MARC HASENFUSS: Industrial group enX roars into life
The conglomerate has produced a huge turnaround, thanks to rocketing demand for its New Way Power division — and there’s more to come
09 November 2023 - 05:00
In February I was asked to pick a selection of stocks — a proverbial power portfolio — to hedge against Eskom’s inability to supply sustainable electricity.
Stretching the brief somewhat, I included industrial conglomerate enX, which holds a small power solutions cluster under New Way Power (NWP). In results to end-August 2022 the load-shedding regime had switched NWP from a R37m loss to a profit of R10m off a 24% jump in revenue to R397m. While that represented a flicker of hope, at the time I suggested NWP was probably too small to really move the needle at enX. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.