Eskom posts annual loss of R12.3bn despite operating profit rising 238%
Utility expects R20bn net loss in 2023 with sales falling and more spent on maintenance, diesel and debt servicing
23 December 2022 - 15:07
Power utility Eskom reported a loss of R12.3bn for the year to end-March 2022, its fifth successive annual deficit.
Despite achieving an increase in operating profit for the 2022 financial year, and managing an overall reduction in gross debt of R5.5bn (1%), the strain of high debt servicing costs and an escalation in arrear debt from non-paying municipalities means Eskom will remain reliant on bailouts from Treasury...
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