Advance Terrafund bought 1 680 daa in August (NEUTRAL)

16.09.2021 Source: Advance Terrafund REIT; FFBH

Advance Terrafund REIT purchased 1 680 daa new land in Aug’21 at an average price of BGN 1 238/daa (-3.3% MoM). The fund sold 717 daa during the month at BGN 1 538/daa (-7.8% MoM). The company has also finalised the sale of 1 807 daa as part of a lease contract from 2016 at BGN 1 420/daa. As a result, the land portfolio shrank to 207 221 daa (-0.4% MoM). The expected revenue for the 2020-2021 agricultural year is BGN 6 851.6k (+3.8% YoY) with 48.7% of it already collected. Currently, the fund has rented out 169 512 daa, or 83.9% of its rentable portfolio at an average price of BGN 40.42/daa (+1.9% YoY).