TOP 101 - 2014
Latvia's most valuable enterprises
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TOP 2014 TOP 2013 Company name Value 2014 Value 2013 Change Turnover 2013 EBITDA 2013 CorpGov Score   Industry
32 29 LATVIJAS BALZAMS, SIA 115.70 109.50 6% 70.4 8.3 97 Manufacturing: consumer goods
34 33 VALMIERAS STIKLA ŠĶIEDRA, AS 108.60 101.10 7% 88.5 14.7 97 Manufacturing: industrial products
2 2 SWEDBANK, AS 848.20 663.00 28% 5053.0 1020.7 94 Financial services
4 4 VENTSPILS NAFTA, AS 644.60 467.70 38% 166.7 62.9 94 Transport, transit, logistics
13 13 GRINDEKS, AS 249.90 232.00 8% 118.5 21.0 94 lv Manufacturing: consumer goods
7 6 LATVIJAS GĀZE, AS 385.30 390.00 -1% 574.0 72.3 91 Utility services
1 1 LATVENERGO, AS 1300.10 1127.30 15% 1099.9 249.1 90 lv Utility services
31 35 CITADELE BANKA, AS 117.70 97.50 21% 2541.5 143.4 87 lv Financial services
6 8 LATTELECOM, SIA 408.00 308.20 32% 188.2 69.5 86 lv IT and telecommunication services
90 - BALTIKUMS BANK, AS 43.00 - - 490.0 52.7 84 lv Financial services
59 54 GJENSIDIGE BALTIC, AAS 64.60 60.30 7% 104.9 44.7 81 Financial services
60 47 LATVIJAS ATTĪSTĪBAS FINANŠU INSTITŪCIJA ALTUM, VAS 63.60 70.10 -9% 299.5 78.3 81 lv Financial services
66 66 EXPOBANK, AS 60.30 50.90 18% 399.7 74.2 81 Financial services
16 15 OLAINFARM, AS 220.40 204.40 8% 78.0 19.8 80 lv Manufacturing: consumer goods
9 14 KRONOSPAN RIGA, SIA 336.20 220.20 53% 160.0 48.2 8 Manufacturing: industrial products
10 9 LATVIJAS MOBILAIS TELEFONS, SIA 320.60 283.70 13% 172.0 52.5 78 IT and telecommunication services
20 21 DNB, AS 189.60 159.80 19% 2426.5 234.9 78 Financial services
94 87 TRASTA KOMERCBANKA, AS 41.20 35.90 15% 416.7 51.1 77 lv Financial services
15 20 RIETUMU BANKA, AS 224.90 160.20 40% 2927.8 280.8 74 lv Financial services
25 25 OLYMPIC CASINO LATVIA, SIA 153.10 144.10 6% 34.2 16.8 74 Consumer services
38 42 SEVERSTAĻLAT, AS 89.20 79.00 13% 207.7 9.1 74 Trade: industrial goods
33 37 RĪGAS SILTUMS, AS 109.20 92.00 19% 217.3 20.5 73 lv Utility services
26 34 ABLV BANK, AS 150.60 99.70 51% 3316.1 189.2 71 lv Financial services
5 3 LATVIJAS DZELZCEĻŠ, VAS 575.00 602.70 -5% 439.0 78.8 69 lv Transport, transit, logistics
14 11 MAXIMA LATVIJA, SIA 244.20 246.70 -1% 673.5 31.4 64 Trade: consumer goods
39 46 NESTE LATVIJA, SIA 87.50 73.00 20% 327.1 9.0 63 Trade: energy carriers
83 67 CĒSU ALUS, AS 46.80 48.50 -4% 49.6 4.1 63 Manufacturing: consumer goods
79 - LINSTOW, SIA 49.60 - - 6.6 5.5 61 Real estate operations
54 59 LUKOIL BALTIJA R, SIA 68.00 57.70 18% 325.5 5.9 59 Trade: energy carriers
77 98 VIKA WOOD, SIA 50.50 32.90 53% 56.0 4.3 59 Manufacturing: industrial products
18 16 RIMI LATVIA, SIA 198.80 201.60 -1% 672.3 25.3 58 Trade: consumer goods
27 - CEMEX, SIA 137.70 - - 87.1 18.9 58 Manufacturing: industrial products
37 49 KNAUF, SIA 91.30 69.30 32% 52.0 12.0 56 Manufacturing: industrial products
68 - STORA ENSO LATVIJA, AS 58.00 - - 70.6 6.6 56 Manufacturing: industrial products
72 85 TIETO LATVIA, SIA 54.00 36.50 48% 44.4 7.1 56 IT and telecommunication services
76 65 DOBELES DZIRNAVNIEKS, AS 50.70 51.00 -1% 84.8 6.5 56 Manufacturing: consumer goods
86 - STORA ENSO PACKAGING, SIA 45.50 - - 38.3 5.9 56 Manufacturing: industrial products
21 - TELE2 HOLDINGS, SIA 189.50 - - 119.6 32.5 54 IT and telecommunication services
