\tINVL Baltic Farmland, a company that invests in agricultural land, in the first half of this year had revenue of EUR 307 thousand and a net profit of EUR 165 thousand. Compared to the same period last year, the company’s revenue grew 1.7%, while its net profit increased 20.4%.<\/p>\n
\tThe company’s equity at the end of June this year was EUR 13.285 million, or EUR 4.11 per share. Equity per share increased 9.35% from a year earlier, also accounting for dividends that were paid out.<\/p>\n
\t“Challenges that arise in the agriculture sector are fundamentally linked to climate conditions, which this year have been rather favourable. We continue seeking to effectively manage asset holdings focusing on the creation of long-term value,” said Just\u0117 Gumovskien\u0117, the director of INVL Farmland Management, which is the administrator of INVL Baltic Farmland’s land.<\/p>\n
\tThe management of INVL Baltic Farmland also notes that the coronavirus pandemic has impacted the country’s agriculture sector less than other sectors and did not have any material influence on the company’s operating results for the first half of the year. Looking at the current circumstances, it is not forecast to have any significant impact through the end of the year either.<\/p>\n
\tAs regards this year’s operating forecasts, INVL Baltic Farmland plans to get revenue of EUR 652 thousand and earn a consolidated net profit of EUR 390 thousand. INVL Baltic Farmland’s revenue in the first half of the year was 47% of the full-year forecast, while its net profit was 42% of the amount forecast for the year. Excluding the effect of provisions for receivables in the reporting period, the net profit figure would be 50.5% of the full-year forecast.<\/p>\n
\tThe operating forecasts assume that during this year 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 or impact of tenant debts on the size of the administration fee.<\/p>\n
\tINVL Baltic Farmland is listed on the Nasdaq Vilnius stock exchange. Its subsidiaries own nearly 3 000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.<\/p>\n
\tThe person authorized to provide additional information:
\t Egle Surpliene
\t Director
\t E-mail: egle.surpliene@invaldainvl.com
\t <\/p>\n
<\/p>\n
\t