Income Statement Acsion Limited

Stocks

ACS

ZAE000198289

Real Estate Development & Operations

End-of-day quote Johannesburg S.E. 2026-08-25			5-day change	1st Jan Change
8.700 ^ZAR	0.00%		-21.62%	-20.91%

08-13	Acsion Limited Approves Appointments on Board Committees	CI
06-30	Acsion Limited Reports Earnings Results for the Full Year Ended February 28, 2026	CI

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Published financial data: ACSION LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: February	2022	2023	2024	2025	2026
Rental Revenues	910M	1.11B	1.28B	1.34B	1.39B
Property Management Fee	399K	248K	271K	345K	447K
Interest and Investment Income, Total (Revenue Block)	-	-	-	5.67M	3.73M
Other Revenues, Total	398K	79.45M	156M	193M	245M
Total Revenues	911M	1.19B	1.44B	1.54B	1.64B
Property Expenses	301M	479M	688M	656M	741M
Selling General & Admin Expenses, Total	-	-	-	-	-
Depreciation & Amortization - (IS) - (Collected)	-	-	-	-	-
Provision for Bad Debts	34.98M	23.94M	24.71M	18.29M	10.36M
Other Operating Expenses	-1.96M	-12.21M	-76K	-897K	-1.6M
Total Operating Expenses	334M	491M	713M	674M	750M
Operating Income (REIT / Utility Template)	577M	695M	725M	863M	887M
Interest Expense, Total	-62.91M	-95.31M	-128M	-118M	-92.91M
Interest and Investment Income	4.98M	4.94M	14.69M	28.88M	31.73M
Net Interest Expenses	-57.93M	-90.37M	-113M	-88.89M	-61.19M
Currency Exchange Gains (Loss)	-14.84M	9.77M	41.42M	-55.71M	-14.01M
Other Non Operating Income (Expenses)	-	-	-1.17M	-	-
EBT, Excl. Unusual Items	504M	614M	652M	719M	812M
Gain (Loss) on Sale of Assets	-	-	-	-	4.78M
Asset Writedown	1.02B	492M	726M	1.36B	566M
Insurance Settlements	-	-	26.18M	4M	491K
Other Unusual Items	-6.55M	-	43.24M	-	-
EBT, Incl. Unusual Items	1.51B	1.11B	1.45B	2.08B	1.38B
Income Tax Expense	295M	199M	377M	465M	267M
Earnings From Continuing Operations	1.22B	907M	1.07B	1.61B	1.12B
Net Income to Company	1.22B	907M	1.07B	1.61B	1.12B
Minority Interest	-48.65M	-17.9M	-29.92M	-26.8M	-19.18M
Net Income - (IS)	1.17B	889M	1.04B	1.59B	1.1B
Net Income to Common Incl Extra Items	1.17B	889M	1.04B	1.59B	1.1B
Net Income to Common Excl. Extra Items	1.17B	889M	1.04B	1.59B	1.1B
Per Share Items
Net EPS - Basic	3.02	2.31	2.7	4.13	2.85
Basic EPS - Continuing Operations	3.02	2.31	2.7	4.13	2.85
Basic Weighted Average Shares Outstanding	388M	385M	385M	384M	385M
Net EPS - Diluted	3.02	2.31	2.7	4.13	2.85
Diluted EPS - Continuing Operations	3.02	2.31	2.7	4.13	2.85
Diluted Weighted Average Shares Outstanding	388M	385M	385M	384M	385M
Normalized Basic EPS	0.69	0.95	0.98	1.1	1.27
Normalized Diluted EPS	0.69	0.95	0.98	1.1	1.27
Dividend Per Share	0.18	0.36	0.32	0.38	0.46
Payout Ratio	-	15.59	12.73	8.25	14.73
Supplemental Items
EBITDA	621M	799M	884M	943M	983M
EBITA	577M	695M	725M	863M	887M
EBIT	577M	695M	725M	863M	887M
Effective Tax Rate - (Ratio)	19.46	18.01	26.07	22.35	19.3
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	115M	67.37M	96.7M	120M	154M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	179M	132M	281M	345M	113M
Normalized Net Income	266M	366M	377M	422M	488M
Interest on Long-Term Debt	23.3M	12.61M	17.08M	19.74M	20.26M
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	-	-	-	-	-
Maintenance & Repair Expenses, Total	6.4M	22.23M	34.74M	32.48M	34.76M

