Published: 2016-11-30 16:17:45 CET
Trigon Property Development
Quarterly report

Consolidated unaudited financial report for the third quarter and 9 months of 2016


As at the end of third quarter of 2016, AS Trigon Property Development owned one property development project involving 32.8-hectare land plot in the City of Pärnu, Niidu area. Industrial and logistics park are planned to develop on this area. Group’s intention is to find companies willing to bring their business activities (industry, logistics) to the development project area of Trigon Property Development in Pärnu, which makes it possible for Group to add value to the land plots owned by Group. The realization of the value of the land is planned through sales of land plots or through development of real estate to the rental income earning project.

Condensed consolidated statement of financial position as of 30 September 2016 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the condensed consolidated statement of comprehensive income the net loss for first 9 months of 2016 of AS Trigon Property Development is -42,553 euros and the earnings per share  is -0.00946 EUR.

As of 30 September 2016 the consolidated assets of AS Trigon Property Development were 2,374,721 euros. The consolidated equity of the company was 2,372,556 euros, corresponding to 99.91 % of the total balance sheet.

Condensed consolidated statement of financial position

EUR   30.09.2016 31.12.2015
Cash   56,935 100,540
Receivables and prepayments   5,578 17,004
Total current assets   62,513 117,544
Investment property   2,312,208 2,310,000
Total non-current assets   2,312,208 2,310,000
TOTAL ASSETS   2,374,721 2,427,544
Payables and prepayments   2,165 12,435
Total current liabilities   2,165 12,435
Total liabilities   2,165 12,435
Share capital at nominal value   2,699,437 2,699,437
Share premium   226,056 226,056
Statutory reserve capital   287,542 287,542
Retained earnings   -840,479 -797,926
Total equity   2,372,556 2,415,109
TOTAL LIABILITIES AND EQUITY   2,374,721 2,427,544


Condensed consolidated statement of comprehensive income

EUR 9 M 2016 9 M 2015
Expenses related to investment property -7,087 -6,382
Gross loss -7,087 -6,382
Administrative and general expenses -33,873 17,973
Change in fair value of investment property -1,600 0
Operating loss -42,553 -24,355
Net financial income 7 -2,246
NET LOSS FOR THE PERIOD -42,553 -26,601


Joakim Helenius

Chairman of the Supervisory Board

+372 667 9200


2016 III Q interim ENG.pdf