Published: 2019-10-25 08:50:00 CEST
INVL Baltic Farmland
Notification on material event

AB INVL Baltic Farmland unaudited results and factsheet for 9 months of 2019

For 9 months of 2019, the unaudited consolidated net profit of the AB INVL Baltic Farmland group was EUR 247 thousand and the revenue was 453 thousand (for 9 months of 2018 consolidated net profit was EUR 229 thousand, revenue was EUR 422 thousand).

Additional information:

INVL Baltic Farmland, a company that invests in agricultural land, in the first three quarters of this year had revenue of EUR 453 thousand and a consolidated net profit of EUR 247 thousand. 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 thousand), while net profit was 62.5 per cent of the amount forecast for the year (EUR 395 thousand). 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 thousand hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.

 

The person authorized to provide additional information:
         Egle Surpliene
         Director
         E-mail: egle.surpliene@invaldainvl.com

Attachment


Factsheet_2019_3Q_INVL Baltic Farmland.pdf