Top 10 Largest Companies in Lithuania by Revenue (2026)

Lithuania is the largest of the three Baltic economies — 2.9 million people, GDP just over €80 bn, and by some distance the most concentrated corporate landscape in the region. In the Coface Baltic Top 50, Lithuania accounts for 28 companies, the top five positions, and roughly 68% of the combined turnover of the entire ranking. If you sell B2B into the Baltics, Lithuania is where the volume sits.

The shape of the top 10 tells the story. One holding company — Vilniaus Prekyba — sits behind a retail and pharmacy empire that towers over everything else (Maxima Grupė, Maxima LT, Euroapotheca, Akropolis). A single Polish-owned oil refinery (Orlen Lietuva) generates almost €6 bn of revenue from one site. The state energy group (Ignitis) is in the middle of a multi-billion-euro renewables build-out. And two genuinely global technology companies — Vinted, the European leader in second-hand fashion, and an emerging cluster of fintechs and software exporters — give Vilnius its current reputation as the fastest-growing tech hub in the region.

For an outbound sales leader, that concentration is a gift. Land the right account in the Vilniaus Prekyba group and you can land six. Win Ignitis and you have a reference for every other Baltic utility. The downside is the same — these accounts are heavily prospected, the procurement orgs are seasoned, and a generic outreach gets archived faster than in Riga or Tallinn. The list below is ranked by published FY2024 revenue in EUR; we use ranges only where group reporting hides standalone figures.

1. Vilniaus Prekyba UAB

Founded: 1992 · HQ: Vilnius · Industry: Holding / retail · ~Revenue: €8.02 bn consolidated (2024) · ~Employees: 45,000+ across the group

Vilniaus Prekyba is the holding company behind almost every name you recognise in Baltic and Polish modern retail. Subsidiaries include Maxima Grupė (grocery — Maxima LT, Maxima Latvija, Maxima Eesti, Stokrotka in Poland, Maxima Bulgaria), Euroapotheca (Eurovaistinė pharmacy chain), Ermitazas (home and garden), Akropolis Group (shopping centres) and Franmax. €8.02 bn consolidated turnover in 2024 with €179.3 m net profit. Privately owned by a small group of Lithuanian shareholders led by the Numavičius family. The corporate centre is small relative to revenue — most operating decisions are pushed into the subsidiaries.

For B2B sellers:

• Treat the holding as a doorway, not an account — the holding's CIO and CFO orgs influence group-level frameworks but operating procurement lives in Maxima, Euroapotheca, Akropolis.
• Group-wide categories worth selling at HQ level: ERP, group consolidation, treasury, ESG reporting, cybersecurity standards, master data.
• One vendor framework can roll into 6 subsidiaries across 6 countries — design proposals accordingly.

2. Maxima Grupė UAB

Founded: 1992 · HQ: Vilnius · Industry: Grocery retail · ~Revenue: €6.10 bn (2024) · ~Employees: ~40,000

Maxima Grupė is the operating sub-holding inside Vilniaus Prekyba that runs the grocery chains. €6.10 bn revenue in 2024 with €135.7 m net profit. The group operates ~1,400 stores across Lithuania, Latvia, Estonia, Poland (as Stokrotka) and Bulgaria. By store count it is among the larger grocery groups in CEE; by revenue it is the largest Lithuanian-owned company. Online grocery via Barbora is a substantial and growing share of revenue. Treats Lithuania as the lab — pilots run in Vilnius and roll into the other markets.

For B2B sellers:

• Multi-country rollout potential — winning a category here can mean Latvia + Estonia + Poland + Bulgaria over 24 months.
• E-commerce (Barbora), dark stores and last-mile logistics are real budget lines and a separate buying centre.
• Private-label growth is structural — packaging, supplier compliance, traceability are recurring categories.

3. Orlen Lietuva AB

Founded: 1980 (as Mažeikių Nafta) · HQ: Juodeikiai (refinery) / Vilnius (admin) · Industry: Oil refining · ~Revenue: €5.87 bn (2024) · ~Employees: ~1,500

Orlen Lietuva owns and operates the Mažeikiai refinery — the only oil refinery in the Baltic States — processing roughly 10 million tonnes of crude annually. €5.87 bn revenue in 2024 but a €687 m operating loss as refining margins collapsed. Owned by Polish PKN Orlen since 2006. Lithuania's largest corporate taxpayer in most years (€302 m in 2023). A €970 m conversion-rate upgrade project at the refinery is under way. Strategically reorientated post-2022 — supply now flows from sea (Klaipėda, Būtingė terminals) instead of the old Russian "Druzhba" pipeline.

