TOP 101 - 2019
Latvia's most valuable enterprises
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TOP 2019 TOP 2018 Company name Value 2019 Value 2018 Change Turnover 2018 EBITDA 2018 CorpGov Score   Industry
98 100 LINSTOW, SIA 47.39 47.30 0% 7.0 5.2 42 Real estate operations
61 74 SS, SIA 80.38 64.76 24% 8.2 7.1 27 lv IT and telecommunication services
88 - EFTEN DOMINA, SIA 51.98 - - 11.6 6.8 29 Real estate operations
51 50 DELTA PROPERTY, SIA 89.61 89.17 0% 12.1 10.3 16 Real estate operations
87 97 LSREF3 RIGA PLAZA, SIA 53.67 47.95 12% 12.1 7.0 11 Real estate operations
56 62 TIRDZNIECĪBAS CENTRS PLESKODĀLE, SIA 81.46 80.08 2% 14.3 9.5 15 Real estate operations
95 91 GROGLASS, SIA 47.81 51.13 -6% 16.4 5.3 14 Manufacturing: industrial products
66 71 BALTIC CONTAINER TERMINAL, SIA 74.22 66.82 11% 16.5 8.7 21 Transport, transit, logistics
85 - RĪGAS UNIVERSĀLAIS TERMINĀLS, SIA (K) 55.63 - - 17.0 7.6 44 Transport, transit, logistics
59 81 LIGHT GUIDE OPTICS INTERNATIONAL, SIA (K) 80.96 57.57 41% 19.3 8.0 30 lv Manufacturing: industrial products
81 - OPTIBET, SIA 59.80 - - 20.9 10.6 30 Consumer services
91 93 AGA, SIA 51.19 49.67 3% 21.5 6.4 34 Trade: energy carriers
53 57 VIESNĪCA LATVIJA, AS 87.07 82.84 5% 23.9 8.9 52 Consumer services
68 70 STREK, SIA (K) 70.45 68.32 3% 26.1 8.0 23 lv Transport, transit, logistics
49 51 RIGA FERTILIZER TERMINAL, SIA 91.28 86.81 5% 27.6 10.4 18 Transport, transit, logistics
86 67 BELAM-RĪGA, SIA 54.28 71.41 -24% 28.1 7.5 29 lv Other commercial services
73 - Ceram Optec, SIA 64.66 - - 29.1 6.5 18 Manufacturing: industrial products
57 52 LATVIJAS GAISA SATIKSME, VAS 81.12 86.33 -6% 30.2 7.2 94 lv Transport, transit, logistics
70 64 ADMIRĀĻU KLUBS, SIA (K) 67.59 76.70 -12% 32.1 8.4 32 Consumer services
101 98 RĪGAS PIENSAIMNIEKS, SIA 46.24 47.95 -4% 32.8 6.1 19 Manufacturing: consumer goods
96 76 AKG THERMOTECHNIK LETTLAND, SIA 47.63 64.06 -26% 34.7 4.9 33 Manufacturing: industrial products
90 - DOUGLAS BALTIC, SIA (K) 51.74 - - 39.0 5.1 31 Trade: consumer goods
31 32 VALSTS NEKUSTAMIE ĪPAŠUMI, VAS 185.99 184.86 1% 39.3 17.4 83 lv Real estate operations
75 69 LATVIJAS LOTO, VAS (K) 63.90 68.95 -7% 40.9 7.1 85 lv Consumer services
82 90 TIETO LATVIA, SIA 58.42 51.21 14% 40.9 5.7 36 IT and telecommunication services
84 - SPORTLAND, SIA 57.36 - - 42.5 5.9 15 Trade: consumer goods
38 41 JOKER LTD, SIA (K) 120.03 119.67 0% 43.2 17.9 14 Consumer services
89 - LOREAL BALTIC, SIA 51.86 - - 45.3 6.8 34 Trade: consumer goods
44 53 STORENT INVESTMENTS, AS (K) 95.70 86.10 11% 45.4 12.7 55 Other commercial services
65 56 CEĻU SATIKSMES DROŠĪBAS DIREKCIJA, VAS (K) 75.29 82.98 -9% 48.1 8.3 94 lv Other commercial services
64 54 BALTICOVO, AS 76.36 83.50 -9% 48.7 8.9 48 lv Manufacturing: consumer goods
93 96 TAK INVESTĪCIJAS, AS (K) 48.43 48.08 1% 50.5 7.0 13 lv Utility services
63 88 RĪGAS ŪDENS, SIA 76.73 53.60 43% 53.7 15.7 63 lv Utility services
20 24 Conexus Baltic Grid, AS 241.00 232.21 4% 54.2 29.0 91 Transport, transit, logistics
32 37 "VENTSPILS NAFTA" TERMINĀLS, SIA 165.99 138.89 20% 57.8 21.2 32 Transport, transit, logistics
