Published: 2015-02-26 12:41:29 CET
Trigon Property Development
Quarterly report

Consolidated unaudited financial report for the fourth quarter and 12 months of 2014

26.02.2015

As at the end of fourth quarter of 2014, AS Trigon Property Development owned one property development project involving 33.26-hectare land plot in the City of Pärnu, Niidu area. In 2014 an investment property at Kase 18 Pärnu was sold. 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 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 12 months of 2014 of AS Trigon Property Development is 252,476 euros and the earnings per share is 0.05612 EUR.

As of 31 December 2014 the consolidated assets of AS Trigon Property Development were 2,587,790 euros. The consolidated equity of the company was 2,424,431 euros, corresponding to 94 % of the total balance sheet.

Condensed consolidated statement of financial position

EUR 31.12.2014 31.12.2013
Cash 144 536 1 366
Receivables and prepayments 93 254 1 013
Total current assets 237 790 2 379
Investment property 2 350 000 2 330 000
Total non-current assets 2 350 000 2 330 000
TOTAL ASSETS 2 587 790 2 332 379
Borrowings 12 516 25 031
Payables and prepayments 26 293 25 747
Total current liabilities 38 809 50 778
Long-term borrowings 124 550 109 646
Total non-current liabilities 124 550 109 646
Total liabilities 163 359 160 424
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 -788 604 -1 041 080
Total equity 2 424 431 2 171 955
TOTAL LIABILITIES AND EQUITY 2 587 790 2 332 379

 

Condensed consolidated statement of comprehensive income

EUR  12 months 2014  12 months 2013
Rental income 3 420 12 329
Expenses related to investment property -13 530 -17 857
Gross profit (loss) -10 110 -5 528
Administrative and general expenses -42 761 -36 016
Changes in fair value of investment property 315 960 40 000
Operating profit (loss) 263 089 -1 544
Net financial expense -10 613 -7 328
NET PROFIT (LOSS) FOR THE PERIOD 252 476 -8 872
TOTAL COMPREHENSIVE PROFIT (LOSS) FOR THE PERIOD 252 476 -8 872

 

 

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200

 


2014 IV Q interim ENG.pdf