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Transnet resilient through 2020 despite lower volumes moved
By Edward West
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CAPE TOWN - TRANSNET S earnings before interest, tax, depreciation and amortisation fell 33.7 percent to R17.1 billion in the nine months to December 31 after its operations were hard hit by Covid- 19 related lockdowns.
The transport utility, which last week launched a court review of tenders to acquire 1 064 locomotives for R54.4bn, one of the largest single procurement events undertaken by a stateowned company, said the lockdown in March 2020 had severely constrained demand for port, pipeline, and rail freight services.
Transnet, however, said that it had remained resilient.
The group generated more than R18.6bn cash flows from its operations as at December 31, sufficiently funding finance costs and working capital, and netting R4.3bn from operating activities to fund the capital investment programme. ....

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