27.11.2014
As at the end of third quarter of 2014, 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 2014 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 the first nine months of 2014 of AS Trigon Property Development is 29,664 euros and the earnings per share is -0.00659 EUR.
As of 30 September 2014 the consolidated assets of AS Trigon Property Development were 2,330,544 euros. The consolidated equity of the company was 2,142,290 euros, corresponding to 92 % of the total balance sheet.
Condensed consolidated statement of financial position
EUR | 30.09.2014 | 31.12.2013 |
Cash | 19 | 1 366 |
Receivables and prepayments | 525 | 1 013 |
Total current assets | 544 | 2 379 |
Investment property | 2 330 000 | 2 330 000 |
Total non-current assets | 2 330 000 | 2 330 000 |
TOTAL ASSETS | 2 330 544 | 2 332 379 |
Borrowings | 12 516 | 25 032 |
Payables and prepayments | 25 592 | 25 747 |
Total current liabilities | 38 108 | 50 779 |
Long-term borrowings | 150 146 | 109 646 |
Total non-current liabilities | 150 146 | 109 646 |
Total liabilities | 188 254 | 160 425 |
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 | -1 070 745 | -1 041 081 |
Total equity | 2 142 290 | 2 171 954 |
TOTAL LIABILITIES AND EQUITY | 2 330 544 | 2 332 379 |
Condensed consolidated statement of comprehensive income
EUR | 9 months 2014 | 9 months 2013 |
Rental income | 3 420 | 10 920 |
Expenses related to investment property | -5 771 | -10 588 |
Gross loss | -2 351 | 332 |
Administrative and general expenses | -19 836 | -22 586 |
Operating loss | -22 187 | -22 254 |
Net financial income | -7 477 | -4 511 |
NET LOSS FOR THE PERIOD | -29 664 | -26 765 |
TOTAL COMPREHENSIVE LOSS | -29 664 | -26 765 |
Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200