European agricultural finance platform Lande swung into profit last year, as its cost-cutting efforts paid off.
Lande reported a net profit of €166,900, up from a €73,1000 loss in 2023.
“This reflects a more scalable business model, positioning the company for sustainable growth,” the company said in a blog post on its website.
“Lande also maintained a strong balance sheet, with almost €600,000 in equity and only €80,000 in debt, reflecting low leverage and financial stability.”
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Meanwhile, revenue rose by 22 per cent year-on-year to €1.96m.
Lande facilitated over €12.57m of loans last year, including €7.15m in Latvia. Romania followed with €3.45m and Lithuania with nearly €2m.
The majority of loans issued were backed by land and machinery, representing over 93 per cent of the portfolio.
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Over 19 per cent of loans issued last year have already been repaid and default rates remain low at 2.22 per cent, Lande said.
Investors received an average return of 11 per cent last year, with €8.07m repaid in principal and €1.27m in interest, as well as more than €54,000 in cashback incentives.
“2024 demonstrated the strength of Lande’s model: disciplined operations, high-quality collateral, and a growing, engaged investor base,” said the company.
“We enter 2025 with a strong foundation and a clear focus – scaling our offering, expanding into new regions, and continuing to improve transparency and tools for both investors and borrowers.”
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