Eskom on a path to operational and financial stability
HIGHLIGHTS
- Net profit up 22% to R11.3 billion
- EBITDA rose 9% to R24.9 billion
- Cash flow from operations increased 13% to R23 billion
- Funding of R46 billion secured, liquidity position improved
- Gearing improved to 60% from 66%
- Debt-to-equity ratio improved to 1.50 from 1.90
- 41 778 additional households electrified
Tuesday, 24 November 2015: Announcing Eskom’s interim financial results for the six months ended 30 September 2015, Group Chief Executive Brian Molefe said today that the company has made significant strides in key areas of the business, a move that has placed the company on a path to operational and financial stability.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased 9% to R24.9 billion (2014: R22.8 billion) on the back of an 8% growth in the revenue of R87.9 billion. Net profit for the period grew 22% to R11.3 billion compared to R9.3 billion previously.
Total operating costs increased with 7% to R71.3 billion (September 2014: R66.6 billion). Primary energy costs rose by 7.7% to R41 billion, while repairs and maintenance grew by 11.2% to R3.7 billion, due to our strategy to perform more planned maintenance.