30.08.2023 12:21:07

Unaudited financial report for the second quarter and 6 months of 2023

The main business activity of Trigon Property Development AS is real estate development. As at 30.06.2023, AS Trigon Property Development owned one development project with an area of 12.8 hectares in the City of Pärnu, Estonia. A commercial, industrial and logistics park is planned on 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 plots owned by the Company. As the main purpose of the company is to sell existing land plots, investment property was recognized as inventories.

In the first quarter of 2022, a 0.53-hectare property was sold for 213,200 euros (excluding VAT).

In the second quarter of 2022, a 1.0-hectare property was sold for 401,280 euros (excluding VAT).

Condensed statement of financial position as of 30 June 2023 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the condensed statement of comprehensive income the net loss for first 6 months of 2023 of AS Trigon Property Development is -17,807 euros and the earnings per share is -0.00396 EUR.

As of 30 June 2023 the assets of AS Trigon Property Development were 1,702,669 euros. The equity of the company was 1,701,971 euros, corresponding to 99.96 % of the total balance sheet.

Condensed statement of financial position

EUR30.06.202331.12.2022
Cash and cash equivalents143,981199,196
Trade and other receivables25,79019,844
Inventories1,532,8981,519,536
Total current assets1,702,6691,738,576
TOTAL ASSETS1,702,6691,738,576
Trade and other payables69818,798
Total current liabilities69818,798
Total liabilities69818,798
Share capital at book value449,906449,906
Share premium226,056226,056
Statutory reserve capital287,542287,542
Retained earnings738,467756,274
Total equity1,701,9711,719,778
TOTAL LIABILITIES AND EQUITY1,702,6691,738,576


Condensed statement of comprehensive income

EUR6 M 20236 M 2022
Revenue0614,480
Costs of goods sold0-259,267
Gross profit0355,213
Administrative and general expenses-18,201
-40,735
Operating profit/loss-18,201
314,478
Financial income39445
PROFIT/LOSS FOR THE PERIOD-17,807
314,522
Income tax expense0-134,580
TOTAL COMPREHENSIVE PROFIT/LOSS-17,807
179,942

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: info@trigonproperty.com


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