{"id":20676,"date":"2024-05-09T16:08:07","date_gmt":"2024-05-09T13:08:07","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=20676"},"modified":"2024-05-09T16:08:10","modified_gmt":"2024-05-09T13:08:10","slug":"invl-baltic-farmland-had-a-net-profit-of-eur-113000-in-the-first-quarter","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-baltic-farmland-had-a-net-profit-of-eur-113000-in-the-first-quarter\/","title":{"rendered":"INVL Baltic Farmland had a net profit of EUR 113,000 in the first quarter"},"content":{"rendered":"\n
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INVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 200,000 and an unaudited net profit of EUR 113,000 in the first quarter of this year. The figures are 5.3% more and 5% less, respectively, than in the same period last year.<\/p>\n

INVL Baltic Farmland\u2019s equity at the end of March 2024 was EUR 18.4 million, or EUR 5.70 per share. Compared to the end of March 2023, equity per share grew 16.8%.<\/p>\n

\u201cThe situation in farmers\u2019 fields is currently favourable. Crops overwintered well and the spring weather has not done any significant harm. Therefore, a good cereal harvest is expected in 2024, assuming there are no weather anomalies in the country that could adversely affect the coming harvest,\u201d says Just\u0117 Gumovskien\u0117, the director of INVL Farmland Management, which administers INVL Baltic Farmland\u2019s land.<\/p>\n

\u201cStill, it is thought that cereal prices will remain volatile until geopolitical and trade policy issues are resolved. The weather and the upcoming harvest are expected to be among the decisive factors influencing grain market prices across Europe,\u201d she adds.<\/p>\n

Last year the company had consolidated revenue of EUR 794,000, or 10% more than in 2022. Its audited 2023 net profit of EUR 2.643 million was 34% larger than in 2022. Shareholders will be paid EUR 388,000 of dividends for 2023, allocating EUR 0.12 per share.<\/p>\n

This year INVL Baltic Farmland forecasts consolidated revenue of EUR 835,000 and a net profit of EUR 420,000. The forecasts assume that during 2024 the value of the company\u2019s land holdings will not change and its assets will not be revalued, no new agreements on the purchase or sale of land will be signed, and there will be no change in the impairment of trade receivables and no impact of trade receivables on the size of the administration fee.<\/p>\n

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":"

INVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 200,000 and an unaudited net profit of EUR 113,000 in the first quarter of this year. 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