INVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 339,000 in 9 months of this year and earned net income of EUR 270,000 in the period. Because INVL Baltic Farmland was established in April 2014, its nine-month results for the last year (revenue of EUR 135,000 and profit of EUR 56,000) are not comparable.
During the first three quarters of 2015, INVL Baltic Farmland's revenue was 74% of the amount forecast for the full year (EUR 457,000), while net income was 85% of the 2015 profit forecast (EUR 316,000). The forecast for the year was prepared under the assumption that the value of the company's agricultural land holdings would not change.
Since 1 July 2015, administration of INVL Baltic Farmland's holdings of agricultural land has been entrusted to INVL Farmland Management, a part of Invalda INVL, one of the leading asset management groups in the Baltic countries.
Subsidiaries of INVL Baltic Farmland, which is listed on the NASDAQ Vilnius exchange, manage 3,000 hectares of agricultural land in Lithuania for rental to agriculture companies and farmers. The value of INVL Baltic Farmland's equity capital at end-September 2015 was EUR 10.002 million, or EUR 3.04 per share.
Public joint stock company INVL Baltic Farmland manages shares of companies investing into agricultural land. Invalda LT started investing into agricultural land in 2004 through a subsidiary company Ekotra. Now INVL Baltic Farmland has 100% in 18 companies owning more than 3,000 hectares of agricultural land in Lithuania.
