGS, SIA	225.1	246.5	-9%	97.6	29.5	68	Telecommunication services
13	15	RIETUMU BANKA, AS	213.1	302.6	-30%	1116.3	137.9	64	Bank, Insurance and other financial services
14	16	DNB NORD BANKA, AS	207.3	155.8	33%	1804.9	118.3	81	Bank, Insurance and other financial services
15	8	MAXIMA LATVIJA, SIA	200.5	-	0%	390.5	11.8	51	Retail
16	94	URALCHEM TRADING, SIA	183.9	145.4	27%	456.5	11.7	16	Retail
17	-	VENTSPILS NAFTA TERMINĀLS, SIA	174.4	318.3	-	43.4	14.3	62	Transportation, transit, logistics
18	34	GRINDEKS, AS	172.1	24	618%	65.1	11.6	94	Medicine and pharmaceuticals
19	31	LATVIJAS BALZAMS, SIA	169.9	-	0%	74.9	7.8	100	Production of alcoholic beverages
20	39	LATVIJA STATOIL, SIA	135.7	44.8	203%	287.1	12.7	64	Fuel trade
21	56	LATVIJAS FINIERIS, AS	133.9	74.3	80%	96.2	21.7	46	Forestry and timber processing
22	19	LATVIJAS HIPOTĒKU UN ZEMES BANKA, VAS	130.2	132.8	-2%	706.1	85.7	69	Bank, Insurance and other financial services
23	12	RĪGAS TIRDZNIECĪBAS OSTA, SIA	128.1	187.2	-32%	75.9	13.7	19	Transportation, transit, logistics
24	-	BOLDERAJA LTD, SIA	125.4	-	-	84.9	21.8	13	Forestry and timber processing
25	21	MIKROTĪKLS, SIA	122.1	98.5	24%	37.1	14.1	27	Information and Technology
26	17	RĪGAS SILTUMS, AS	116.7	62.3	87%	112.3	12.7	42	Utility services
27	51	ELKO GRUPA, AS	115.9	134.9	-14%	416.9	8.0	34	Information and Technology
28	26	ABLV, AS	109.7	51.4	114%	1367.5	71.0	64	Bank, Insurance and other financial services
29	32	NORVIK BANKA, AS	106.6	81.9	30%	591.3	63.5	71	Bank, Insurance and other financial services
30	33	LATVIJAS AUTOCEĻU UZTURĒTĀJS, AS	96.8	69.6	39%	44.8	7.4	17	Transportation, transit, logistics
31	48	LATVIJAS KRĀJBANKA, AS	95.9	60.6	58%	654.2	56.0	97	Bank, Insurance and other financial services
32	37	TIRDZNIECĪBAS CENTRS PLESKODĀLE, SIA	90.6	-	0%	6.8	3.7	47	Real estate operations
33	20	RĪGAS ŪDENS, SIA	89.5	53.6	67%	27.2	10.3	12	Utility services
34	30	STARPTAUTISKĀ LIDOSTA RĪGA, VAS	89.2	63.6	40%	22.7	8.7	28	Transportation, transit, logistics
35	-	LUKOIL BALTIJA R, SIA	88.8	106.2	-	186.5	6.3	62	Fuel trade
36	-	LIEPĀJAS METALURGS, AS	86.5	69.1	-	204.2	2.5	71	Manufacturing
37	-	SEVERSTAĻLAT, AS	85.5	77	-	118.6	5.1	70	Manufacturing
38	-	DROGAS, AS	79.6	87	-	50.5	5.8	50	Retail
39	-	BALTIJAS TRANZĪTA SERVISS, AS	76.9	-	-	35.5	5.8	18	Transportation, transit, logistics
40	97	ALFOR, SIA	76.2	-	0%	29.4	8.8	64	Gambling
41	-	PLESKO REAL ESTATE, SIA	75.8	-	-	6.2	2.7	50	Real estate operations
42	36	OLAINFARM, AS	74.7	21.8	243%	25.0	6.7	80	Medicine and pharmaceuticals
43	28	RECIPE PLUS, AS	73.4	-	0%	87.2	7.6	18	Medicine and pharmaceuticals
44	35	UNICREDIT BANK, SIA	71.1	68.7	4%	704.3	45.5	84	Bank, Insurance and other financial services
45	49	LTB BANK, AS	70.3	52.5	34%	445.2	44.4	91	Bank, Insurance and other financial services
46	59	TOLMETS, SIA	70.2	41.9	68%	102.4	5.4	40	Manufacturing
47	27	VALMIERAS STIKLA ŠĶIEDRA, AS	69.7	-	0%	39.2	6.8	85	Manufacturing
48	-	DELTA PROPERTY, SIA	67.3	-	-	6.1	2.9	14	Real estate operations
49	74	NESTE LATVIJA, SIA	64.4	56.8	13%	156.7	5.4	54	Fuel trade
50	42	PAULA STRADIŅA KLĪNISKĀ UNIVERSITĀTES SLIMNĪCA, VSIA	63.8	78.1	-18%	58.1	6.0	22	Medicine and pharmaceuticals
51	38	VIKA WOOD, SIA	63.8	77.9	-18%	43.7	9.8	61	Forestry and timber processing
52	57	PASAŽIERU VILCIENS, AS	63.1	63.4	0%	41.7	4.7	11	Transportation, transit, logistics
53	-	MARNO J, SIA	59.6	43.2	-	4.6	2.4	47	Real estate operations
54	13	ALPHA OSTA, SIA	59.4	-	0%	22.7	6.4	24	Transportation, transit, logistics
55	54	SENTOR FARM APTIEKAS, AS	57.8	187.2	-69%	51.8	6.1	16	Medicine and pharmaceuticals
56	23	STREK, SIA	56.3	32.6	73%	12.7	6.3	20	Transportation, transit, logistics
