Unaudited financial report for the fourth quarter and 12 months 2020
The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2020, 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 31 December 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 profit for 2020 of AS Trigon Property Development is 347,893 euros and the earnings per share is 0.07733 EUR.
As of 31 December 2020 the assets of AS Trigon Property Development were 2,497,679 euros. The equity of the company was 2,491,354 euros, corresponding to 99.75 % of the total balance sheet.
Condensed statement of financial position
| EUR | 31.12.2020 | 31.12.2019 |
| Cash | 146,890 | 150,007 |
| Receivables and prepayments | 789 | 7,381 |
| Total current assets | 147,679 | 157,388 |
| Investment property | 2,350,000 | 2,036,000 |
| Total non-current assets | 2,350,000 | 2,036,000 |
| TOTAL ASSETS | 2,497,679 | 2,193,388 |
| Payables and prepayments | 6,325 | 49,927 |
| Total current liabilities | 6,325 | 49,927 |
| Total liabilities | 6,325 | 49,927 |
| Share capital at book value | 2,299,020 | 2,299,020 |
| Share premium | 226,056 | 226,056 |
| Statutory reserve capital | 287,542 | 287,542 |
| Accumulated loss | -321,264 | -699,157 |
| Total equity | 2,491,354 | 2,143,461 |
| TOTAL LIABILITIES AND EQUITY | 2,497,679 | 2,193,388 |
Condensed statement of comprehensive income
| EUR | 12 M 2020 | 12 M 2019 |
| Gain on sales of investment | 4,406 | 0 |
| Expenses related to investment property | -10,544 | -11,621 |
| Gross loss | - 6,139 | -11,621 |
| Administrative and general expenses | -20,576 | -23,501 |
| Changes in fair value of investment property | 374,594 | 389,526 |
| Operating profit | 347,879 | 354,404 |
| Net financial income | 14 | 8 |
| NET PROFIT FOR THE PERIOD | 347,893 | 354,412 |
| TOTAL COMPREHENSIVE PROFIT | 347,893 | 354,412 |
Rando Tomingas
Member of the Management Board
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