Unaudited financial report for the third

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The main activity of Trigon Property Development AS is property development. As of 30.09.2021, 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 to be developed in 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 September 30, 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, the net profit for the first 9 months of 2021 of AS Trigon Property Development is 298,307 euros and the earnings per share are 0.06630 EUR.

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

Condensed Statement of Financial Position

USD 30.09.2021 31.12.2020
Cash 1,488,952 146,890
Receivables and installments 43,189 789
Total current assets 1,532,141 147,679
Investment property 1,358,267 2,350,000
Total non-current assets 1,358,267 2,350,000
TOTAL ASSETS 2,890,408 2,497,679
Debts and installments 501 164 6,325
Total current liabilities 501 164 6,325
Total responsibilities 501 164 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 1,425,740 -321 264
Total equity 2,389,244 2,491,354
TOTAL LIABILITIES AND EQUITY 2,890,408 2,497,679

Summary statement of comprehensive income

USD 9M 2021 9M 2020
Gain on sale of investment properties 464,040 4,405
Expenses related to investment properties -5,983 -8,409
Gross profit / loss 458,057 -4,004
Administrative and general costs -59,831 -11,758
Other exploitation products 100 0
Operating profit / loss 398 326 -15,762
Net financial income 86 ten
Profit/loss before income tax 398 411 -15,752
income tax expense -100 104 0
NET PROFIT/LOSS FOR THE PERIOD 298 307 -15,752
TOTAL OVERALL PROFIT/LOSS 298 307 -15,752

Hike Tomingas

Member of the Management Board

+372 667 9200

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