Thanks that was very informative and will help me in the future...

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quinn123

249 Posts.

13/10/21

20:26

Post #: 56778701
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Originally posted by gragou02: ↑

I'm not quite sure how to go about helping you here. To me the figures on that page of the COMSEC report are of no value whatsoever. I prefer to establish my own numbers which I pull directly from the statutory report. When I try to reconstruct the $340,000,000 reflected by COMSEC from the statutory report I can't quite get there.
The following are the figures that I would use when considering Accent's debt commitment:

To get approximately to the $340m that you've seen in COMSEC (for 2021) you need to add $277,015 to the long term debt of $61,125 in the table above and that will give you $338,400,000 which is close to the number in COMSEC. The $277,015 number is the value of the lease commitments for outlets excluding the very next twelve months (so commitments beyond the next twelve months). The very next twelve months lease commitments are reflected in the accounts as $106,811.
I hope this helps. These guys are very tidy with their business and I don't think have ever had a serious debt issue. Their net debt ignoring the lease agreements is minor and lease agreements are pretty standard for a retailer.

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Thanks that was very informative and will help me in the future when looking at retailers debt. It also helps put their debt into perspective and puts my mind at ease. As long as sales continue their trend, I can't see the lease commitments being a issue.

AX1 Price at posting: $2.51 Sentiment: Buy Disclosure: Held
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0 Great analysis

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