For 9 months of 2022, the unaudited consolidated net profit of the AB INVL Baltic Farmland was EUR 580 thousand and the revenue was EUR 535 thousand (for 9 months of 2021 consolidated net profit was EUR 290 thousand and the revenue was EUR 481 thousand).
Additional information:
INVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 535,000 in the first nine months of this year and an unaudited net profit of EUR 580,000. Compared to the same period last year, the company’s revenue grew 11.2% and its net profit doubled. The factor that most impacted the result was the sale in March of a plot of more than 17 hectares of land.
INVL Baltic Farmland’s equity at the end of September was EUR 14.75 million. Equity per share was EUR 4.57 and, taking into account the dividends paid out during the year, increased 12.4% from a year earlier.
“It is encouraging that the company’s results remain stable even in such a turbulent and stressful time for economies and businesses. The entire portfolio of leased land is in Lithuania, where cereal yields this year were larger than last year and prices were also significantly higher,” says Justė Gumovskienė, the director of INVL Farmland Management, which administers INVL Baltic Farmland’s land.
Based on the rental agreements that are in place, this year INVL Baltic Farmland plans to obtain revenue of EUR 718,000 and a consolidated net profit of EUR 646,000. The operating forecasts assume that during this year the value of the company’s land holdings will not change, there will be no further purchases or sales of land, and there will be no changes in provisions for receivables or impact of tenant debts on the size of the administration fee.
INVL Baltic Farmland is listed on the Nasdaq Vilnius stock exchange. Its subsidiaries own approximately 3,000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.
The person authorized to provide additional information:
Director Egle Surpliene
E-mail: [email protected]
