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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

EUR30.06.202431.12.2023
Cash and cash equivalents112,703176,133
Trade and other receivables10,0111,927
Inventories1,552,0371,530,405
Total current assets1,674,7511,708,465
TOTAL ASSETS1,674,7511,708,465
Trade and other payables52521,099
Total current liabilities52521,099
Total liabilities52521,099
Share capital at book value449,906449,906
Share premium226,056226,056
Statutory reserve capital287,542287,542
Retained earnings710,722723,862
Total equity1,674,2261,687,366
TOTAL LIABILITIES AND EQUITY1,674,7511,708,465

Condensed statement of comprehensive income

EUR6 M 20246 M 2023
Administrative and general expenses-19,699-18,201
Other operating income5,0000
Operating loss-14,699-18,201
Financial income1,559394
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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