May 2026
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Largest Public Companies in Lithuania
Benchmark revenue and EBITDA valuation multiples for public comps like
Ignitis, Telia Lietuva, Baltic Classifieds Group, Artea Bank and Litgrid.
 | Ignitis Group AB is engaged in green electricity generation and development of green and flexible technologies, energy distribution and supply, development of energy-smart solutions and other related activities. It is focusing on green generation and green flexibility technologies: onshore and offshore wind, batteries, pumped-storage hydro and power-to-X (P2X). Its business segments include Green Capacities, Networks, Reserve Capacities, Customers & Solutions, and Others. The company derives maximum revenue from Customers & Solutions segment. Geographically, it operates in Lithuania, Poland, Latvia, Finland, Estonia and Other Countries, out of which Lithuania generates majority revenue. | $25 | +2% | $2B | $4B | 1.4x | 6.6x | ||
| Telia Lietuva AB operates in the telecom industry engaged in telecommunications, TV, and IT services and solutions Throughout Lithuania. It provides services to residents, enterprises, public sector institutions, and non-governmental organizations. It is also a service provider to other local and international telecommunications operators. The company has two operating segments; The business customer segment (B2B) includes services sales and customer care for the business customers and operators including retail and wholesale telecommunication and IT services, The private customer segment (B2C) includes service and customer care for private customers, and the Other segment includes the technology division and the support units financial performance. | $2 | +33% | $1B | $2B | 2.7x | 6.9x | ||
| Baltic Classifieds Group PLC is an online classifieds group in the Baltics which owns and operates various vertical and generalist online classifieds portals in Estonia, Latvia, and Lithuania. Its online classifieds portfolio comprises vertical online classifieds portals, including vertical portals for automotive, real estate, and jobs and services, and a few generalist portals, offering a wide line of products. The main focus of the Group is operating online classifieds platforms for automotive, real estate, jobs and services, and general merchandise in the Baltics. lt generates revenue from fees for service packages based on the number of job ad postings; fees for short-term services including job ad promotion, job ads, and access to the resume database. | $3 | -47% | $1B | $1B | 11.4x | 14.7x | ||
| Artea Bankas AB provides daily finances to small and medium-sized businesses. | $1 | +3% | $672M | $2B | 8.5x | — | ||
| Litgrid AB is an operator of an electricity transmission system operating electricity transmission in Lithuania. It is responsible for integrating the national power system into the European power infrastructure and electricity market. The business activity of the group functions under various segments, namely Electricity transmission and related services activities, and Other income. Geographically, the business presence of the firm is seen in the regions of Lithuania, Norway, Sweden, Latvia, Estonia, and others of which the Lithuania region accounts for the majority of the revenue. | $1 | +21% | $591M | $621M | 1.2x | 10.3x | ||
| Invalda INVL AB is an asset management company. It operates through the Asset management and Historical Investments activity segments. The Asset management segment includes pension, investment funds, alternative investments (private equity, real assets, and private debt) and portfolio management, financial brokerage, and land administration services. The Historical Investments activity segment includes the group investment activities to the unconsolidated subsidiaries, associates, and financial assets at fair value and administrative activities of the companies. The main investment activities of the company are Agriculture; Life insurance; Facility management; Real estate; and Bank activities. The majority of the company's revenue comes from the Asset management segment. | $33 | +50% | $402M | $388M | 6.0x | 7.7x | ||
| AB Akola Group produces, prepares, and sells agricultural and food products, as well as supplies goods and provides services to farmers. The main products it produces and sells are grains, oilseeds, feed and raw materials for them, milk, poultry and its products, flour and their products, instant products, pet food, veterinary pharmaceutical goods and goods for farmers. Its segment involves Partners for farmers, Farming, Food production, and Others. It derives maximum revenue from Partners for Farmers segment. Geographically, the company operates in Lithuania, Europe (excluding Scandinavian countries, CIS and Lithuania), Scandinavian countries. Africa, Asia, CIS and Others. | $2 | +23% | $327M | $785M | 0.4x | 5.9x | ||
| Amber Grid AB is a part of the oil and gas sector. It is a natural gas transmission system operator in Lithuania. It is responsible for maintaining the natural gas transmission system for users of the natural gas infrastructure, operation, maintenance, and development. The company's transmission system mainly consists of gas pipelines, gas compressor stations, metering stations and distribution pipelines corrosion protection devices, data transmission, and communication systems. The company reports in one segment that is natural gas transmission operations. | $1 | +0% | $252M | $375M | 4.6x | 17.9x | ||
