Among the largest local capital companies are not only state and municipal capital companies, which are usually among the largest and more profitable companies in Latvia, but also many local private capital companies that have successfully developed their business, including expanding beyond Latvia.
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It concludesLursoft”, Which has compiled the TOP 100 of the largest companies in the local capital. 61 of them are registered in Riga, but the capital is not followed by Pieriga, where a large number of companies are located due to advantageous infrastructure and labor availability, Liepaja. Pieriga is on the list with 12 companies.
The average age of the companies included in this list is 24 years, while the newest companies are traders registered five years ago – SIA “Green Motors”, SIA “Ranvus”, SIA “RX Tirdzniecība” and SIA “Akron Baltic”. One tenth of all listed companies were registered in 1991, including not only state or municipal capital companies, but also successful private capital companies, thus proving that local capital companies are also able to successfully overcome the crises experienced during these years and continue to develop. .
A surge for laboratories
At the top of the list, next to the largest state-owned companies, is the SIA registered in 1996.Mikrotīkls”. Over the last twenty years, the company’s turnover has gradually increased every year, reaching 353.62 million last year. euro. The company’s profit after taxes in 2020 amounted to 82.4 mln. euro. During the year, the company’s turnover increased by 24.93%.
In the submitted annual report, SIA “Mikrotīkls” has indicated that 55 mln. The US market accounted for 32.6 million euros of its turnover in 2020. euros – Poland, 24.4 mln. euros – Russia, 21.8 mln. euro – Indonesia, 21.6 mln. Euro – Czech as well as other markets. Since its establishment, the company has been owned in equal parts by two owners – Arnis Riekstins and US-born John Martin Tallis, who has resided in Latvia since 1995 with a permanent residence permit. Saeima In the second final reading, a law on the recognition of John Martin Tallis as a Latvian citizen was adopted as a matter of urgency. At the end of October, John Martins Tallijs, Chairman of the Board of SIA Mikrotīkls, became the Chairman of the Board and President of the American Chamber of Commerce in Latvia. It should be noted that SIA “Mikrotīkls” in addition to its core business is actively involved in charity, donating, for example, Children’s hospitals Foundation and also to several Latvian educational institutions.
Of the TOP 100 largest Latvian capital companies, the turnover last year, compared to 2019, has increased for 63 companies. The fastest growth in turnover in 2020 was registered in SIA “Central Laboratory”, which, with its involvement in Covid-19 testing, has doubled its turnover. Last year, the laboratory examiner had a turnover of 31.88 million. euros, earned 11.12 mln. less than 3 mln. euro. It should be noted that not only SIA “Centrālā Laboratorija” owned by JSC “Repharm” but also three other companies of this group – JSC “Repharm” have entered the list of TOP 100 largest Latvian capital companies.Recipe Plus”, AS “Sentor Farm Pharmacies ”and JSC“ Health Center Association ”. The total turnover of these four companies in 2020 reached 416.90 million. euros, but the profit – 38.94 mln. euro.
The largest local capital company by turnover in 2020 is JSC “Latvenergo”, Followed by the aforementioned SIA“ Mikrotīkls ”, but in the third place the state capital company“Latvian state forests”Shows Lursoft data.
Party – traders
Almost half of all the TOP 100 largest companies in the local capital represent the trade sector, but the list includes a wide range of industries from agriculture to health and construction. The largest company in the trade sector with local capital is SIA “Depo DIY ”, shows data collected by Lursoft.
SIA “Depo DIY” admits that it has managed to strengthen its leading position in the market due to its competitive retail concept, purposeful operation of the company, low price policy and successful marketing. The annual report submitted by it shows that, despite the operating restrictions imposed on companies in this field, the trader’s turnover has increased by 6.77% over the past year, reaching 266.07 million. euro. The trader’s profit has also grown, amounting to 16.38 million last year. euro In 2020, SIA DEPO DIY was the employer of 1,815 employees.
