INVL Baltic Farmland (INL1L) Q4 2025 earnings summary

Executive summary

• Owns 100% of 18 subsidiaries with ~3,000 ha of Lithuanian agricultural land, nearly all leased to farmers and agricultural companies.

• Land administration is outsourced to INVL Farmland Management, with a long-term agreement extended to 2035.

• Development is limited by legal restrictions on land ownership; focus is on stable rental income and asset value growth.

Financial highlights

• 2025 revenue: EUR 891k (up from EUR 835k in 2024); net profit: EUR 816k (down from EUR 1,836k in 2024).

• Investment property value rose 2.6% to EUR 23.33m; average value per hectare: EUR 7.57k.

• Consolidated equity at year-end: EUR 20.17m (up from EUR 19.74m in 2024).

• Earnings per share: EUR 0.25 (down from EUR 0.57 in 2024).

• Dividend for 2024: EUR 0.12 per share, paid in 2025.

Outlook and guidance

• 2025 initial forecast: EUR 890k revenue, EUR 460k net profit; actual profit exceeded forecast due to asset revaluation.

• No approved forecasts for 2026 at report issuance; future plans to be announced separately.