The main business activity of Trigon Property Development AS is real estate
development. As at 30.06.2020, AS Trigon Property Development owned one
development project with an area of 21 hectares in the City of Pärnu, Estonia.
An industrial and logistics park is planned to be developed 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.
In the second quarter of 2020 a 0.7-hectare property at the price of 65 000
euros was sold.
Condensed statement of financial position as of 30 June 2020 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 2020 of AS Trigon Property Development is -10,569 euros and
the earnings per share is -0.00235 EUR.
As of 30 June 2020 the assets of AS Trigon Property Development were 2,133,350
euros. The equity of the company was 2,132,892 euros, corresponding to 99.98 %
of the total balance sheet.
Condensed statement of financial position
+------------------------------+------------+------------+
| EUR | 30.06.2020 | 31.12.2019 |
+------------------------------+------------+------------+
| Cash | 155,438 | 150,007 |
+------------------------------+------------+------------+
| Receivables and prepayments | 2,506 | 7,381 |
+------------------------------+------------+------------+
| Total current assets | 157,944 | 157,388 |
+------------------------------+------------+------------+
| Investment property | 1,975,406 | 2,036,000 |
+------------------------------+------------+------------+
| Total non-current assets | 1,975,406 | 2,036,000 |
+------------------------------+------------+------------+
| TOTAL ASSETS | 2,133,350 | 2,193,388 |
+------------------------------+------------+------------+
| Payables and prepayments | 458 | 49,927 |
+------------------------------+------------+------------+
| Total current liabilities | 458 | 49,927 |
+------------------------------+------------+------------+
| Total liabilities | 458 | 49,927 |
+------------------------------+------------+------------+
| Share capital at book value | 2,299,020 | 2,299,020 |
+------------------------------+------------+------------+
| Share premium | 226,056 | 226,056 |
+------------------------------+------------+------------+
| Statutory reserve capital | 287,542 | 287,542 |
+------------------------------+------------+------------+
| Accumulated loss | -679,726 | -699,157 |
+------------------------------+------------+------------+
| Total equity | 2,132,892 | 2,143,461 |
+------------------------------+------------+------------+
| TOTAL LIABILITIES AND EQUITY | 2,133,350 | 2,193,388 |
+------------------------------+------------+------------+
Condensed statement of comprehensive income
+-----------------------------------------+----------+----------+
| EUR | 6 M 2020 | 6 M 2019 |
+-----------------------------------------+----------+----------+
| Gain on sales of investment | 4,405 | 0 |
+-----------------------------------------+----------+----------+
| Expenses related to investment property | -6,335 | -7,311 |
+-----------------------------------------+----------+----------+
| Gross loss | 1,930 | -7,311 |
+-----------------------------------------+----------+----------+
| Administrative and general expenses | -8,646 | -8,804 |
+-----------------------------------------+----------+----------+
| Operating loss | -16,576 | -16,115 |
+-----------------------------------------+----------+----------+
| Net financial income | 7 | 3 |
+-----------------------------------------+----------+----------+
| NET LOSS FOR THE PERIOD | -10,569 | -16,112 |
+-----------------------------------------+----------+----------+
| TOTAL COMPREHENSIVE LOSS | -10,569 | -16,112 |
+-----------------------------------------+----------+----------+
Rando Tomingas
Member of the Management Board
+372 667 9200
|