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Company Name / description Sales / % Change Major Shareholder and/or CEO Country of Origin

ArmElNet / electrical utility 51.1 / +5.5 Alex Shnaider UK / Canada

ArmenTel / communications 41.4 / +24.8 OTE Greece

HaiRusGazArd / gas supply 33.2 / -1.2 GazProm Russia / Armenia

Lori / diamond processing 27.0 / -16.8 Haik Arslanian Belgium

Shoghakn / diamond processing 22.7 / -28.7 Lev Leviyev Israel

Flash / fuel imports 19.2 / +41.9 Barsegh Beghlarian Armenia

Makur Yerkat / ore processing 15.3 / +106.9 Chronimet Germany

Yerevan Brandy 14.3 / +20.3 Pernot-Ricard France

Armenian Copper / mining 13.0 / +156.7 Valery Mejlumian Russia / Armenia

Armenian Aluminum / processing 12.0 / +58.2 Oleg Deripaska Russia / Armenia

Apaven / cargo transportation 6.0 / -19.5 Arsen Ghazarian Armenia

Arevakn / diamond processing 5.7 / -18.5 Isaac Tache Belgium

Arsoil / fuel and other imports 4.3 / +3.2 Gurgen Arsenian Armenia

Ararat Cement 4.2 / +41.3 Gagik Tsarukian Armenia

Diamond Company of Armenia 3.5 / +8.5 Gagik Abrahamian Armenia

Coca-Cola Bottlers Armenia 3.4 / N/A Coca-Cola HBC Greece / U.S.

Yerevan Jewelry Plant 2.9 / -2.1 Emil Grigorian Armenia

Mika Cement 2.3 / - 22.8 Mikhail Baghdasarov Armenia / UK

Kotayk Bottlers 1.6 / +3.3 Gagik Tsarukian Armenia

Dimotech / diamond processing N/A / N/A Haik Arslanian Belgium

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