Unaudited financial report for the fourth quarter and 12 months of 2023

The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2023, AS Trigon Property Development owned one development project with an area of 12.8 hectares in the City of Pärnu, Estonia. A commercial, industrial and logistics park is planned 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. As the main purpose of the company is to sell existing land plots, investment property was recognized as inventories.

In the first quarter of 2022, a 0.53-hectare property was sold for 213,200 euros (excluding VAT).

In the second quarter of 2022, a 1.0-hectare property was sold for 401,280 euros (excluding VAT).

In the third quarter of 2023, a 0.53-hectare transportation purpose land was sold for 26,580 euros (excluding VAT).

Condensed statement of financial position as of 31 December 2023 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 2023 of AS Trigon Property Development is -32,412 euros and the earnings per share is -0.00720 EUR.

As of 31 December 2023, the assets of AS Trigon Property Development were 1,708,465 euros. The equity of the company was 1,687,366 euros, corresponding to 98.77 % of the total balance sheet.

Condensed statement of financial position

EUR 31.12.2023 31.12.2022
Cash and cash equivalents 176,133 199,196
Trade and other receivables 1,927 19,844
Inventories 1,530,405 1,519,536
Total current assets 1,708,465 1,738,576
TOTAL ASSETS 1,708,465 1,738,576
Trade and other payables 21,099 18,798
Total current liabilities 21,099 18,798
Total liabilities 21,099 18,798
Share capital at book value 449,906 449,906
Share premium 226,056 226,056
Statutory reserve capital 287,542 287,542
Retained earnings 723,862 756,274
Total equity 1,687,366 1,719,778
TOTAL LIABILITIES AND EQUITY 1,708,465 1,738,576


Condensed statement of comprehensive income

EUR 12 M 2023 12 M 2022
Revenue 26,580 614,480
Costs of goods sold -5,316
 -283,685
Gross profit 21,264
 330,795
Administrative and general expenses -55,006
 -88,860
Operating profit/loss -33,742 241,935
Financial income 1,330 65
PROFIT/LOSS FOR THE PERIOD -32,412 242,000
Income tax expense 0 -167,749
TOTAL COMPREHENSIVE PROFIT/LOSS -32,412 74,251

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: info@trigonproperty.com

Attachment

  • 2023 IV Q interim ENG

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