For B2B sellers:

• Industrial-scale OT, process control, turnaround engineering services — long sales cycles, very large deal sizes.
• Capex programme around the €970 m upgrade is creating sustained spend on EPC, project controls, safety and contractor management.
• EU emissions compliance and decarbonisation pathway (hydrogen, low-carbon fuels) is on the strategic agenda even where procurement is slow.

4. Ignitis Grupė AB

Founded: 2008 (in current form) · HQ: Vilnius · Industry: Energy / utilities · ~Revenue: €2.30 bn (2024) · ~Employees: ~4,500

Ignitis is the largest energy group in the Baltics, state-controlled but with a free float listed on Nasdaq Vilnius and London. €2.30 bn revenue in 2024, adjusted EBITDA of €527.9 m (up 8.9%), capex of €812 m. Runs Lithuania's electricity distribution network (ESO), the country's reserve power generation, and a fast-growing Green Generation portfolio across Lithuania, Poland, Latvia and Estonia. Strategic plan targets a 4–5 GW renewables fleet by 2030 — implying roughly €4–7 bn of capex through the decade.

For B2B sellers:

• Three buying centres — ESO (distribution), Ignitis Renewables (build-out), Ignitis (corporate). Each has its own CIO/CTO function and budget.
• NIS2 critical infrastructure — heavy OT cybersecurity, SCADA, asset performance management spend.
• Listed company means IR, ESG reporting, internal audit and treasury tooling are real categories.

5. Maxima LT UAB

Founded: 1992 · HQ: Vilnius · Industry: Grocery retail (Lithuania-only) · ~Revenue: €2.20 bn (2024) · ~Employees: ~15,000

The Lithuanian operating arm of Maxima Grupė — ~250 stores in Lithuania alone, dominant market share, €2.20 bn revenue in 2024 with €123 m net profit. Operates the X, XX and XXX formats and online grocery via Barbora. Same buying-centre logic as the rest of the Maxima Group, but Maxima LT is the lab where most operational technology is piloted before being rolled out to Latvia, Estonia and Poland.

For B2B sellers:

• If you sell anything store-level — POS, ESL, shrink analytics, computer vision — Maxima LT is the place to land first.
• Largest private-sector employer in Lithuania — HR tech, workforce scheduling, training and labour compliance are perennial spend.
• Barbora (online grocery) is a separate buying centre with its own product, ops and tech leadership.

6. Euroapotheca UAB

Founded: 1998 · HQ: Vilnius · Industry: Pharmacy retail · ~Revenue: €1.66 bn (2024) · ~Employees: ~8,000

Another Vilniaus Prekyba subsidiary. Euroapotheca operates the Eurovaistinė chain in Lithuania (the largest pharmacy network in the country, ~300 stores), Mēness aptieka in Latvia, Apotheka in Estonia, Apoteket Hjärtat (now via partnerships) in some markets, and presence in Poland and Sweden. €1.66 bn revenue in 2024. The most digitised pharmacy operation in the Baltics — online prescription fulfilment, mobile app, health-data integration with state e-health systems.

For B2B sellers:

• Healthcare-IT plays well — e-prescription integration, patient adherence, telehealth bolt-ons.
• Same multi-country rollout logic as Maxima — win in Lithuania, scale across Baltic + Poland + Sweden.
• Regulated retail — pharmacy-specific compliance, cold-chain handling and KYC for controlled substances.

7. Sanitex UAB

Founded: 1992 · HQ: Kaunas · Industry: Wholesale / FMCG distribution / logistics · ~Revenue: €1.65 bn (2024) · ~Employees: ~3,500 (Baltic-wide)

Sanitex is the largest wholesale, distribution and logistics company in Lithuania and Latvia, serving 35,000+ business clients across all three Baltic countries on behalf of 500+ international and local FMCG manufacturers. €1.65 bn revenue in 2024 with €42.1 m profit. Quietly one of the most strategically important companies in the Baltic supply chain — when Sanitex slows, restaurant and convenience-store shelves in three countries go thin within days.

For B2B sellers:

• Logistics tech — WMS, TMS, route optimisation, IoT cold chain — is core operational budget.
• Trade promotion management, vendor analytics and CPG-style data products fit the upstream relationship with manufacturers.
• B2B e-commerce and ordering platforms — Sanitex is the digital gateway for 35,000+ retail and HoReCa buyers.

