INVL Baltic Farmland - Notification on material event

AB INVL Baltic Farmland preliminary operating results and factsheet for 12 months of 2015

Vilnius, Lithuania, 2016-02-02 08:41 CET (GLOBE NEWSWIRE) -- For 12 months of
2015, the unaudited consolidated net profit of the AB INVL Baltic Farmland
group and the part of profit attributable to the shareholders of AB INVL Baltic
Farmland was EUR 0.8 million. 

Additional information:

INVL Baltic Farmland, a company that invests in agricultural land, had revenue
of EUR 460,000 in 2015 and earned unaudited net income of EUR 838,000 for the
year. The company began operations in April 2014, therefore the results are not
comparable. 

The revenue forecast for 2015 was EUR 457,000, while the forecast for net
income was EUR 316,000. Profit was forecast under the assumption that the value
of agricultural land holdings in the balance sheet would not change, but a
valuation conducted by the company Matininkai showed that it had increased by
6.4% to EUR 11.237 million, or EUR 3,750 per hectare. Excluding the effects of
the property revaluation and related deferred profit tax and management fees,
INVL Baltic Farmland’s profit would have been EUR 327,000. 

“Given crop farmers’ good results after the record grain harvest and
restrictions on purchases of agricultural land, demand for renting such land
remains strong. Last year we improved collaboration with the farmers that rent
our land and we’re gradually shifting to long-term rent agreements,” said
Kristina Urbonienė, the director of INVL Farmland Management, which is the
administrator of INVL Baltic Farmland’s land. 

She said moderate growth of income is expected in 2016.

According to Eglė Surplienė, the CEO of INVL Baltic Farmland, a proposal on
dividends will be presented to shareholders after the annual results are
audited. INVL Baltic Farmland’s dividend policy stipulates that dividend
payments to shareholders should be no less than EUR 0.06 per share. 

INVL Baltic Farmland is listed on the NASDAQ Vilnius exchange. Its subsidiaries
manage 3,000 hectares of agricultural land in Lithuania which is rented out to
agriculture companies and farmers. INVL Baltic Farmland's equity capital at the
end of 2015 was EUR 10.57 million, or EUR 3.21 per share. 


         Person authorised to provide additional information:
         CEO Eglė Surplienė
         E-mail: egle.surpliene@invaldalt.com

Attachments:

Factsheet.pdf