Baltic, Business, Good for Business, Markets and Companies, Rating

The three largest companies in the Baltic states by turnover represent Lithuania, according to Coface Top 50 Baltic company rating.

Coface noted that a positive trend in the Baltic states are increase of household consumption and improvements in the labor market.

The top three Baltic companies by turnover have remained unchanged and represent Lithuania. The largest company by turnover last year was oil refining and transportation company Orlen Lietuva with a turnover of EUR 373 bln, followed by Vilniaus Prekyba (EUR 3.17 bln) and Maxima Grupe (EUR 2.68 bln) retailers.

Further down the list is Maxima LT (EUR 1.52 bln, Lithuania), Ericsson Eesti (EUR 1.19 bln, Estonia), Uralchem Trading (EUR 1.13 bln, Latvia), Lietuvos Energija (EUR 1.09 bln, Lithuania), Sanitex (EUR 972.6 million, Lithuania), Achemos Grupe (EUR 796.5 million, Lithuania), and Rimi Latvia (EUR 785.3 million, Latvia). There has been one change in the Top 10 as Lithuania’s Achemos Grupe has made Latvia’s Latvenergo move out of the ten largest companies list.

Lithuania in the Top 50 is represented by 29 companies, Latvia by 13 companies, and Estonia by eight companies.

Coface noted that unemployment level has dropped in all three Baltic states, and the registered unemployment in Latvia has returned to a one-digit figure for the first time since 2008.

Historically the Baltic Top 50 is made of the region’s largest players in chemical, oil and gas business and consumer goods sector, said Coface Latvia director Arnis Blumfelds.

The Coface Top 50 rating ranks companies by their turnover in 2015, excluding financial services providers, banks and insurers. The rating also shows revenues, net profit, the number of employees and other important indicators.