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
