28.02.2011
As at the end of fourth quarter 2010, AS Trigon Property Development owned one property development project involving 36-hectare land plot in the City of Pärnu, Niidu area. Trigon Property Development AS considers expansion of business activity and analyses acquisition opportunities for different new projects.
Condensed consolidated statement of financial position as of 31.12.2010 and 31.12.2009 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.
According to the condensed consolidated statement of comprehensive income the net loss for 12 months 2010 of AS Trigon Property Development is 393 thousand EEK/25 thousand EUR and the earnings per share is –0.09 EEK/-0.01 EUR.
As of 31.12.2010 the consolidated assets of AS Trigon Property Development were 65 335 thousand EEK/4 176 thousand EUR. The consolidated equity of the company was 61 124 thousand EEK/3 906 thousand EUR, corresponding to 93.55 % of the total balance sheet.
Condensed consolidated statement of financial position
| EEK thous | EEK thous | EUR thous | EUR thous | |
| 31.12.2010 | 31.12.2009 | 31.12.2010 | 31.12.2009 | |
| Cash | 122 | 71 | 8 | 5 |
| Receivables and prepayments | 13 | 190 | 1 | 12 |
| Total current assets | 135 | 261 | 9 | 17 |
| Investment property | 65 200 | 65 200 | 4 167 | 4 167 |
| Total non-current assets | 65 200 | 65 200 | 4 167 | 4 167 |
| TOTAL ASSETS | 65 335 | 65 461 | 4 176 | 4 184 |
| Borrowings | 498 | 2 071 | 32 | 132 |
| Payables and prepayments | 259 | 111 | 17 | 7 |
| Total current liabilities | 757 | 2 182 | 49 | 139 |
| Long-term borrowings | 3 454 | 1 762 | 221 | 113 |
| Total non-current liabilities | 3 454 | 1 762 | 221 | 113 |
| Total liabilities | 4 211 | 3 944 | 270 | 252 |
| Share capital at nominal value | 44 991 | 44 991 | 2 875 | 2 875 |
| Share premium | 3 537 | 3 537 | 226 | 226 |
| Statutory reserve capital | 4 499 | 4 499 | 288 | 288 |
| Retained earnings | 8 097 | 8 490 | 517 | 543 |
| Total equity | 61 124 | 61 517 | 3 906 | 3 932 |
| TOTAL LIABILITIES AND EQUITY | 65 335 | 65 461 | 4 176 | 4 184 |
Condensed consolidated statement of comprehensive income
| EEK thous | EEK thous | EUR thous | EUR thous | |
| 12 months 2010 | 12 months 2009 | 12 months 2010 | 12 months 2009 | |
| Rental income | 427 | 625 | 27 | 40 |
| Expenses related to investment property | (389) | (798) | (25) | (51) |
| Gross profit | 38 | (173) | 2 | (11) |
| Administrative and general expenses | (254) | (260) | (16) | (16) |
| Change in value of investment property | 0 | (59 080) | 0 | (3 776) |
| Operating profit | (216) | (59 513) | (14) | (3 803) |
| Net financial loss | (177) | (109) | (11) | (7) |
| NET LOSS FOR THE PERIOD | (393) | (59 622) | (25) | (3 810) |
| TOTAL COMPREHENSIVE LOSS | (393) | (59 622) | (25) | (3 810) |
| Basic earnings per share | (0.09) | (13.25) | (0.01) | (0.85) |
| Diluted earnings per share | (0.09) | (13.25) | (0.01) | (0.85) |
Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200
