INVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 665,000 in 2021 and an audited net profit of EUR 1.411 million for the year. Compared to 2020, the company’s revenue grew 2.5% and its net profit increased 58%.
INVL Baltic Farmland’s equity at the end of 2021 was EUR 14.9 million, or EUR 4.63 per share. Equity per share increased 10% during the year, also accounting for dividends paid out in 2021.
A valuation of INVL Baltic Farmland’s assets at the end of 2021 showed that the value of its land holdings increased 8% during the year to EUR 16.6 million, or EUR 5,400 per hectare, considering the total plot area owned. The valuation was performed by Korporacija Matininkai.
INVL Baltic Farmland had published a forecast that its revenue in 2021 would be EUR 665,000 and its net profit would be EUR 385,000.
The forecast was made assuming that the value of agricultural land on the balance sheet would not change and a change in customer debts was not considered. Excluding the factors not considered in the forecast and related profit tax expenses, INVL Baltic Farmland’s profit would be EUR 359,000. INVL Baltic Farmland can thus be said to have met and exceeded its financial targets for 2021 amid favourable market trends which allowed it to increase the value of its assets.
“2021 remained a strong and successful year. Favourable climate conditions and high grain prices the last couple of years have allowed farmers to improve their situation and achieve good farming results,” said Justė Gumovskienė, the director of INVL Farmland Management, which administers INVL Baltic Farmland’s land
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.
Consolidated Annual Report, Consolidated and Company’s Financial Statements for the year ended 31 December 2021 of INVL Baltic Farmland (.pdf)