Eskom Full-Year Profit More Than Doubles to 30.3 Billion Rand

Eskom Holdings SOC Ltd. more than doubled its full-year profit after tax to 30.3 billion rand for the year ending March, rising from 14 billion rand in 2025. The state power utility attributed the growth to improved plant performance and a 10.6 billion rand reduction in spending on diesel-fired turbines, which enabled the company to end power outages in May of the previous year.

Despite the financial gain, the utility reported a 6.2% drop in sales volumes, including a 23% decline in industrial usage. To offset this trend, the company is targeting new demand from electric vehicles, data centers, and crypto miners. Eskom continues to maintain agreements with industrial users such as Glencore Plc and Samancor Chrome Ltd. to provide cheaper electricity for ferrochrome smelters.

Eskom plans to reinvest its profits into a 343 billion rand capital expenditure program over the next five years. However, the utility faces significant financial headwinds, including 119 billion rand in unpaid municipal bills as of June. In a leadership change, Chief Financial Officer Calib Cassim announced his retirement.