{"id":20132,"date":"2024-02-29T17:12:40","date_gmt":"2024-02-29T15:12:40","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=20132"},"modified":"2024-03-05T10:59:13","modified_gmt":"2024-03-05T08:59:13","slug":"invl-baltic-farmland-had-a-net-profit-of-eur-2-643-million-in-2023","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-farmland-had-a-net-profit-of-eur-2-643-million-in-2023\/","title":{"rendered":"INVL Baltic Farmland had a net profit of EUR 2.643 million in 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>INVL Baltic Farmland, a company that invests in agricultural land, had consolidated revenue of EUR 794,000 in 2023 and an audited net profit for the year of EUR 2.643 million. Compared to 2022, the company\u2019s revenue increased 10% last year, and its net profit grew 34%.<\/p>\n<p>\u201cIn recent years, the country&#8217;s agriculture sector has had to deal with not just changing climate conditions and volatile farm-gate prices for cereals, but also high energy costs, changes in crop declaration rules and new restrictions on areas farmers can cultivate. Despite the pessimistic sentiment and constant challenges, we continue striving to work closely and sustainably with players in the agriculture sector. Smooth collaboration with farmers is one of the conditions for successfully managing our portfolio of land and consistently achieving our goals,\u201d says Just\u0117 Gumovskien\u0117, the director of INVL Farmland Management, which administers INVL Baltic Farmland\u2019s land.<\/p>\n<p>On the basis of the lease agreements in place, INVL Baltic Farmland projected consolidated revenue of EUR 790,000 in 2023 and a net profit for the year of EUR 365,000. The forecasts assumed that during 2023 the value of the company\u2019s land holdings would not change, there would be no new purchases or sales of land, and there would be no changes in provisions for receivables or impact of tenant debts on the size of the administration fee. However, according to a valuation by Korporacija Matininkai, the value of INVL Baltic Farmland\u2019s land holdings increased by 14.7% during the year to EUR 20.76 million, or EUR 6.74 thousand per hectare. Excluding the factors not considered in the forecasts and the related corporate income tax expense, INVL Baltic Farmland\u2019s profit would be EUR 395,000.<\/p>\n<p>INVL Baltic Farmland\u2019s equity at the end of December 2023 was EUR 18.29 million, or EUR 5.67 per share. Taking into account the dividends allocated (EUR 0.15 per share, which is 50% more than envisaged in the company\u2019s dividend policy), equity per share grew 16.4% in the year.<\/p>\n<p>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\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":20133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-20132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INVL Baltic Farmland had a net profit of EUR 2.643 million in 2023 - Invalda INVL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-farmland-had-a-net-profit-of-eur-2-643-million-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVL Baltic Farmland had a net profit of EUR 2.643 million in 2023 - 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