57	58	RĪGAS AUSTRUMU KLĪNISKĀ UNIVERSITĀTES SLIMNĪCA, SIA	54.1	92.5	-42%	48.8	5.3	6	Medicine and pharmaceuticals
58	-	OLYMPIC CASINO LATVIA, SIA	53.9	42.8	-	15.9	6.2	80	Gambling
59	66	BALTIC CONTAINER TERMINAL, SIA	52.7	-	0%	11.1	6.4	9	Transportation, transit, logistics
60	-	JELD-WEN LATVIJA, SIA	52.4	39.2	-	19.4	6.3	54	Construction services and materials
61	-	PATA AB, SIA	50.7	-	-	65.5	8.2	16	Forestry and timber processing
62	53	CEĻU SATIKSMES DROŠĪBAS DIREKCIJA, VAS	49.8	-	0%	20.1	4.6	17	Other industry
63	65	CĒSU ALUS, AS	49.6	-	0%	30.4	3.9	63	Production of alcoholic beverages
64	44	LATVIJAS GAISA SATIKSME, VAS	48.5	49.2	-1%	15.3	4.0	25	Transportation, transit, logistics
65	-	AKZ, SIA	48.5	48.8	-	32.4	7.6	25	Forestry and timber processing
66	64	DEPO DIY, SIA	48	39.5	22%	80.5	3.5	50	Retail
67	47	KNAUF, SIA	46.8	55.6	-16%	24.8	5.3	54	Construction services and materials
68	-	JAUNPAGASTS PLUS, SIA	45.2	-	-	14.3	3.4	22	Production of alcoholic beverages
69	70	BELAM-RĪGA, SIA	45.1	-	0%	40.2	4.7	27	Information and Technology
70	71	TRASTA KOMERCBANKA, AS	44.3	39.6	12%	217.4	28.3	77	Bank, Insurance and other financial services
71	40	BALTICOVO, AS	44.3	53.8	-18%	21.2	5.3	43	Food production
72	-	BIO-VENTA, SIA	44.2	-	-	32.2	6.7	14	Manufacturing
73	69	GJENSIDIGE BALTIC, AAS	43.8	35.4	24%	67.5	30.4	81	Bank, Insurance and other financial services
74	-	STORA ENSO LATVIJA, AS	43.7	35	-	49.7	5.6	53	Forestry and timber processing
75	-	MAŽEIĶU NAFTA TIRDZNIECĪBAS NAMS, SIA	41.7	61.9	-	204.6	1.5	48	Fuel trade
76	73	BALTKOM TV, SIA	41.3	-	0%	12.1	3.9	25	Telecommunication services
77	72	TAMRO, SIA	40.5	-	0%	73.6	3.1	63	Medicine and pharmaceuticals
78	-	BALTIC COAL TERMINAL, AS	40	36	-	10.3	4.5	8	Transportation, transit, logistics
79	81	KUREKSS, SIA	38.6	-	0%	30.8	6.0	31	Forestry and timber processing
80	77	VIESNĪCA "LATVIJA", AS	38.4	32.8	17%	10.0	2.9	50	Real estate operations
81	78	ARČERS, SIA	37.3	-	0%	23.0	4.6	31	Construction services and materials
82	-	LEXEL FABRIKA, SIA	37.2	30.8	-	18.2	3.6	50	Manufacturing
83	-	ITERA LATVIJA, SIA	37.2	-	-	81.6	3.5	9	Energy
84	25	SKONTO BŪVE, SIA	36	-	0%	73.8	2.9	42	Construction services and materials
85	55	RETTENMEIER BALTIC TIMBER, SIA	35.9	31.5	14%	22.4	5.8	29	Forestry and timber processing
86	75	BTA, AAS	35.8	-	0%	113.3	26.9	41	Bank, Insurance and other financial services
87	82	KOMERCBANKA BALTIKUMS, AS	35.6	-	0%	125.8	21.2	74	Bank, Insurance and other financial services
88	41	RE & RE, SIA	35.4	-	0%	27.8	4.0	23	Construction services and materials
89	-	LATGRAN, SIA	35	-	-	22.2	4.9	50	Manufacturing
90	-	GE MONEY BANK, AS	34.4	47.2	-	208.6	18.5	81	Bank, Insurance and other financial services
91	-	NARVESEN BALTIJA, SIA	34.3	33.4	-	53.9	1.9	59	Retail
92	-	NIAM III HOLDING, SIA	33.2	84.5	-	1.5	1.5	14	Real estate operations
93	67	ALDARIS, AS	32.6	32.4	1%	25.5	2.5	65	Production of alcoholic beverages
94	-	TRANSTRADE RIGA, SIA	32.6	30.4	-	12.0	5.1	8	Transportation, transit, logistics
95	84	PRIVATBANK, AS	31.8	-	0%	274.4	19.5	77	Bank, Insurance and other financial services
96	-	TIESU NAMU AĢENTŪRA, VAS	31.8	-	-	2.7	1.2	7	Real estate operations
97	83	BALTA, AAS	31.5	58.8	-46%	60.8	22.8	75	Bank, Insurance and other financial services
98	-	GAUJAS KOKS, SIA	31.4	-	-	29.6	4.7	21	Forestry and timber processing
99	90	SSF LOGISTIC, SIA	31.3	-	0%	7.1	3.8	3	Transportation, transit, logistics
100	43	BMGS, AS	31	-	0%	37.3	3.4	16	Construction services and materials
101	-	SPĒKS-R, SIA	30.8	-	-	2.2	1.2	41	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 - 2011
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 - 2011 Latvia's most valuable enterprises Discover your company’s value