8. Vinted UAB

Founded: 2008 · HQ: Vilnius · Industry: Online marketplace · ~Revenue: €813 m (2024) · ~Employees: ~2,200

Vinted is the leading second-hand fashion marketplace in Europe and Lithuania's flagship technology export. €813.4 m revenue in 2024 (+36% YoY), €76.7 m net profit (4× the prior year). 100m+ users across 22 European countries. Group now spans the core C2C marketplace, Vinted Go (logistics) and Vinted Pay (payments). Reportedly preparing a share sale at an ~$8 bn valuation, which would make Vinted the most valuable company ever to come out of Lithuania.

For B2B sellers:

• Largest tech employer in Lithuania — engineering, data, security, ML tooling are all real budget lines.
• Vinted Go and Vinted Pay are essentially fintech and logistics startups inside Vinted, with their own procurement velocity.
• Marketing-tech across 22 markets — performance, brand, content moderation and trust/safety platforms.

9. Achemos Grupė UAB

Founded: 1965 (Achema plant) · HQ: Jonava (main plant) / Vilnius (admin) · Industry: Chemicals / fertilisers / logistics / energy · ~Revenue: €989 m group consolidated (2024) · ~Employees: ~5,000 group-wide

Achemos Grupė is one of Lithuania's largest national-capital industrial groups — 40+ companies spanning fertiliser production (AB Achema, the largest nitrogen-fertiliser producer in the Baltics), agribusiness, port handling and logistics (Klaipėdos Smelte), energy, and gas trade. €989 m consolidated revenue in 2024 (down 17.6% on weaker fertiliser pricing), €6.1 m net profit recovering from a 2023 loss. Achema plant has run below full capacity since 2022 due to gas-price pressure and import competition.

For B2B sellers:

• Energy-intensive manufacturer — process optimisation, gas-cost hedging and energy-management tooling have real ROI here.
• Port logistics (Klaipėda) — separate buying centre, different tech stack.
• EU CBAM and fertiliser-specific decarbonisation — strategic agenda for 2026–28.

10. Telia Lietuva AB

Founded: 1992 · HQ: Vilnius · Industry: Telecommunications · ~Revenue: €491 m (2024) · ~Employees: ~1,720

Telia Lietuva is the largest telecom operator in Lithuania — mobile, fibre broadband, IPTV and a growing enterprise IT and cloud services business. €491.1 m revenue in 2024 (+3.1%), adjusted EBITDA margin of 36%. Listed on Nasdaq Vilnius (TEL1L), majority-owned by Swedish-Finnish Telia Company. Cut ~200 roles during 2024 in a productivity programme. Sells corporate connectivity, ICT services and cloud — competes head-on with regional system integrators on enterprise deals.

For B2B sellers:

• Network infrastructure vendor opportunity (Cisco, Juniper, Ericsson, Nokia, observability, SD-WAN).
• Enterprise services arm resells SaaS and cloud — partner-track conversation, not direct end-customer.
• Listed company — IR, ESG and audit tooling is budgeted.

Quick reference: top 10 Lithuania companies

Note on ordering: Achemos Grupė (€989 m) technically sits above Vinted (€813 m) by revenue but its 2024 number is depressed by the Achema plant outage, so reasonable people will rank these two either way. Honourable mentions worth tracking: Lietuvos Geležinkeliai (LTG, state rail group, ~€700 m turnover, 6,000+ employees), Lifosa (Kėdainiai phosphate fertilisers, ~€350 m post-restart, EuroChem-owned), Western Union Processing Lithuania (Vilnius, the largest captive shared-services centre in the country with 2,000+ employees), and Continental Automotive Lithuania (Kaunas, EV and ADAS electronics, fast-growing).

Building a Lithuania sales motion that actually books meetings

Lithuania is the highest-leverage Baltic market for any B2B vendor. Concentration at the top means one well-targeted account can deliver multi-country rollouts. But it also means the buyers have seen every generic pitch already — the CIO of Maxima Grupė, the procurement leadership at Ignitis, the engineering leaders inside Vinted, all hear from foreign vendors weekly. The bar for a first meeting is "you understand our group structure, you know what changed in the last earnings cycle, and you have a specific point of view."

Baltic Lead Database covers every company on this list and roughly 540,000 other Lithuanian decision-makers. Filter by function and seniority — CIO, CFO, Head of E-commerce, Head of Operations, Head of Procurement, VP Engineering, plus the next two layers. Verified emails, direct phones, refresh weekly. Skip the part where ZoomInfo is six quarters behind and LinkedIn Sales Nav charges you per profile.

Book a meeting → with the Baltic Lead Database team to turn this list into a working pipeline of verified Lithuanian decision-makers.