Unaudited financial report for the fourth quarter and 12 months of 2024
The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2024, AS Trigon Property Development owned one development project with an area of 13.4 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).
In the third quarter of 2024, a 0.09-hectare transportation purpose land was sold for 31,920 euros (excluding VAT).
In the fourth quarter of 2024, a 0.70-hectare property was sold for 300,000 euros (excluding VAT).
Condensed statement of financial position as of 31 December 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 profit for 2024 of AS Trigon Property Development is 167,409 euros and the earnings per share is 0.03721 EUR.
As of 31 December 2024 the assets of AS Trigon Property Development were 1,875,897 euros. The equity of the company was 1,854,774 euros, corresponding to 99.87 % of the total balance sheet.
Condensed statement of financial position
| EUR | 31.12.2024 | 31.12.2023 |
| Cash and cash equivalents | 370,856 | 176,133 |
| Trade and other receivables | 33,803 | 1,927 |
| Inventories | 1,471,238 | 1,530,405 |
| Total current assets | 1,875,897 | 1,708,465 |
| TOTAL ASSETS | 1,875,897 | 1,708,465 |
| Trade and other payables | 21,123 | 21,099 |
| Total current liabilities | 21,123 | 21,099 |
| Total liabilities | 21,123 | 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 | 891,270 | 723,862 |
| Total equity | 1,854,774 | 1,687,366 |
| TOTAL LIABILITIES AND EQUITY | 1,875,897 | 1,708,465 |
Condensed statement of comprehensive income
| EUR | 12 M 2024 | 12 M 2023 |
| Revenue | 331,920 | 26,580 |
| Costs of goods sold | -111,621 | -5,316 |
| Gross profit | 220,299 | 21,264 |
| Administrative and general expenses | -63,650 | -55,006 |
| Other operating income | 5,000 | 0 |
| Operating profit/loss | 161,649 | -33,742 |
| Financial income | 5,760 | 1,330 |
| NET PROFIT/LOSS FOR THE PERIOD | 167,409 | -32,412 |
| TOTAL COMPREHENSIVE PROFIT/LOSS FOR THE PERIOD | 167,409 | -32,412 |
Rando Tomingas
Member of the Management Board
Telephone: +372 667 9200
E-mail: info@trigonproperty.com
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