In 2020, the TOP 100 largest local capital companies provided a total of 53.5 thousand employees with jobs. Sixteen companies have more than 1,000 employees, compared to 74 at least 100 last year. The leader in the number of employees is SIA “Riga traffic”. True, the number of employees in the company has decreased in recent years. If in 2015 “Rīgas satiksme” was the employer of 4135 employees, then last year – 3762.
After SIA “Rīgas satiksme” has been operating at a loss for a long time, the company has ended the last two years with a positive result. In 2019, its profit was 7.73 million. euros, but last year – 0.98 mln. euro.
Lursoft has calculated that the total profit of the TOP 100 largest local capital companies in 2020 increased to 642.10 million. euro. During the year, the indicator has increased by 7.79%. The biggest earner among them last year was AS Latvenergo, followed by SIA Mikrotīkls.
Major regions
The largest local capital company in Kurzeme is the construction company ASUPB”, Which has already celebrated its 30th anniversary this year. The subsidiary of JSC “UPB” SIA “UPB Nams” is also in the fourth place. Among the cities of Kurzeme, the TOP 100 is represented in the list of the largest local capital companies Liepaja companies. Among other things, in addition to the companies of the UPB Group, another Liepāja company has been included in the list of Kurzeme TOP 7 – SIA Tolmets.
Vidzeme The retailer SIA “Firma Madara 89” has emerged as the leader of the list, which in 2020 has increased the turnover to 163.99 million. euros, profit up to 13.45 mln. euro. In the list of the largest Latvian capital companies, SIA “Firma Madara 89” ranks 14th. More than half of the TOP 7 largest local capital companies in Vidzeme are from Valmiera including two construction companies – SIA “Aimasa” and SIA “Woltec”. It should be noted that the construction industry is also represented in the list by SIA “Limbažu ceļi”, which last year managed to increase its turnover to 22.37 million. euros, but a profit of up to 2.61 million. euro.
In Zemgale, traders have taken the leading position in the list of the largest local capital companies. The leader among them is SIA “Elagro Trade”, which last year showed an increase in both turnover and profit, as well as an increase in the amount of taxes paid by the company. In second place is JSCHeather-A”, Which ranks high 12th in the list of the TOP 100 largest local capital companies in Latvia. It should be noted that on November 5 of this year, the public offering of JSC “Virši-A” shares ended, which reached a record number of investors in the history of Latvia. As a result of the public offering, the fuel trader raised new capital of 7.8 million lats. in euros. 9979 investors participated in the offer, including 15 institutional ones. Trading in JSC “Virši-A” shares started on November 11Nasdaq Riga Baltic First North ”.
Unlike other regions, Latgale does not have such a pronounced superiority of the industry. In the first places in the list of the largest local capital companies are food producers – JSC “Preiļu siers”, the real beneficiary of which is Jāzeps Šņepsts, and SIA “Rezekne meat factory ‘. While JSC “Preiļu siers” last year brought a decrease in turnover, SIA “Rēzeknes gaļas kombināts” managed to increase the turnover by 10.74%, reaching 50.46 million. euro, as well as to work profitably again after 2019 at a loss.
The largest local capital company in Pieriga is the aforementioned SIA “Depo DIY”, however, it is by no means the only retail company among the TOP 7 companies. SIA “VITA mārkets” ranks 4th in the list, which has a wide range ofElvi”And“ Alk Outlet ”store network throughout the territory of Latvia. The information available to Lursoft shows that the company currently has 94 registered units. In 2020, SIA “VITA mārkets” managed to increase the turnover to 96.94 million. euros, but a profit of up to 3.3 million. euro. The company has 815 employees.
Methodology
The list includes local capital companies, the shares of which are 100% owned by Latvian entrepreneurs, and where the real beneficiaries are Latvian citizens. In order to be included in the list, the company had to operate at a profit in 2020, and at the time of data selection, it had no economic activity, ceased operations, or liquidation or insolvency proceedings.
The list does not include joint stock companies that have not provided information about their shareholders, as well as indicated that their true beneficiaries cannot be identified, as well as cooperative societies.
Data – November 3 of this year.
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