Fiscal Period: February	2022	2023	2024	2025	2026
Assets
Gross Property Plant And Equipment	11.16B	12.66B	14.07B	15.28B	15.86B
Accumulated Depreciation	-337M	-472M	-599M	-593M	-687M
Net Property Plant And Equipment	10.82B	12.18B	13.47B	14.69B	15.17B
Total Real Estate Assets	10.82B	12.18B	13.47B	14.69B	15.17B
Cash And Equivalents	286M	232M	520M	746M	1.03B
Accounts Receivable, Total	19.02M	19.47M	28.06M	29.4M	24.74M
Other Receivables	29.12M	25.12M	15.92M	31.53M	21.26M
Goodwill	625M	625M	625M	625M	625M
Other Intangibles, Total	260K	165K	165K	0	-
Notes Receivable (Collected)	-	-	-	-	-
Other Current Assets, Total	44.12M	243M	91.16M	83.12M	88.79M
Deferred Tax Assets Long-Term (Collected)	74M	37.46M	247K	122K	2.14M
Other Long-Term Assets, Total	699K	527K	6.29M	5.84M	4.58M
Total Assets	11.9B	13.37B	14.75B	16.21B	16.97B
Liabilities
Current Portion of Long-Term Debt	371M	5.4M	706M	648M	318K
Current Portion of Leases	4.26M	5.34M	-	-	-
Short-Term Borrowings	3.97M	4.43M	4.67M	3.85M	3.76M
Long-Term Debt	708M	1.14B	336M	294M	701M
Long-Term Leases	498M	700M	793M	874M	853M
Accounts Payable, Total	115M	308M	364M	256M	316M
Accrued Expenses, Total	80.72M	10.14M	10M	10.47M	11.99M
Current Income Taxes Payable	15.96M	9.78M	11.22M	17.36M	31.25M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	96.16M	-	-	-	-
Deferred Tax Liability Non-Current	1.65B	1.79B	2.03B	2.34B	2.45B
Other Non Current Liabilities	-	13.17M	14M	103M	56.15M
Total Liabilities	3.54B	3.98B	4.27B	4.55B	4.43B
Common Stock, Total	3.98B	3.98B	3.98B	3.98B	3.98B
Retained Earnings	4.25B	5B	5.9B	7.4B	8.33B
Treasury Stock	-45.73M	-45.85M	-46.21M	-47.01M	-52.53M
Comprehensive Income and Other	27.13M	274M	410M	202M	139M
Total Common Equity	8.21B	9.2B	10.25B	11.53B	12.4B
Minority Interest	154M	185M	234M	128M	143M
Total Equity	8.36B	9.39B	10.48B	11.66B	12.54B
Total Liabilities And Equity	11.9B	13.37B	14.75B	16.21B	16.97B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	385M	385M	385M	385M	384M
ECS Total Common Shares Outstanding	385M	385M	385M	385M	384M
Book Value / Share	21.31	23.91	26.62	29.96	32.27
Tangible Book Value	7.58B	8.58B	9.62B	10.91B	11.77B
Tangible Book Value Per Share	19.69	22.28	24.99	28.34	30.64
Total Debt	1.59B	1.85B	1.84B	1.82B	1.56B
Net Debt	1.3B	1.62B	1.32B	1.07B	532M
Minority Interest, Total (Incl. Fin. Div)	154M	185M	234M	128M	143M
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	39.59M	39.59M	40.38M	40.38M	34.58M
Inventories - Others	-	6.48M	15.03M	15.66M	16.05M
Buildings, Total	583M	-	-	-	-
Machinery, Total	454M	597M	606M	613M	741M
Full Time Employees	143	412	373	453	548
Assets on Operating Lease - Gross	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	30.97M	39.88M	26.73M	27.48M	34.37M