28 23 STARPTAUTISKĀ LIDOSTA RĪGA, VAS 203.08 238.07 -15% 60.8 16.3 91 lv Transport, transit, logistics
78 80 CĒSU ALUS, AS 61.64 58.80 5% 61.8 6.4 63 Manufacturing: consumer goods
27 25 OLYMPIC CASINO LATVIA, SIA 204.10 231.86 -12% 61.9 25.9 40 Consumer services
74 42 LATGRAN, SIA 63.94 119.28 -46% 62.1 4.1 21 Manufacturing: energy carriers
100 83 JELD-WEN LATVIJA, SIA 46.45 57.11 -19% 62.7 4.2 36 Manufacturing: industrial products
97 - VIKA WOOD, SIA 47.45 - - 64.8 8.0 39 Manufacturing: industrial products
42 43 KNAUF, SIA 101.72 109.09 -7% 65.8 14.4 33 Manufacturing: industrial products
99 - LEXEL FABRIKA, SIA 46.77 - - 65.8 6.5 36 Manufacturing: industrial products
60 72 CIDO GRUPA, SIA 80.92 65.87 23% 66.4 6.5 30 Manufacturing: consumer goods
45 49 PINDSTRUP LATVIA, SIA (K) 94.08 89.89 5% 71.6 11.4 21 Extraction of natural resources
40 - LATVIJAS BALZAMS, AS 2 112.89 - - 75.1 9.4 87 Manufacturing: consumer goods
72 73 LATVIJAS AUTOCEĻU UZTURĒTĀJS, AS 65.44 65.86 -1% 76.4 10.5 94 lv Construction
26 28 ALFOR, SIA 204.87 219.18 -7% 77.1 26.8 43 Consumer services
71 79 ORKLA CONFECTIONERY & SNACKS LATVIJA, SIA (K) 65.54 59.12 11% 82.2 6.3 42 Trade: consumer goods
48 55 AKZ, SIA 93.68 83.12 13% 82.7 20.5 32 lv Manufacturing: industrial products
41 47 SCHWENK LATVIJA, SIA 3 112.52 93.91 20% 86.9 19.6 36 Manufacturing: industrial products
52 60 EVOLUTION LATVIA, SIA 88.16 81.77 8% 89.0 12.2 32 Other commercial services
80 82 RĪGAS PIENA KOMBINĀTS, AS (K) 59.86 57.47 4% 89.4 7.9 27 Manufacturing: consumer goods
92 - BINDERS, CEĻU BŪVES FIRMA SIA (K) 50.31 - - 99.9 11.1 26 lv Construction
30 40 BITE LATVIJA, SIA (K) 191.20 120.68 58% 106.3 34.1 25 IT and telecommunication services
33 35 DROGAS, AS (K) 161.35 142.39 13% 107.1 14.6 52 Trade: consumer goods
50 61 DOBELES DZIRNAVNIEKS, AS (K) 90.17 80.23 12% 121.4 12.7 22 Manufacturing: consumer goods
16 18 OLAINFARM, AS (K) 284.31 293.67 -3% 124.3 20.8 90 lv Manufacturing: consumer goods
46 59 SIROWA GROUP, SIA (K) 94.02 81.90 15% 129.7 6.2 23 Trade: consumer goods
69 75 FIRMA MADARA 89, SIA (K) 68.12 64.26 6% 129.9 5.9 23 lv Trade: consumer goods
39 38 4 FINANCE, AS 114.88 136.39 -16% 130.3 96.7 38 Financial services
14 27 TELE2, SIA 295.66 221.41 34% 131.4 41.8 70 IT and telecommunication services
21 29 GRINDEKS, AS (K) 238.38 214.49 11% 145.5 18.0 71 lv Manufacturing: consumer goods
58 63 RĪGAS SILTUMS, AS 81.11 77.98 4% 151.7 16.1 65 lv Utility services
62 65 MEGO, SIA (K) 79.50 74.41 7% 162.3 6.8 20 lv Trade: consumer goods
94 - SMARTLYNX AIRLINES, SIA (K) 47.87 - - 171.9 16.9 30 Transport, transit, logistics
36 34 KREISS, SIA 139.88 160.15 -13% 174.1 15.3 32 lv Transport, transit, logistics
76 94 BALTA, AAS 62.24 48.51 28% 175.1 34.4 83 Financial services
79 - VIRŠI-A, AS 59.94 - - 180.3 6.3 26 lv Trade: energy carriers
47 68 PATA, SIA (K) 93.91 70.47 33% 191.1 18.0 29 lv Manufacturing: industrial products
54 66 UPB, AS (K) 86.16 73.90 17% 197.2 17.0 26 lv Construction
17 21 RĪGAS TIRDZNIECĪBAS OSTA, SIA (K) 273.45 263.79 4% 198.3 33.1 19 lv Transport, transit, logistics
