Published: 2014-08-29 13:03:48 CEST
Trigon Property Development
Quarterly report

Consolidated unaudited financial report for the second quarter and first 6 months of 2014

As at the end of second quarter of 2014, 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 30 June 2014 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 the first six months of 2014 of AS Trigon Property Development is -22,383 euros and the earnings per share is -0.00498 EUR. 

As of 30 June 2014 the consolidated assets of AS Trigon Property Development were 2,332,173 euros. The consolidated equity of the company was 2,149,571 euros, corresponding to 92 % of the total balance sheet. 

Condensed consolidated statement of financial position 

EUR 30.06.2014 31.12.2013
Cash 1 533 1 366
Receivables and prepayments 640 1 013
Total current assets 2 173 2 379
Investment property 2 330 000 2 330 000
Total non-current assets 2 330 000 2 330 000
TOTAL ASSETS 2 332 173 2 332 379
Borrowings 12 516 25 032
Payables and prepayments 25 240 25 747
Total current liabilities 37 756 50 779
Long-term borrowings 144 846 109 646
Total non-current liabilities 144 846 109 646
Total liabilities 182 602 160 425
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 -1 063 464 -1 041 081
Total equity 2 149 571 2 171 954
TOTAL LIABILITIES AND EQUITY 2 332 173 2 332 379

 

Condensed consolidated statement of comprehensive income 

EUR  6 months 2014  6 months 2013
Rental income 2 280 7 280
Expenses related to investment property -5 771 -9 588
Gross loss -3 491 -2 308
Administrative and general expenses -13 794 -15 435
Operating profit (-loss) -17 285 -17 743
Net financial expenses -5 098 -3 229
NET LOSS FOR THE PERIOD -22 383 -20 972
TOTAL COMPREHENSIVE INCOME -22 383 -20 972

 

    

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200

 


2014 II Q interim ENG.pdf