European agricultural finance platform Lande swung into revenue final yr, as its cost-cutting efforts paid off.
Lande reported a internet revenue of €166,900, up from a €73,1000 loss in 2023.
“This displays a extra scalable enterprise mannequin, positioning the corporate for sustainable development,” the corporate mentioned in a weblog publish on its web site.
“Lande additionally maintained a robust stability sheet, with nearly €600,000 in fairness and solely €80,000 in debt, reflecting low leverage and monetary stability.”
Learn extra: Latvian alts platforms launch new alliance
In the meantime, income rose by 22 per cent year-on-year to €1.96m.
Lande facilitated over €12.57m of loans final yr, together with €7.15m in Latvia. Romania adopted with €3.45m and Lithuania with practically €2m.
Nearly all of loans issued have been backed by land and equipment, representing over 93 per cent of the portfolio.
Learn extra: Lande provides new options to re-opened secondary market
Over 19 per cent of loans issued final yr have already been repaid and default charges stay low at 2.22 per cent, Lande mentioned.
Traders obtained a median return of 11 per cent final yr, with €8.07m repaid in principal and €1.27m in curiosity, in addition to greater than €54,000 in cashback incentives.
“2024 demonstrated the power of Lande’s mannequin: disciplined operations, high-quality collateral, and a rising, engaged investor base,” mentioned the corporate.
“We enter 2025 with a robust basis and a transparent focus – scaling our providing, increasing into new areas, and persevering with to enhance transparency and instruments for each buyers and debtors.”
Learn extra: Lande receives EU crowdfunding licence
