As at the end of second quarter 2013, AS Trigon Property Development owned one property development project involving 35.46-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 30 September 2013 and 30 September 2012 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 profit for 9 months of 2013 of AS Trigon Property Development is -26,765 euros and the earnings per share is -0,00595 EUR.
As of 30 September 2013 the consolidated assets of AS Trigon Property Development were 2,300,422 euros. The consolidated equity of the company was 2,154,062 euros, corresponding to 94 % of the total balance sheet.
Condensed consolidated statement of financial position
EUR | 30.09.2013 | 30.09.2012 | |
Cash | 10 081 | 124 245 | |
Receivables and prepayments | 341 | 2 353 | |
Total current assets | 10 422 | 126 598 | |
Investment property | 2 290 000 | 2 384 520 | |
TOTAL ASSETS | 2 300 422 | 2 511 118 | |
Borrowings | 12 516 | 12 516 | |
Payables and prepayments | 17 167 | 34 080 | |
Total current liabilities | 29 683 | 46 596 | |
Long-term borrowings | 116 677 | 165 708 | |
Total liabilities | 146 360 | 212 304 | |
Share capital at nominal value | 2 699 437 | 2 699 437 | |
Share premium | 226 056 | 226 056 | |
Statutory reserve capital | 287 542 | 287 542 | |
Retained earnings | -1 058 973 | -914 221 | |
Total equity | 2 154 062 | 2 298 814 | |
TOTAL LIABILITIES AND EQUITY | 2 300 422 | 2 511 118 |
Condensed consolidated statement of comprehensive income
EUR | Q3 2013 | Q3 2012 | 9 m 2013 | 9 m 2012 |
Rental income | 3 640 | 4 740 | 10 920 | 13 840 |
Expenses related to investment property | -1 000 | -59 | -10 588 | -10 343 |
Gross profit | 2 640 | 4 681 | 332 | 3 497 |
Administrative and general expenses | -7 151 | -9 029 | -22 586 | -31 678 |
Changes in fair value of investment property | 0 | 0 | 0 | 170 520 |
Operating loss | -4 511 | -4 348 | -22 254 | 142 339 |
Net financial income | -1 281 | -1 787 | -4 511 | -7 550 |
NET LOSS FOR THE PERIOD | -5 792 | -6 135 | -26 765 | 134 789 |
TOTAL COMPREHENSIVE INCOME | -5 792 | -6 135 | -26 765 | 134 789 |
Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200