CAPE TOWN: State-owned power utility Eskom has increased its revenues by 10.5% year-on-year to R97.1bn for the six months to end-September 2016. The boost in revenue comes on the back the what it says is an improved operationational performance, 15 months of no load shedding and additional capacity from some of its new build projects. Other results from the company include that earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 23.1% for the period to R31.5bn.
The company further said plant availability has increased from 71.23% to 78.5%, cash flow from operating activities rose 38.6% to R31.9bn and liquid assets surged 81.6% to R43.8bn. “Eskom is now delivering excess electricity capacity to help stimulate South Africa’s economic growth,” said Eskom CEO Brian Molefe.
“Our five-year plan to the 2020/21 financial year aims to re-establish Eskom as a catalyst for economic growth, and not a constraint to the country’s future growth,” said Molefe. But as part of its announcement, Eskom further said that its municipal arrear debt increased from R6.5bn to R9.2bn. The company said it is considering the prepaid billing method as a way of curbing this debt.
