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International Internet Magazine. Baltic States news & analytics Tuesday, 16.07.2019, 17:44

Total value of Latvia’s companies grew to EUR 30.65 bn in 2018 - Lursof

BC, Riga, 08.02.2019.Print version
The total value of Latvia’s companies increased by 27.1% from 2017 to EUR 30.65 bn in 2018, according to estimates released by Lursoft business database provider.

Lursoft said that the companies analyzed in the survey turned over EUR 51.71 bn and earned EUR 2.54 bn after paying taxes in 2017.

Data shows that 1,790 companies were worth more than EUR 1 bn each in 2018, with Latvenergo power utility taking the leading position as its value rose to EUR 2.52 bn last year. Lursoft estimates show that the energy company’s value has been growing for the last couple of years. The value of Latvenergo is now 2.72 times higher than in 2017.

The valuation of Latvia’s businesses was carried out in cooperation with Capitalia, based on the financial data available in the Lursoft databases and companies’ historical turnover, growth and profitability indicators. The companies’ future forecasts and some other factors with the potential to affect their market value were not included in the estimates.

The Lursoft survey reveals that the average value of companies was EUR 10,700 in 2018, an increase of 38.6% against a year before.

Although Latvia’s ten most valuable enterprises are all concentrated in Riga, the average value of enterprises registered in Riga and its area was the lowest in Latvia as the value of 11.7% of all Riga-registered companies was below EUR 1,000.

The average value of businesses grew in all regions of Latvia last year, with the eastern province of Latgale showing the steepest rise as the average value of companies there increased by 60.2%. According to Lursof estimates, 61.1% of all companies in Latgale saw their value rise against 2017.

TOP 10 most valuable Latvia`s enterprises in 2018:

  1. AS „Latvenergo”: 2,52 bn EUR;
  2. SIA „KRONOSPAN Riga”: 0,75 bn EUR;
  3. AS „Latvijas valsts meži”: 0,69 bn EUR;
  4. SIA „Mikrotīkls”: 0,67 bn EUR;
  5. SIA „Lattelecom”: 0,55 bn EUR;
  6. SIA „Rimi Latvia”: 0,53 bn EUR;
  7. SIA „Latvijas Mobilais Telefons”: 0,44 bn EUR;
  8. SIA „URALCHEM Trading”: 0,38 bn EUR
  9. SIA „Severstal Distribution”: 0,37 bn EUR;
  10. SIA „Maxima Latvija”: 0,37 bn EUR.


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