AGRO FINANCE REIT Agro Finance
4003 Plovdiv
5 Dunav Blvd.
Tel:.+359 32 204 939
INFORMATION BULLETIN
MAY 2022
Investment portfolio
As of May 31st, 2022 the investment portfolio of Agro Finance AD includes 13 792 hectares of agricultural land. The funds invested by the Company amount to BGN 43.832 million (EUR 22.411 million), at an average acquisition price (all costs included) of BGN 3178.2 (EUR 1624.99) per hectare.
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Investment portfolio structure as of May 31st 2022
The Company maintains permanent structure of its portfolio and adheres to its policy of investing in high-quality land in regions with well-developed renting relations.
As of May 31st 2022 the portfolio consists of 96.87 % agricultural land, classified in categories from I to VI (10 categories in total, category I is of highest quality), which are Company's investment priority, and 3.13 % in lower categories.
Agricultural land portfolio structure by categories
Category | Acquired land | % of the total |
(hectares) | land acquired | |
І-II | 633 | 4.59% |
III-V | 11 887 | 86.19% |
VІ | 840 | 6.09% |
VІІ-X | 432 | 3.13% |
Total | 13 792 | 100.00% |
As of May 31st 2022 88.39 % of the agricultural land acquired is in three of the six regions of the country - Northwestern, North Central and Northeastern regions. The land of these regions is of high quality and has a strong potential for further development of agricultural activities.
Agricultural land portfolio structure by regions
Region | Acquired land | % of the total |
(hectares) | land acquired | |
Northwestern region | 5694 | 41.29 |
North Central region | 4577 | 33.19 |
Northeastern region | 1919 | 13.91 |
Southern region | 1602 | 11.61 |
Total | 13 792 | 100.00 |
The agricultural land is mostly concentrated in Montana, Pleven and Vratsa districts where Agro Finance AD owns in total 8 511 hectares (61 % of the Company's investment portfolio).
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Map of the agricultural land portfolio by districts as of May 31st 2022
Rents Information
As of May 31st 2022, nearly 13.5 thousand hectares are rented for 2021/2022 agricultural season (98 % of the acquired land). The average contracted rental payment for 2021/2022 agricultural season is EUR 308 per hectare.
Structure by agricultural seasons
Average contracted | ||||
Agricultural | Land rented | % of the total land | rental payment per | % collected |
season | (hectares) * | acquired | hectare /EUR/ * | payments |
2008/2009 | 8 600 | 69 % | 92 | 98 % |
2009/2010 | 11 500 | 88 % | 104 | 98 % |
2010/2011 | 12 200 | 93 % | 117 | 99 % |
2011/2012 | 13 600 | 96 % | 138 | 98 % |
2012/2013 | 13 900 | 99 % | 167 | 93 % |
2013/2014 | 13 600 | 96 % | 199 | 99 % |
2014/2015 | 13 800 | 98 % | 247 | ~100% |
2015/2016 | 13 500 | 96% | 247 | ~100% |
2016/2017 | 13 600 | 96% | 248 | ~100% |
2017/2018 | 13 300 | 96% | 250 | 97% |
2018/2019 | 13 300 | 96% | 256 | 96% |
2019/2020 | 13 100 | 94% | 273 | ~100% |
2020/2021 | 13 300 | 96% | 367 | 97% |
2021/2022 | 13 500 | 98% | 308 | 80% |
* As of the end of the corresponding agricultural season
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Stock Exchange information about Agro Finance AD for May 2022
Agro Finance (AGF) | Share price |
BGN* | |
Beginning of month (open) share price (BGN) | 3.700 |
End of month (close) share price (BGN) | 3.800 |
Turnover (number of shares) | 300 |
Average price | 3.800 |
Market capitalization (million BGN) | 122 435 |
Market capitalization (million EUR) | 62 600 |
Net asset value per share (31.03.2022) | BGN 2.19 (EUR 1.12) |
EUR 1 = BGN 1.95583
* The market capitalization is calculated on the basis of last close price
Plovdiv | Desislava Stoyanova |
June 15th, 2022 | Director of Investor Relations |
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Disclaimer
Agro Finance ADSITS published this content on 15 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2022 12:22:04 UTC.
