Trigon Property Development — Interim / Quarterly Report 2022

Nov 30, 2022

Company AS Trigon Property Development

Type Company Release

Category Management interim statement or quaterly financial report

Disclosure time 30 Nov 2022 15:58:51 +0200

Attachments:

• 2022 III Q interim ENG.pdf (http://oam.fi.ee/en/download?id=6928)

• 2022 III kv vahearuanne EST.pdf (http://oam.fi.ee/en/download?id=6929)

Currency

Unaudited financial report for the third quarter and 9 months of 2022 Title

The main business activity of Trigon Property Development AS is real estate development. As at 30.09.2022, 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 2021, a 3.43-hectare property was sold for 824,040 euros (excluding VAT).

In the second quarter of 2021, a 0.89-hectare property was sold for 205,000 euros (excluding VAT).

In the third quarter of 2021, a 2.01-hectare property was sold for 604,080 euros (excluding VAT).

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).

Condensed statement of financial position as of 30 September 2022 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

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first 9 months of 2022 of AS Trigon Property Development is 128,097 euros and the earnings per share is 0.02847 EUR.

As of 30 September 2022 the assets of AS Trigon Property Development were 1,957,912 euros. The equity of the company was 1,773,623 euros, corresponding to 90.59 % of the total balance sheet.

Condensed statement of financial position

+------------------------------+------------+------------+ EUR		30.09.2022 31.12.2021
+------------------------------+------------+------------+ Cash and cash equivalents	456,095	938,858
+------------------------------+------------+------------+ Trade and other receivables	19,083	166,825
+------------------------------+------------+------------+ Inventories	1,482,734	1,452,989
+------------------------------+------------+------------+ Total current assets	1,957,912	2,558,672
+------------------------------+------------+------------+ TOTAL ASSETS	1,957,912	2,558,672
+------------------------------+------------+------------+ Trade and other payables	184,288	195,593
+------------------------------+------------+------------+ Total current liabilities	184,288	195,593
+------------------------------+------------+------------+ Total liabilities	184,288	195,593
+------------------------------+------------+------------+ Share capital at book value	449,906	449,906
+------------------------------+------------+------------+ Share premium	226,056	226,056
+------------------------------+------------+------------+ Statutory reserve capital	287,542	287,542
+------------------------------+------------+------------+ Retained earnings	810,119	1,399,575
+------------------------------+------------+------------+ Total equity	1,773,623	2,363,079
+------------------------------+------------+------------+ TOTAL LIABILITIES AND EQUITY +------------------------------+------------+------------+	1,957,912	2,558,672

Condensed statement of comprehensive income

+----------------------------------------------+----------+----------+ EUR		9 M 2022 9 M 2021
+----------------------------------------------+----------+----------+ Revenue +----------------------------------------------+----------+----------+	614,480	809,080

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Costs of goods sold +----------------------------------------------+----------+----------+		-259,267 -433,080
Gross profit +----------------------------------------------+----------+----------+	355,213	376,000
Administrative and general expenses +----------------------------------------------+----------+----------+	-59,424	-65,814
Changes in fair value of investment property +----------------------------------------------+----------+----------+	0	88,040
Other operating income +----------------------------------------------+----------+----------+	0	100
Operating profit +----------------------------------------------+----------+----------+	295,789	398,326
Financial income +----------------------------------------------+----------+----------+	57	86
PROFIT BEFORE INCOME TAX +----------------------------------------------+----------+----------+	295,846	398,411
Income tax expense +----------------------------------------------+----------+----------+		-167,749 -100,104
TOTAL COMPREHENSIVE PROFIT +----------------------------------------------+----------+----------+	128,097	298,307

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: info@trigonproperty.com

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