Massive turnaround for Eskom

[BusinessTech]

Massive turnaround for Eskom

Eskom has set lofty goals of breaking even in 2025 and becoming profitable by 2026 - and it is making huge progress crawling out of a loss.

 

[Sarg3_ZN]

Cool story bro.

 

[Hemi300c]

 

[blah99]

Thanks to Andre De Ruyter's hard work bearing fruit now.

 

[Johnatan56]

In the first quarter ending June 2024, Eskom’s pre-tax loss narrowed by R6.7 billion to R200 million, aided largely by significant tariff hikes of around 13% for direct customers from April 2024.

So just tariff hike yourself out of issues?

The group noted that its debt securities and borrowings were R8.1 billion lower—although the total remains staggeringly high at R445.5 billion.

And going for R10bn "profit" is not going to work well with a R445bn debt as still need to build new power stations as fleet is aging, a majority are due to be de-commissioned by 2035.

 

[Ecco]

Massive!

 

[Mike Hoxbig]

They have high hopes of getting that 36% increase, and even higher hopes of people paying it...

 

[Pax]

And there are still de ruyter fans