41 27 SAMSUNG ELECTRONICS BALTICS, SIA 83.80 120.00 -30% 289.6 6.4 54 Trade: consumer goods
87 - AGA, SIA 45.50 - - 18.6 4.8 54 Trade: energy carriers
100 100 FIRST DATA LATVIA, SIA 38.10 32.70 17% 11.2 3.4 54 Other commercial services
101 - CIDO GRUPA, SIA 37.70 - - 55.9 4.8 54 Manufacturing: consumer goods
57 40 LATVIJAS AUTOCEĻU UZTURĒTĀJS, VAS 64.90 86.80 -25% 66.5 7.9 53 lv Construction
84 - BALTIC AGRO, SIA 46.30 - - 126.3 3.7 52 Trade: industrial goods
22 23 STARPTAUTISKĀ LIDOSTA RĪGA, VAS 184.60 152.20 21% 47.3 18.9 51 lv Transport, transit, logistics
65 - LATVIJAS GAISA SATIKSME, VAS 60.60 - - 24.2 5.3 51 lv Transport, transit, logistics
69 78 RETTENMEIER BALTIC TIMBER, SIA 57.10 39.80 43% 31.6 5.6 51 Manufacturing: industrial products
73 - TOLMETS, SIA 53.80 - - 148.5 6.4 51 lv Trade: industrial goods
23 - AGROLATS HOLDING, AS 158.30 - - 305.8 8.5 50 lv Manufacturing: consumer goods
30 52 DROGAS, AS 126.80 63.50 100% 86.9 10.8 50 Trade: consumer goods
46 - VIESNĪCA "LATVIJA", AS 76.60 - - 21.2 7.7 50 Consumer services
51 45 PLESKO REAL ESTATE, SIA 71.00 73.20 -3% 19.4 8.5 50 Real estate operations
56 61 JELD-WEN LATVIJA, SIA 65.50 56.20 17% 34.8 9.4 50 Manufacturing: industrial products
80 - LNK, SIA 48.40 - - 92.8 9.5 50 lv Construction
93 84 LATGRAN, SIA 41.30 37.00 12% 59.4 11.3 50 Manufacturing: energy carriers
99 - LATVIJAS PASTS, VAS 38.30 - - 58.2 7.4 50 lv Transport, transit, logistics
75 58 AKG THERMOTECHNIK LETTLAND, SIA 52.80 57.70 -8% 29.2 6.5 49 Manufacturing: industrial products
81 32 BALTICOVO, AS 48.00 101.30 -53% 39.8 3.2 48 lv Manufacturing: consumer goods
63 51 TIRDZNIECĪBAS CENTRS PLESKODĀLE, SIA 62.30 67.00 -7% 11.5 6.9 47 Real estate operations
96 92 CEĻU SATIKSMES DROŠĪBAS DIREKCIJA, VAS 39.20 34.50 14% 34.6 3.9 47 lv Other commercial services
91 - STORENT, SIA 42.40 - - 19.0 5.0 46 lv Other commercial services
97 80 ALD AUTOMOTIVE, SIA 39.00 39.30 -1% 7.1 5.0 46 Other commercial services
98 - PINDSTRUP LATVIA, SIA 38.50 - - 40.4 3.6 45 Extraction of natural resources
3 5 LATVIJAS VALSTS MEŽI, AS 801.30 446.20 80% 259.9 95.8 44 lv Extraction of natural resources
61 64 BTA, AAS 63.50 52.00 22% 205.3 47.3 44 Financial services
82 81 RĪGAS UNIVERSĀLAIS TERMINĀLS, SIA 47.20 39.30 20% 19.2 7.8 44 Transport, transit, logistics
29 24 VALSTS NEKUSTAMIE ĪPAŠUMI, VAS 133.30 149.80 -11% 48.0 14.2 43 lv Real estate operations
64 - D64, AS 61.60 - - 110.5 9.0 43 lv Construction
24 19 ALFOR, SIA 158.10 165.40 -4% 51.7 16.2 38 Consumer services
89 69 DĪKSNA, SIA 43.30 46.20 -6% 10.1 5.6 36 Real estate operations
43 43 AKZ, SIA 80.40 74.90 7% 51.9 8.5 34 lv Manufacturing: industrial products
12 22 LATVIJAS FINIERIS, AS 273.80 159.40 72% 185.8 32.9 32 lv Manufacturing: industrial products
42 39 DELTA PROPERTY, SIA 82.30 89.00 -8% 10.9 9.5 32 Real estate operations
45 48 DEPO DIY, SIA 78.30 69.30 13% 151.9 12.8 32 lv Trade: consumer goods
55 62 JOKER LTD, SIA 65.80 56.10 17% 23.4 8.0 32 Consumer services
49 - RĪGAS ŪDENS, SIA 72.20 - - 38.3 9.1 31 lv Utility services
70 96 RE & RE, SIA 56.60 33.00 72% 97.7 11.8 31 lv Construction
85 74 BINDERS, CEĻU BŪVES FIRMA SIA 45.90 43.50 6% 85.8 8.3 30 lv Construction
62 89 GAUJAS KOKS, SIA 63.50 35.60 78% 55.7 7.5 29 lv Manufacturing: industrial products
