Published: 2012-05-31 11:06:39 CEST
Trigon Property Development
Quarterly report

Unaudited Financial results of Trigon Property Development, 3 months of 2012

31.05.2012

As at the end of first quarter 2012, 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 March 2012 and 31 March 2011 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 3 months 2012 of AS Trigon Property Development is 7 274 euros and the earnings per share is -0,00162 EUR.

As of 31 March 2012 the consolidated assets of AS Trigon Property Development were 2 434 845 euros. The consolidated equity of the company was 2 156 751 euros, corresponding to 88,58 % of the total balance sheet.

Condensed consolidated statement of financial position

EUR 31.03.2012 31.03.2011
Cash 2 299 20 085
Receivables and prepayments 7 546 1 183
Total current assets 9 845 21 268
Investment property 2 425 000 4 167 039
Total non-current assets 2 425 000 4 167 039
TOTAL ASSETS 2 434 845 4 188 307
Borrowings 25 032 25 031
Payables and prepayments 53 984 44 411
Total current liabilities 79 016 69 442
Long-term borrowings 199 078 220 740
Total non-current liabilities 199 078 220 740
Total liabilities 278 094 290 182
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 (1 056 284) 509 103
Total equity 2 156 751 3 898 125
TOTAL LIABILITIES AND EQUITY 2 434 845 4 188 307

 

Condensed consolidated statement of comprehensive income

EUR 3 months 2012 3 months 2011
     
Rental income 4 740 6 180
Expenses related to investment property (1 405) (9 351)
Gross profit 3 335 (3 171)
     
Administrative and general expenses (8 240) (2 965)
Operating profit (4 905) (6 136)
     
Net financial income (loss) (2 369) (2 296)
NET LOSS FOR THE PERIOD (7 274) (8 432)
     
TOTAL COMPREHENSIVE LOSS (7 274) (8 432)
     
Basic earnings per share (0,00162) (0,00187)
Diluted earnings per share (0,00162) (0,00187)

    

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200


2012 I Q interim report ENG.pdf