Eskom reported a profit after tax of R16 billion for the 2025 financial year ended March 31, marking its first return to profitability since 2017. This contrasts with a R25,5 billion loss in 2024, underpinned by government’s debt relief framework, a 12,74% tariff increase and a reduction in primary energy costs.
The results were announced at Eskom’s FY2025 annual results media briefing on September 30. Diesel expenditure fell by R16,3 billion as reliance on open-cycle gas turbines dropped with improved coal plant reliability, Eskom said.
“Following years of constrained performance, we are beginning to see the benefits of our recovery strategies with marked improvements across key financial metrics driven by the operational turnaround,” said Eskom’s Group Chief Executive Dan Marokane. He also confirmed that Eskom will reinvest more than R320 billion over the next five years to sustain and expand infrastructure.
Despite the improved performance, municipal arrear debt rose 27% year-on-year to R94,6 billion. Eskom also received a qualified audit opinion for FY2025 with auditors citing deficiencies in records and irregular expenditure reporting. Management has launched a three-year audit recovery programme to address these issues, Eskom said.