| Apranga APB is a fashion retailer in the Baltic States that has partnerships with various European and international brands. The company operates and utilizes retail multi-brand stores, such as Apranga, Aprangos galerija, City, and Mados Linija, etc, and e-commerce platforms (owned and third party) to sell clothes, footwear, and other related accessories. It serves key markets such as Lithuania, Latvia, and Estonia and represents different customer groups according to the main retail segments of its activities: Economy, Youth, Business, Luxury, Zara, Outlets, and Footwear. The group's reportable segments include Lithuania, which derives maximum revenue, Latvia, and Estonia. | $4 | +35% | $243M | $295M | 0.8x | 5.8x | ||
| KN Energies AB is a Lithuania-based international energy terminal operating company that provides safe and reliable flows of liquid energy, and loading of chemicals and raw materials for consumers of the Baltic region while providing clients around the world with the knowledge and skills to develop infrastructure projects of sustainable energy. The company covers the main areas of activity, liquid energy products, terminals of liquefied natural gas (LNG), and new energy types such as synthetic fuels, hydrogen and its compounds, and other alternative energy carriers, as well as carbon capture and storage. The segments of the company are Liquid energy terminals (LET) and LNG business further bifurcated as LNG terminal (LNGT), and LNG commercial (comLNG). | $0 | +42% | $187M | $493M | 4.0x | 7.6x | ||
| Vilkyskiu pienine AB, through its subsidiaries, is engaged in milk processing and the production of dairy products. The company specializes in the production of cheese, mozzarella, blue cheese, other cheese products, and other fresh dairy products such as butter, yogurts, curd, sour cream, and milk. The company's operating segments are Cheese, cheese products, and other, Dry milk products, Fresh milk products, and Industrial cream. Majority of the company's revenue is generated through Cheese, cheese products and other segments. | $14 | +3% | $164M | $237M | 0.7x | 11.4x | ||
| Grigeo Group AB is a Lithuania-based company. Along with its subsidiaries, it principally operates in the paper and wood industry. The group's business processes cover almost the entire processing cycle of wood and paper components from the tree up to the final product. Its product portfolio comprises hygienic papers such as napkins, tissues, paper towels, toilet and cleaning papers; containerboard; honeycomb paper core; corrugated cardboard and packaging; and hardboard. The Group has three reportable segments: paper and paper products, which generate maximum revenue, wood hardboards and wood products, and raw materials for corrugated cardboard and related products. Geographically, it generates maximum revenue from the European Union, followed by Lithuania, and Other countries. | $1 | +1% | $163M | $184M | 0.6x | 5.1x | ||
| Rokiskio Suris AB is engaged in the production and sales of dairy products company in Lithuania. The company operates in two segments: fresh milk products and cheese and other dairy products. Some of its products are hard cheese, semi-hard cheese, butter, milk cream, sour cream, sour milk, yogurt, curd, fermented cheese, skimmed milk powder, and curd cheese. Its geographical segments are Lithuania, European Union countries, Near East, North America, Far East, and Other countries. | $5 | +12% | $159M | $186M | 0.4x | 5.2x | ||
| Zemaitijos Pienas AB, along with its subsidiaries is engaged in production and sale of dairy products. Its products include cheese and cheese products, pre-packaged cheese, cream, buttermilk products mixed spreads, milk fat, pasteurized cream, dried milk products, and fresh dairy products. The company markets its products under Dziugas, Germantas, Zemaitijos, Magija, Pik-Nik, Rambyno, Dobilas, Gaja and TICHE, etc. Zemaitijos generates the majority of its revenue from Lithuania. | $3 | -11% | $120M | $113M | 0.3x | 3.3x | ||
| Kauno Energija AB is a company engaged in the supply of heat and hot water production and sale of electricity, and the maintenance of collector-tunnels. In addition, the company is also involved in electricity generation and distribution. The company carries out supervision of indoor heat and hot water supply systems, repair and maintenance of heat unit equipment, and provides rental services for premises. The company generates a vast majority of its revenues from heat supplies. | $2 | +21% | $101M | $163M | 1.4x | 4.5x | ||
| Pieno zvaigzdes AB is engaged in the production and sales of dairy products to retail stores directly and through distributors. The company's reportable segments are cheese, dry dairy products, ice cream, and fresh dairy products. It derives a majority of its revenue from fresh dairy products. Some of its product categories include mozzarella, cultured buttermilk, greek-style yogurt, sour cream, kefir, fermented cheese, grain curd, and others. Geographically, it has a presence in Lithuania, Italy, Germany, Latvia, Great Britain, the USA, Indonesia, Israel, and other countries. The majority of the company's revenue is generated from Lithuania. | $2 | -1% | $84M | $104M | 0.4x | 7.3x | ||