Fiscal Period: February	2022	2023	2024	2025	2026
Net Income	1.17B	889M	1.04B	1.59B	1.1B
Depreciation, Depletion & Amortization	44.86M	104M	159M	79.85M	95.78M
Total Depreciation, Depletion & Amortization	44.86M	104M	159M	79.85M	95.78M
Amortization of Deferred Charges, Total	6K	-	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-103K	-	35K	488K	113K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	-1.01B	-549M	-726M	-1.36B	-566M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Change in Accounts Receivable	14.21M	163K	-12.81M	-688K	2.77M
Change In Inventories	-	-6.48M	-8.27M	429K	5.48M
Change in Accounts Payable	19.9M	46.06M	39.25M	10.07M	33.31M
Change in Other Net Operating Assets (Collected)	-	-	-	-	-
Other Operating Activities	242M	111M	210M	431M	203M
Cash from Operations	480M	594M	701M	753M	872M
Acquisition of Real Estate Assets, Total	-593M	-379M	-179M	-174M	-151M
Sale of Real Estate Assets, Total	5.19M	-	-	-	976K
Net Sale / Acquisition of Real Estate Assets	-588M	-379M	-179M	-174M	-150M
Cash Acquisitions	-	-	-34.93M	-	-
Purchase / Sale of Intangible Assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-160K	-197M	-5.52M	-	1.24M
Other Investing Activities, Total	-	-	26.09M	3.48M	-
Cash from Investing	-588M	-576M	-193M	-171M	-149M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	1.05B	554M	456M	40M	341M
Total Debt Issued	1.05B	554M	456M	40M	341M
Long-Term Debt Repaid, Total	-697M	-506M	-557M	-140M	-577M
Total Debt Repaid	-697M	-506M	-557M	-140M	-577M
Repurchase of Common Stock	-32.99M	-121K	-358K	-800K	-5.52M
Common Dividends Paid	-	-139M	-132M	-131M	-162M
Common & Preferred Stock Dividends Paid	-	-139M	-132M	-131M	-162M
Other Financing Activities, Total	-	-	-	-75M	-
Cash from Financing	320M	-90.69M	-234M	-307M	-403M
Foreign Exchange Rate Adjustments	8.67M	18.36M	14.28M	-48.91M	-40.34M
Net Change in Cash	221M	-54.41M	288M	226M	280M
Supplemental Items
Cash Interest Paid	62.91M	78.29M	104M	128M	88.97M
Cash Income Tax Paid (Refund)	125M	86.42M	84.85M	119M	135M
Net Debt Issued / Repaid	353M	48.04M	-101M	-100M	-236M
Levered Free Cash Flow	384M	303M	742M	436M	677M
Unlevered Free Cash Flow	423M	362M	822M	510M	735M
Change In Net Working Capital	-17.9M	176M	-210M	110M	-84.42M

