Trigon Property Development — Earnings Release 2020

Feb 26, 2021

Company AS Trigon Property Development

Type Company Release

Category Management interim statement or quaterly financial report

Disclosure time 26 Feb 2021 11:48:07 +0200

Attachments:

• 2020 IV Q interim ENG.pdf (http://oam.fi.ee/en/download?id=5231)

• 2020 IV kv vahearuanne EST.pdf (http://oam.fi.ee/en/download?id=5232)

Currency

Title

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

Finantsinspektsioon http://www.fi.ee

+------------------------------+------------+------------+ 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

Finantsinspektsioon http://www.fi.ee

NET PROFIT FOR THE PERIOD +----------------------------------------------+-----------+-----------+	347,893	354,412
TOTAL COMPREHENSIVE PROFIT +----------------------------------------------+-----------+-----------+	347,893	354,412

Rando Tomingas

Member of the Management Board +372 667 9200

Finantsinspektsioon http://www.fi.ee