Agro Finance REIT
4003 Plovdiv
5 Dunav Blvd.
Tel:.+359 32 204 939
INFORMATION BULLETIN
DECEMBER 2018
Investment portfolio
As of December 31st, 2018 the investment portfolio of Agro Finance REIT includes 13 914 hectares of agricultural land. The funds invested by the Company amount to BGN 44.014 million (EUR 22.504 million), at an average acquisition price (all costs included) of BGN 3163.00 (EUR 1617.37) per hectare.
Investment portfolio structure as of December 31st, 2018
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 December 31st, 2018 the portfolio consists of 96.94 % 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 3.06 % in lower categories.
Agricultural land portfolio structure by categories
Category | Acquired land (hectares) | % of the total land acquired |
І-II | 639 | 4.59% |
III-V | 11 998 | 86.23% |
VІ | 851 | 6.12% |
VІІ-X | 426 | 3.06% |
Total | 13 914 | 100.00% |
As of December 31st, 2018 88.36 % 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 (hectares) | % of the total land acquired |
Northwestern region | 5753 | 41.34 |
North Central region | 4594 | 33.02 |
Northeastern region | 1948 | 14.00 |
Southern region | 1619 | 11.64 |
Total | 13 914 | 100.00 |
The agricultural land is mostly concentrated in Montana, Pleven and Vratsa districts where Agro Finance REIT owns in total 8 509 hectares (61 % of the Company's investment portfolio).
Map of the agricultural land portfolio by districts as of December 31st, 2018
Rents Information
As of December 31st, 2018 nearly 13.1 thousand hectares are rented for the current 2018/2019 agricultural season (93 % of the acquired land). The average contracted rental payment for 2018/2019 agricultural season is EUR 262 per hectare.
Structure by agricultural seasons
Agricultural
Agricultural season | Land rented (hectares) * | % of the total land acquired | Average contracted rental payment per hectare /EUR/ * | % collected 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 | 82 % |
2017/2018 | 13 300 | 96% | 250 | 82% |
2018/2019 | 13 100 | 93% | 262 | 67% |
* As of the end of the corresponding agricultural season
Stock Exchange information about Agro Finance REIT for December 31st, 2018
Agro Finance REIT (6AG) | Share price BGN* |
Turnover (number of shares) | 0 |
Market capitalization (million BGN) | 99.881 |
Market capitalization (million EUR) | 51.068 |
Net asset value per share (30.09.2018) | BGN 1.99 (EUR 1.02) |
EUR 1 = BGN 1.95583
* The market capitalization is calculated on the basis of last close price
Plovdiv
January 15th, 2018
Desislava Stoyanova Director of Investor Relations
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Disclaimer
Agro Finance ADSITS published this content on 16 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 January 2019 14:43:02 UTC