Trigon Property Development — Interim / Quarterly Report 2023

Aug 30, 2023

Company AS Trigon Property Development

Type Company Release

Category Half-yearly financial report

Disclosure time 30 Aug 2023 13:21:07 +0300

Attachments:

• 2023 II Q interim ENG.pdf (http://oam.fi.ee/en/download?id=7655)

• 2023 II kv vahearuanne EST.pdf (http://oam.fi.ee/en/download?id=7656)

Currency

Title

Unaudited financial report for the second quarter and 6 months of 2023

The main business activity of Trigon Property Development AS is real estate development. As at 30.06.2023, 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).

Condensed statement of financial position as of 30 June 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 first 6 months of 2023 of AS Trigon Property Development is -17,807 euros and the earnings per share is -0.00396 EUR.

As of 30 June 2023 the assets of AS Trigon Property Development were 1,702,669 euros. The equity of the company was 1,701,971 euros, corresponding to 99.96 % of the total balance sheet.

Condensed statement of financial position

Finantsinspektsioon http://www.fi.ee

+------------------------------+------------+------------+ EUR +------------------------------+------------+------------+		30.06.2023 31.12.2022
Cash and cash equivalents +------------------------------+------------+------------+	143,981	199,196
Trade and other receivables +------------------------------+------------+------------+	25,790	19,844
Inventories +------------------------------+------------+------------+	1,532,898	1,519,536
Total current assets	1,702,669	1,738,576
+------------------------------+------------+------------+ TOTAL ASSETS	1,702,669	1,738,576
+------------------------------+------------+------------+ Trade and other payables	698	18,798
+------------------------------+------------+------------+ Total current liabilities	698	18,798
+------------------------------+------------+------------+ Total liabilities +------------------------------+------------+------------+	698	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	738,467	756,274
+------------------------------+------------+------------+ Total equity	1,701,971	1,719,778
+------------------------------+------------+------------+ TOTAL LIABILITIES AND EQUITY	1,702,669	1,738,576
+------------------------------+------------+------------+

Condensed statement of comprehensive income

+-------------------------------------+----------+----------+
EUR		6 M 2023 6 M 2022
+-------------------------------------+----------+----------+ Revenue	0	614,480
+-------------------------------------+----------+----------+ Costs of goods sold		0 -259,267
+-------------------------------------+----------+----------+ Gross profit	0	355,213
+-------------------------------------+----------+----------+ Administrative and general expenses	-18,201	-40,735
+-------------------------------------+----------+----------+ Operating profit/loss	-18,201	314,478
+-------------------------------------+----------+----------+ Financial income	394	45

Finantsinspektsioon http://www.fi.ee

+-------------------------------------+----------+----------+ PROFIT/LOSS FOR THE PERIOD +-------------------------------------+----------+----------+	-17,807	314,522
Income tax expense +-------------------------------------+----------+----------+		0 -134,580
TOTAL COMPREHENSIVE PROFIT/LOSS +-------------------------------------+----------+----------+	-17,807	179,942

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