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Correction: Unaudited financial report for the third quarter and 9 months of 2021

·2-min read

The main business activity of Trigon Property Development AS is real estate development. As at 30.09.2021, AS Trigon Property Development owned one development project with an area of 14.29 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 first quarter of 2021 a 3.43-hectare property at the price of 824 040 (VAT not included) euros was sold.

In the second quarter of 2021 a 0.89-hectare property at the price of 205 000 (VAT not included) euros was sold.

In the third quarter of 2021 a 2.01-hectare property at the price of 604 080 (VAT not included) euros was sold.

Condensed statement of financial position as of 30 September 2021 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 profit for first 9 months of 2021 of AS Trigon Property Development is 298,307 euros and the earnings per share is 0.06630 EUR.

As of 30 September 2021 the assets of AS Trigon Property Development were 2,890,408 euros. The equity of the company was 2,389,244 euros, corresponding to 82.66 % of the total balance sheet.

Condensed statement of financial position

EUR

30.09.2021

31.12.2020

Cash

1,488,952

146,890

Receivables and prepayments

43,189

789

Total current assets

1,532,141

147,679

Investment property

1,358,267

2,350,000

Total non-current assets

1,358,267

2,350,000

TOTAL ASSETS

2,890,408

2,497,679

Payables and prepayments

501,164

6,325

Total current liabilities

501,164

6,325

Total liabilities

501,164

6,325

Share capital at book value

2,299,020

2,299,020

Share premium

226,056

226,056

Statutory reserve capital

287,542

287,542

Retained earnings /loss

1,425,740

-321,264

Total equity

2,389,244

2,491,354

TOTAL LIABILITIES AND EQUITY

2,890,408

2,497,679


Condensed statement of comprehensive income

EUR

9 M 2021

9 M 2020

Gain on sales of investment property

464,040

4,405

Expenses related to investment property

-5,983

-8,409

Gross profit /loss

458,057

-4,004

Administrative and general expenses

-59,831

-11,758

Other operating income

100

0

Operating profit /loss

398,326

-15,762

Net financial income

86

10

Profit /loss before income tax

398,411

-15,752

Income tax expense

-100,104

0

NET PROFIT /LOSS FOR THE PERIOD

298,307

-15,752

TOTAL COMPREHENSIVE PROFIT /LOSS

298,307

-15,752

Rando Tomingas

Member of the Management Board

+372 667 9200



Attachment


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