Economic Results - Agrární půdní fond s.r.o.

The structure of the clients portfolios of Agrární půdní fond s.r.o.

The total value of client portfolios as of 30 June 2023 was CZK 545,834,527. Compared to 31.3.2023, the total value increased by CZK 92,098,917 (20.30%).

This value is made up of the core products Investment agricultural land IZP, Long-term investment in agricultural land DIZP and Individual portfolio IP. The IP product accounts for the largest share of the total value, at 80.26%. The highest % increase in value over the period under review was reported for the DIZP product, up 22.56%.

The value of the portfolios secured by the contract of future purchase agreement amounts to CZK 216,984,943, which represents 39.65% of the total value of client portfolios. The predominant value of client portfolios is made up of individual portfolios of clients who have been cooperating with APF for a long time on the basis of personal references.

Secured income in the form of advance payments on the future purchase price is paid in accordance with the concluded contracts of sale and purchase agreement (SoSB).

Economic results of Agrární půdní fond s.r.o. in 2021

Administrative fees (APF commission) were reported for 2021 in the total amount of CZK 5,452,572. These are standard commissions from concluded client portfolios and additional commissions received when the returns exceeded the guaranteed return in accordance with the business conditions of APF products.
In 2021, we completed 372 trades with a total value of CZK 182,842,049 and with a total area of 4,429,768 m² (443 ha). The total number of completed trades increased by 49% compared to 2020.
Over the year 2021, APF by itself sold land with a total value of CZK 6,269,193 (17 trades), with an average gross profitability of 29.24%. The gross profit from these transactions amounted to CZK 1,418,431.
In 2021, the owner of APF sold land with a total value of CZK 7,362,242 (21 trades) with an average gross profitability of 31.21%. The gross profit from these transactions amounted to CZK 1,751,290. The funds obtained from sales of land owned by the company’s owner were reinvested into APF in the form of an increase in stock capital to a total of CZK 5,100,000 and in the form of a long-term liability to an associate in the amounts of CZK 5,829,006 (RE Services & Investments s.r.o.) and CZK 1,327,939 (directly the owner of the company as a natural person). The total amount of liabilities to the owner of the company was CZK 7,156,945.
As of 31 December 2021, the credit provided by the banking institution was reduced to a total of CZK 4,197,227.
In August 2021, APF started a subscription for APFD 7.5/25 corporate bonds. The value of the subscribed bonds as of 31 December 2021 was CZK 2,300,000. The funds obtained through the subscription for bonds were used to purchase agricultural land into the ownership of APF.
The total value of APF’s assets as of 31 December 2021 was CZK 27,539,515. This value consisted mainly of tangible fixed assets (63.31%) – agricultural land.

The value of equity: CZK 9,160,957

The annual total net turnover: CZK 7,335,003

The operating result: CZK 5,211,720

Ratio of Equity to Total Assets
Equity ratio 1: 33,26%

Ratio (equity + liabilities to associates) and Total Assets
Equity ratio 2: 59,25%

Debt ratio ((external sources – liabilities to associates – accrued liabilities)/equity): 57,18%

FINANCIAL STATEMENTS APF AUDITOR'S REPORT

Final results as of 31.12.2022

Value of equity: 133.188 thousand CZK

The annual total net turnover: 723.896 thousand CZK

The operating result (EBITDA): 152.983 thousand CZK

Total value of assets netto: 446.667 thousand CZK

FINANCIAL STATEMENTS APF

APF GROUP revenue structure

1) commission for arranging the sale of agricultural land

2) administrative fees for the management of client portfolios

3) fees for the management of funds entrusted to them

4) fees for the conclusion of option contracts

5) proceeds from the sale of agricultural land owned by APF GROUP

6) interest income from savings accounts

7) interest income on bonds purchased

8) rental income from agricultural land owned by APF GROUP

9) income from swap transactions within the APF GROUP

10) income from revaluation of assets within alternative funds