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Published: 2022-02-28 17:39:30 CET
Trigon Property Development
Quarterly report

Unaudited financial report for the fourth quarter and 12 months 2021

The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2021, AS Trigon Property Development owned one development project with an area of 14.29 hectares in the City of Pärnu, Estonia. An industrial and logistics park is planned 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.

In the third quarter of 2021 a 2.01-hectare property at the price of 604 080 (VAT not included) euros was sold.


Condensed statement of financial position as of 31 December 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 2021 of AS Trigon Property Development is 272,142 euros and the earnings per share is 0.06049 EUR.


As of 31 December 2021 the assets of AS Trigon Property Development were 2,479,935 euros. The equity of the company was 2,363,079 euros, corresponding to 95.29 % of the total balance sheet.


Condensed statement of financial position

Receivables and prepayments166,825789
Total current assets2,479,935147,679
Investment property02,350,000
Total non-current assets02,350,000
TOTAL ASSETS2,479,9352,497,679
Payables and prepayments116,8566,325
Total current liabilities116,8566,325
Total liabilities116,8566,325
Share capital at book value2,299,0202,299,020
Share premium226,056226,056
Statutory reserve capital287,542287,542
Retained earnings /loss1,399,575-321,264
Total equity2,363,0792,491,354


Condensed statement of comprehensive income

EUR12 M 202112 M 2020
Gain on sales1,633,1200
Costs of goods sold-1,169,0800
Gain on sales of investment property04,405
Gross profit464,0404,405
Administrative and general expenses-92,014-20,576
Expenses related to investment property0-10,544
Changes in fair value of investment property0374,594
Other operating income1000
Operating profit372,126347,879
Net financial income12014
Profit before income tax372,246347,893
Income tax expense-100,1040


Rando Tomingas

Member of the Management Board

+372 667 9200



2021 IV Q interim ENG.pdf