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Unaudited financial report for the first quarter of 2021

·2-min read

The main business activity of Trigon Property Development AS is real estate development. As at 31.03.2021, AS Trigon Property Development owned one development project with an area of 18 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.

Condensed statement of financial position as of 31 March 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 quarter of 2021 of AS Trigon Property Development is 64,668 euros and the earnings per share is 0.01437 EUR.

As of 31 March 2021 the assets of AS Trigon Property Development were 2,558,670 euros. The equity of the company was 2,556,022 euros, corresponding to 99.9 % of the total balance sheet.

Condensed statement of financial position

EUR

31.03.2021

31.12.2020

Cash

940,352

146,890

Receivables and prepayments

4,138

789

Total current assets

944,670

147,679

Investment property

1,614,000

2,350,000

Total non-current assets

1,614,000

2,350,000

TOTAL ASSETS

2,558,670

2,497,679

Payables and prepayments

2,648

6,325

Total current liabilities

2,648

6,325

Total liabilities

2,648

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

Accumulated loss

-256,596

-321,264

Total equity

2,556,022

2,491,354

TOTAL LIABILITIES AND EQUITY

2,558,670

2,497,679


Condensed statement of comprehensive income

EUR

I Q 2021

I Q 2020

Gain on sales of investment property

88,040

0

Expenses related to investment property

-1,983

-4,260

Gross profit /loss

86,057

-4,260

Administrative and general expenses

-21,408

-3,220

Operating profit /loss

64,649

-7,480

Net financial income

19

4

NET PROFIT /LOSS FOR THE PERIOD

64,668

-7,476

TOTAL COMPREHENSIVE PROFIT /LOSS

64,668

-7,476


Rando Tomingas

Member of the Management Board

+372 667 9200


Attachment


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