Published: 2011-05-02 15:45:00 CEST
Trigon Property Development
Annual Financial Report

TPD: audited financial results of Trigon Property Development, 2010

                                                                                                                                                    02.05.2011

As at the end of year 2010, AS Trigon Property Development owned one property development project involving 36-hectare land plot in the City of Pärnu, Niidu area. AS Trigon Property Development considers expansion of business activity and analyses acquisition opportunities for different new projects.

The condensed consolidated statement of financial position as of 31.12.2010 and 31.12.2009 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the presented condensed consolidated statement of comprehensive income the net loss for year 2010 of AS Trigon Property Development is 393 thousand EEK / 25 thousand EUR and the earnings per share is –0.09 EEK / -0.01 EUR.

As of 31.12.2010 the consolidated assets of AS Trigon Property Development were 65 335 thousand EEK / 4 176 thousand EUR. The consolidated equity of the company was 61 124 thousand EEK / 3 906 thousand EUR, corresponding to 93.55 % of the total balance sheet.

Condensed consolidated statement of financial position

  EEK thous EEK thous EUR thous EUR thous
  31.12.2010 31.12.2009 31.12.2010 31.12.2009
Cash 122 71 8 5
Receivables and prepayments 13 190 1 12
Total current assets 135 261 9 17
         
Investment property 65 200 65 200 4 167 4 167
Total non-current assets 65 200 65 200 4 167 4 167
         
TOTAL ASSETS 65 335 65 461 4 176 4 184
         
Borrowings 498 2 071 32 132
Payables and prepayments 259 111 17 7
Total current liabilities 757 2 182 49 139
         
Long-term borrowings 3 454 1 762 221 113
Total non-current liabilities 3 454 1 762 221 113
         
Total liabilities 4 211 3 944 270 252
         
Share capital at nominal value 44 991 44 991 2 875 2 875
Share premium 3 537 3 537 226 226
Statutory reserve capital 4 499 4 499 288 288
Retained earnings 8 097 8 490 517 543
Total equity 61 124 61 517 3 906 3 932
         
TOTAL LIABILITIES AND EQUITY 65 335 65 461 4 176 4 184

Condensed consolidated statement of comprehensive income

  EEK thous EEK thous EUR thous EUR thous
  2010 2009 2010 2009
         
Rental income 427 625 27 40
Expenses related to investment property (389) (798) (25) (51)
         
Gross loss (profit) 38 (173) 2 (11)
         
Administrative and general expenses (254) (260) (16) (16)
Change in fair value of investment property 0 (59 080) 0 (3 776)
         
Operating loss (216) (59 513) (14) (3 803)
         
Net financial income (177) (109) (11) (7)
         
NET LOSS FOR THE PERIOD (393) (59 622) (25) (3 810)
         
TOTAL COMPREHENSIVE INCOME (393) (59 622) (25) (3 810)
         
Basic earnings per share (0,09) (13,25) (0,01) (0,85)
Diluted earnings per share (0,09) (13,25) (0,01) (0,85)

 

 

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200


2010 TPD eng.pdf