INVL Baltic Farmland

What INVL Baltic Farmland does

INVL Baltic Farmland (AB INVL Baltic Farmland, company code 303299781) is a publicly listed, single-purpose investment vehicle incorporated in Lithuania in April 2014 as a spin-off from Invalda LT (now Invalda INVL) and listed on Nasdaq Vilnius in June 2014. The company invests in agricultural land in Lithuania and generates revenue by leasing approximately 3,000 hectares of farmland to individual farmers (Ūkininkai) and agricultural companies (Žemės ūkio bendrovės) through 17 wholly-owned subsidiaries. There is no technology product; the business model is a pure real-asset rent collection vehicle, with the company's investability anchored in Lithuanian law that restricts agricultural land purchases to 500 hectares per person — a regulatory cap that creates structural scarcity around incumbent portfolios such as INVL Baltic Farmland's.

The company monetizes its land holdings through three streams: (1) recurring agricultural land rental income, which totaled EUR 891 thousand in audited 2025 revenue (up 6.7% YoY) and is guided at EUR 940 thousand for 2026; (2) opportunistic land sales when parcels are divested, treated as one-time rather than systematic; and (3) modest land administration fees. Land administration itself is outsourced to a related entity, INVL Farmland Management, under a performance-linked fee structure (7% of rental income plus 0.5% of capitalization, with a success fee if returns exceed 5% plus inflation), which keeps the parent's overhead minimal. Independent land valuations are performed annually by Matininkai, with the portfolio marked at EUR 23.326 million in 2025 (EUR 7,570/hectare), and equity per share at EUR 6.29 as of Q1 2026 (+4.2% YoY).

The company is governed as a public Lithuanian joint-stock company with ~3.225 million shares outstanding, led since 2015 by CEO Eglė Surplienė (a former Securities Commission member and financial advisory executive who replaced Darius Šulnis). It pays an annual dividend — EUR 0.12 per share for 2025 (total payout EUR 387 thousand) — distributed via Artea Bankas AB as custodian, audited by BDO auditas ir apskaita for the 2024-2026 cycle. The shareholder base and tenant base are not publicly disclosed at an individual level, and operations are entirely domestic within Lithuania.

Name

INVL Baltic Farmland

Legal name

AB INVL Baltic Farmland

Website

https://invlbalticfarmland.com

Company type

Public

Founded year

2014

Operating status

Operating

Short description

INVL Baltic Farmland is a publicly listed Lithuanian investment vehicle (Nasdaq Vilnius) that owns and leases approximately 3,000 hectares of agricultural land to farmers and agricultural companies through 17 subsidiaries, generating recurring rental income supplemented by opportunistic land sales.

Ownership category

akta.pro rank

Product category

Agricultural Land Investment

NAICS

Farm Management Services (115116), Crop Production (111), Other Crop Farming (1119)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro industry

PRIMARYFSAAAKAI

Natural Resources — Farmland & Agriculture

Financial & Insurance/Asset & Wealth Management/Asset Management — Real Assets (Real Estate, Infrastructure, Natural Resources)

SECONDARYBPAJADAA

Farmland Brokerage (Row Crops, Specialty Crops)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Land & Rural Real Estate Brokerage

SECONDARYAFACAJAN

Capital Projects & Farm Expansion Advisory (Feasibility, Site Planning, ROI)

Agriculture & Food Production/Agricultural Services (Custom Farming, Agronomy, Veterinary)/Farm Management & Operational Advisory Services

SECONDARYBPAJAKAD

Land & Rural Property Appraisal

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Valuation & Appraisal Services

Keywords

• Agricultural land investment
• Farmland leasing services
• Agricultural property management
• Farmland investment vehicle
• Land rental income

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Others, Personnel

Revenue model

1. Agricultural Land Rental Income: The company generates recurring rental income by leasing approximately 3,000 hectares of agricultural land in Lithuania to farmers and agricultural companies. Rental income is the primary revenue stream, with revenues of EUR 891 thousand in 2025 and EUR 940 thousand guided for 2026.
2. Land Sales: Occasional land sales contribute to revenue when the company divests parcels from its portfolio. One significant sale of over 17 hectares occurred in March 2022, generating additional profit. Land sales are opportunistic rather than a systematic revenue stream.
3. Land Administration Fees: The company earns administration fees related to managing tenant relationships and land administration services.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

INVL Baltic Farmland is a publicly listed Lithuanian investment company that owns approximately 3,000 hectares of agricultural land in Lithuania through 17 wholly-owned subsidiaries and leases the plots to farmers and agricultural companies. The company generates recurring rental income from these leases while seeking long-term capital appreciation from agricultural land price growth. Land administration is performed by a related-party manager under a fee-based agreement.

