{"id":3131,"date":"2023-07-25T16:04:21","date_gmt":"2023-07-25T13:04:21","guid":{"rendered":"https:\/\/invlbalticfarmland.com\/?p=3131"},"modified":"2023-07-25T17:11:23","modified_gmt":"2023-07-25T14:11:23","slug":"unaudited-results-of-invl-baltic-farmland-for-6-months-of-2023","status":"publish","type":"post","link":"https:\/\/invlbalticfarmland.com\/en\/regulated-information\/unaudited-results-of-invl-baltic-farmland-for-6-months-of-2023\/","title":{"rendered":"Unaudited results of INVL Baltic Farmland for 6 months of 2023"},"content":{"rendered":"\n<section  class=\"invl-block invl-block-1-columns invl-columns\">\n\t\t\t\t\t<div class=\"column column-1-of-1 c-white padding-top-00 padding-left-40 padding-right-30\" >\n\t\t\t\t\t\t<p style=\"text-align: justify;\">Unaudited consolidated net profit of the INVL Baltic Farmland amounted to EUR 218,000 for 6 months of 2023 and the revenue was EUR 379,000 (for 6 months of 2022 consolidated net profit was EUR 483,000 and revenue was EUR 358,000).<\/p>\n<p style=\"text-align: justify;\"><em>Additional information:<\/em><\/p>\n<p style=\"text-align: justify;\">INVL Baltic Farmland, a company that invests in agricultural land, had an unaudited net profit of EUR 218,000 in January-June this year, or 54.9% less than in the first half of 2022 when the results were significantly affected by gains from the land sale transaction. Excluding the impact of the sale of land, net profit in the first half of this year was 17.5% higher than during the same period last year.<\/p>\n<p style=\"text-align: justify;\">The company\u2019s revenue in January-June 2023 was EUR 379,000, or 5.9% more than during the same period last year.<\/p>\n<p style=\"text-align: justify;\">\u201cDry weather in Lithuania has done considerable damage to crops, but the harvest, which has just begun, will show the extent of the drought\u2019s effects more clearly. Farmers expect cereal yields to be lower than the long-term average, but the change should not be drastic and the situation in the market remains stable at the moment. Despite the challenges, we continue to work successfully with farmers to achieve the goals that have been set,\u201d says Just\u0117 Gumovskien\u0117, the director of INVL Farmland Management, which administers INVL Baltic Farmland\u2019s land.<\/p>\n<p style=\"text-align: justify;\">She said the situation on the cereals market has become more stable this year compared to 2022. As usual, changes can be observed in the prices of the various cereals, but they are not as drastic as those seen during last year\u2019s season.<\/p>\n<p style=\"text-align: justify;\">INVL Baltic Farmland\u2019s equity at the end of June this year was EUR 15.869 million. Equity per share was EUR 4.92 and, taking into account the dividends that were allocated, increased 11.7% from a year earlier.<\/p>\n<p style=\"text-align: justify;\">This year INVL Baltic Farmland expects consolidated revenue of EUR 790,000 and a net profit of EUR 365,000. The forecasts assume that during 2023 the value of the company\u2019s land holdings will not change, there will be no new 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.<\/p>\n<p style=\"text-align: justify;\">In 2022, INVL Baltic Farmland had consolidated revenue of EUR 722,000 and a net profit of EUR 1.97 million. Of that, EUR 484,000 of dividends were paid to shareholders, or EUR 0.15 per share, which is 50% more than the EUR 0.10 per share amount stipulated in the company\u2019s dividend policy.<\/p>\n<p style=\"text-align: justify;\">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.<\/p>\n<p style=\"text-align: justify;\">The person authorized to provide additional information:<br \/>\nDirector Egle Surpliene<br \/>\nE-mail:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=7Zf89za2OVNNHD66uyF_6SAJpPMaGQDRw7iKkcWAQQF6tQRO13AeYy5Pnh8SW-H4G5hfI0f1n05Vy5tv-YfOFY03naDwiLqAKp16rXgrZcr42ik2QTx0icPOfH2gl6ddOE0ErC3l_qkDClKB6X8YDy7WnDQp7Bz8VRjCdxrhDxvyFQPGCQNfmNfGbQDBeHrJcZNVfmiWuVV-k--kmeUcg_T28OCOJgHK9w1QdW155aJVcPvZu2YdwwEbjilcdIO7l6GP6Ziu32vaazWdqdRBXGhxa5X6Imba8Zxku_3N4zLKM-i17EtY_uiWyqXeHbOV\">egle.surpliene@invaldainvl.com<\/a><\/p>\n<p>Attachments:<\/p>\n<p><a href=\"https:\/\/invlbalticfarmland.com\/wp-content\/uploads\/2023\/07\/Interim-report-2023-IH-together-with-financial-statement-and-confirmation-of-RP.pdf\">Interim report 2023 IH together with financial statement and confirmation of RP<\/a><\/p>\n<p><a href=\"https:\/\/invlbalticfarmland.com\/wp-content\/uploads\/2023\/07\/INVL_BF_factsheet_2023-IH.pdf\">INVL_BF_factsheet_2023 IH<\/a><\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Unaudited consolidated net profit of the INVL Baltic Farmland amounted to EUR 218,000 for 6 months of 2023 and the revenue was EUR 379,000 (for 6 months of 2022 consolidated net profit was EUR 483,000 and revenue was EUR 358,000).<\/p>\n","protected":false},"author":14,"featured_media":2866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-3131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulated-information"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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