Unaudited financial report for the third quarter and 9 months of 2020

Tallinn, ESTONIA


The main business activity of Trigon Property Development AS is real estate development. As at 30.09.2020, AS Trigon Property Development owned one development project with an area of 21 hectares in the City of Pärnu, Estonia. An industrial and logistics park is planned to be developed on this area. The Company’s objective is to find companies willing to bring their business activities (industry, logistics) to the development project area of AS Trigon Property Development in Pärnu, which would add value to the land plots owned by the Company.

In the second quarter of 2020 a 0.7-hectare property at the price of 65 000 euros was sold.

Condensed statement of financial position as of 30 September 2020 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the condensed statement of comprehensive income the net loss for first 9 months of 2020 of AS Trigon Property Development is -15,752 euros and the earnings per share  is -0.00350 EUR.

As of 30 September 2020 the assets of AS Trigon Property Development were 2,130,377 euros. The equity of the company was 2,127,709 euros, corresponding to 99.87 % of the total balance sheet.

Condensed statement of financial position

EUR30.09.202031.12.2019
Cash151,904150,007
Receivables and prepayments3,0677,381
Total current assets154,971157,388
Investment property1,975,4062,036,000
Total non-current assets1,975,4062,036,000
TOTAL ASSETS2,130,3772,193,388
Payables and prepayments2,66849,927
Total current liabilities2,66849,927
Total liabilities2,66849,927
Share capital at book value2,299,0202,299,020
Share premium226,056226,056
Statutory reserve capital287,542287,542
Accumulated loss-684,909-699,157
Total equity2,127,7092,143,461
TOTAL LIABILITIES AND EQUITY2,130,3772,193,388

Condensed statement of comprehensive income

EUR9 M 20209 M 2019
Gain on sales of investment4,4050
Expenses related to investment property-8,409-9,466
Gross loss-4,004-9,466
Administrative and general expenses-11,758-13,701
Operating loss-15,762-23,167
Net financial income105
NET LOSS FOR THE PERIOD-15,752-23,162
TOTAL COMPREHENSIVE LOSS-15,752-23,162

Rando Tomingas
Member of the Management Board 
+372 667 9200

Attachment



Attachments

2020 III Q interim ENG