Trigon Property Development Reports Strong 2024 Financial Results
Overview of Trigon Property Development's Business Activities
Trigon Property Development AS focuses on real estate development and has grown significantly over recent years. By the end of 2024, the company owned a substantial 13.4-hectare development project in an optimal location. The proposed site is set to be transformed into a commercial, industrial, and logistics park. This strategic development aims at attracting businesses involved in industry and logistics, ultimately enhancing the value of the land plots owned by the company.
Sales Performance Highlights
In the past year, Trigon has seen encouraging sales figures that reflect the company’s thriving market presence. Notably, in the third quarter of 2023, a 0.53-hectare land parcel dedicated to transportation was successfully sold for 26,580 euros, excluding VAT. Building on this momentum, in the third quarter of 2024, a slightly smaller 0.09-hectare segment sold for 31,920 euros, indicating an upward trend in value.
Moreover, the fourth quarter of 2024 proved to be exceptional, with the sale of a 0.70-hectare property fetching an impressive 300,000 euros, excluding VAT. This sale alone significantly contributes to the robust financial state of Trigon Property Development.
Financial Position at Year-End
The condensed statement of financial position as of December 31, 2024, presented by the company reveals a solid balance between assets and equity. The total assets reached an impressive 1,875,897 euros. Equity stood at 1,854,774 euros, demonstrating a remarkable 99.87% of the total balance sheet, confirming the company’s financial stability.
Year-End Profitability
Trigon Property Development demonstrated a net profit of 167,409 euros for 2024 and an earnings per share of 0.03721 EUR. These results reflect the effective management of resources and assets through strategic sales and land development initiatives.
Current Assets Growth
The company’s current assets have significantly increased, primarily due to successful land sales and efficient management of cash reserves. Cash and cash equivalents rose to 370,856 euros by the end of 2024, up from 176,133 euros in the previous year. Trade and other receivables also grew to 33,803 euros, further solidifying the company's financial footing.
Transition to Investment Properties
One strategic policy change has been the classification of investment property. Recognizing the primary goal of the company as selling existing land plots, Trigon has now categorized these properties as inventories. This change in policy could signal future growth and expansion opportunities for the company, as it seeks to enhance its portfolio and attract more business investments.
Diligent Management and Future Outlook
In conclusion, Trigon Property Development AS has successfully leveraged its assets and real estate capabilities to produce commendable financial results for 2024. The management team’s focus on developing strategic plans for existing land plots not only bolsters its current operations but sets a promising foundation for future growth.
For further insight into the company’s ongoing projects and future announcements, interested parties may reach out to management directly.
Contact Person:
Rando Tomingas, Member of the Management Board
Telephone: +372 667 9200
E-mail: info@trigonproperty.com
Frequently Asked Questions
1. What is the main business focus of Trigon Property Development AS?
The primary focus of Trigon Property Development AS is real estate development, particularly in creating commercial and industrial facilities.
2. How much profit did Trigon report in 2024?
Trigon reported a net profit of 167,409 euros for the year 2024.
3. Where is Trigon Property Development's key development project located?
The key development project is situated on a 13.4-hectare site in Pärnu, planned for a commercial and logistics park.
4. What recent sales contributed to Trigon's revenue growth?
Recent sales, including a 0.70-hectare property sold for 300,000 euros, contributed significantly to the revenue growth of Trigon.
5. Who can I contact for more information about Trigon's operations?
For more information, you may contact Rando Tomingas, Member of the Management Board, via telephone at +372 667 9200 or email at info@trigonproperty.com.
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