20.02.2025 15:13:13

Unaudited financial report for the fourth quarter and 12 months of 2024

The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2024, AS Trigon Property Development owned one development project with an area of 13.4 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 third quarter of 2023, a 0.53-hectare transportation purpose land was sold for 26,580 euros (excluding VAT).

In the third quarter of 2024, a 0.09-hectare transportation purpose land was sold for 31,920 euros (excluding VAT).

In the fourth quarter of 2024, a 0.70-hectare property was sold for 300,000 euros (excluding VAT).

Condensed statement of financial position as of 31 December 2024 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 profit for 2024 of AS Trigon Property Development is 167,409 euros and the earnings per share is 0.03721 EUR.

As of 31 December 2024 the assets of AS Trigon Property Development were 1,875,897 euros. The equity of the company was 1,854,774 euros, corresponding to 99.87 % of the total balance sheet.

Condensed statement of financial position

EUR31.12.202431.12.2023
Cash and cash equivalents370,856176,133
Trade and other receivables33,8031,927
Inventories1,471,2381,530,405
Total current assets1,875,8971,708,465
TOTAL ASSETS1,875,8971,708,465
Trade and other payables21,12321,099
Total current liabilities21,12321,099
Total liabilities21,12321,099
Share capital at book value449,906449,906
Share premium226,056226,056
Statutory reserve capital287,542287,542
Retained earnings891,270723,862
Total equity1,854,7741,687,366
TOTAL LIABILITIES AND EQUITY1,875,8971,708,465


Condensed statement of comprehensive income

EUR12 M 202412 M 2023
Revenue331,92026,580
Costs of goods sold-111,621-5,316
Gross profit220,299
21,264
Administrative and general expenses-63,650-55,006
Other operating income5,0000
Operating profit/loss161,649
-33,742
Financial income5,760
1,330
NET PROFIT/LOSS FOR THE PERIOD167,409
-32,412
TOTAL COMPREHENSIVE PROFIT/LOSS FOR THE PERIOD167,409
-32,412

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: info@trigonproperty.com

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