Published: 2014-02-26 16:14:13 CET
Trigon Property Development
Quarterly report

Consolidated unaudited financial report for the fourth quarter and 12 months of 2013

As at the end of fourth quarter 2013, AS Trigon Property Development owned one property development project involving 35.46-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 2013 and 31 December 2012 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 profit for 12 months of 2013 of AS Trigon Property Development is -8,872 euros and the earnings per share is -0,00197 EUR.

As of 31 December 2013 the consolidated assets of AS Trigon Property Development were 2,332,379 euros. The consolidated equity of the company was 2,171,954 euros, corresponding to 93 % of the total balance sheet.

Condensed consolidated statement of financial position

   

EUR   31.12.2013 31.12.2012
Cash   1 366 26 868
Receivables and prepayments   1 013 2 918
Total current assets   2 379 29 786
Investment property   2 330 000 2 290 000
TOTAL ASSETS   2 332 379 2 319 786
Borrowings   25 032 25 032
Payables and prepayments   25 747 23 250
Total current liabilities   50 779 48 282
Long-term borrowings   109 646 90 677
Total liabilities   160 425 138 959
       
Share capital at nominal value   2 699 437 2 699 437
Share premium   226 056 226 056
Statutory reserve capital   287 542 287 542
Retained earnings   -1 041 081 -1 032 208
Total equity   2 171 954 2 180 827
TOTAL LIABILITIES AND EQUITY   2 332 379 2 319 786

  
  

Condensed consolidated statement of comprehensive income

   

EUR 4 Q 2013 4 Q 2012 2013 2012
Rental income 1 409 4 373 12 329 18 213
Expenses related to investment property -7 269 -9 753 -17 857 -20 096
Gross profit (-loss) -5 860 -5 380 -5 528 -1 883
Administrative and general expenses -13 430 -15 516 -36 016 -47 194
Changes in fair value of investment property 40 000 -94 520 40 000 76 000
Operating profit (-loss) 20 710 -115 416 -1 544 26 923
Net financial income -2 817 -2 571 -7 328 -10 121
NET PROFIT (-LOSS) FOR THE PERIOD 17 893 -117 987 -8 872 16 802
         
TOTAL COMPREHENSIVE INCOME 17 893 -117 987 -8 872 16 802

  

 

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200

 


2013 IV Q interim ENG.pdf