Published: 2021-11-30 18:38:58 CET
Trigon Property Development
Quarterly report

Correction: Unaudited financial report for the third quarter and 9 months of 2021

The main business activity of Trigon Property Development AS is real estate development. As at 30.09.2021, 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 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.

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 30 September 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 9 months of 2021 of AS Trigon Property Development is 298,307 euros and the earnings per share is 0.06630 EUR.

As of 30 September 2021 the assets of AS Trigon Property Development were 2,890,408 euros. The equity of the company was 2,389,244 euros, corresponding to 82.66 % of the total balance sheet.

 

Condensed statement of financial position

EUR30.09.202131.12.2020
Cash1,488,952146,890
Receivables and prepayments43,189789
Total current assets1,532,141147,679
Investment property1,358,2672,350,000
Total non-current assets1,358,2672,350,000
TOTAL ASSETS2,890,4082,497,679
Payables and prepayments501,1646,325
Total current liabilities501,1646,325
Total liabilities501,1646,325
Share capital at book value2,299,0202,299,020
Share premium226,056226,056
Statutory reserve capital287,542287,542
Retained earnings /loss1,425,740

-321,264
Total equity2,389,2442,491,354
TOTAL LIABILITIES AND EQUITY2,890,4082,497,679


Condensed statement of comprehensive income

EUR9 M 20219 M 2020
Gain on sales of investment property464,0404,405
Expenses related to investment property-5,983-8,409
Gross profit /loss458,057-4,004
Administrative and general expenses-59,831-11,758
Other operating income1000
Operating profit /loss398,326-15,762
Net financial income8610
Profit /loss before income tax398,411-15,752
Income tax expense-100,1040
NET PROFIT /LOSS FOR THE PERIOD298,307-15,752
TOTAL COMPREHENSIVE PROFIT /LOSS298,307-15,752

 

Rando Tomingas

Member of the Management Board

+372 667 9200

 



Attachment



2021 III Q interim ENG.pdf