| INVL Technology UTIB operates as a closed-end fund (CEF) that invests in and develops European IT businesses. The company is headquartered in Vilnius and listed on the Nasdaq Vilnius stock exchange. INVL Technology owns 3 company groups: Novian (a Baltic IT company), NRD Companies (a GovTech company), and NRD Cyber Security (a cybersecurity company). INVL Technology develops businesses to create value for shareholders. Geographically, it operates in various countries in Europe, Central America, South and Southeast Asia, and Sub-Saharan Africa. | $6 | +40% | $70M | $68M | 3.3x | 4.4x | ||
| Vilniaus Baldai AB is a Lithuania-based manufacturer of lightweight construction cabinet furniture. The company designs and produces flat-pack furniture. The company operates in one segment that is furniture which includes sales of raw materials and finished production. It derives the majority of its revenue from the sale of furniture in the European Union countries followed by non-European Union countries and Lithuania. | $12 | -13% | $47M | $83M | 0.7x | 6.6x | ||
| INVL Baltic Real Estate is a real estate investment company seeks to ensure the growth of rental income and earn from investments in commercial real estate. The companies owned by INVL Baltic Real Estate invested in commercial real estate: business centers, manufacturing and warehouse properties in Lithuania and Latvia. All the properties are characterized by high occupancy rates and generate stable financial flows, most of them has further development potential. INVL Baltic Real Estate is operating as a closed-end investment company. | $4 | +18% | $30M | $50M | 10.5x | 9.0x | ||
| INVL Baltic Farmland AB is an investment company. The company manages shares of entities investing in agricultural land and provides finance. The company owns agricultural land in Lithuania, which is rented to farmers and agricultural companies. The company focuses on the growth of the quality of owned land and environmental sustainability. The company operates in a single segment of Agricultural land. The company generates revenue from lease, interest, and other income. | $8 | -6% | $25M | $25M | 24.4x | 18.2x | ||
| AUGA Group AB is a group of companies that develops emission-reducing agricultural technologies, applies a sustainable farming model and offers more sustainable organic products to consumers and raw materials to processors. The AUGA group is developing biomethane infrastructure, a hybrid biomethane-electric tractor and other agricultural machinery, as well as methane-reducing specialized feed technology for cattle and applying regenerative crop rotation, technology-based agricultural activities include crops, livestock and mushroom growing. The company's operating segments are as follows: dairy, crop growing, mushrooms growing, consumer packaged goods, and others. | $0 | -20% | $18M | $151M | 2.5x | 17.0x | ||
| East West Agro AB is an agricultural machinery manufacturer and trader in Lithuania. The company is engaged in the manufacturing of agricultural machinery and spare parts of agricultural machinery such as tractors, harvesters, mowers, cultivators, compaction rollers, fertilizer equipment, and tractor accessories among others. | $18 | +1% | $18M | $25M | 0.5x | 5.5x | ||
| K2 LT AB is a funeral company engaged in carrying out the cremation services. It provides services like storage remains, farewell rooms, and others. The company provides different types of Urns and cremation coffins with different price ranges. | $35 | +1% | $11M | $10M | 4.5x | 2.6x | ||
| NEO Finance AB is engaged in providing financial services. It owns and operates a Peer-to-peer lending platform under the brand name Paskolu Klubas that enables retail lenders to lend money directly to retail borrowers. Revenue from this business is generated in two main ways: an intermediary fee charged from borrowers on installments made and interest earned by co-investing with lenders. In addition, through Neopay (e-money), the company operates as a payment service provider in the Baltic and other regions, and through Finomark, a crowdfunding platform, it offers fundraising and investment solutions for both companies and investors, by offering loans to small and medium-sized businesses. A majority of the company's revenue is generated from its peer-to-peer lending business in Lithuania. | $3 | +1% | $11M | ($13M) | (1.4x) | (5.9x) | ||
| Novaturas AB is an organizer of recreational and sightseeing tours in the Baltic States. Its business segments include Flight package tours, Sightseeing tours by plane, Sightseeing tours by coach, and Others. The company takes care of holiday and sightseeing tours by charter flights, sightseeing tours to far destinations, and bus tours. It offers various traveling-related services including flight tickets and hotel bookings. | $1 | -34% | $7M | $15M | 0.1x | 27.4x | ||
| Utenos TrikotaĹľas AB is a knit-wear and textile article. It operates through two main business areas: the Production of Knitted Articles and the Production of Working Clothes. The company derives maximum revenue from the production of the knitted articles segment. DACH (Germany, Austria, and Switzerland); Scandinavia (Sweden, Denmark, Norway, and Finland); and Lithuania markets. | $0 | +27% | $4M | $10M | 0.4x | 33.4x | ||
| Median | $3 | +3% | $140M | $174M | 1.3x | 6.9x |
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