Analytics, Latvia, Rating, Retail, Technology

Mikrotikls, which posted EUR 223.285 million in turnover last year, was the second largest company in Latvian IT and computer technology industry in 2016. Mikrotikls was also the industry's most profitable company, with a profit margin of 29.67% and a total profit of EUR 66.242 million.

These same two companies were also the largest IT and computer technology companies in Latvia in 2015.

Evolution Latvia ranked third last year, up from sixth place in 2015, with a turnover of 58.283 million (54% increase on 2015). The company is also the largest employer in the industry with a staff of 2,285.

Company Also Latvia has moved from third to fourth place in the ranking as the company's turnover decreased by one-fifth to EUR 56.207 million in 2016.

Tieto Latvia, which posted EUR 39.381 million in turnover last year, was ranked fifth - same as in 2015.

MoonCom went two places down, from fourth to sixth last year, as the company's turnover reduced 13% to EUR 37.771 million in 2017.

Data Tech Systems remained seventh largest company last year with a turnover of EUR 31.013 million, followed by C.T.Co in eighth place (up from 10th place in 2015) that turned over EUR 23.689 million in 2017, company Capital in ninth place (8th in 2015) that posted EUR 21.501 million in turnover, and Tele2 Shared Service Center in tenth place with EUR 19.986 million in turnover.

The latest edition of the Latvian Business Annual Report features expert opinions and predictions, and in-depth business environment analysis.