Trigon Property Development: Unaudited financial report for the fourth quarter and 12 months 2020

Trigon Property DevelopmentThe main business activity of Trigon Property Development AS is real estate development. As at 31.12.2020, 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.

In the second quarter of 2020 a 0.7-hectare property at the price of 65 000 euros was sold.

Condensed statement of financial position as of 31 December 2020 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 2020 of AS Trigon Property Development is 347,893 euros and the earnings per share  is 0.07733 EUR.

As of 31 December 2020 the assets of AS Trigon Property Development were 2,497,679 euros. The equity of the company was 2,491,354 euros, corresponding to 99.75 % of the total balance sheet.

Condensed statement of financial position

EUR 31.12.2020 31.12.2019
Cash 146,890 150,007
Receivables and prepayments 789 7,381
Total current assets 147,679 157,388
Investment property 2,350,000 2,036,000
Total non-current assets 2,350,000 2,036,000
TOTAL ASSETS 2,497,679 2,193,388
Payables and prepayments 6,325 49,927
Total current liabilities 6,325 49,927
Total liabilities 6,325 49,927
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 -321,264 -699,157
Total equity 2,491,354 2,143,461

Condensed statement of comprehensive income

EUR 12 M 2020 12 M 2019
Gain on sales of investment 4,406 0
Expenses related to investment property -10,544 -11,621
Gross loss – 6,139 -11,621
Administrative and general expenses -20,576 -23,501
Changes in fair value of investment property 374,594 389,526
Operating profit 347,879 354,404
Net financial income 14 8
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