U.S. Markets closed

Unaudited financial report for the fourth quarter and 12 months of 2019

The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2019, AS Trigon Property Development owned one development project with an area of 21 hectares in the City of Pärnu, Estonia. An industrial and logistics park is planned to be developed 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.

Condensed statement of financial position as of 31 December 2019 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 profit for 2019 of AS Trigon Property Development is 354,412 euros and the earnings per share  is 0.07877 EUR.

As of 31 December 2019 the assets of AS Trigon Property Development were 2,193,388 euros. The equity of the company was 2,143,461 euros, corresponding to 97.72 % of the total balance sheet.

Condensed statement of financial position

EUR 31.12.2019 31.12.2018
Cash 150,007 73,296
Receivables and prepayments 7,381 3,192
Total current assets 157,388 76,488
Investment property 2,036,000 1,721,474
Total non-current assets 2,036,000 1,721,474
TOTAL ASSETS 2,193,388 1,797,962
Payables and prepayments 49,927 8,913
Total current liabilities 49,927 8,913
Total liabilities 49,927 8,913
Share capital at book value 2,299,020 2,299,020
Share premium 226,056 226,056
Statutory reserve capital 287,542 287,542
Accumulated loss -669,157 -1,023,569
Total equity 2,143,461 1,789,049
TOTAL LIABILITIES AND EQUITY 2,193,388 1,797,962

Condensed statement of comprehensive income

EUR 12 M 2019 12 M 2018
Expenses related to investment property -11,621 -8,864
Gross loss -11,621 -8,864
Administrative and general expenses -23,501 -21,445
Changes in fair value of investment property 389,526 0
Other operating income 0 1,658
Operating profit/loss 354,404 -28,651
Net financial income 8 2
NET PROFIT/LOSS FOR THE PERIOD 354,412 -28,649
TOTAL COMPREHENSIVE PROFIT/LOSS 354,412 -28,649

Rando Tomingas
Member of the Management Board 
+372 667 9200


Attachment