INVL Baltic Farmland - Notification on material event

AB INVL Baltic Farmland unaudited results and factsheet for 3 months of 2017

Vilnius, Lithuania, 2017-05-03 08:28 CEST (GLOBE NEWSWIRE) -- For 3 months of
2017, the unaudited consolidated net profit of the AB INVL Baltic Farmland
group was EUR 82 thousand and the revenue was EUR 134 thousand (for 3 months of
2016 consolidated net profit was EUR 92 thousand, revenue was EUR 129
thousand). 

Additional information:

INVL Baltic Farmland, a company that invests in agricultural land, had revenue
of EUR 134 thousand in the first quarter of this year and earned a net profit
of EUR 82 thousand. Compared with the same period last year, the group’s
revenue increased 3.88 per cent, while its net profit decreased 10.87 per cent.
The latter change was due to the recovery in the year-ago period of some
receivables that had been written off, while there was no such positive effect
this year. 

INVL Baltic Farmland’s equity capital at the end of the first quarter of 2017
was EUR 11.2 million. Equity capital per share was EUR 3.47. 

“The start of the year was favourable – demand for farmland in the market
remains strong. Meanwhile, we continue seeking to effectively manage existing
land holdings and shifting to long-term land rent agreements,” said Kristina
Urbonienė, the director of INVL Farmland Management, which is the administrator
of INVL Baltic Farmland’s land. 

Revenue in the first quarter was 23.3 per cent of the company’s revenue
forecast for this year (EUR 575 thousand), while net profit was 23.4 per cent
of the forecast annual consolidated net profit (EUR 350 thousand). 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. 


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

Attachments:

Factsheet_Farmland_2017 3mnth.pdf