TOP 101 - 2022
Latvia's most valuable enterprises
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TOP 2022 TOP 2021 Company name Value 2022 Value 2021 Change Turnover 2021 EBITDA 2021 CorpGov Score   Industry
101 75 PINDSTRUP LATVIA, SIA (K) 65.61 93.39 -30% 77.7 9.5 6 Extraction of natural resources
100 80 MAGNUM MEDICAL, SIA 65.82 89.81 -27% 108.4 4.4 32 Trade: consumer goods
99 25 OLYMPIC CASINO LATVIA, SIA 66.61 211.72 -69% 10.5 -5.5 28 Consumer services
98 - PREMIER RESTAURANTS LATVIA, SIA 66.78 - - 50.7 4.0 30 Consumer services
97 - RĪGAS UNIVERSĀLAIS TERMINĀLS, SIA (K) 66.92 - - 16.3 7.7 35 Transportation, transit, logistics
96 96 CĒSU ALUS, AS 67.09 74.60 -10% 64.6 6.0 34 Manufacturing: consumer goods
95 - ULTRAMAR, SIA (K) 67.18 - - 61.6 12.8 12 lv Transportation, transit, logistics
94 99 GROGLASS, SIA 68.24 73.52 -7% 23.3 8.5 10 Manufacturing: industrial products
93 - VK TRANZĪTS, SIA (K) 72.58 - - 201.0 19.6 14 lv Trade: energy carriers
92 84 VALMIERAS STIKLA ŠĶIEDRA, AS (K) 72.65 83.72 -13% 104.6 12.7 47 Manufacturing: industrial products
91 86 ORKLA LATVIJA, SIA (K) 72.98 82.97 -12% 113.5 7.2 39 Manufacturing: consumer goods
90 70 DOUGLAS BALTIC, SIA (K) 73.49 99.00 -26% 45.0 7.4 13 Trade: consumer goods
89 - KRONUS, SIA 73.53 - - 87.8 12.5 10 lv Manufacturing: industrial products
88 61 STORENT INVESTMENTS, AS (K) 73.91 110.02 -33% 42.9 5.2 61 Other commercial services
87 - BALCIA INSURANCE, SE 76.05 - - 185.2 52.9 37 lv Financial services
86 82 ZABBIX, SIA (K) 76.80 85.98 -11% 14.1 8.1 22 lv IT and telecommunication services
85 - LATVIJAS PASTS, VAS 76.80 - - 105.3 2.1 95 lv Transportation, transit, logistics
84 85 LSREF3 RIGA PLAZA, SIA 78.17 83.31 -6% 8.7 5.5 8 Real estate operations
83 98 AMBER LATVIJAS BALZAMS, AS 3, 7 79.32 74.45 7% 78.1 9.4 86 Manufacturing: consumer goods
82 78 LATVIJAS AUTOCEĻU UZTURĒTĀJS, AS 81.97 91.84 -11% 85.1 10.9 75 lv Construction
81 - JAUNĀ TEIKA OFFICES, SIA 82.31 - - 8.9 6.5 13 Real estate operations
80 74 MADARA COSMETICS, AS (K), 3 82.34 94.12 -13% 19.4 4.6 49 lv Manufacturing: consumer goods
79 91 MEGO, SIA (K) 85.73 77.89 10% 187.7 10.6 6 lv Trade: consumer goods
78 71 EFTEN DOMINA, SIA 87.45 98.25 -11% 9.0 5.5 10 Real estate operations
77 68 CEĻU SATIKSMES DROŠĪBAS DIREKCIJA, VAS (K) 88.84 99.62 -11% 50.6 9.2 91 lv Other commercial services
76 39 UPB, AS (K) 91.17 157.72 -42% 238.6 4.1 37 lv Construction
75 53 PAUL MASON PROPERTIES, SIA 91.27 119.98 -24% 97.6 10.3 10 Trade: consumer goods
74 89 "VENTSPILS NAFTA" TERMINĀLS, SIA 91.41 78.83 16% 35.6 14.2 8 Transportation, transit, logistics
73 90 VIRŠI-A, AS (K), 3 91.88 78.00 18% 220.9 9.7 88 lv Trade: energy carriers
72 - STIGA RM, SIA (K) 93.04 - - 43.8 12.9 16 lv Manufacturing: industrial products
71 41 SS, SIA 93.89 145.30 -35% 9.5 8.0 6 lv IT and telecommunication services
70 60 SAMSUNG ELECTRONICS BALTICS, SIA 94.50 110.75 -15% 422.3 9.7 25 Trade: consumer goods
69 76 BALTA, AAS 94.74 92.89 2% 187.9 60.5 79 Financial services
68 69 RĪGAS PIENA KOMBINĀTS, AS (K) 95.25 99.47 -4% 111.5 11.3 10 Manufacturing: consumer goods
67 63 TIETO LATVIA, SIA 95.39 104.37 -9% 54.6 6.1 23 IT and telecommunication services
66 73 CLEANR GRUPA, AS (K), 6 96.54 94.98 2% 53.8 9.5 32 lv Utility services
65 67 BTA BALTIC INSURANCE COMPANY, AAS 97.03 100.49 -3% 434.3 65.8 49 Financial services
64 62 KARAVELA, SIA 100.30 107.56 -7% 59.9 5.0 12 lv Manufacturing: consumer goods
