Published: 2012-02-29 13:23:09 CET
Trigon Property Development
Quarterly report

TPD: Unaudited Financial results of Trigon Property Development, 12 months of 2011

29.02.2012

 

As at the end of fourth quarter 2011, AS Trigon Property Development owned one property development project involving 36-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 December 2011 and 31 December 2010 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 loss for 12 months 2011 of AS Trigon Property Development is 1 742 532 euros and the earnings per share is -0,38731 EUR. 

As of 31 December 2011 the consolidated assets of AS Trigon Property Development were 2 440 010 euros. The consolidated equity of the company was 2 164 025 euros, corresponding to 88,69 % of the total balance sheet. 

Condensed consolidated statement of financial position 

  EUR EUR
  31.12.2011 31.12.2010
Cash 12 492 7 804
Receivables and prepayments 2 518 812
Total current assets 15 010 8 616
     
Investment property 2 425 000 4 167 039
Total non-current assets 2 425 000 4 137 039
     
TOTAL ASSETS 2 440 010 4 175 656
     
Borrowings 25 032 31 806
Payables and prepayments 55 244 16 553
Total current liabilities 80 276 48 359
     
Long-term borrowings 195 709 220 740
Total non-current liabilities 195 709 220 740
     
Total liabilities 275 985 269 099
     
Share capital at nominal value 2 699 437 2 875 424
Share premium 402 043 226 056
Statutory reserve capital 287 542 287 542
Retained earnings (1 224 997) 517 535
Total equity 2 164 025 3 906 557
     
TOTAL LIABILITIES AND EQUITY 2 440 010 4 175 656

 

Condensed consolidated statement of comprehensive income 

  EUR EUR
  12 months 2011 12 months 2010
     
Rental income 22 480 27 290
Expenses related to investment property (14 479) (24 874)
     
Gross profit 8 001 2 416
     
Administrative and general expenses (26 689) (16 260)
Changes in fair value of investment property (1 712 039) 0
     
Operating profit (1 730 727) (13 844)
     
Net financial income (loss) (11 805) (11 288)
     
NET PROFIT (LOSS) FOR THE PERIOD (1 742 532) (25 132)
     
TOTAL COMPREHENSIVE INCOME (LOSS) (1 742 532) (25 132)
     
Basic earnings per share (0,38731) (0,00559)
Diluted earnings per share (0,38731) (0,00559)

 

 

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200

 


2011 IV Q interim report ENG.pdf