INVL Baltic Farmland

Business and Financial Review • Feb 28, 2019

Key information for 2018

INVL Baltic Farmland, AB was established on 29 April 2014 on the basis of a part of assets split-off from Invalda INVL, one of the leading asset management groups in the Baltic region.

INVL Baltic Farmland manages shares of companies investing into agricultural land. INVL Baltic Farmland has 100% in 18 companies owning more than 3 thousand hectares of agricultural land in Lithuania.

On 30 June 2015 the company has signed an agreement with INVL Farmland Management regarding administration of assets.

Shares of INVL Baltic Farmland are listed on Nasdaq Vilnius stock exchange Secondary list since 4 June 2014.

The land plots which the company owns are in the most productive regions of Lithuania. They're indicated in blue.

Main characteristics of INVL Baltic Farmland shares admitted to trading		Profit (loss), EUR thousand	2016	2017
Shares issued, units	3,291,549	Revenue	531	575
		Revaluation of investment property	1,098	629
Total voting rights granted by the issued shares, units	3,228,510	Profit before tax	1,398	1,044
Nominal value for one share, EUR	0.29	Net profit	1,193	885
Total nominal value, EUR	954,549.21	*Indicator formulas of INVL Baltic Farmland (https://invlbalticfarmland.com/lit/en/investor-relations/reports/indicator-formulas)
ISIN code	LT0000128753			Share price

Key figures	31-12-2016	31-12-2017	31-12-2018
Book value of land, EUR thousand	12,335	12,964	13,922
Cash, EUR thousand	209	199	140
Other assets, EUR thousand	88	196	156
Consolidated equity, EUR thousand	11,343	12,002	12,630
Deferred income tax liabilities, EUR thousand	1,121	1,235	1,387
Other liabilities, EUR thousand	168	122	201
Controlled cultivated cropland area, thousand ha	3	3	3
Average rental income per hectare, EUR	172	179	188
Book value of one share (BV), EUR*	3.51	3.72	3.91
Dividend yield, %*	2.0	1.8	4.3
Profit (loss), EUR thousand	2016	2017	2018
Revenue	531	575	615
Revaluation of investment property	1,098	629	958
Profit before tax	1,398	1,044	1,315
Net profit	1,193	885	1,113

	Premium/ discount vs BV*, %
Historical relation between share price and BV*, %	31 December 2016	(4.8)
	31 March 2017	21.5
	30 June 2017	11.2
	30 September 2017	7.95
	31 December 2017	4.57
	31 March 2018	15.5
	30 June 2018	13.0
	30 September 2018	4.4
	31 December 2018	(0.1)

Votes granted, (%)

Management of INVL Baltic Farmland
The Board (term of office 2018-2022)
Alvydas Banys (Chairman)
Indrė Mišeikytė
Darius Šulnis
CEO
Eglė Surplienė