63 55 EVOLUTION LATVIA, SIA 100.82 118.81 -15% 94.3 12.8 8 Other commercial services
62 48 SANITEX, SIA (K) 108.21 123.36 -12% 414.0 12.3 11 Trade: consumer goods
61 47 TIRDZNIECĪBAS CENTRS PLESKODĀLE, SIA 112.91 127.93 -12% 10.3 7.0 13 Real estate operations
60 65 NESTE LATVIJA, SIA 113.18 103.04 10% 386.4 14.6 47 Trade: energy carriers
59 - TOLMETS, SIA (K) 114.01 - - 344.5 24.2 14 lv Trade: industrial goods
58 - GREN LATVIJA, SIA 116.69 - - 22.6 10.9 18 Utility services
57 15 PRINTFUL LATVIA, AS (K), 5 120.10 387.11 -69% 72.0 7.2 15 lv Other commercial services
56 45 KNAUF, SIA 120.90 132.01 -8% 83.2 21.8 29 Manufacturing: industrial products
55 43 LATVIJAS LOTO, VAS (K) 121.29 136.05 -11% 65.3 13.5 71 lv Consumer services
54 - STORA ENSO LATVIJA, AS 125.99 - - 104.4 18.7 18 Manufacturing: industrial products
53 - DELTA PROPERTY, SIA 126.02 - - 9.9 8.8 11 Real estate operations
52 50 C.T.CO, SIA 127.39 122.18 4% 48.7 8.4 13 IT and telecommunication services
51 94 BYKO-LAT, SIA 129.08 75.95 70% 122.9 17.1 26 Manufacturing: industrial products
50 58 CERAM OPTEC, SIA 130.97 114.09 15% 38.2 14.0 10 Manufacturing: industrial products
49 59 LATGRAN, SIA 134.66 112.08 20% 160.7 31.3 34 Manufacturing: energy carriers
48 23 AIR BALTIC CORPORATION, AS (K) 139.17 253.86 -45% 198.3 4.8 61 lv Transportation, transit, logistics
47 51 VESELĪBAS CENTRU APVIENĪBA, AS 140.53 121.24 16% 53.0 15.1 27 lv Health care
46 52 LIGHT GUIDE OPTICS INTERNATIONAL, SIA (K) 141.27 120.60 17% 38.0 15.9 4 lv Manufacturing: industrial products
45 - BSW LATVIA, SIA 142.61 - - 77.1 22.3 8 Manufacturing: industrial products
44 46 FIRMA MADARA 89, SIA 144.96 130.39 11% 171.9 16.6 10 lv Trade: consumer goods
43 97 VIKA WOOD, SIA 147.30 74.57 98% 87.3 21.3 23 Manufacturing: industrial products
42 38 OPTIBET, SIA 148.34 157.97 -6% 41.0 21.7 8 Consumer services
41 40 DOBELES DZIRNAVNIEKS, AS (K) 150.70 146.31 3% 175.8 18.4 24 Manufacturing: consumer goods
40 42 M257, SIA 4 152.82 142.38 7% 16.1 11.6 13 Real estate operations
39 37 CIRCLE K LATVIA, SIA 153.18 164.08 -7% 461.2 18.2 18 Trade: energy carriers
38 81 RETTENMEIER BALTIC TIMBER, SIA (K) 153.29 88.16 74% 80.2 21.4 17 Manufacturing: industrial products
37 24 DROGAS, AS (K) 154.44 218.11 -29% 108.7 15.5 8 Trade: consumer goods
36 54 ECO BALTIA, AS (K) 154.84 118.91 30% 120.0 19.9 40 Utility services
35 28 DEPO DIY, SIA (K) 157.80 196.32 -20% 381.7 21.2 13 lv Trade: consumer goods
34 33 SCHWENK LATVIJA, SIA 161.09 174.65 -8% 96.5 30.8 31 Manufacturing: industrial products
33 31 RĪGAS SILTUMS, AS (K) 161.52 186.13 -13% 146.5 21.9 66 lv Utility services
32 72 E. GULBJA LABORATORIJA, SIA 162.74 96.59 68% 76.7 22.3 17 lv Health care
31 - SMARTLYNX AIRLINES, SIA (K) 163.09 - - 136.8 12.3 17 Transportation, transit, logistics
30 88 KUREKSS, SIA (K) 163.61 82.00 100% 88.5 24.2 15 lv Manufacturing: industrial products
29 49 KREISS, SIA 170.75 122.80 39% 167.2 17.9 8 lv Transportation, transit, logistics
28 57 OLAINFARM, AS (K) 181.34 115.61 57% 137.7 22.1 35 lv Manufacturing: consumer goods
27 64 CENTRĀLĀ LABORATORIJA, SIA 183.66 104.22 76% 69.2 25.4 17 lv Health care
26 32 RĪGAS ŪDENS, SIA 193.11 181.29 7% 55.8 17.1 66 lv Utility services
25 77 GAUJAS KOKS, SIA 231.18 92.43 150% 127.9 36.2 8 lv Manufacturing: industrial products
24 20 LATVIJAS DZELZCEĻŠ, VAS (K) 232.93 307.56 -24% 249.2 18.3 78 lv Transportation, transit, logistics
23 17 RECIPE PLUS, AS 242.62 351.43 -31% 203.1 20.8 25 lv Trade: consumer goods
