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Financial results 9 months 2009

30.11.2009 18.18,

TPD: Unaudited Financial results of Trigon Property Development, 9 months of 2009

As at the end of third quarter 2009, AS Trigon Property Development owned one property development project involving 40-hectare land plot in the City of Pärnu, Niidu area.

 

The balance sheet as of 30.09.2009 and 31.12.2008 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the presented income statement the net loss for 9 months 2009 of AS Trigon Property Development is 64 186 thousand EEK and the earnings per share is –14.27 EEK. Consolidated loss for the 9 months 2009 results from revaluation of the real estate in the total amount of minus EEK 63 727 thousand.

As of 30.09.2009 the consolidated assets of AS Trigon Property Development was EEK 60 893 thousand. The consolidated equity of the company was EEK 56 953 thousand, corresponding to 93.53 % of the total balance sheet.

Ülo Adamson

Chairman of the Supervisory Board

+372 51 39 424

Condensed consolidated statement of financial position

  

	EEK thous	EEK thous	EUR thous	EUR thous
	30.09.2009	31.12.2008	30.09.2009	31.12.2008
Cash	127	69	8	4
Receivables and prepayments	214	125	14	8
Total current assets	341	194	22	12
Investment property	60 552	124 280	3 870	7 943
Total non-current assets	60 552	124 280	3 870	7 943
TOTAL ASSETS	60 893	124 474	3 892	7 955
Borrowings	196	1 026	13	65
Payables and prepayments	64	155	4	10
Total current liabilities	260	1 181	17	75
Long-term borrowings	3 680	2 154	235	138
Total non-current liabilities	3 680	2 154	235	138
Total liabilities	3 940	3 335	252	213
Share capital at nominal value	44 991	44 991	2 875	2 875
Share premium	3 537	3 537	226	226
Statutory reserve capital	4 499	4 499	288	288
Retained earnings	3 926	68 112	251	4 353
Total equity	56 953	121 139	3 640	7 742
TOTAL LIABILITIES AND EQUITY	60 893	124 474	3 892	7 955

 

Condensed consolidated statement of comprehensive income

	EEK thous	EEK thous	EUR thous	EUR thous
	9 months 2009	9 months 2008	9 months 2009	9 months 2008
Rental income	472	351	30	22
Expenses related to investment property	-717	-135	-46	-9
Gross loss (profit)	-245	216	-16	13
Administrative and general expenses	-126	-167	-8	-11
Change in value of investment property	(63 727)	(8 695)	(4 073)	-555
Other income	0	226	0	14
Operating loss	(64 098)	(8 420)	(4 097)	-539
Net financial income	-88	-19	-5	-1
TOTAL COMPREHENSIVE INCOME	(64 186)	(8 439)	(4 102)	-540
Basic earnings per share	-14.27	-1.88	-0.91	-0.12
Diluted earnings per share	-14.27	-1.88	-0.91	-0.12

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