As at the end of second quarter 2009, AS Trigon Property Development owned one property development project involving 40-hectare land plot in the City of Pärnu, Niidu area. The balance sheet as of 30.06.2009 and 31.12.2008 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development. According to the presented income statement the net loss for 6 months 2009 of AS Trigon Property Development is 435 thousand EEK and the earnings per share is -0.10 EEK. As of 30.06.2009 the consolidated assets of AS Trigon Property Development was EEK 124 531 thousand. The consolidated equity of the company was EEK 121 207 thousand, corresponding to 96.93 % of the total balance sheet. Ülo Adamson Chairman of the Supervisory Board Investor Relations +372 51 39 424 Condensed consolidated balance sheet -------------------------------------------------------------------------------- | | EEK thous | EEK thous | EUR thous | EUR thous | -------------------------------------------------------------------------------- | | 30.06.200 | 31.12.2008 | 30.06.2009 | 31.12.2008 | | | 9 | | | | -------------------------------------------------------------------------------- | Cash | 31 | 69 | 2 | 4 | -------------------------------------------------------------------------------- | Receivables and | 220 | 125 | 14 | 8 | | prepayments | | | | | -------------------------------------------------------------------------------- | Total current assets | 251 | 194 | 16 | 12 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Investment property | 124 280 | 124 280 | 7 943 | 7 943 | -------------------------------------------------------------------------------- | Total non-current | 124 280 | 124 280 | 7 943 | 7 943 | | assets | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 124 531 | 124 474 | 7 959 | 7 955 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Borrowings | 1 030 | 1 026 | 66 | 66 | -------------------------------------------------------------------------------- | Payables and | 643 | 155 | 41 | 10 | | prepayments | | | | | -------------------------------------------------------------------------------- | Total current | 1 673 | 1 181 | 107 | 76 | | liabilities | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Long-term borrowings | 2 154 | 2 154 | 138 | 138 | -------------------------------------------------------------------------------- | Total non-current | 2 154 | 2 154 | 138 | 138 | | liabilities | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Total liabilities | 3 827 | 3 335 | 245 | 214 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Share capital at | 44 991 | 44 991 | 2 875 | 2 875 | | nominal value | | | | | -------------------------------------------------------------------------------- | Share premium | 3 537 | 3 537 | 226 | 226 | -------------------------------------------------------------------------------- | Statutory reserve | 4 499 | 4 499 | 288 | 288 | | capital | | | | | -------------------------------------------------------------------------------- | Retained earnings | 67 677 | 68 112 | 4 325 | 4 352 | -------------------------------------------------------------------------------- | Total equity | 120 704 | 121 139 | 7 714 | 7741 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES | 124 531 | 124 474 | 7 959 | 7 955 | | AND EQUITY | | | | | -------------------------------------------------------------------------------- Condensed consolidated income statement -------------------------------------------------------------------------------- | | EEK thous | EEK thous | EUR thous | EUR thous | -------------------------------------------------------------------------------- | | 6 months | 6 months | 6 months | 6 months | | | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Rental income | 310 | 234 | 20 | 15 | -------------------------------------------------------------------------------- | Expenses related to | (619) | (90) | (39) | (6) | | investment property | | | | | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Gross loss (profit) | (309) | 144 | (19) | 9 | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Administrative and | (86) | (124) | (5) | (8) | | general expenses | | | | | -------------------------------------------------------------------------------- | Change in value of | 0 | (6 462) | 0 | (413) | | investment property | | | | | -------------------------------------------------------------------------------- | Other income | 0 | 226 | 0 | 14 | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Operating loss | (395) | (6 216) | (24) | (398) | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Net financial income | (40) | (20) | (3) | (1) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | NET LOSS FOR THE | (435) | (6 236) | (27) | (399) | | PERIOD | | | | | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Basic earnings per | (0.10) | (1.39) | (0.01) | (0.09) | | share | | | | | -------------------------------------------------------------------------------- | Diluted earnings per | (0.10) | (1.39) | (0.01) | (0.09) | | share | | | | | --------------------------------------------------------------------------------
Unaudited Financial results of AS Trigon Property Development, 6 months of 2009
| Quelle: Trigon Property Development
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