English Estonian
Published: 2012-05-07 15:57:32 CEST
Trigon Property Development
Annual Financial Report

Correction: audited financial results of Trigon Property Development, 2011

07.05.2012

Audited financial results of Trigon Property Development, 2011, as published 27.04.2011 mistakenly did not include Management Board's confirmation. The whole press release and annual report referred to above is published hereby again in the same wording including the Management Board's confirmation available on page 3:

As at the end of year 2011, AS Trigon Property Development owned one property development project involving 36-hectare land plot in the City of Pärnu, Niidu area. Commercial real estate will be developed on this 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 31.12.2011 and 31.12.2010 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 2011 of AS Trigon Property Development is 1 742 532 EUR and the earnings per share is -0.39 EUR.

As of 31.12.2011 the consolidated assets of AS Trigon Property Development were 2 440 010 EUR. The consolidated equity of the company was 2 164 025 EUR, corresponding to 88.69 % of the total balance sheet.

Condensed consolidated statement of financial position

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 4 167 039
     
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 226 056 226 056
Statutory reserve capital 287 542 287 542
Retained earnings (1 049 010) 517 535
Total equity 2 164 025 39 06 557
     
TOTAL LIABILITIES AND EQUITY 2 440 010 4 175 656

 

Condensed consolidated statement of comprehensive income

EUR 2011 2010
     
Rental income 22 480 27 290
Expenses related to investment property (14 479) (24 874)
     
Gross loss (profit) 8 001 2 416
     
Administrative and general expenses (26 689) (16 260)
Change in fair value of investment property (1 712 039) 0
     
Operating loss (1 730 727) (13 844)
     
Net financial income (11 805) (11 288)
     
NET LOSS FOR THE PERIOD (1 742 532) (25 132)
     
TOTAL COMPREHENSIVE INCOME (1 742 532) (25 132)
     
Basic earnings per share (0,39) (0,01)
Diluted earnings per share (0,39) (0,01)

 

    

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200


TPD 2011 eng.pdf