2009

The most valuable companies in Estonia 2009.

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GILD100 in English

GILD100 in Estonian

Rank Company  Sector Equity value (m EUR) Equity value (mln EEK) Change compared to 2008
      2009 2008 2009 2008  
1 Eesti Energia AS Utilities sector 1 114 1 496 17 436 23 415 -25,5%
2 Swedbank AS Financial sector 973 4 583 15 225 71 704 -78,8%
3 Eesti Telekom AS Telecommunications 538 1 076 8 418 16 836 -50,0%
4 Tele2 Eesti AS Telecommunications 298 374 4 668 5 856 -20,3%
5 BLRT Grupp AS Metal industry 291 424 4 554 6 639 -31,4%
6 Tallink Grupp AS
(01.12.2007-30.11.2008)		 Transport 256 708 4 006 11 070 -63,8%
7 SEB Pank AS Financial sector 253 1 205 3 964 18 856 -79,0%
8 Elisa Eesti AS Telecommunications 222 297 3 469 4 648 -25,4%
9 Tallinna Sadam AS Transport 219 329 3 424 5 151 -33,5%
10 Tallinna Vesi AS Utilities sector 180 259 2 813 4 056 -30,6%
11 Kunda Nordic Tsement AS Production of building materials 179 240 2 804 3 748 -25,2%
12 Nitrofert AS Chemical industry 148 96 2 313 1 508 53,4%
13 G4S Baltics AS * Security services 138 262 2 162 4 098 -47,2%
14 Viru Keemia Grupp AS Chemical industry 131 179 2 050 2 800 -26,8%
15 A. Le Coq AS Food industry 120 136 1 874 2 120 -11,6%
16 Eesti Raudtee AS Transport 107 100 1 672 1 566 6,7%
17 Transgroup Invest AS Transport 103 228 1 616 3 570 -54,7%
18 If P&C Insurance AS
(If Eesti Kindlustuse AS)		 Financial sector 103 139 1 607 2 170 -26,0%
19 Eesti Gaas AS Utilities sector 87 74 1 362 1 152 18,2%
20 Neste Eesti AS Trade 85 72 1 333 1 123 18,7%
21 ABB AS Production of electrical equipment 85 70 1 331 1 088 22,3%
22 Tallinna Kaubamaja AS Trade 85 318 1 326 4 971 -73,3%
23 Rimi Eesti Food AS Trade 79 104 1 232 1 626 -24,2%
24 Maxit Estonia AS Production of building materials 78 139 1 213 2 170 -44,1%
25 Vopak E.O.S. AS Transport 77 129 1 205 2 021 -40,4%
26 Rakvere Lihakombinaat AS Food industry 75 99 1 172 1 549 -24,3%
27 Magnum AS Trade 75 129 1 168 2 020 -42,2%
28 Riigi Kinnisvara AS Real estate 74 60 1 159 934 24,0%
29 Olympic Entertainment Group AS Entertainment 74 529 1 158 8 269 -86,0%
30 O-I Production Estonia AS
(Järvakandi Klaas AS)		 Glass industry 72 81 1 126 1 269 -11,3%
31 Henkel Makroflex AS Chemical industry 72 66 1 124 1 032 8,9%
32 Riverito AS (Merko Grupp AS) Construction 71 240 1 112 3 749 -70,3%
33 Leibur AS Food industry 70 65 1 098 1 020 7,7%
34 Technomar & Adrem AS Timber industry 66 81 1 034 1 273 -18,8%
35 Eesti Statoil AS Trade 63 81 978 1 262 -22,5%
36 ERGO Kindlustuse AS Financial sector 62 69 964 1 083 -10,9%
37 Spacecom AS Railcar rent 55 26 862 412,5 109,1%
38 Prisma Peremarket AS Trade 55 74 859 1 157 -25,8%
39 ES Sadolin AS Chemical industry 54 81 848 1 272 -33,4%
40 Stockmann AS Trade 54 107 843 1 671 -49,5%
41 Lennuliiklusteeninduse AS Transport 50 76 775 1 191 -34,9%
42 Rocca Al Mare Kaubanduskeskuse AS Real estate 47 50 736 776 -5,1%
43 Eesti Loto AS Entertainment 46 60 724 942 -23,1%
44 Pro Kapital Grupp AS Real estate 46 109 720 1 712 -58,0%
45 Tallinna Lennujaam AS Transport 46 120 715 1 873 -61,8%
46 Eesti AGA AS Chemical industry 44 59 691 927 -25,5%
47 Trigon Capital AS Financial sector 42 148 663 2 318 -71,4%
48 Liviko AS Food industry 42 67 650 1 050 -38,1%
49 Saku  Õlletehas AS ** Food industry 40 102 618 1 596 -61,2%
50 Tamro Eesti OÜ Trade 39 35 609 541 12,4%
51 Levira AS Telecommunications 38 42 588 657 -10,5%
52 Levadia Group OÜ *** Metal industry 37 33 577 516 11,8%
