INVL Baltic Farmland (INL1L) Q2 2025 earnings summary

Executive summary

• Focuses on investment in Lithuanian agricultural land, with 3,000 hectares owned and nearly all rented to farmers and agricultural companies.

• Revenue and net profit for the first half of 2025 reached €427k and €244k, respectively, representing 48% and 53% of full-year forecasts.

• Dividend of €0.12 per share for 2024 was paid in May 2025.

• No acquisitions or disposals of land during the reporting period; business operated as usual.

Financial highlights

• Revenue for H1 2025: €427k, up from €402k in H1 2024.

• Net profit for H1 2025: €244k, up from €226k in H1 2024.

• Investment property value as of 30 June 2025: €22.74m, up from €20.76m a year earlier.

• Consolidated equity at 30 June 2025: €19.6m, up from €18.1m at 30 June 2024.

• Basic and diluted EPS for H1 2025: €0.08 (H1 2024: €0.07).

Outlook and guidance

• Full-year 2025 revenue forecast: €890k; net profit forecast: €460k.

• H1 2025 revenue and net profit achieved 48% and 53% of annual forecasts, respectively.

• No changes expected in principal risks or uncertainties for the remainder of 2025.