27.02.2009 The balance sheet as of 31.12.2008 and 31.12.2007 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development. The current income statement for 12 months of 2008 reflects the profit of AS Trigon Property Development and the comparative information reflects the profit of AS Trigon Property Development and AS Viisnurk. According to the presented income statement the net loss for 12 months 2008 of AS Trigon Property Development is 13 180 thousand EEK and the earnings per share is -2.93 EEK. Consolidated loss for the accounting period results from revaluation of the real estate in the total amount of minus EEK 13 259 thousand. As of 31.12.2008 the consolidated assets of AS Trigon Property Development was EEK 124 474 thousand. The consolidated equity of the company was EEK 121 139 thousand, corresponding to 97.32 % of the total balance sheet. Condensed consolidated balance sheet -------------------------------------------------------------------------------- | | EEK thous | EEK thous | EUR thous | EUR thous | -------------------------------------------------------------------------------- | | 31.12.200 | 31.12.2007 | 31.12.2008 | 31.12.2007 | | | 8 | | | | -------------------------------------------------------------------------------- | Cash | 69 | 372 | 4 | 24 | -------------------------------------------------------------------------------- | Receivables and | 125 | 84 | 8 | 5 | | prepayments | | | | | -------------------------------------------------------------------------------- | Total current assets | 194 | 456 | 12 | 29 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Investment property | 124 280 | 137 251 | 7 943 | 8 772 | -------------------------------------------------------------------------------- | Total non-current | 124 280 | 137 251 | 7 943 | 8 772 | | assets | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 124 474 | 137 707 | 7 955 | 8 801 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Borrowings | 1 026 | 392 | 65 | 25 | -------------------------------------------------------------------------------- | Payables and | 155 | 450 | 10 | 29 | | prepayments | | | | | -------------------------------------------------------------------------------- | Total current | 1 181 | 842 | 75 | 54 | | liabilities | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Long-term borrowings | 2 154 | 2 546 | 138 | 163 | -------------------------------------------------------------------------------- | Total non-current | 2 154 | 2 546 | 138 | 163 | | liabilities | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Total liabilities | 3 335 | 3 388 | 213 | 217 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Share capital at | 44 991 | 44 991 | 2 875 | 2 875 | | nominal value | | | | | -------------------------------------------------------------------------------- | Share premium | 3 537 | 3 537 | 226 | 226 | -------------------------------------------------------------------------------- | Statutory reserve | 4 499 | 4 499 | 288 | 288 | | capital | | | | | -------------------------------------------------------------------------------- | Retained earnings | 68 112 | 81 292 | 4 353 | 5 195 | -------------------------------------------------------------------------------- | Total equity | 121 139 | 134 319 | 7 742 | 8 584 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES | 124 474 | 137 707 | 7 955 | 8 801 | | AND EQUITY | | | | | -------------------------------------------------------------------------------- Condensed consolidated income statement -------------------------------------------------------------------------------- | | EEK thous | EEK thous | EUR thous | EUR thous | -------------------------------------------------------------------------------- | | 12 months | 12 months | 12 months | 12 months | | | 2008 | 2007 | 2008 | 2007 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Continuing operations | | | | | -------------------------------------------------------------------------------- | Rental income | 468 | 343 | 30 | 22 | -------------------------------------------------------------------------------- | Expenses related to | (180) | (181) | (11) | (12) | | investment property | | | | | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Gross profit | 288 | 162 | 19 | 10 | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Administrative and | (378) | (631) | (24) | (40) | | general expenses | | | | | -------------------------------------------------------------------------------- | Change in fair value | (13 259) | 26 332 | (847) | 1 683 | | of investment | | | | | | property | | | | | -------------------------------------------------------------------------------- | Other operating | 226 | 0 | 14 | 0 | | income | | | | | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Operating profit | (13 123) | 25 863 | (838) | 1 653 | | (loss) | | | | | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Net financial income | (57) | (38) | (4) | (2) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit (loss) from | (13 180) | 25 825 | (842) | 1 651 | | continuing operations | | | | | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Profit from | 0 | 11 875 | 0 | 758 | | discontinued | | | | | | operations | | | | | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Profit (loss) before | (13 180) | 37 700 | (842) | 2 409 | | income tax | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Corporate income tax | 0 | (475) | 0 | (30) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | NET PROFIT (LOSS) FOR | (13 180) | 37 225 | (842) | 2 379 | | THE PERIOD | | | | | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Basic earnings per | -2.93 | 8.27 | -0.19 | 0.53 | | share | | | | | -------------------------------------------------------------------------------- | Diluted earnings per | -2.93 | 8.27 | -0.19 | 0.53 | | share | | | | | -------------------------------------------------------------------------------- Ülo Adamson Chairman of the Supervisory Board Investor relations +372 6679 200
Unaudited Financial results of Trigon Property Development, 12 months of
| Source: Trigon Property Development
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