Agro Finance
4003 Plovdiv
5 Dunav Blvd.
Tel:.+359 32 204 939
INFORMATION BULLETIN
MARCH 2021
Investment portfolio
As of March 31st, 2021 the investment portfolio of Agro Finance REIT /with revoked license to operate as a company with a special investment purpose for securitization of real estate according to Decision № 166-REITfrom 01.04.2021 of the Financial Supervision Commission/ includes 13 848 hectares of agricultural land. The funds invested by the Company amount to BGN 43.985 million (EUR 22.489 million), at an average acquisition price (all costs included) of BGN 3176.2 (EUR 1623.97) per hectare.
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Investment portfolio structure as of March 31st, 2021
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 March 31st, 2021 the portfolio consists of 96.89 % 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 3.12 % in lower categories.
Agricultural land portfolio structure by categories
Category | Acquired land | % of the total |
(hectares) | land acquired | |
І-II | 633 | 4.57% |
III-V | 11 940 | 86.22% |
VІ | 844 | 6.09% |
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VІІ-X | 431 | 3.12% |
Total | 13 848 | 100.00% |
As of March 31st, 2021 88.35 % 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 | 5736 | 41.41 |
North Central region | 4579 | 33.06 |
Northeastern region | 1920 | 13.88 |
Southern region | 1613 | 11.65 |
Total | 13 848 | 100.00 |
The agricultural land is mostly concentrated in Montana, Pleven and Vratsa districts where Agro Finance REIT /with revoked license to operate as a company with a special investment
purpose for securitization of real estate according to Decision | № 166-REIT from 01.04.2021 |
of the Financial Supervision Commission/ owns in total | 8 511 hectares (61 % of the |
Company's investment portfolio). |
Map of the agricultural land portfolio by districts as of March 31st, 2021
Rents Information
As of March 31st, 2021, nearly 13.3 thousand hectares are rented for 2020/2021 agricultural season (96 % of the acquired land). The average contracted rental payment for 2020/2021 agricultural season is EUR 267 per hectare.
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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 | 93% |
2020/2021 | 13 300 | 96% | 267 | 78% |
* As of the end of the corresponding agricultural season
Stock Exchange information about Agro Finance REIT /with revoked license to operate as a company with a special investment purpose for securitization of real estate according to Decision № 166-REITfrom 01.04.2021 of the Financial Supervision Commission/ for March
31st, 2021
Agro Finance (AGF) | Share price |
BGN* | |
Turnover (number of shares) | 0 |
Market capitalization (million BGN) | 103 103 |
Market capitalization (million EUR) | 52 716 |
Net asset value per share (31.12.2020) | BGN 2.06 (EUR 1.05) |
EUR 1 = BGN 1.95583
* The market capitalization is calculated on the basis of last close price
Plovdiv | Desislava Stoyanova |
April 13th, 2021 | Director of Investor Relations |
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Disclaimer
Agro Finance ADSITS published this content on 14 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2021 06:20:04 UTC.