The two biggest fertilizer manufacturers - Lifosa and Achema - broke into the top ten of the list of Lithuania's 100 most valuable companies, compiled by the investment bank for the second time, but not a single constructions company made it to the 2011 ranking.
Valued at 2.772 billion litas (EUR 803.5m), Maxima Grupė lost the most value, around 1.3 billion litas, over the year.
"The fall in the company's value was due to a decrease in comparable multipliers, as well as a 50 percent decline in profits and lower EBITDA. The entire trade sector lost some of its value last year," Karolis Pocius, a partner with GILD Corporate Finance, said.
Meanwhile, Lietuvos Geležinkeliai increased its value to 3.024 billion litas, from 2.678 billion litas the previous year. The company markedly improved its financial results, with EBITDA, sales and assets growing and debt contracting.
The total value of Lithuania's 100 biggest companies last year was estimated at 40 billion litas, compared with 44 billion litas in 2010.
