Transnet announces its annual financial results for the year ended 31 March 2025, today at the Johannesburg Stock Exchange.
Last year the Group CEO Michelle Phillips reported an improvement in operational performance with rail volumes reaching 151.7-million tonnes. This however falls 1.8% short of the recovery plan target of 154.4-million tonnes.
Revenue was also up by 12.8% year-on-year, just 1% below the recovery plan goal, while operating expenditure increased by 8.3% year-on-year, which was 4.2% less than budgeted.
Container handling improved by 2.2% to 4.15-million twenty foot equivalent units (TEUs). Another 1.8% short of the recovery plan goal of 4.23-million TEUs.
Transnet’s recovery plan was implemented in October 2023 to address the numerous constraints on state-owned entity’s operational performance and to stabilise and improve volumes.
Last year chairperson Andile Sangqu said, “Transnet’s journey to recovery is on course. We are executing our plans to enhance operational and financial performance for long-term sustainable growth.
“Of course, we are not out of the woods yet but the progress is real. The business is being stabilised and we are increasingly optimistic about the future.”