Baggedem
You are correct - I used the wrong value to depreciate; it should be the 1775 over 3 years (schoolboy error on my part!!)
Note that under the rental, Profit/Loss will be 3559 Rental less 592 depreciation (the purchase of the camera will have a balance sheet & cashflow impact not a P&L impact
However, as I mentioned, I believe the rental contract involves a degree of support/maintenance so the profitability is likely to be lower than we have modelled.
The underlying thematic is however unchanged - a rental contract may need an upfront cash outlay for the company, but the payback period is not so extended that it creates a material cashflow issue for them
Ann: H1 FY21 Results - Investor Call Presentation, page-50
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