INVL Baltic Farmland’s equity at the end of June was EUR 14.65 million, or EUR 4.54 per share. Equity per share increased 12.5% from a year earlier, also taking into account the dividends that were paid out.
“The current situation in the cereals market is favourable for domestic farmers. According to the forecasts of Lithuanian analysts, this year’s grain harvest is expected to be some 10-12% larger than last year’s. Good cereal yields and high purchasing prices will enable Lithuanian farmers to achieve good results and us to meet the goals that were set,” said Justė Gumovskienė, the director of INVL Farmland Management, which administers INVL Baltic Farmland’s land.
INVL Baltic Farmland plans revenue of EUR 718,000 this year and a consolidated net profit of EUR 646,000. The operating forecasts are based on the rental agreements that are in place and assume that during this year the value of the company’s land holdings will not change, there will be no further purchases or sales of land, and there will be no changes in provisions for receivables or impact of tenant debts 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.