Fiscal Period: February	2022	2023	2024	2025	2026
Profitability
Return on Assets	3.31	3.44	3.22	3.48	3.34
Return on Total Capital	3.99	4.1	3.85	4.18	4.02
Return On Equity %	15.7	10.22	10.77	14.58	9.22
Return on Common Equity	15.33	10.21	10.69	14.58	9.17
Margin Analysis
Gross Profit Margin %	66.93	59.6	52.14	57.3	54.72
SG&A Margin	-	-	-	-	-
EBITDA Margin %	68.23	67.36	61.51	61.36	60.04
EBITA Margin %	63.3	58.61	50.42	56.17	54.19
EBIT Margin %	63.3	58.61	50.42	56.17	54.19
Income From Continuing Operations Margin %	133.85	76.48	74.43	105	68.16
Net Income Margin %	128.51	74.97	72.35	103.25	66.99
Net Avail. For Common Margin %	128.51	74.97	72.35	103.25	66.99
Normalized Net Income Margin	29.23	30.87	26.26	27.48	29.83
Levered Free Cash Flow Margin	42.14	25.52	51.63	28.38	41.33
Unlevered Free Cash Flow Margin	46.46	30.54	57.19	33.17	44.87
Asset Turnover
Asset Turnover	0.08	0.09	0.1	0.1	0.1
Fixed Assets Turnover	0.09	0.1	0.11	0.11	0.11
Receivables Turnover (Average Receivables)	38.16	57.48	53.91	46.58	51.29
Inventory Turnover (Average Inventory)	7.61	11.18	13.56	11.78	13.9
Short Term Liquidity
Current Ratio	0.55	1.52	0.6	0.95	3.19
Quick Ratio	0.49	0.81	0.51	0.86	2.95
Operating Cash Flow to Current Liabilities	0.7	1.73	0.64	0.8	2.4
Days Sales Outstanding (Average Receivables)	9.56	6.35	6.79	7.84	7.12
Days Outstanding Inventory (Average Inventory)	47.98	32.64	26.99	30.99	26.26
Average Days Payable Outstanding	158.73	159	176.16	172.22	141.96
Cash Conversion Cycle (Average Days)	-101.18	-120.01	-142.38	-133.39	-108.59
Long Term Solvency
Total Debt/Equity	18.97	19.73	17.56	15.61	12.43
Total Debt / Total Capital	15.94	16.48	14.94	13.5	11.05
LT Debt/Equity	14.42	19.57	10.78	10.02	12.39
Long-Term Debt / Total Capital	12.12	16.34	9.17	8.66	11.02
Total Liabilities / Total Assets	29.76	29.76	28.97	28.08	26.09
EBIT / Interest Expense	9.16	7.29	5.66	7.33	9.55
EBITDA / Interest Expense	9.88	8.38	6.91	8.01	10.58
(EBITDA - Capex) / Interest Expense	9.88	8.38	6.91	8.01	10.58
Total Debt / EBITDA	2.55	2.32	2.08	1.93	1.59
Net Debt / EBITDA	2.09	2.03	1.49	1.14	0.54
Total Debt / (EBITDA - Capex)	2.55	2.32	2.08	1.93	1.59
Net Debt / (EBITDA - Capex)	2.09	2.03	1.49	1.14	0.54
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	29.07	30.18	20.99	6.92	6.53
Gross Profit, 1 Yr. Growth %	61.27	15.93	15	17.5	1.74
EBITDA, 1 Yr. Growth %	54.17	29.89	19.29	6.67	4.23
EBITA, 1 Yr. Growth %	55.52	21.92	13.71	19.1	2.78
EBIT, 1 Yr. Growth %	55.52	21.92	13.71	19.1	2.78
Earnings From Cont. Operations, 1 Yr. Growth %	1.7K	-25.61	18	50.83	-30.84
Net Income, 1 Yr. Growth %	4.85K	-24.05	17.01	52.59	-30.89
Diluted EPS Before Extra, 1 Yr. Growth %	4.92K	-23.51	17.02	52.86	-30.94
Normalized Net Income, 1 Yr. Growth %	53.54	39.65	14.34	11.9	15.62
Net Property, Plant and Equip., 1 Yr. Growth %	19.83	12.56	10.53	9.07	3.3
Inventory, 1 Yr. Growth %	0	16.37	20.28	1.13	-9.65
Accounts Receivable, 1 Yr. Growth %	-33.72	2.39	44.1	4.77	-15.85
Total Assets, 1 Yr. Growth %	20.4	12.3	10.38	9.87	4.67
Common Equity, 1 Yr. Growth %	16.23	12.15	11.33	12.53	7.51
Tangible Book Value, 1 Yr. Growth %	17.81	13.16	12.16	13.35	7.94
Cash From Operations, 1 Yr. Growth %	18.08	23.74	17.96	7.34	15.85
Capital Expenditures, 1 Yr. Growth %	-	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	29.12	-20.31	177.88	-41.16	55.1
Unlevered Free Cash Flow, 1 Yr. Growth %	30.55	-13.57	152.02	-37.98	44.1
Dividend Per Share, 1 Yr. Growth %	-	100	-10	17.28	21.05
