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Published: 2022-05-31 09:16:59 CEST
Trigon Property Development
Quarterly report

Unaudited financial report for the first quarter of 2022

The main business activity of Trigon Property Development AS is real estate development. As at 31.03.2022, AS Trigon Property Development owned one development project with an area of 13.8 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. As the main purpose of the company is to sell existing land plots, investment property was recognized as inventories.

In the first quarter of 2021, a 3.43-hectare property was sold for 824,040 euros (excluding VAT).

In the first quarter of 2022, a 0.53-hectare property was sold for 213,200 euros (excluding VAT).

Condensed statement of financial position as of 31 March 2022 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 quarter of 2022 of AS Trigon Property Development is 108,908 euros and the earnings per share is 0.02421 EUR.

As of 31 March 2022 the assets of AS Trigon Property Development were 2,546,828 euros. The equity of the company was 2,471,987 euros, corresponding to 97.06 % of the total balance sheet.


Condensed statement of financial position

Cash and cash equivalents968,407938,858
Trade and other receivables29,341166,825
Total current assets2,546,8282,558,672
TOTAL ASSETS2,546,8282,558,672
Trade and other payables74,841195,593
Total current liabilities74,841195,593
Total liabilities74,841195,593
Share capital at book value449,906449,906
Share premium226,056226,056
Statutory reserve capital287,542287,542
Retained earnings1,508,4831,399,575
Total equity2,471,9872,363,079


Condensed statement of comprehensive income

EURI Q 2022I Q 2021
Gain on sales213,2000
Costs of goods sold-83,8300
Gross profit129,3700
Administrative and general expenses-20,487-21,408
Expenses related to investment property0-1,983
Changes in fair value of investment property088,040
Operating profit108,88264,649
Financial income2519




Rando Tomingas

Member of the Management Board

+372 667 9200



2022 I Q interim ENG.pdf