Trigon Property Development: Unaudited financial report for the second quarter and 6 months of 2023

Trigon Property DevelopmentThe 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

EUR 30.06.2023 31.12.2022
Cash and cash equivalents 143,981 199,196
Trade and other receivables 25,790 19,844
Inventories 1,532,898 1,519,536
Total current assets 1,702,669 1,738,576
TOTAL ASSETS 1,702,669 1,738,576
Trade and other payables 698 18,798
Total current liabilities 698 18,798
Total liabilities 698 18,798
Share capital at book value 449,906 449,906
Share premium 226,056 226,056
Statutory reserve capital 287,542 287,542
Retained earnings 738,467 756,274
Total equity 1,701,971 1,719,778

Condensed statement of comprehensive income

EUR 6 M 2023 6 M 2022
Revenue 0 614,480
Costs of goods sold 0 -259,267
Gross profit 0 355,213
Administrative and general expenses -18,201 -40,735
Operating profit/loss -18,201 314,478
Financial income 394 45
Income tax expense 0 -134,580

2023 II Q interim ENG

Kas soovid värsket kinnisvarainfot meilile?

Sisesta e-posti aadress ja ole kursis kinnisvaraturu liikumistega!

Kinnisvarakoolis järgmisena:

28.09.2023 Detailplaneeringute koostamine ja menetlemine