Analytics, Construction, Markets and Companies, Real Estate

Construction company UPB was second with EUR 115.333 million in turnover, followed by door and window producer Jeld-Wen Latvija - EUR 72.233 million.

Further down the list was Valsts Autocelu Uzturetajs state-owned road maintenance company with EUR 64.483 million in annual turnover, Tirdzniecibas Nams Kursi construction materials retailer with EUR 64.372 million, Cemex construction materials plant with EUR 57.986 million, Binders with EUR 55.101 million, Knauf with EUR 54.008 million, Kesko Senukai Latvia with EUR 48.454 million, and Merks with EUR 45.144 million.

According to the Latvian Business Report 2017, turnovers generated by companies operating in the construction industry dropped by 15 percent, and profit declined by 35 percent last year.

Normunds Grinbergs, the president of the Latvian Builders Association, said that a rise has resumed in the construction sector and the main challenge is to ensure a moderate growth.

Latvian Business Annual Report offers an overview of leading Latvian companies in more than 60 sectors based on the data in their annual reports as well as commentaries and forecasts by experts.

The report has been complied by Firmas.lv in cooperation with information agency LETA, the Foreign Investors Council in Latvia, and researchers of the Stockholm School of Economics in Riga and Oxford Research Baltics.