Unaudited financial report for the third quarter and 9 months of 2023

The main business activity of Trigon Property Development AS is real estate development. As at 30.09.2023, 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).

In the third quarter of 2023, a 0.53-hectare transportation purpose land was sold for 26,580 euros (excluding VAT).

Condensed statement of financial position as of 30 September 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 profit for first 9 months of 2023 of AS Trigon Property Development is 294 euros and the earnings per share is 0.00007 EUR.

As of 30 September 2023, the assets of AS Trigon Property Development were 1,723,457 euros. The equity of the company was 1,720,072 euros, corresponding to 99.80 % of the total balance sheet.

Condensed statement of financial position

EUR 30.09.2023 31.12.2022
Cash and cash equivalents 168,173 199,196
Trade and other receivables 22,012 19,844
Inventories 1,533,273 1,519,536
Total current assets 1,723,457 1,738,576
TOTAL ASSETS 1,723,457 1,738,576
Trade and other payables 3,386 18,798
Total current liabilities 3,386 18,798
Total liabilities 3,386 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 756,568 756,274
Total equity 1,720,072 1,719,778
TOTAL LIABILITIES AND EQUITY 1,723,457 1,738,576

Condensed statement of comprehensive income

EUR 9 M 2023 9 M 2022
Revenue 26,580 614,480
Costs of goods sold 0 -259,267
Gross profit 26,580 355,213
Administrative and general expenses -27,271 -40,735
Operating profit/loss -691 314,478
Financial income 985 45
PROFIT FOR THE PERIOD 294 314,522
Income tax expense 0 -134,580
TOTAL COMPREHENSIVE PROFIT 294 179,942

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: info@trigonproperty.com

Attachment

  • 2023 III Q interim ENG
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