The company also explains that this year Latvenergo is characterized by special operating conditions that have affected the energy sector not only in Latvia and the Baltics, but all over the world. Incorporating the new business directions more and more dynamically into its operations, industry-leading results have been achieved both in the installation of solar panels and in the development of the electromobility service, and work has begun on the preparation of a wind farm construction project. Thus, the Latvenergo Group is in line with the European Union’s ambitious climate neutrality goals in a way that benefits society, energy independence and competitiveness.
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The total value of the most valuable companies in Latvia included in the list in 2021 has reached 22.5 billion euros, and compared to last year’s list, the total value has increased by 37% this year. In order to be included in the “Top 101” list, the value of the company had to be 72.88 million euros this year, compared to 49.39 million euros a year earlier or 47.6% higher.
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For the second year in a row, SJSC Latvijas valsts meži retains the second place in the list of “Top 101”, reaching a company value of 1.5 billion euros and showing a 26% increase compared to the value in the top of last year.
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In the fourth place in the list with the value of 964.31 million euros is taken by AS “Swedbank”, in the fifth place is SIA “Maxima Latvija” with the value of 608.06 million euros, in the sixth place – SIA “Rimi Latvia” with the value of 559.06 million euros, in the seventh place – JSC “Augstsprieguma tīkls” with a value of 506.1 million euros.
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SIA “Kronospan Riga” with a value of 471.44 million euros is ranked eighth in the Top 101, JSC “Latvijas gāze” with a value of 463.81 million is ranked ninth, and AS “SEB banka” with a value of 458.29 million is ranked tenth. the value of the euro.
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The authors of the list note that JSC “Elko grupa”, a wholesaler of information technology (IT) products, consumer electronics and solutions, has also experienced a breakthrough value of up to 432.2 million euros, showing a 71% change in value increase compared to last year’s top. the highest turnover among all companies in the Top 101.
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Ģirts Rungainis, the founder and partner of Prudentia, points out that the rapid increase in the value of the total Top 101 most valuable Latvian companies and especially the increase in the share of Latvian private equity companies suggests that private companies, which are the cornerstone of the Latvian economy and sales of services on a global scale will not only continue to increase Latvia’s prosperity, but will soon become the most valuable “Top 101” companies.
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Despite a significant increase in the value of the entry threshold, this year the list of “Top 101” also includes 13 newcomers, including the companies “Madara Cosmetics” and AS “Virši-A” listed on the Nasdaq Riga stock exchange.
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Along with the most valuable company “Top 101” in Latvia, this year for the first time also published the list of the most valuable companies in the Baltics “Top 30”, which was created in cooperation with the company “Confidentus”. For the third year in a row, the Lithuanian “Vilniaus Prekyba” with a value of 4.7 billion euros has been recognized as the most valuable company in the Baltic list.
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Baltic “Top 30” data show that despite the restrictions related to Covid-19, Vilniaus Prekyba has increased its value by one billion euros – from 3.6 billion euros in 2020 to 4.7 billion euros in 2021.
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For the first time, Lithuania’s Thermo Fisher Scientific Baltics is in second place in the Baltics, while the Swedbank Group is in third place.
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The “Top 101” reflects the company’s business value. The exception is banks and insurers, for which the value of equity is reflected.
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The list of the most valuable companies in Latvia “Top 101” since 2005 is formed by “Prudentia” and “Nasdaq Riga”. Starting in 2020, Prudentia, in cooperation with Nasdaq Tallinn, will also offer the company’s most valuable company, Top 101, to the public. The top of the most valuable companies provides an opportunity for entrepreneurs, industry experts and the general public to gain a comprehensive insight into the growth, compliance with the principles of corporate governance, development and competitiveness of Latvian and Estonian companies.
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