53 Elme Messer Gaas AS Chemical industry 37 38 571 590 -3,1%
54 Kuusakoski AS Metal industry 36 37 569 586 -2,9%
55 Norma AS Production of car parts 34 66 537 1 033 -48,0%
56 Nordmet AS Metal industry 34 67 531 1 050 -49,4%
57 Wendre AS Textile industry 34 57 531 887 -40,2%
58 Konesko AS Production of electrical equipment 34 55 526 864 -39,1%
59 Starman AS Telecommunications 33 73 521 1 144 -54,5%
60 Orica Eesti OÜ Chemical industry 32 38 504 601 -16,2%
61 Nycomed Sefa AS Trade 32 36 500 556 -9,9%
62 Saint-Gobain Glass Estonia AS
(Saint-Gobain Sekurit Eesti AS)		 Glass industry 32 25 500 387 29,0%
63 Nordecon AS (Eesti Ehitus AS) Construction 31 151 491 2 358 -79,2%
64 Elcoteq Tallinn, AS Production of electronical equipment 31 44 490 684 -28,4%
65 Metaprint AS Packaging  31 42 485 653 -25,7%
66 Famar-Desi Grupp AS Real estate 31 69 482 1 086 -55,6%
67 AGE Com OÜ Media 31 49 480 762 -37,1%
68 Transiidikeskuse AS Transport 30 66 476 1 040 -54,2%
69 DSV Transport AS Transport 30 46 469 726 -35,3%
70 Krimelte OÜ Chemical industry 29 46 461 720 -35,9%
71 Filter AS Production of industrial equipment 29 16 460 258 78,2%
72 OG Elektra AS Trade 29 29 457 446 2,4%
73 Cramo Estonia AS Construction equipment rental 29 85 447 1 334 -66,5%
74 Mecro AS Trade 28 96 442 1 507 -70,7%
75 Schenker AS Transport 28 30 435 477 -8,9%
76 Fiesta Real Estate AS Real estate 28 39 433 612 -29,2%
77 ALSTOM Estonia AS
(01.04.2008-31.03.2009)		 Electrical works 26 44 407 695 -41,4%
78 Espak AS Trade 26 46 406 723 -43,8%
79 Ecometal AS Metal industry 26 35 400 546 -26,8%
80 AS Hotelco Real estate 25 65 397 1 023 -61,2%
81 Seesam Rahvusvahelise Kindlustuse AS Financial sector 25 37 397 572 -30,6%
82 T.R. Tamme Auto OÜ Chemical industry 25 46 394 721 -45,4%
83 Meta-EKS SP AS Railcar rent 25 27 391 430 -9,1%
84 Sokotel AS Hotels 24 46 376 738 -49,1%
85 Luterma AS (Kalev AS) Food industry 24 104 370 721 -48,7%
86 Eurodek Synergy OÜ Transport 23 0 368 1 631 -77,4%
87 Freenergy AS Utilities sector 23 27 363 0 -
88 EKE Invest AS Real estate 23 53 361 430 -15,9%
89 Reval Hotelligrupi AS Hotels 23 27 361 826 -56,2%
90 Fortum Elekter AS Utilities sector 23 86 361 422 -14,5%
91 Toyota Baltic AS
(01.04.2008-31.03.2009)		 Trade 22 41 355 1 343 -73,5%
92 Würth AS Trade 22 83 351 643 -45,4%
93 Ühendatud Kapital AS Real estate 22 38 345 1 303 -73,5%
94 Ragn-Sells AS Utilities sector 21 73 345 590 -41,5%
95 Baltika AS Trade 21 146 335 1 138 -70,5%
96 Silberauto AS Trade 21 20 326 2 277 -85,7%
97 Maag Grupp AS Food industry 20 63 322 313 2,7%
98 ELKE Grupi AS Trade 20 176 320 982 -67,4%
99 Silvano Fashion Group AS Trade 20 37 319 2 754 -88,4%
100 Eesti Post AS Postal services 20 37 317 583 -45,6%

GILD 100 is compiled on the basis of the latest official annual financial reports of companies, without considering the financial impact of the current year, even if the analysed companies were under legal obligation to publish quarterly or monthly reports. The disclosure of the estimated value of the companies in the list cannot be regarded as an investment advice service, investment analysis, investment recommendation or provision of any other investment service. The method of comparative assessment is used for compiling the list. GILD Bankers is aware that the assessment results may differ from these when any other method would have been used.

* Estimate
** Carlsberg Breweries AS loan in the amount of 98 million euroshas been elliminated
*** Many importants assets have not been audited