INVL Baltic Farmland, a company that invests in agricultural land, in the first three quarters of this year had revenue of EUR 453 000 and a consolidated net profit of EUR 247 000. Compared to the same period last year, the company’s revenue grew 7.3%, while its net profit increased 7.9%.
INVL Baltic Farmland’s equity at the end of September this year was EUR 12.55 million, or EUR 3.89 per share. Equity per share increased 9.6% from a year earlier, also taking into account dividends that were paid.
“This year has continued to pose challenges for the agriculture sector – from climate conditions to grain purchase prices, which late in the year were lower than last year. Despite that, we continue seeking to ensure effective asset management,”said Justė Gumovskienė, the director of INVL Farmland Management, which is the administrator of INVL Baltic Farmland’s land.
Considering the company’s operating forecasts for this year, which assume no change in the value of the company’s land holdings, no land purchase or sale transactions, and no changes in provisions for receivables, INVL Baltic Farmland’s revenue in January-September was 69.7% of the full-year forecast (EUR 650 000), while net profit was 62.5 per cent of the amount forecast for the year (EUR 395 000). Excluding the effect of provisions for receivables in the reporting period, the net profit figure would be 73.7% of the full-year forecast.
INVL 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.