\tINVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 615 thousand in 2018 and an audited net profit of EUR 1.113 million. Compared to 2017, the company’s revenue grew 7%, while its net profit increased 25.8%.<\/p>\n
\tINVL Baltic Farmland’s equity at the end of 2018 was EUR 12.63 million, or EUR 3.91 per share. Equity per share increased 9.1% from a year earlier, also taking into account dividends that were paid during 2018.<\/p>\n
\tBased on a property assessment, the value of INVL Baltic Farmland’s land holdings increased 7.4% during the year to EUR 13.92 million, or EUR 4 660 per hectare. The valuation was performed by Corporation Matininkai. Excluding the effects of property revaluation and related deferred profit tax and management fees, INVL Baltic Farmland’s net profit would be EUR 347 thousand.<\/p>\n
\tBased on the company’s operating forecasts for last year, which assumed that the value of its land holdings would not change and there would be no land purchase or sale transactions, 2018 revenue was planned at EUR 609 thousand and net profit at EUR 360 thousand.<\/p>\n
\t"We’re pleased that despite a worse harvest last year, the results essentially match what was forecast. We will continue to focus on the goals that have been set for increasing the value of property holdings,” said Just\u0117 Gumovskien\u0117, the director of INVL Farmland Management, which is the administrator of INVL Baltic Farmland’s land.<\/p>\n
\tThe company’s board proposes approving a dividend per share of EUR 0.10 for 2018, allocating a total of EUR 323 thousand for dividends.<\/p>\n
\t“Considering the results the company has achieved, we propose paying the dividends that are envisaged in the company’s dividend policy,” said Alvydas Banys, the chairman of the board of INVL Baltic Farmland. A decision on the payment of dividends will be considered at the ordinary general meeting of company’s shareholders to be held on 22 March.<\/p>\n
\tThe board is proposing as well that shareholders approve an authorisation for INVL Baltic Farmland to acquire its own shares. The proposed minimum share price is EUR 3 and the maximum EUR 5. Permission for the company to acquire its own shares would remain in effect for 18 months from the date of the decision.<\/p>\n
\tThe company’s operating forecasts for this year have also been published. In light of the rental agreements in effect, INVL Baltic Farmland plans during 2019 to receive EUR 650 thousand of revenue and to earn a consolidated net profit of EUR 395 thousand. These forecasts assume that during 2019 the value of the company’s land holdings will not change, there will be no land purchase or sale transactions, and there will be no changes in provisions for receivable amounts.<\/p>\n
\tINVL Baltic Farmland is listed on the Nasdaq Vilnius stock exchange. Its subsidiaries own 3 000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.<\/p>\n
\t <\/p>\n
\tThe person authorized to provide additional information:
\t Egle Surpliene
\t Director
\t E-mail: egle.surpliene@invaldainvl.com<\/p>\n
<\/p>\n
\t