As at the end of first quarter of 2014, AS Trigon Property Development owned one property development project involving 35.46-hectare land plot in the City of Pärnu, Niidu area. Trigon Property Development AS considers expansion of business activity and analyses acquisition opportunities for different new projects.
Condensed consolidated statement of financial position as of 31 March 2014 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.
According to the condensed consolidated statement of comprehensive income the net profit for first quarter of 2014 of AS Trigon Property Development is -13,203 euros and the earnings per share is -0.00293 EUR.
As of 31 March 2014 the consolidated assets of AS Trigon Property Development were 2,332,895 euros. The consolidated equity of the company was 2,158,751 euros, corresponding to 93 % of the total balance sheet.
Condensed consolidated statement of financial position
| EUR | 31.03.2014 | 31.12.2013 | |
| Cash | 2 106 | 1 366 | |
| Receivables and prepayments | 789 | 1 013 | |
| Total current assets | 2 895 | 2 379 | |
| Investment property | 2 330 000 | 2 330 000 | |
| Total non-current assets | 2 330 000 | 2 330 000 | |
| TOTAL ASSETS | 2 332 895 | 2 332 379 | |
| Borrowings | 25 032 | 25 032 | |
| Payables and prepayments | 25 466 | 25 747 | |
| Total current liabilities | 50 498 | 50 779 | |
| Long-term borrowings | 123 646 | 109 646 | |
| Total non-current liabilities | 123 646 | 109 646 | |
| Total liabilities | 174 144 | 160 425 | |
| Share capital at nominal value | 2 699 437 | 2 699 437 | |
| Share premium | 226 056 | 226 056 | |
| Statutory reserve capital | 287 542 | 287 542 | |
| Retained earnings | -1 054 284 | -1 041 081 | |
| Total equity | 2 158 751 | 2 171 954 | |
| TOTAL LIABILITIES AND EQUITY | 2 332 895 | 2 332 379 |
Condensed consolidated statement of comprehensive income
| EUR | 1 Q 2014 | 1 Q 2013 |
| Rental income | 1 140 | 3 640 |
| Expenses related to investment property | -5 771 | -3 817 |
| Gross loss | -4 631 | -177 |
| Administrative and general expenses | -6 835 | -6 327 |
| Operating profit (-loss) | -11 466 | -6 504 |
| Net financial income | -1 737 | -917 |
| NET PROFIT (-LOSS) FOR THE PERIOD | -13 203 | -7 421 |
| TOTAL COMPREHENSIVE INCOME | -13 203 | -7 421 |
Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200
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