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; agreement extended to 2035, pending shareholder approval.

• 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; consolidated equity reached EUR 20.17m.

• Basic EPS: EUR 0.25 (2024: EUR 0.57); dividend of EUR 0.12 per share approved for 2024.

• Return on Equity (ROE): 4.09%; Return on Assets (ROA): 3.50%; liquidity ratio improved to 1.12.

Outlook and guidance

• 2025 profit exceeded initial forecast due to asset revaluation; excluding non-recurring items, profit would be EUR 463k.

• No approved forecasts for 2026 at report issuance; plans to inform shareholders upon approval.