Riga, October 17, 2019 – The annual list of the TOP 101 Most Valuable Latvian Companies, prepared by Nasdaq Riga and Prudentia, was made public at a press conference on October 17. Latvenergo, with an enterprise value of EUR 1.57 billion, was acknowledged as the most valuable company in Latvia for the 11th year in a row.
Second place in the TOP 101 was again taken by Latvijas Valsts Meži, with an enterprise value of EUR 753.9 million, while third place went to Mikrotīkls, with a value of EUR 611.6 million. The full TOP 101 list of Latvia’s most valuable companies is available on the website top101.lv.
The total value of the TOP 101 companies this year is EUR 16.9 billion, which in the view of the list’s creators indicates stagnation, since the figure has remained in the range of EUR 17-18 billion for the last 3 years.
“The publication of this year’s results for the TOP 101 most valuable Latvian companies coincides with volatility in the global economy. But analysis of the structure and historical dynamics of the value of Latvia’s TOP 101 companies suggests that amid the challenges of the previous financial crisis, many entrepreneurs managed to use the opportunities offered by crisis, make decisions with an eye to further development, and adapt to market changes,” noted Kārlis Krastiņš, the CEO of Prudentia.
“The changes in TOP 101 companies’ value serve as a barometer of the Latvian economy, demonstrating the importance of having a sustainable developmental strategy and a professional management team at every company,” said Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga.
This year the list of TOP 10 Most Valuable Baltic Companies saw considerable changes. With rapidly improving financial indicators and an aggressive development strategy, Vilniaus Prekyba became the No. 1 most valuable company in the Baltics for 2019. The authors of the ratings predict that, given the pace and international scale of its ongoing expansion, the Vilniaus Prekyba group could well remain atop the Baltic TOP 10 list in coming years as well. See the full Baltic TOP 10 on the website www.top101.lv