Trigon Property Development: Unaudited financial report for the third quarter and 9 months of 2021

Trigon Property DevelopmentThe main business activity of Trigon Property Development AS is real estate development. As at 30.09.2021, AS Trigon Property Development owned one development project with an area of 14.3 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 first quarter of 2021 a 3.43-hectare property at the price of 824 040 (VAT not included) euros was sold.

In the second quarter of 2021 a 0.89-hectare property at the price of 205 000 (VAT not included) euros was sold.

In the third quarter of 2021 a 2.01-hectare property at the price of 604 080 (VAT not included) euros was sold.

Condensed statement of financial position as of 30 September 2021 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 first 9 months of 2021 of AS Trigon Property Development is 398,411 euros and the earnings per share is 0.08855 EUR.

As of 30 September 2021 the assets of AS Trigon Property Development were 2,890,408 euros. The equity of the company was 2,889,764 euros, corresponding to 99.98 % of the total balance sheet.

Condensed statement of financial position

EUR 30.09.2021 31.12.2020
Cash 1,488,952 146,890
Receivables and prepayments 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
Payables and prepayments 644 6,325
Total current liabilities 644 6,325
Total liabilities 644 6,325
Share capital at book value 2,299,020 2,299,020
Share premium 226,056 226,056
Statutory reserve capital 287,542 287,542
Retained earnings /loss 77,146 -321,264
Total equity 2,889,764 2,491,354

Condensed statement of comprehensive income

EUR 9 M 2021 9 M 2020
Gain on sales of investment property 464,040 4,405
Expenses related to investment property -5,983 -8,409
Gross profit /loss 458,057 -4,004
Administrative and general expenses -59,831 -11,758
Other operating income 100 0
Operating profit /loss 398,326 -15,762
Net financial income 86 10

2021 III Q interim

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