UPB led Latvian construction sector in 2018

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UPB Group was the largest construction enterprise in Latvia during 2018 with turnover of EUR 167.665 million, according to the Latvian Business Annual Report compiled by Firmas.lv and the LETA news service.

In comparison with 2017, the company’s turnover grew 32.5 percent in 2018.

Merks remained the second largest builder with EUR 144.415 million in 2018 turnover, which expanded by 90.1 percent year-on-year, and LNK Industries climbed to the third place as it increased its turnover by 56.6 percent to EUR 93.427 million last year.

LNK Construction came fourth with EUR 60.217 million, up 2.5 times year-on-year. BMGS rose from seventh spot to fifth with EUR 60.001 million in last year’s turnover, which was by 19.8 percent larger than a year before.

Velve dropped from third place in 2017 to sixth place in 2018 with EUR 58.488 million in annual turnover, which dropped 4 percent year-on-year, and Latvijas Energoceltnieks slid from sixth to seventh position with EUR 56.948 million, up 8 percent against 2017.

LEC, Reck Un Empower, which raised turnover 84 percent to EUR 55.133 million, was eighth, and Skonto Buve was ninth with a turnover of EUR 47.049 million, which was by 85.1 percent higher than in 2017.

Rere Buve rounded out the list of Top-10 builders with EUR 45.854 million in last year’s turnover, which was 39.7 percent higher than in 2017. 

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