INVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 403 000 in the first three quarters of this year and a consolidated net profit of EUR 245 000. Compared with the same period last year, the group’s revenue increased 4.1 per cent, while its net profit decreased 4.7 per cent.
INVL Baltic Farmland’s equity capital at the end of September 2017 was EUR 11.36 million. Equity per share was EUR 3.52.
“We’re currently working on land rent agreements for next year. More and more farmers are choosing long-term agreements, which now account for three-quarters of the overall portfolio,” said Kristina Urbonienė, the director of INVL Farmland Management, which is the administrator of INVL Baltic Farmland’s land.
In terms of results achieved, the company’s nine-month revenue was 70 per cent of the amount forecast for all of this year (EUR 575 000) and its nine-month net profit was 70 per cent of the forecast full-year consolidated net profit (EUR 350 000). The forecasts are based on an assumption that the value of INVL Baltic Farmland’s land holdings will not change during 2017 and no land purchase or sale transactions will be concluded.
INVL Baltic Farmland is listed on the Nasdaq Vilnius exchange. Its subsidiaries manage 3 thousand hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.