Eskom’s profit surges to R24.3bn as recovery plan boosts reliability and investor confidence

SOUTH Africa's state-owned power utility Eskom reported a sharp rise in interim profit on Friday, saying continued execution of its turnaround plan had strengthened both operational stability and financial sustainability, with profit after tax climbing to R24.3 billion in the first six months of its 2026 financial year.

- PHILIPPA LARKIN

Eskom, which has for years struggled with plant breakdowns, chronic under-investment and mounting debt, said profit before tax rose 41% to R32.5 billion from R23 billion a year earlier, while Ebitda grew 11% to R68.5 billion. The utility said the improved results underline momentum built since the implementation of a multiyear recovery plan adopted in 2022.

Loadshedding, which has hobbled Africa’s most industrialised economy for more than a decade, was limited to only 26 hours over evening peaks on four days during the period, with no outages implemented at all since May 15, 2025. The company credited a combination of better plant performance, incremental new capacity and targeted distribution-level interventions for the improved energy availability.