The rail freight division of Transnet, Transnet Freight Rail, recorded an increased revenue by 11.7% to USD 3 billion (R 43.7 billion) during 2017-2018.
The operator transported a ‘record’ of 77 million tones of export coal, a 4.3% increase, including a monthly record throughput of 7.2 million tonnes in the month of September 2017.
A moderate increase in the iron ore export volumes was achieved by 2.3% to 58.5 million tonnes.
Transnet announced that for the year ending in March 2018, revenue increased by 11.3% to USD 5 billion (R 72.9 billion) mainly driven by export coal volumes (a 4.3% increase), automotive and container volumes (6.5% increase), transported via railway network.
The company’s key measure of profitability – EBITDA was improved by 18% to USD 2.27 billion (R 32.5 billion) compared to USD 1.9 billion (R 27.6 billion) achieved in the prior year.
The company says that net profit for 2017-2018 increased significantly to USD 342.5 million (R4,9 billion) compared to USD 195.7 million (R 2.8 billion), in previous year, with a 75% improvement.
Transnet has largely achieved its objectives which will allow the migration from currently Market Demand Strategy to its new plans highlighted in Transnet 4.0 strategy.
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