The annual top leader JSC Latvenergo ranked second, while the third was JSC Latvian State Forests.
The makers of the top said that despite the top 3 having two state capital companies, this year the number of local capital private companies entering Top101 has increased by nearly 20% compared to state enterprises. 54.5% of the companies entering the top are still foreign capital companies.
The total value of Latvia's most valuable companies entering the Top101 list is EUR 25.2 billion in 2022, and compared to last year's list, the total value has increased by 12%.
Top101 this year has 16 new entrants with a total value of EUR 4,631.2 million, including Swedbank Baltics, the most valuable company of Latvia this year, which, by consolidating the entire business of Swedbank in the Baltic under one company, accounts for 68% of the total value of Top101 new entrants this year.
Top creators also noted the information technology company Mikrotīkls, which last year overcame the €1 billion barrier as a private equity company. This year a new record – a 5% increase in value, or €1.308 billion.
This year's biggest breakthrough is the Gaujas Koks Ltd., which has managed to increase its value by 150% this year, resulting in a value of €231.18 million.
Despite the overall increase in the value of Top101, the inclusion threshold was reduced by €7.27 million, or 10%, with the minimum value of the company falling to €65.61 million. This trend points to a weakening of the pace of economic growth in both the Latvian and European markets as a whole.
The list of the most valuable companies in Latvia, Top101, has been made by Prudentia and Nasdaq Rīga with information support from Firmas.lv since 2005.