110 0 Kommentare Unaudited financial report for the second quarter and 6 months of 2020

The main business activity of Trigon Property Development AS is real estate development. As at 30.06.2020, AS Trigon Property Development owned one development project with an area of 21 hectares in the City of Pärnu, Estonia. An industrial and logistics park is planned to be developed 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.

In the second quarter of 2020 a 0.7-hectare property at the price of 65 000 euros was sold.

Condensed statement of financial position as of 30 June 2020 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 first 6 months of 2020 of AS Trigon Property Development is -10,569 euros and the earnings per share is -0.00235 EUR.

As of 30 June 2020 the assets of AS Trigon Property Development were 2,133,350 euros. The equity of the company was 2,132,892 euros, corresponding to 99.98 % of the total balance sheet.

Condensed statement of financial position

EUR	30.06.2020	31.12.2019
Cash	155,438	150,007
Receivables and prepayments	2,506	7,381
Total current assets	157,944	157,388
Investment property	1,975,406	2,036,000
Total non-current assets	1,975,406	2,036,000
TOTAL ASSETS	2,133,350	2,193,388
Payables and prepayments	458	49,927
Total current liabilities	458	49,927
Total liabilities	458	49,927
Share capital at book value	2,299,020	2,299,020
Share premium	226,056	226,056
Statutory reserve capital	287,542	287,542
Accumulated loss	-679,726	-699,157
Total equity	2,132,892	2,143,461
TOTAL LIABILITIES AND EQUITY	2,133,350	2,193,388

Condensed statement of comprehensive income

EUR	6 M 2020	6 M 2019
Gain on sales of investment	4,405	0
Expenses related to investment property	-6,335	-7,311
Gross loss	1,930	-7,311
Administrative and general expenses	-8,646	-8,804
Operating loss	-16,576	-16,115
Net financial income	7	3
NET LOSS FOR THE PERIOD	-10,569	-16,112
TOTAL COMPREHENSIVE LOSS	-10,569	-16,112