INVL Baltic Farmland (INL1L) Q4 2024 earnings summary

Executive summary

• Revenue increased to EUR 835 thousand in 2024, up 5.2% year-over-year, with net profit at EUR 1,836 thousand, down 30.5% from 2023.

• Investment property value rose by 9.5% to EUR 22.736 million, averaging EUR 7.38 thousand per hectare.

• Dividend of EUR 0.12 per share was paid for 2023, with a dividend yield of 1.9%.

• The company exceeded its initial 2024 profit forecast due to favorable asset revaluation, despite higher administration fees and tax rate changes.

• No significant investments or acquisitions were made during the year.

Financial highlights

• Revenue: EUR 835 thousand in 2024 (2023: EUR 794 thousand).

• Net profit: EUR 1,836 thousand in 2024 (2023: EUR 2,643 thousand).

• Operating profit margin: 284.31% in 2024 (2023: 389.67%).

• Earnings per share: EUR 0.57 in 2024 (2023: EUR 0.82).

• Investment property revaluation gain: EUR 1,980 thousand in 2024.

Outlook and guidance

• 2024 profit exceeded forecast due to asset revaluation; adjusted profit (excluding revaluation and tax changes) was EUR 436 thousand.

• 2025 forecasts not yet approved; company will announce plans separately.

• Market trends remain favorable for land value and rental income.