83 - TOLMETS, SIA (K) 57.41 - - 201.3 7.7 32 lv Trade: industrial goods
55 48 BALCIA INSURANCE, SE 84.24 92.30 -9% 204.6 50.1 46 lv Financial services
7 8 TET, SIA (K), 1 460.72 415.21 11% 211.9 67.6 89 lv IT and telecommunication services
6 9 LATVIJAS MOBILAIS TELEFONS, SIA (K) 524.07 410.49 28% 216.2 70.1 83 IT and telecommunication services
18 17 KRONOSPAN RIGA, SIA 268.68 294.63 -9% 231.5 51.7 16 Manufacturing: industrial products
23 22 LATVIJAS FINIERIS, AS (K) 214.02 256.95 -17% 250.9 33.9 32 lv Manufacturing: industrial products
3 4 MIKROTĪKLS, SIA 611.62 650.47 -6% 258.7 70.7 29 lv Manufacturing: industrial products
9 14 REPHARM, AS (K) 401.03 350.04 15% 276.2 39.5 16 lv Trade: consumer goods
37 45 DEPO DIY, SIA (K) 120.16 99.17 21% 277.7 15.8 24 lv Trade: consumer goods
67 77 SAMSUNG ELECTRONICS BALTICS, SIA 71.48 62.30 15% 312.1 7.4 38 Trade: consumer goods
34 44 NESTE LATVIJA, SIA 150.45 105.53 43% 329.1 13.9 73 Trade: energy carriers
2 2 LATVIJAS VALSTS MEŽI, AS (K) 753.90 770.50 -2% 333.3 140.9 94 lv Extraction of natural resources
43 46 BTA BALTIC INSURANCE COMPANY, AAS 98.05 96.80 1% 339.7 54.1 84 Financial services
77 - SANITEX, SIA (K) 62.09 - - 342.8 7.4 20 Trade: consumer goods
11 12 LATVIJAS GĀZE, AS (K) 382.00 358.17 7% 344.9 38.4 91 Utility services
8 5 LATVIJAS DZELZCEĻŠ, VAS (K) 420.04 536.04 -22% 365.0 60.0 94 lv Transport, transit, logistics
35 58 AIR BALTIC CORPORATION, AS (K) 142.00 82.28 73% 402.0 40.9 86 lv Transport, transit, logistics
22 31 CIRCLE K LATVIA, SIA 237.77 191.38 24% 425.0 23.5 36 Trade: energy carriers
29 33 SEVERSTAL DISTRIBUTION, SIA (K) 202.53 162.57 25% 723.5 28.6 34 Trade: industrial goods
10 13 MAXIMA LATVIJA, SIA 397.04 351.10 13% 776.6 33.1 69 Trade: consumer goods
1 1 LATVENERGO, AS (K) 1568.54 1704.91 -8% 878.0 257.0 94 lv Utility services
25 16 URALCHEM TRADING, SIA 206.44 295.82 -30% 885.1 17.1 21 Trade: industrial goods
5 7 RIMI LATVIA, SIA 544.24 442.23 23% 893.7 54.4 40 Trade: consumer goods
19 20 ELKO GRUPA, AS (K) 248.77 269.48 -8% 1497.1 24.6 46 Trade: consumer goods
12 10 RIETUMU BANKA, AS (K) 320.65 384.75 -17% 1553.0 471.5 59 lv Financial services
13 19 URALKALI TRADING, SIA 296.35 286.01 4% 1944.3 41.4 21 Trade: industrial goods
24 26 CITADELE BANKA, AS (K) 209.25 228.91 -9% 3052.1 296.8 77 Financial services
15 11 SEB BANKA, AS (K) 284.50 358.46 -21% 3718.6 387.1 100 Financial services
4 3 SWEDBANK, AS (K) 590.89 664.21 -11% 5834.9 808.2 97 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 2018.

** For banks, other credit institutions and insurance companies, the column presents book value of shareholders' equity as at the end of 2018.

1The company name is now changed from Lattelecom, SIA to Tet, SIA.

2Latvijas Balzams, JSC is new in TOP only technically, as last year it was included in the consolidatated annual report of Amber Beverage Group, SIA, which is now reorganized.

3The company name is now changed from Cemex, SIA to Scwhenk Latvija, SIA


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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