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Regulatory press release

Unaudited financial report for the fourth quarter and 12 months of 2023

Trigon Property Development

The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2023, AS Trigon Property Development owned one development project with an area of 12.8 hectares in the City of Pärnu, Estonia. A commercial, industrial and logistics park is planned on this area. The Company’s objective is to find companies willing to bring their business activities (industry, logistics) to the development project area of AS Trigon Property Development in Pärnu, which would add value to the land plots owned by the Company. As the main purpose of the company is to sell existing land plots, investment property was recognized as inventories.

In the first quarter of 2022, a 0.53-hectare property was sold for 213,200 euros (excluding VAT).

In the second quarter of 2022, a 1.0-hectare property was sold for 401,280 euros (excluding VAT).

In the third quarter of 2023, a 0.53-hectare transportation purpose land was sold for 26,580 euros (excluding VAT).

Condensed statement of financial position as of 31 December 2023 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the condensed statement of comprehensive income the net loss for 2023 of AS Trigon Property Development is -32,412 euros and the earnings per share is -0.00720 EUR.

As of 31 December 2023, the assets of AS Trigon Property Development were 1,708,465 euros. The equity of the company was 1,687,366 euros, corresponding to 98.77 % of the total balance sheet.

Condensed statement of financial position

EUR31.12.202331.12.2022
Cash and cash equivalents176,133199,196
Trade and other receivables1,92719,844
Inventories1,530,4051,519,536
Total current assets1,708,4651,738,576
TOTAL ASSETS1,708,4651,738,576
Trade and other payables21,09918,798
Total current liabilities21,09918,798
Total liabilities21,09918,798
Share capital at book value449,906449,906
Share premium226,056226,056
Statutory reserve capital287,542287,542
Retained earnings723,862756,274
Total equity1,687,3661,719,778
TOTAL LIABILITIES AND EQUITY1,708,4651,738,576


Condensed statement of comprehensive income

EUR12 M 202312 M 2022
Revenue26,580614,480
Costs of goods sold-5,316
-283,685
Gross profit21,264
330,795
Administrative and general expenses-55,006
-88,860
Operating profit/loss-33,742241,935
Financial income1,33065
PROFIT/LOSS FOR THE PERIOD-32,412242,000
Income tax expense0-167,749
TOTAL COMPREHENSIVE PROFIT/LOSS-32,41274,251

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: info@trigonproperty.com

Attachment

  • 2023 IV Q interim ENG

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