Audited results of INVL Baltic Farmland group of 2025

Core Viewpoint - INVL Baltic Farmland exceeded its initial profit forecast for 2025, achieving a net profit of EUR 816 thousand against a forecast of EUR 460 thousand, despite a decrease in net profit compared to the previous year [2][4][9] Financial Performance - The audited consolidated net profit for INVL Baltic Farmland in 2025 was EUR 816 thousand, while revenue reached EUR 891 thousand, marking a 6.7% increase in revenue from EUR 835 thousand in 2024, but a 55.6% decrease in net profit from EUR 1,836 thousand in 2024 [1][4] - The company’s initial forecast for 2025 was revenue of EUR 890 thousand and net profit of EUR 460 thousand, indicating that the actual results exceeded the profit forecast by 77% [2][4][8] Asset Valuation - An independent valuation indicated that the value of agricultural land holdings increased by 2.6% to EUR 23.326 million, averaging EUR 7.57 thousand per hectare, compared to a 9.5% increase in 2024 [2][7] - The increase in the corporate income tax rate in Lithuania from 16% to 17% starting in 2026 resulted in a recalculated deferred income tax liability, reducing net profit by EUR 188 thousand [2][8] Operational Insights - The year was characterized by stable growth in rental income, although the increase in asset value was modest compared to 2024, with satisfactory grain harvests but pessimistic price trends for 2025 due to climate challenges [5] - Farmers showed reluctance to invest in purchasing their own plots, leading to high demand for leased land [6] Equity and Share Information - At the end of December 2025, INVL Baltic Farmland's equity totaled EUR 20.172 million, equating to EUR 6.25 per share [9]