OREANDA-NEWS. Latvenergo AS received the most valuable Latvian company award for the sixth year in a row. Listed in the TOP 101 of Latvia's most valuable companies, prepared by Capital magazine in cooperation with the investment banking company Prudentia IBS and the NASDAQ OMX Riga exchange, the value of Latvenergo AS was estimated at 1.3 billion euro.

This year a list of the ten most valuable companies in the Baltics was published, with Latvenergo taking a respectable fifth place.It is notable that the most valuable companies in the Baltic TOP 10 are each of the country's most significant energy companies, which have a large home market but must also engage in ever-increasing competition among themselves in the neighbouring markets.

Receiving the award, Āris Žīgurs, Chairman of the Management Board of Latvenergo AS, said: "Together, we all form the state - customers, institutions, businesses, and the public, therefore I would like to emphasize that everyone has done his share in allowing Latvenergo AS to grow and be the most valuable company for the sixth time. This year we mark the 75th anniversary of the company, but at the same time we realize that in comparison with other sectors this period of time is not very long, but evolution and improvement has taken place constantly in all aspects. If early in the company's existence we only sold electricity in Riga, today we can be proud that a third of the electricity sold on the market goes to neighbouring countries - Lithuania and Estonia.The next year will not be an exception, and it will bring new challenges, because the electricity market will be opened for Latvian households as well, therefore, to use this opportunity, I welcome you all to choose Latvenergo AS as your electricity trader".

The total value of the companies included in the newest ranking of the 101 most valuable companies has grown in comparison with last year. This year, the total value of the 101 most valuable companies in the ranking is 14.33 billion euro, while last year it was 12.24 billion euro. The value of most companies has grown, but the financial sector and the timber industry stand out especially.

The strategic decision to reconstruct TEC-2 to turn it into the most modern combined heat and power plant in the Baltics, which is equipped with the state of the art technology, was very important for the successful work of Latvenergo, as was the daring idea to enter the capital market by a public issue of bonds, this way gaining invaluable advantages in terms of improving the company's image, recognition, and competitiveness.Good customer feedback is very valuable. It has given Latvenergo AS the opportunity to successfully work in an electricity market on a Baltic wide scale, accept challenges and react to changes, naturally also becoming one of the most valuable companies not only in Latvia but also in the Baltic region.

Special awards were given by the authors of the ranking, Prudentia and the Nasdaq Riga exchange.

This year the ranking of the most valuable companies was compiled for the ninth time, and the sixth time Latvenergo AS was named as the most valuable company by competent experts. While compiling the ranking, the publicly available annual reports of the companies were analysed. The annual reports of 400 companies were analysed this year, selecting the 101 most valuable. The activities of the companies themselves, EBITDA indicators, as well as the situation in the European stock exchanges are analysed.

Latvenergo AS was named as the most valuable company in 2013 as well due to being able to accept new challenges, react to changes, and to use them to its advantage - during this period there was a focused use of the electricity market liberalisation in the Baltics and a successful issue of bonds.

Integration in the Baltic region, keeping up with the times, and even surpassing it is and will be one of the cornerstones of the work of Latvenergo AS, which will most likely allow it to remain among the most valuable companies in the future as well.