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	15.12	29.62	25.64	13.74	6.73
Gross Profit, 2 Yr. CAGR %	24.89	36.73	10.89	16.24	9.34
EBITDA, 2 Yr. CAGR %	18.15	40.76	19.92	12.8	5.44
EBITA, 2 Yr. CAGR %	21.39	36.91	12.77	16.37	10.64
EBIT, 2 Yr. CAGR %	21.39	36.91	12.77	16.37	10.64
Earnings From Cont. Operations, 2 Yr. CAGR %	57.58	266.02	-6.31	33.41	2.13
Net Income, 2 Yr. CAGR %	55.27	513.31	-5.73	33.62	2.7
Diluted EPS Before Extra, 2 Yr. CAGR %	56.4	519.88	-5.39	33.74	2.75
Normalized Net Income, 2 Yr. CAGR %	11.88	45.3	20	13.11	13.75
Net Property, Plant and Equip., 2 Yr. CAGR %	11.32	16.14	11.54	9.8	6.15
Inventory, 2 Yr. CAGR %	-	7.87	18.31	10.29	-4.41
Accounts Receivable, 2 Yr. CAGR %	14.41	-17.62	21.47	22.87	-6.1
Total Assets, 2 Yr. CAGR %	11.08	16.28	11.34	10.12	7.24
Common Equity, 2 Yr. CAGR %	7.98	14.17	11.74	11.93	9.99
Tangible Book Value, 2 Yr. CAGR %	8.72	15.46	12.66	12.75	10.61
Cash From Operations, 2 Yr. CAGR %	12.07	20.88	20.82	12.53	11.51
Capital Expenditures, 2 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	4.27	0.89	39.81	27.81	-4.47
Unlevered Free Cash Flow, 2 Yr. CAGR %	3.78	5.71	40.08	25.02	-5.47
Dividend Per Share, 2 Yr. CAGR %	-	-	34.16	2.74	19.15
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.69	19.94	26.77	19.06	11.28
Gross Profit, 3 Yr. CAGR %	-2.3	21.83	25.63	13.05	11.19
EBITDA, 3 Yr. CAGR %	10.07	21.51	29.94	15.33	9.87
EBITA, 3 Yr. CAGR %	9.55	21.11	25.05	14.84	11.65
EBIT, 3 Yr. CAGR %	9.55	21.11	25.05	14.84	11.65
Earnings From Cont. Operations, 3 Yr. CAGR %	9.24	22.7	150.97	9.8	7.17
Net Income, 3 Yr. CAGR %	8.32	22.34	253.07	10.69	7.26
Diluted EPS Before Extra, 3 Yr. CAGR %	8.87	23.22	255.59	11.01	7.3
Normalized Net Income, 3 Yr. CAGR %	5.02	19.84	29.61	17.24	13.94
Net Property, Plant and Equip., 3 Yr. CAGR %	9.58	11.73	14.24	10.71	7.59
Inventory, 3 Yr. CAGR %	-	-	11.86	12.28	3.2
Accounts Receivable, 3 Yr. CAGR %	19.16	10.26	-0.74	15.63	8.31
Total Assets, 3 Yr. CAGR %	8.64	11.49	14.28	10.85	8.27
Common Equity, 3 Yr. CAGR %	6.37	9.35	13.22	12	10.44
Tangible Book Value, 3 Yr. CAGR %	8.34	10.18	14.35	12.89	11.13
Cash From Operations, 3 Yr. CAGR %	10.08	15.83	19.9	16.15	13.62
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	8.02	-5.01	35.67	4.74	36.32
Unlevered Free Cash Flow, 3 Yr. CAGR %	7.24	-2.68	36.39	6.76	31.08
Dividend Per Share, 3 Yr. CAGR %	-	-	-	28.28	8.51
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.64	15.09	17.07	17.47	18.34
Gross Profit, 5 Yr. CAGR %	3.02	3.78	2.77	17.64	18.84
EBITDA, 5 Yr. CAGR %	11.86	15.1	13.67	16.2	19.52
EBITA, 5 Yr. CAGR %	11.98	13.34	10.57	17.15	19.07
EBIT, 5 Yr. CAGR %	11.98	13.34	10.57	17.15	19.07
Earnings From Cont. Operations, 5 Yr. CAGR %	12.95	1.94	2.73	26.87	75.16
Net Income, 5 Yr. CAGR %	12.78	1.76	2.47	26.73	115.45
Diluted EPS Before Extra, 5 Yr. CAGR %	13.16	2.23	2.92	27.33	116.41
Normalized Net Income, 5 Yr. CAGR %	9.33	12.31	10.43	14.71	23.01
Net Property, Plant and Equip., 5 Yr. CAGR %	14.37	12.76	10.36	10.96	10.93
Inventory, 5 Yr. CAGR %	-	-	-	-	5.04
Accounts Receivable, 5 Yr. CAGR %	15.33	16.1	20.08	15.14	-2.92
Total Assets, 5 Yr. CAGR %	12.38	10.91	9.71	10.94	11.41
Common Equity, 5 Yr. CAGR %	9.49	9.02	8.48	10.38	11.92
Tangible Book Value, 5 Yr. CAGR %	10.56	9.9	10.05	11.2	12.84
Cash From Operations, 5 Yr. CAGR %	12.39	17.11	14.25	14.5	16.47
Levered Free Cash Flow, 5 Yr. CAGR %	8.25	7.16	19.5	4.33	17.88
Unlevered Free Cash Flow, 5 Yr. CAGR %	9.19	7.72	19.1	5.35	17.79
Dividend Per Share, 5 Yr. CAGR %	7.57	7.57	-	-	-