Transnet has reported a R4.6 billion profit for the year to the end of March 2026, its first annual profit since 2022.
The state-owned freight and logistics company recorded a R1.9 billion loss in the previous financial year.
Revenue increased by 7.1% to R88.6 billion, supported by higher rail and pipeline volumes and tariff increases. Earnings before interest, tax, depreciation and amortisation rose by 0.7% to R30.9 billion, while the EBITDA margin declined by 2.2 percentage points to 34.8%.
Net operating expenses increased by 10.8% to R57.7 billion. Capital investment fell to R23.3 billion.
Rail volumes increased by 4.9% to 167.9 million tonnes. Transnet said improved freight and pipeline activity, operational discipline and work with private-sector partners supported the result.
Chairperson Andile Sangqu said the company had laid a foundation for a more sustainable business, while acknowledging that operational and financial challenges remained.
The result marks an improvement in Transnet’s accounts, but the company still faces pressure to restore rail capacity, modernise ports and manage its debt burden. Future performance will depend on whether volume and service gains continue.