Product overview

INVL Baltic Farmland operates as a single-purpose investment company focused on agricultural land in Lithuania. The company manages approximately 3,000 hectares of agricultural land through its subsidiaries, which is leased to farmers and agricultural companies. The business model centers on generating rental income exceeding inflation and profiting from agricultural land price appreciation. The company does not offer multiple distinct product lines; its sole offering is agricultural land investment and management services. The land administration is handled by INVL Farmland Management, which administers the portfolio for a fee of 7% of annual rental income plus 0.5% of capitalization, with a success fee if returns exceed 5% plus inflation.

Differentiator

Problem solved

Functional benefit

Products and services

• Agricultural Land Investment INVL Baltic Farmland invests in agricultural land in Lithuania and leases it to farmers and agricultural companies, generating rental income that targets returns exceeding inflation while benefiting from agricultural land price appreciation. The portfolio spans approximately 3,000 hectares held through 17 wholly-owned subsidiaries.
• Land Portfolio Management Professional management of approximately 3,000 hectares of agricultural land in Lithuania, including land administration, tenant relationship management, and property valuation services for the company and its lessees. The administration function is performed by INVL Farmland Management under a management agreement.

Quantifiable outcome

• Agricultural land portfolio value increased 2.6% to EUR 23.326 million in 2025
• +2 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• Artea Bankas ABcoreChannel Partner/ Reseller/ Distributor · 29 May 2026Artea Bankas AB is the authorized custodian managing dividend distribution for shareholders whose securities accounts are maintained under the company's authority. The bank handles dividend payments to registered shareholders.
• BDO auditas ir apskaitacoreImplementation/ SI/ Consulting Partner · 21 October 2024BDO auditas ir apskaita serves as the company's auditor for 2024-2026, replacing PricewaterhouseCoopers after the required 10-year rotation period under Lithuanian law.
• INVL Farmland ManagementcoreImplementation/ SI/ Consulting Partner · 1 July 2015INVL Farmland Management administers INVL Baltic Farmland's land portfolio under a management agreement. The company receives 7% of annual rental income plus 0.5% of capitalization as compensation, with a success fee if returns exceed 5% plus inflation.
• MatininkaicoreStrategic or Co-development PartnerMatininkai is an independent valuation corporation that performs annual valuations of INVL Baltic Farmland's agricultural land portfolio, determining fair market value for financial reporting and investor information purposes.

Scale indicators8 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Gladstone Land Corporation: US-listed farmland REIT that owns and leases agricultural land to farmers, generating rental income plus capital appreciation. Highly comparable business model to INVL Baltic Farmland, though at much larger scale and with US geographic exposure.
• Argo Properties NV: Amsterdam-listed European farmland investor focused on agricultural land across Europe, primarily Eastern Europe and the Balkans. Closest European-listed comparable to INVL Baltic Farmland given the focus on EU farmland ownership and rental yields.
• AgroGeneration: European farmland operator with significant acreage in Ukraine and other Eastern European countries. While more operationally integrated than INVL Baltic Farmland, it shares exposure to Eastern European agricultural land economics and tenant dynamics.
• Farmland Partners Inc. NYSE-listed REIT that acquires and leases farmland across the US. Shares the same core thesis of inflation-protected rental yields plus long-term land value appreciation, directly comparable to INVL Baltic Farmland's investment and leasing approach.
• Cibus Capital (Cibus Fund): European-focused agricultural investment manager running the Cibus Fund, which invests in sustainable farmland and agribusiness across Europe. Operates in the same niche of institutional European farmland investment as INVL Baltic Farmland.

Regional players

• Sveaskog: Swedish state-owned forestry and land company that owns and leases large tracts of forest and agricultural land in the Nordic/Baltic region. Comparable as a Northern European land-owning entity with similar regulatory-driven scarcity dynamics, though focused on forestry rather than row-crop agriculture.

Broad incumbents

• Westchester Group Investment Management: US-based investment manager focused on global farmland and agricultural real assets. Comparable investment approach to INVL Baltic Farmland with broader geographic mandate across the Americas, Australia, and Europe.
• Hancock Agricultural Investment Group: One of the largest US-focused institutional farmland investment managers, owned by Manulife. Operates a much larger and more diversified farmland portfolio than INVL Baltic Farmland but follows the same fundamental model of acquiring and leasing agricultural land.
• Nuveen Global Farmland Fund: TIAA/Nuveen's institutional global farmland strategy invests in US, Australian, and Brazilian farmland. Much larger scale than INVL Baltic Farmland but pursues the same thesis of inflation-protected income from agricultural real assets.

Others

• Invalda INVL: Parent holding company that spun off INVL Baltic Farmland in 2014; continues to provide shared services, governance, and the INVL Farmland Management platform. Related-party ecosystem participant rather than direct competitor, but a critical commercial counterparty for INVL Baltic Farmland's operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INVL Baltic Farmland