Published: 2021-02-26 10:48:07 CET
Trigon Property Development
Quarterly report

Unaudited financial report for the fourth quarter and 12 months 2020

The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2020, AS Trigon Property Development owned one development project with an area of 21 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 second quarter of 2020 a 0.7-hectare property at the price of 65 000 euros was sold.

Condensed statement of financial position as of 31 December 2020 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 2020 of AS Trigon Property Development is 347,893 euros and the earnings per share  is 0.07733 EUR.

As of 31 December 2020 the assets of AS Trigon Property Development were 2,497,679 euros. The equity of the company was 2,491,354 euros, corresponding to 99.75 % of the total balance sheet.

Condensed statement of financial position

EUR31.12.202031.12.2019
Cash146,890150,007
Receivables and prepayments7897,381
Total current assets147,679157,388
Investment property2,350,0002,036,000
Total non-current assets2,350,0002,036,000
TOTAL ASSETS2,497,6792,193,388
Payables and prepayments6,32549,927
Total current liabilities6,32549,927
Total liabilities6,32549,927
Share capital at book value2,299,0202,299,020
Share premium226,056226,056
Statutory reserve capital287,542287,542
Accumulated loss-321,264-699,157
Total equity2,491,3542,143,461
TOTAL LIABILITIES AND EQUITY2,497,6792,193,388

Condensed statement of comprehensive income

EUR12 M 202012 M 2019
Gain on sales of investment4,4060
Expenses related to investment property-10,544-11,621
Gross loss- 6,139-11,621
Administrative and general expenses-20,576-23,501
Changes in fair value of investment property374,594389,526
Operating profit347,879354,404
Net financial income148
NET PROFIT FOR THE PERIOD347,893354,412
TOTAL COMPREHENSIVE PROFIT347,893354,412

Rando Tomingas
Member of the Management Board 
+372 667 9200



Attachment



2020 IV Q interim ENG.pdf