Unaudited financial report for the second quarter and 6 months of 2024

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

The main business activity of Trigon Property Development AS is real estate development. As at 30.06.2024, AS Trigon Property Development owned one development project with an area of 14.2 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 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 June 2024 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 2024 of AS Trigon Property Development is -13,140 euros and the earnings per share is -0.00292 EUR.

As of 30 June 2024 the assets of AS Trigon Property Development were 1,674,751 euros. The equity of the company was 1,674,226 euros, corresponding to 99.97 % of the total balance sheet.

Condensed statement of financial position

EUR 30.06.2024 31.12.2023
Cash and cash equivalents 112,703 176,133
Trade and other receivables 10,011 1,927
Inventories 1,552,037 1,530,405
Total current assets 1,674,751 1,708,465
TOTAL ASSETS 1,674,751 1,708,465
Trade and other payables 525 21,099
Total current liabilities 525 21,099
Total liabilities 525 21,099
Share capital at book value 449,906 449,906
Share premium 226,056 226,056
Statutory reserve capital 287,542 287,542
Retained earnings 710,722 723,862
Total equity 1,674,226 1,687,366
TOTAL LIABILITIES AND EQUITY 1,674,751 1,708,465

Condensed statement of comprehensive income

EUR 6 M 2024 6 M 2023
Administrative and general expenses -19,699 -18,201
Other operating income 5,000 0
Operating loss -14,699 -18,201
Financial income 1,559 394
NET LOSS FOR THE PERIOD -13,140 -17,807
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD -13,140 -17,807

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: info@trigonproperty.com

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