AB INVL Baltic Farmland unaudited Interim information for 9 months of 2024For 9 months of 2024, the unaudited consolidated net profit of the AB INVL Baltic Farmland was EUR 344 thousand and the revenue was EUR 605 thousand (for 9 months of 2023 consolidated net profit was EUR 315 thousand and the revenue was EUR 569 thousand). Additional information: INVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 605,000 in the first nine months of 2024, which is 6.3% more than in the same period last year. The company earned a net profit of EUR 344,000 in January-September this year, or 9.2% more than in the first nine months of 2023. INVL Baltic Farmland’s equity at the end of September 2024 was EUR 18.25 million, or EUR 5.65 per share. Compared to a year earlier and taking into account the impact of dividends, equity per share grew 16.6%. “The agriculture sector has faced challenges this year related to climate conditions and purchasing prices for grain, but the situation is now under control and the dominant mood is rather optimistic. We see the situation in agriculture as stable and continue working to ensure the effective management of assets,” says Justė Gumovskienė, the director of INVL Farmland Management, which administers INVL Baltic Farmland’s land. Last year INVL Baltic Farmland had consolidated revenue of EUR 794,000 and a net profit of EUR 2.643 million – 10% more and 34% more, respectively, than in 2022. 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’s 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. 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. The person authorized to provide additional information:
Director Egle Surpliene
E-mail: egle.surpliene@invaldainvl.com
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