Coface Panorama Focus Baltic Top 50 2013
For the first time, Coface publishes the Baltic Top 50. The companies are ranked based on their turnover in 2012. The total turnover of all the companies surveyed was 36 billion EUR.
Top 3 largest companies in the Baltic region
With a turnover of approximately 6.3 billion EUR, Orlen Lietuva AB, a Polish-based oil and gas company with a branch in Lithuania, ranks first in 2012. Vilniaus Prekyba UAB (2.8 billion EUR, Lithuania) comes in second place and Maxima Grupe UAB (2.4 billion EUR, Lithuania) in third place. These three companies generated almost one third of the total turnover of all Top 50 companies.
Most of the Top 50 companies are based in Lithuania (29). Twelve companies are Latvian and only nine Estonian. Latvia had the highest GDP growth rate in Europe in 2012 (5.1%). It’s also Latvian companies that show the highest growth rate in turnover in this study (average rate: 18%). The turnover of Estonian companies increased by 13% on average, Lithuanian companies had to be satisfied with 9%.
In 2012, the oil and gas sector became one of the sectors with the most dynamic growth rate in the Baltics, with companies posting a plus of 29%. The only sector with a negative growth rate was energy supply. Nevertheless, energy companies still rank third in terms of turnover.