2016-02-29 08:50:33 CET

2016-02-29 08:50:33 CET


BIRTINGARSKYLDAR UPPLÝSNINGAR

INVL Baltic Farmland - Notification on material event

Audited results of INVL Baltic Farmland group of 2015 


Vilnius, Lithuania, 2016-02-29 08:49 CET (GLOBE NEWSWIRE) -- Audited
consolidated net profit as well as consolidated net profit attributable to
shareholders of INVL Baltic Farmland amounted to EUR 838 thousand of 2015. 

Additional information:

The board of INVL Baltic Farmland, a company that invests in agricultural land,
has proposed paying EUR 217,000 in dividends for 2015, EUR 0.066 per share. The
company‘s board has submitted the proposal to the INVL Baltic Farmland meeting
of shareholders, scheduled for 25 March. If the general meeting approves the
dividend, it will be 10 percent higher year-on-year. 

“We are guided by our approved dividend policy and have proposed that the
capital surplus be paid out to the shareholders,” INVL Baltic Farmland Board
Chairman Alvydas Banys said. 

INVL Baltic Farmland has also reported its 2016 forecast, projecting annual
lease revenues at EUR 530,000 and a net profit at EUR 300,000. The projections
are based on current land lease contracts as well as the assumption that the
value of land controlled by INVL Baltic Farmland will not change in 2016 and
that there will be no land sale transactions. 

“Demand for farmland for lease in fertile soil areas remains high, so we expect
revenues from lease to increase by 15 percent per hectare on average in 2016,
depending on the fertility of the land,” said Kristina Urboniene, the director
of INVL Farmland Management, which is the administrator of INVL Baltic
Farmland's land. 

She added that, following the prevailing trend to rely on multi-year plans in
the agriculture business, the company is currently seeking to move to long-term
lease contracts that are more beneficial to both parties. As the demand keeps
growing on the market, those who opt for long-term contracts will be entitled
to conservative price indexing on an annual basis, whereas customers opting for
short-term contracts will face faster increases in price. 

In 2015, INVL Baltic Farmland reported an audited net profit of EUR 838,000 on
sales of EUR 460,000, while its net asset value per share rose by 8.4 percent
from EUR 3.02 to EUR 3.27, including the dividend. 

The subsidiary companies of INVL Baltic Farmland, which is listed on the NASDAQ
Vilnius stock exchange, control 3,000 hectares of farmland in Lithuania,
leasing it to agricultural companies and farmers. INVL Baltic Farmland’s equity
stood at EUR 10.57 million at the end of 2015, at EUR 3.21 per share. INVL
Baltic Farmland’s dividend policy is to pay shareholders dividends of not less
than EUR 0.06 per share. 


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