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Unaudited financial report for the first quarter 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 31.03.2024, 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 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 31 March 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 quarter of 2024 of AS Trigon Property Development is -7,820 euros and the earnings per share is -0.00174 EUR.

As of 31 March 2024 the assets of AS Trigon Property Development were 1,691,701 euros. The equity of the company was 1,679,546 euros, corresponding to 99.28 % of the total balance sheet.

Condensed statement of financial position

EUR31.03.202431.12.2023
Cash and cash equivalents130,249176,133
Trade and other receivables13,0471,927
Inventories1,548,4051,530,405
Total current assets1,691,7011,708,465
TOTAL ASSETS1,691,7011,708,465
Trade and other payables12,15621,099
Total current liabilities12,15621,099
Total liabilities12,15621,099
Share capital at book value449,906449,906
Share premium226,056226,056
Statutory reserve capital287,542287,542
Retained earnings716,042723,862
Total equity1,679,5461,687,366
TOTAL LIABILITIES AND EQUITY1,691,7011,708,465

Condensed statement of comprehensive income

EURI Q 2024I Q 2023
Administrative and general expenses-9,303-8,939
Operating loss-9,303-8,939
Financial income1,48470
NET LOSS FOR THE PERIOD-7,820-8,868
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD-7,820-8,868

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: info@trigonproperty.com

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