SA Nuclear Energy Corp Posts R125m Net Profit

Pretoria: The South African Nuclear Energy Corporation (Necsa) has announced a net profit of R125.2 million after tax for the past financial year. The financial results, covering the year ending 31 March 2025, were presented to Parliament's Portfolio Committee on Electricity and Energy on Wednesday. According to South African Government News Agency, Necsa also received a clean audit opinion and achieved a 93% performance on its Shareholder Compact. Loyiso Tyabashe, Necsa Group CEO, highlighted the organization's operational success as a foundation for future growth in nuclear research and technology development. Tyabashe mentioned that the strategy implemented in 2021 has been effective, and the company is poised to introduce a new strategy aimed at ensuring sustainability and contributing to South Africa's socio-economic goals. A turnaround strategy initiated in 2021 focused on financial sustainability, efficient operations, and good governance. Necsa's radioisotopes subsidiary, NTP, reported a net profit of R118.3 million, despite global market volatility, and received a clean audit. Meanwhile, the fluorochemical subsidiary, Pelchem, recorded a negative net profit of R29.73 million but has reduced its losses compared to previous years and achieved an unqualified audit. Looking forward, Necsa is planning six high-impact programs to solidify its position in the nuclear technology and development sector. These programs aim to re-establish the nuclear fuel cycle, develop small modular reactors (SMRs), extend the life of the SAFARI-1 reactor, build a new multipurpose nuclear research reactor, expand radioisotope production, and enhance skills development in the nuclear industry. Last week, during the G20 Nuclear Energy Ministerial Conference in Durban, Minister of Electricity and Energy Dr. Kgosientsho Ramokgopa emphasized Necsa's critical role in South Africa's nuclear energy expansion plans. He mentioned upcoming announcements related to a new job program and the search for partners to advance the country's nu clear capabilities, highlighting a global interest in collaboration with South Africa.