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