22 56 PATA, SIA (K) 265.06 118.23 124% 254.4 40.6 21 lv Manufacturing: industrial products
21 22 VALSTS NEKUSTAMIE ĪPAŠUMI, VAS 274.27 260.33 5% 41.8 17.4 90 lv Real estate operations
20 9 LATVIJAS GĀZE, AS (K), 3 275.91 463.81 -41% 583.3 126.8 80 Utility services
19 27 BITE LATVIJA, SIA 279.56 196.52 42% 134.6 43.6 18 IT and telecommunication services
18 19 RIETUMU BANKA, AS (K) 285.04 319.43 -11% 1554.3 351.2 50 lv Financial services
17 36 GRINDEKS, AS (K) 327.75 165.48 98% 232.0 54.4 42 lv Manufacturing: consumer goods
16 16 CITADELE BANKA, AS (K) 344.75 374.57 -8% 5054.6 397.1 84 Financial services
15 35 AKZ, SIA 348.21 166.18 110% 123.0 52.8 14 lv Manufacturing: industrial products
14 14 LATVIJAS FINIERIS, AS (K) 388.32 421.72 -8% 257.0 34.2 38 lv Manufacturing: industrial products
13 21 TELE2, SIA 393.99 265.38 48% 152.2 59.6 42 IT and telecommunication services
12 10 SEB BANKA, AS (K) 412.91 458.29 -10% 4543.7 477.3 82 Financial services
11 12 ELKO GRUPA, AS (K), 2 427.17 432.16 -1% 1852.1 70.7 22 lv Trade: consumer goods
10 11 TET, SIA (K) 452.81 438.06 3% 253.3 63.8 37 lv IT and telecommunication services
9 6 RIMI LATVIA, SIA 546.06 559.06 -2% 1015.4 60.0 37 Trade: consumer goods
8 13 LATVIJAS MOBILAIS TELEFONS, SIA (K) 585.57 423.67 38% 252.9 82.5 62 IT and telecommunication services
7 7 AUGSTSPRIEGUMA TĪKLS, AS (K) 604.56 506.10 19% 182.2 66.3 89 lv Pārvade un uzglabāšana
6 5 MAXIMA LATVIJA, SIA 650.83 608.06 7% 915.2 72.5 30 Trade: consumer goods
5 8 KRONOSPAN RIGA, SIA 841.06 471.44 78% 305.2 122.6 11 Manufacturing: industrial products
4 3 MIKROTĪKLS, SIA (K) 1308.28 1241.27 5% 378.8 108.8 8 lv Manufacturing: industrial products
3 2 LATVIJAS VALSTS MEŽI, AS (K) 1341.52 1460.07 -8% 405.4 169.5 88 lv Extraction of natural resources
2 1 LATVENERGO, AS (K) 2452.29 2062.15 19% 1065.2 149.2 90 lv Utility services
1 - SWEDBANK BALTICS, AS (K), 1 3167.59 - - 40936.0 3969.0 42 Financial services

(K) placed after company names indicates that consolidated annual reports were used in preparation for the TOP.

* TOP 101 presents enterprise value, except for banks, other credit institutions and insurance companies for which 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 2021.

*** For banks, other credit institutions and insurance companies, the column presents book value of shareholders' equity as at the end of 2021.

¹SWEDBANK BALTICS, AS is a financial holding company for subsidiary banks in Estonia, Latvia and Lithuania. The company is not comparable to SWEDBANK, AS, which was in the TOP of 2021.

²ELKO GRUPA, AS's value is based on financial data from 2021, before the divestment process from all Russian subsidiaries and before finishing the separation of business activities.

³Publicly traded companies' valuation is based on the share price and balance sheet snapshot on June 30th, 2022.

⁴Real estate of the shopping center "Akropole".

⁵PRINTFUL LATVIA, AS and under it consolidated daughter companies' valuation represents only a part of total "Printful" company value.

⁶Company changed name during the year 2022. Formerly, in the TOP of 2021, company was listed under the previous name TAK INVESTĪCIJAS, AS.

⁷Company changed name during the year 2022. Formerly, in the TOP of 2021, company was listed under the previous name LATVIJAS BALZAMS, AS.


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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