Elana Agrocredit’s new leases increased 165.2% YoY in Apr’22 (POSITIVE)

16.05.2022 Source: Elana Agrocredit; FFBH

Elana Agrocredit reported 15 new leases in April (BGN 905.1k*), which represents a 165.2% YoY increase. The company financed the purchase of 472 daa (+26.3% YoY) of agricultural land during the month at BGN 1 919 per daa (+109.9% YoY). YTD average price per daa was BGN 1 862, which represents 65.4% annual increase. Short-term loans also advanced and reached BGN 18.1m (+1.0 MoM). YtD leases amounted to BGN 3.5m, compared to BGN 1.3 in the first four monts of 2021. The size of the financed land also jumped to 1 899 daa YtD (+71.0% YoY). *20% of the price is down payment by the lessees.