27.04.2012
As at the end of year 2011, AS Trigon Property Development owned one property development project involving 36-hectare land plot in the City of Pärnu, Niidu area. Commercial real estate will be developed on this area. AS Trigon Property Development considers expansion of business activity and analyses acquisition opportunities for different new projects.
The condensed consolidated statement of financial position as of 31.12.2011 and 31.12.2010 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.
According to the presented condensed consolidated statement of comprehensive income the net loss for year 2011 of AS Trigon Property Development is 1 742 532 EUR and the earnings per share is -0.39 EUR.
As of 31.12.2011 the consolidated assets of AS Trigon Property Development were 2 440 010 EUR. The consolidated equity of the company was 2 164 025 EUR, corresponding to 88.69 % of the total balance sheet.
Condensed consolidated statement of financial position
EUR | 31.12.2011 | 31.12.2010 |
Cash | 12 492 | 7 804 |
Receivables and prepayments | 2 518 | 812 |
Total current assets | 15 010 | 8 616 |
Investment property | 2 425 000 | 4 167 039 |
Total non-current assets | 2 425 000 | 4 167 039 |
TOTAL ASSETS | 2 440 010 | 4 175 656 |
Borrowings | 25 032 | 31 806 |
Payables and prepayments | 55 244 | 16 553 |
Total current liabilities | 80 276 | 48 359 |
Long-term borrowings | 195 709 | 220 740 |
Total non-current liabilities | 195 709 | 220 740 |
Total liabilities | 275 985 | 269 099 |
Share capital at nominal value | 2 699 437 | 2 875 424 |
Share premium | 226 056 | 226 056 |
Statutory reserve capital | 287 542 | 287 542 |
Retained earnings | (1 049 010) | 517 535 |
Total equity | 2 164 025 | 39 06 557 |
TOTAL LIABILITIES AND EQUITY | 2 440 010 | 4 175 656 |
Condensed consolidated statement of comprehensive income
EUR | 2011 | 2010 |
Rental income | 22 480 | 27 290 |
Expenses related to investment property | (14 479) | (24 874) |
Gross loss (profit) | 8 001 | 2 416 |
Administrative and general expenses | (26 689) | (16 260) |
Change in fair value of investment property | (1 712 039) | 0 |
Operating loss | (1 730 727) | (13 844) |
Net financial income | (11 805) | (11 288) |
NET LOSS FOR THE PERIOD | (1 742 532) | (25 132) |
TOTAL COMPREHENSIVE INCOME | (1 742 532) | (25 132) |
Basic earnings per share | (0,39) | (0,01) |
Diluted earnings per share | (0,39) | (0,01) |
Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200