For 3 months of 2018, the unaudited consolidated net profit of the AB INVL Baltic Farmland group was EUR 71 thousand and the revenue was EUR 140 thousand (for 3 months of 2017 consolidated net profit was EUR 82 thousand, revenue was EUR 134 thousand).
Additional information:
INVL Baltic Farmland, a company that invests in agricultural land, in the first quarter of this year had revenue of EUR 140 thousand and net profit of EUR 71 thousand. Compared to the same period last year, the group’s revenue grew 4.5%, while net profit decreased 13.4%.
INVL Baltic Farmland’s equity at the end of the first quarter was EUR 12.1 million. Equity per share was EUR 3.74 and compared with the first quarter of 2017 increased 7.8%.
“Results for the start of the year were influenced by provisions that were made for accounts receivable. For our part, we’ll continue seeking to effectively manage the property holdings in light of the objectives that have been set,” said Sigita Bizulienė, the director of INVL Farmland Management, which is the administrator of INVL Baltic Farmland’s land. She replaced Kristina Urbonienė in the position as of April this year.
Revenue in the first quarter of the year was 23% of INVL Baltic Farmland’s projection for all of 2018 (EUR 609 thousand), while net profit was 19.7% of the full-year plan (EUR 360 thousand). The operating forecasts were made assuming that the value of the company’s agricultural land holdings will not change this year and there will be no land purchase or sale transactions.
INVL Baltic Farmland is listed on the Nasdaq Vilnius exchange. Its subsidiaries own 3 000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.
The person authorized to provide additional information:
Egle Surpliene
Director
Email: [email protected]
Factsheet_INVL Baltic Farmland_2018 IQ.pdf
