As at the end of second quarter of 2016, AS Trigon Property Development owned one property development project involving 32.8-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 June 2016 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 first 6 months of 2016 of AS Trigon Property Development is -23,600 euros and the earnings per share is -0.00525 EUR.
As of 30 June 2016 the consolidated assets of AS Trigon Property Development were 2,394,606 euros. The consolidated equity of the company was 2,391,509 euros, corresponding to 99.87 % of the total balance sheet.
Condensed consolidated statement of financial position
| EUR | 30.06.2016 | 31.12.2015 | |
| Cash | 81,460 | 100,540 | |
| Receivables and prepayments | 3,146 | 17,004 | |
| Total current assets | 84,606 | 117,544 | |
| Investment property | 2,310,000 | 2,310,000 | |
| Total non-current assets | 2,310,000 | 2,310,000 | |
| TOTAL ASSETS | 2,394,606 | 2,427,544 | |
| Payables and prepayments | 3,097 | 12,435 | |
| Total current liabilities | 3,097 | 12,435 | |
| Total liabilities | 3,097 | 12,435 | |
| 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 | -821,526 | -797,926 | |
| Total equity | 2,391,509 | 2,415,109 | |
| TOTAL LIABILITIES AND EQUITY | 2,394,606 | 2,427,544 |
Condensed consolidated statement of comprehensive income
| EUR | 6 M 2016 | 6 M 2015 |
| Expenses related to investment property | -6,309 | -5,382 |
| Gross loss | -6,309 | -5,382 |
| Administrative and general expenses | -15,696 | 10,353 |
| Change in fair value of investment property | -1,600 | 0 |
| Operating loss | -23,605 | -15,735 |
| Net financial income | 5 | -2,241 |
| NET LOSS FOR THE PERIOD | -23,600 | -17,976 |
| TOTAL COMPREHENSIVE LOSS | -23,600 | -17,976 |
Joakim Helenius
Chairman of the Supervisory Board
+372 667 9200
