Unaudited consolidated net profit as well as consolidated net profit attributable to shareholders of INVL Baltic Farmland amounted to LTL 194 thousand (EUR 56.2 thousand).
The financial statements cover the interim financial period of the company, starting from the company’s establishment date 29 April 2014 and ending on 30 September 2014, therefore there are no comparative data.
Additional information:
INVL Baltic Farmland announced its results for the nine months of 2014. At the end of September, 2014 INVL Baltic Farmland consolidated equity was equal to LTL 34.177 million (EUR 9.9 million) or LTL 10.38 (EUR 3.01) per share. INVL Baltic Farmland uses no leverage.
Currently having around 3 thousand hectares under management through subsidiaries INVL Baltic Farmland has started its activities in the end of April 2014 after a separation from Invalda LT, one of the major companies in Lithuania investing in other businesses and managing assets. Due to this fact, income and profit announced represent only five months of activity. The result is LTL 194 thousand (EUR 56.2 thousand) of net profit.
The main recent event in the farmland market was enforcing of farmland sales restriction law in May 2014. The law diminishes the number of potential farmland buyers and bans farmers from acquiring more than 500 hectares of farmland in total.
“Taking all these things into account, farmland demand has dropped and expansion opportunities have been restricted, however at the same time the demand for leased farmland has increased – this will influence the results in 2015.“ – Darius Sulnis, director of INVL Baltic Farmland, said.
INVL Baltic Farmland shares are not for those looking for speculative price increases, but instead for those who are willing to get higher return from rent increase compared to bank deposit and additionally earn from farmland value growth.
The person authorized to provide additional information:
Darius Sulnis
Director
E-mail:[email protected]
INVL Baltic Farmland_Confirmation of responsible persons_2014_IIIQ.pdf
INVL Baltic Farmland_financial statements_2014_IIIQ.pdf
INVL Baltic Farmland_fact sheet_2014_IIIQ.pdf
