TOP 101 - 2020
Estonia's most valuable enterprises

TOP 2020 TOP 2019 Company name Value 2020 Value 2019 Change Turnover 2019 EBITDA 2019 CorpGov Score   Industry
1 3 EESTI ENERGIA, AS (K) 1614.48 1261.15 28% 956.4 252.5 65 ee Utility services
2 1 TALLINK GRUPP, AS (K) 1194.34 1743.06 -31% 949.1 156.0 71 ee Transport, transit, logistics
3 2 SWEDBANK, AS (K) 935.24 1283.86 -27% 11721.0 1757.0 93 Financial services
4 14 LUMINOR BANK, AS (K), 1 812.37 346.30 135% 13738.7 1632.3 58 Financial services
5 8 RIIGI KINNISVARA, AS (K), 2 800.60 504.22 59% 136.2 59.9 74 ee Real estate operations
6 7 NG INVESTEERINGUD, OÜ (K) 661.29 608.99 9% 872.7 53.4 51 ee Trade: consumer goods
7 11 RIIGIMETSA MAJANDAMISE KESKUS, SA 624.16 458.39 36% 218.7 82.0 45 ee Extraction of natural resources
8 6 TELIA EESTI, AS 606.34 614.47 -1% 313.0 94.8 60 IT and telecommunication services
9 5 TALLINNA SADAM, AS (K) 599.10 656.04 -9% 130.5 74.1 83 ee Transport, transit, logistics
10 12 VIRU KEEMIA GRUPP, AS (K) 597.12 434.85 37% 256.8 116.5 61 ee Manufacturing: energy carriers

(K) Behind the company name indicates that a consolidated report has been used

* TOP 101 presents enterprise value, except for banks, other credit institutions and insurance companies for which the respective colum presents equity value

** For banks, other credit institutions and insurance companies, the column "Turnover 2019" presents book value of total assets as at the end of 2019

*** For banks, other credit institutions and insurance companies, the column "EBITDA 2019" presents book value of shareholders' equity as at the end of 2019

1 The change in value is due to the inclusion of Latvian and Lithuanian business units in the consolidated financial statements of Luminor Estonia

2 The change in value is due to updated methodology

3 Last year Kapitel AS and Merko Ehitus AS were included in the consolidated annual report of Riverito AS. The consolidated report has not been submitted in 2019 due to intra-group restructuring

4 For Admiral Markets Group AS and Swedbank Investeerimisfondid AS the columns "Turnover" presents net gain and comission income 2019, "EBITDA" presents EBT 2019


Comparison between TOP 101 and GDP

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Biggest movers (both up and down)

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Industry comparison

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