71 - PATA AB, SIA 55.00 - - 124.5 5.4 29 lv Manufacturing: industrial products
53 - VENTBUNKERS, AS 70.00 - - 69.5 8.8 28 lv Transport, transit, logistics
19 17 MIKROTĪKLS, SIA 192.70 189.30 2% 103.5 28.0 26 lv Manufacturing: industrial products
36 30 KREISS, SIA 95.60 107.40 -11% 102.3 17.7 26 lv Transport, transit, logistics
44 75 ALPHA OSTA, SIA 79.10 43.50 82% 24.7 8.9 26 Transport, transit, logistics
35 36 RECIPE PLUS, AS 100.60 96.60 4% 131.1 13.0 23 lv Trade: consumer goods
58 71 BALTCOM TV, SIA 64.90 44.80 45% 19.5 5.3 22 IT and telecommunication services
67 55 ADMIRĀĻU KLUBS, SIA 60.10 59.90 0% 18.2 7.1 21 Consumer services
28 26 ELKO GRUPA, AS 137.60 137.80 0% 886.0 19.4 20 lv Trade: consumer goods
40 31 BALTIJAS TRANZĪTA SERVISS, AS 86.40 106.10 -19% 61.1 13.1 20 Transport, transit, logistics
48 56 UPB, AS 73.00 59.30 23% 106.1 11.2 20 lv Construction
17 10 RĪGAS TIRDZNIECĪBAS OSTA, SIA 199.30 263.90 -24% 203.2 25.3 19 lv Transport, transit, logistics
52 82 4 FINANCE, AS 70.40 38.80 81% 229.2 65.9 19 Financial services
88 - BMGS, AS 44.00 - - 90.2 7.5 18 lv Construction
92 - NORDTORF, SIA 41.60 - - 13.4 5.3 17 Extraction of natural resources
11 12 URALCHEM TRADING, SIA 292.30 243.90 20% 1123.4 27.2 16 Trade: industrial goods
47 38 BALTIC CONTAINER TERMINAL, SIA 76.60 90.40 -15% 17.6 8.6 16 lv Transport, transit, logistics
50 50 SENTOR FARM APTIEKAS, AS 71.80 69.00 4% 83.1 9.5 16 lv Trade: consumer goods
74 57 STREK, SIA 53.60 58.20 -8% 16.7 6.5 15 lv Transport, transit, logistics
95 77 LAUMA FABRICS, SIA 39.30 41.60 -6% 39.8 5.6 13 Manufacturing: consumer goods
78 - BALTIC DEVON MINK, SIA 49.60 - - 12.7 7.4 11 Manufacturing: consumer goods
8 7 SEB BANKA, AS 365.90 321.20 14% 4270.4 435.8 100 Financial services

"(K)" placed after names of the companies indicates that a consolidated annual reports were used in preparation of the TOP.
* TOP 101 presents enterprise value, except for banks, other credit institutions and insurance companies for whome the respective colum presents equity value.
** For banks, other credit institutions and insurance companies, the column presents book value of total assets as at the end of 2012.
** For banks, other credit institutions and insurance companies, the column presents book value of shareholders' equity as at the end of 2012.

  1. Konsolidācija iekļāuj SIA "Ventspils nafta" termināls", SIA "Latrostrans" un AS "Latvijas Kuģniecība". Consolidation includes "Ventspils nafta" termināls" Ltd., "Latrostrans" Ltd. And JSC "Latvijas Kuģniecība".
  2. Shall be considered as a newcommer only technically, since previous years' TOPs included "Tele2" Ltd.
  3. Consolidated financial reports were used in the current TOP as compared to the previous year.
  4. Consolidated financial reports were not available for the current TOP as compared to the previous year.
  5. Previously known as SJSC "Latvijas Hipotēku un zemes banka".
  6. Shall be considered as a newcommer only technically, since previous years' TOPs included the major subsidiary JSC "A.C.B." (with respective consolidated financial reports).

Comparison between TOP101 and GDP

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

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

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