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