INVL Baltic Farmland (INL1L) Q3 2024 earnings summary

Executive summary

• Manages 3,000 hectares of agricultural land in Lithuania through 18 subsidiaries, focusing on productive regions.

• Shares listed on Nasdaq Vilnius since 2014; market capitalization reached €20.501 million as of 30 September 2024.

Financial highlights

• Revenue for 9M 2024 was €605k, up from €569k in 9M 2023 and €535k in 9M 2022.

• Net profit for 9M 2024 was €344k, compared to €315k in 9M 2023 and €405k in 9M 2022.

• Book value per share increased to €5.65 as of 30 September 2024, up from €4.95 in 2023.

• Average rental income per hectare rose to €272 in 9M 2024, from €256 in 2023.

• Dividend of €0.12 per share for 2023 was paid in May 2024.

Key financial ratios and metrics

• Dividend yield stood at 1.9% for 9M 2024, down from 2.0% in 2023.

• Share price as of 30 September 2024 was €6.35.

• Share price premium/discount to book value narrowed to 12.4% at 30 September 2024.