27.05.2010
As at the end of first quarter 2010, AS Trigon Property Development owned one
property development project involving 36-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 31.03.2010 and
31.12.2009 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 loss for 3 months 2010 of AS Trigon Property Development is 34 thousand EEK
and the earnings per share is -0.01 EEK.
As of 31.03.2010 the consolidated assets of AS Trigon Property Development were
EEK 65 507 thousand. The consolidated equity of the company was EEK 61 483
thousand, corresponding to 93.86 % of the total balance sheet.
Condensed consolidated statement of financial position
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| | EEK thous | EEK thous | EUR thous | EUR thous |
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| | 31.03.201 | 31.12.2009 | 31.03.2010 | 31.12.2009 |
| | 0 | | | |
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| Cash | 30 | 71 | 2 | 5 |
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| Receivables and | 277 | 190 | 18 | 12 |
| prepayments | | | | |
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| Total current assets | 307 | 261 | 20 | 17 |
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| Investment property | 65 200 | 65 200 | 4 167 | 4 167 |
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| Total non-current | 65 200 | 65 200 | 4 167 | 4 167 |
| assets | | | | |
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| TOTAL ASSETS | 65 507 | 65 461 | 4 187 | 4 184 |
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| Borrowings | 2 180 | 2 071 | 139 | 132 |
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| Payables and | 82 | 111 | 5 | 7 |
| prepayments | | | | |
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| Total current | 2 262 | 2 182 | 144 | 139 |
| liabilities | | | | |
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| Long-term borrowings | 1 762 | 1 762 | 113 | 113 |
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| Total non-current | 1 762 | 1 762 | 113 | 113 |
| liabilities | | | | |
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| Total liabilities | 4 024 | 3 944 | 257 | 252 |
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| Share capital at | 44 991 | 44 991 | 2 875 | 2 875 |
| nominal value | | | | |
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| Share premium | 3 537 | 3 537 | 226 | 226 |
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| Statutory reserve | 4 499 | 4 499 | 288 | 288 |
| capital | | | | |
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| Retained earnings | 8 456 | 8 490 | 541 | 543 |
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| Total equity | 61 483 | 61 517 | 3 930 | 3 932 |
| | | | | |
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| TOTAL LIABILITIES | 65 507 | 65 461 | 4 187 | 4 184 |
| AND EQUITY | | | | |
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Condensed consolidated statement of comprehensive income
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| | EEK thous | EEK thous | EUR thous | EUR thous |
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| | 3 months | 3 months | 3 months | 3 months |
| | 2010 | 2009 | 2010 | 2009 |
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| Rental income | 114 | 155 | 7 | 10 |
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| Expenses related to | (80) | (45) | (5) | (3) |
| investment property | | | | |
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| Gross profit | 34 | 110 | 2 | 7 |
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| Administrative and | (38) | (33) | (2) | (2) |
| general expenses | | | | |
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| Operating profit | (4) | 77 | 0 | 5 |
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| Net financial income | (30) | (9) | (2) | 0 |
| (loss) | | | | |
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| NET PROFIT (LOSS) FOR | (34) | 68 | (2) | 5 |
| THE PERIOD | | | | |
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| TOTAL COMPREHENSIVE | (34) | 68 | (2) | 5 |
| INCOME (LOSS) | | | | |
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| | | | | |
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| Basic earnings per | (0.01) | 0.02 | (0.00) | 0.00 |
| share | | | | |
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| Diluted earnings per | (0.01) | 0.02 | (0.00) | 0.00 |
| share | | | | |
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Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200
TPD: Unaudited Financial results of Trigon Property Development, 3 months of 2010
| Source: Trigon Property Development
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