Trigon Property Development — Earnings Release 2023

Feb 28, 2024

Company AS Trigon Property Development

Type

Company Release

Category Other corporate action

Disclosure time 28 Feb 2024 11:29:17 +0200

Attachments:

• 2023 IV Q interim ENG.pdf (http://oam.fi.ee/en/download?id=8100)

• 2023 IV kv vahearuanne EST.pdf (http://oam.fi.ee/en/download?id=8101)

Currency

Title

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.

Finantsinspektsioon http://www.fi.ee

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

Finantsinspektsioon http://www.fi.ee

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

(https://www.globenewswire.com/Tracker?data=wN3CV2cKvFbAUqTMJhguW6xmQnZ9FFUMQYs0 Y995BjR35jvRI3HcEIvwUy79C-8m3TTBDm0qWTZBQzRYEQuxbj5zKP9-fPiY0adYVuhKnQk=)

Finantsinspektsioon http://www.fi.ee