Trigon Property Development — Interim / Quarterly Report 2023

May 31, 2023

Company AS Trigon Property Development

Type

Company Release

Category Other corporate action

Disclosure time 31 May 2023 15:22:04 +0300

Attachments:

• 2023 I Q interim ENG.pdf (http://oam.fi.ee/en/download?id=7490)

• 2023 I kv vahearuanne EST.pdf (http://oam.fi.ee/en/download?id=7491)

Currency

Title

Unaudited financial report for the first quarter of 2023

The main business activity of Trigon Property Development AS is real estate development. As at 31.03.2023, 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 31 March 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 quarter of 2023 of AS Trigon Property Development is -8,868 euros and the earnings per share is -0.00197 EUR.

As of 31 March 2023 the assets of AS Trigon Property Development were 1,719,544 euros. The equity of the company was 1,710,910 euros, corresponding to 99.50 % of the total balance sheet.

Condensed statement of financial position

Finantsinspektsioon http://www.fi.ee

+------------------------------+------------+------------+ EUR +------------------------------+------------+------------+		31.03.2023 31.12.2022
Cash and cash equivalents +------------------------------+------------+------------+	163,952	199,196
Trade and other receivables +------------------------------+------------+------------+	23,352	19,844
Inventories +------------------------------+------------+------------+	1,532,240	1,519,536
Total current assets	1,719,544	1,738,576
+------------------------------+------------+------------+ TOTAL ASSETS	1,719,544	1,738,576
+------------------------------+------------+------------+ Trade and other payables	8,634	18,798
+------------------------------+------------+------------+ Total current liabilities +------------------------------+------------+------------+	8,634	18,798
Total liabilities +------------------------------+------------+------------+	8,634	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	747,405	756,274
+------------------------------+------------+------------+ Total equity	1,710,910	1,719,778
+------------------------------+------------+------------+ TOTAL LIABILITIES AND EQUITY	1,719,544	1,738,576
+------------------------------+------------+------------+

Condensed statement of comprehensive income

+-------------------------------------+----------+----------+ EUR		I Q 2023 I Q 2022
+-------------------------------------+----------+----------+ Revenue +-------------------------------------+----------+----------+	0	213,200
Costs of goods sold +-------------------------------------+----------+----------+	0	-83,830
Gross profit	0	129,370
+-------------------------------------+----------+----------+ Administrative and general expenses	-8,939	-20,487
+-------------------------------------+----------+----------+ Operating profit/loss	-8,939	108,883
+-------------------------------------+----------+----------+ Financial income +-------------------------------------+----------+----------+	70	25

Finantsinspektsioon http://www.fi.ee

PROFIT/LOSS FOR THE PERIOD +-------------------------------------+----------+----------+	-8,868	108,908
TOTAL COMPREHENSIVE PROFIT/LOSS +-------------------------------------+----------+----------+	-8,868	108,908

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