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Eskom’s Restated 2021 Loss Widens to Record $1.5 Billion

  • Loss of $1.1 billion initially reported last financial year
  • Adjustments include asset reclassification of coal inventory
Eskom is struggling with issues that have required nationwide rolling blackouts.

Eskom is struggling with issues that have required nationwide rolling blackouts.

Photographer: Waldo Swiegers/Bloomberg
Updated on

Eskom Holdings SOC Ltd. restated the company’s reported loss for the 2021 financial year to 25.3 billion rand ($1.5 billion), about 38% more than before certain accounting adjustments. 

The state-owned power provider originally reported an annual loss of 18.9 billion rand for the period through March last year, it’s fourth straight deficit. Eskom is struggling with operational issues that have required nationwide rolling blackouts -- locally known as loadshedding -- and faces a debt pile of about 400 billion rand.