Published: 2021-08-31 09:32:04 CEST
Trigon Property Development
Half Year financial report

Unaudited financial report for the second quarter and 6 months of 2021

The main business activity of Trigon Property Development AS is real estate development. As at 30.06.2021, AS Trigon Property Development owned one development project with an area of 16.3 hectares in the City of Pärnu, Estonia. An industrial and logistics park is planned to be developed on this area. The Company’s objective is to find companies willing to bring their business activities (industry, logistics) to the development project area of AS Trigon Property Development in Pärnu, which would add value to the land plots owned by the Company.

 

In the first quarter of 2021 a 3.43-hectare property at the price of 824 040 (VAT not included) euros was sold.

In the second quarter of 2021 a 0.89-hectare property at the price of 205 000 (VAT not included) euros was sold.

 

Condensed statement of financial position as of 30 June 2021 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

 

According to the condensed statement of comprehensive income the net profit for first 6 months of 2021 of AS Trigon Property Development is 120,676 euros and the earnings per share is 0.02689 EUR.

 

As of 30 June 2021 the assets of AS Trigon Property Development were 2,652,286 euros. The equity of the company was 2,612,330 euros, corresponding to 98.49 % of the total balance sheet.

 

Condensed statement of financial position

EUR30.06.202131.12.2020
Cash1,163,792146,890
Receivables and prepayments4,847789
Total current assets1,168,639147,679
Investment property1,483,6472,350,000
Total non-current assets1,483,6472,350,000
TOTAL ASSETS2,652,2862,497,679
Payables and prepayments39,9566,325
Total current liabilities39,9566,325
Total liabilities39,9566,325
Share capital at book value2,299,0202,299,020
Share premium226,056226,056
Statutory reserve capital287,542287,542
Accumulated loss-200,288-321,264
Total equity2,612,3302,491,354
TOTAL LIABILITIES AND EQUITY2,652,2862,497,679

 

Condensed statement of comprehensive income

EUR6 M 20216 M 2020
Gain on sales of investment property160,5404,405
Expenses related to investment property-4,001-6,335
Gross profit156,5391,930
Administrative and general expenses-35,707-8,646
Other operating income1000
Operating profit /loss120,932-16,576
Net financial income447
NET PROFIT /LOSS FOR THE PERIOD120,976-10,569
TOTAL COMPREHENSIVE PROFIT /LOSS120,976-10,569


 

Rando Tomingas

Member of the Management Board

+372 667 9200

 

Attachment



2021 II Q interim ENG.pdf