Unaudited financial report for the fourth quarter and 12

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The main activity of Trigon Property Development AS is property development. As of 31.12.2021, AS Trigon Property Development owned a development project with an area of ​​14.29 hectares in the city of Pärnu, Estonia. An industrial and logistics park is planned for 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 owned by the Society.

In the first quarter of 2021, a property of 3.43 hectares at a price of 824,040 euros (excluding VAT) was sold.

In the second quarter of 2021, a property of 0.89 hectares at a price of 205,000 euros (excluding VAT) was sold.

In the third quarter of 2021, a property of 2.01 hectares at a price of 604,080 euros (excluding VAT) was sold.

The condensed statement of financial position as at December 31, 2021 issued by this press release fully reflects the assets, liabilities and shareholders’ equity of AS Trigon Property Development.

According to the condensed statement of comprehensive income, AS Trigon Property Development’s net profit for 2021 is EUR 272,142 and earnings per share is EUR 0.06049.

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

Condensed Statement of Financial Position

USD 31.12.2021 31.12.2020
Cash 938 858 146,890
Receivables and installments 166,825 789
Inventories 1,374,252 0
Total current assets 2,479,935 147,679
Investment property 0 2,350,000
Total non-current assets 0 2,350,000
TOTAL ASSETS 2,479,935 2,497,679
Debts and installments 116,856 6,325
Total current liabilities 116,856 6,325
Total responsibilities 116,856 6,325
Share capital at book value 2,299,020 2,299,020
Premium 226,056 226,056
Legal reserve capital 287,542 287,542
Retained earnings/losses 1,399,575 -321 264
Total equity 2,363,079 2,491,354
TOTAL LIABILITIES AND EQUITY 2,479,935 2,497,679

Summary statement of comprehensive income

USD 12M 2021 12M 2020
gain on sales 1,633,120 0
Cost of Goods Sold -1,169,080 0
Gain on sale of investment properties 0 4,405
Gross profit 464,040 4,405
Administrative and general costs -92,014 -20,576
Expenses related to investment properties 0 -10,544
Changes in the fair value of investment properties 0 374,594
Other exploitation products 100 0
Operating result 372 126 347,879
Net financial income 120 14
Profit before income tax 372,246 347,893
income tax expense -100 104 0
NET INCOME FOR THE PERIOD 272 142 347,893
TOTAL GLOBAL BENEFIT 272 142 347,893

Hike Tomingas

Member of the Management Board

+372 667 9200

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