INVL Baltic Farmland (INL1L) Q1 2025 earnings summary

Executive summary

• Manages 3,000 hectares of productive Lithuanian farmland via 18 subsidiaries, focusing on rental income and land value growth.

• Shares listed on Nasdaq Vilnius; market capitalization reached EUR 20.178 million as of 31 March 2025.

• Board and management have extensive experience in Baltic asset management and finance.

Financial highlights

• Book value of land increased to EUR 22.736 million as of 31 March 2025, up from EUR 20.756 million a year earlier.

• Consolidated equity rose to EUR 19.867 million, compared to EUR 18.407 million on 31 March 2024.

• Average rental income per hectare grew to EUR 288, up from EUR 270 year-over-year.

• Book value per share reached EUR 6.15, up from EUR 5.70 year-over-year.

• Dividend of EUR 0.12 per share approved for 2024, paid from 14 May 2025.

Outlook and guidance

• Basic Property Administration Agreement extended through 2025, supporting stable income and land value growth.

• Dividend policy targets EUR 0.10 per share, with recent payouts exceeding this level.