As at the end of fourth 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 31 December 2013 and 31 December 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 12 months of 2013 of AS Trigon Property Development is -8,872 euros and the earnings per share is -0,00197 EUR.
As of 31 December 2013 the consolidated assets of AS Trigon Property Development were 2,332,379 euros. The consolidated equity of the company was 2,171,954 euros, corresponding to 93 % of the total balance sheet.
Condensed consolidated statement of financial position
| EUR | 31.12.2013 | 31.12.2012 | |
| Cash | 1 366 | 26 868 | |
| Receivables and prepayments | 1 013 | 2 918 | |
| Total current assets | 2 379 | 29 786 | |
| Investment property | 2 330 000 | 2 290 000 | |
| TOTAL ASSETS | 2 332 379 | 2 319 786 | |
| Borrowings | 25 032 | 25 032 | |
| Payables and prepayments | 25 747 | 23 250 | |
| Total current liabilities | 50 779 | 48 282 | |
| Long-term borrowings | 109 646 | 90 677 | |
| Total liabilities | 160 425 | 138 959 | |
| 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 | -1 041 081 | -1 032 208 | |
| Total equity | 2 171 954 | 2 180 827 | |
| TOTAL LIABILITIES AND EQUITY | 2 332 379 | 2 319 786 |
Condensed consolidated statement of comprehensive income
| EUR | 4 Q 2013 | 4 Q 2012 | 2013 | 2012 |
| Rental income | 1 409 | 4 373 | 12 329 | 18 213 |
| Expenses related to investment property | -7 269 | -9 753 | -17 857 | -20 096 |
| Gross profit (-loss) | -5 860 | -5 380 | -5 528 | -1 883 |
| Administrative and general expenses | -13 430 | -15 516 | -36 016 | -47 194 |
| Changes in fair value of investment property | 40 000 | -94 520 | 40 000 | 76 000 |
| Operating profit (-loss) | 20 710 | -115 416 | -1 544 | 26 923 |
| Net financial income | -2 817 | -2 571 | -7 328 | -10 121 |
| NET PROFIT (-LOSS) FOR THE PERIOD | 17 893 | -117 987 | -8 872 | 16 802 |
| TOTAL COMPREHENSIVE INCOME | 17 893 | -117 987 | -8 872 | 16 802 |
Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200
