Highlights

Revenue increased by 11,3% to R72,9 billion for the year, driven by a 4,3% increase in railed export coal volumes; a 6,5% increase in railed automotive and container volumes and a 6,1% increase in port container volumes.

Operating expenses increased by 6,5% to R40,4 billion, which represents a R3,1 billion saving against planned costs.

EBITDA increased by 18,0% to R32,5 billion, with the EBITDA margin increasing from 42,1% to 44,6%.

Gearing of 43,4%. This level is below the Group’s target range of <50,0%, and is comfortably within the triggers in loan covenants, reflecting the available capacity to continue with its investment strategy.

Cash interest cover at 3,0 times, reflects Transnet’s strong cash generating capability and is comfortably above the triggers in loan covenants.

Capital investment of R21,8 billion brought expenditure over the past six years to R165,6 billion.

2,9% of labour costs was spent on training, focusing on artisans, engineers, and engineering technicians.

B-BBEE spend amounted to R25,8 billion or 86,9% of total measured procurement spend, per DTI codes.

The Company recorded a DIFR ratio of 0,73 – the seventh consecutive year that a ratio below 0,75 has been achieved with the global benchmark being 1,0.