Rand Water | Integrated Annual Report 2025

INTEGRATED ANNUAL REPO

Consolidated Annual Financial Statements for the year ended 30 June 2025

The tariff setting and approval follows the following annual cycle:

a) Department of Water and Sanitation (DWS)/Trans Caledon Tunnel Authority (TCTA) raw water tariff consultations

30 September

b) Rand Water Board approval of potable water tariffs

07 October

c) Customer consultations, notifications and feedback

October to January

d) Submission to DWS for Parliamentary approval of potable water tariffs

25 January

e) Parliamentary approval

15 March

f) Tariff implementation

01 July

7. Financial results

The financial results for the year are fully detailed in the consolidated annual financial statements as set out from pages 170 to 320. The summary of the Group's financial, business and operational performance is detailed in sections 8 to 10 of the Board Report.

8. Financial performance

2022 Restated Actual

2021 Restated Actual

2025 Actual

2024 Actual

2023 Actual

Revenue

R'm 22 922

21 815

19 578

17 661

16 556

Net income

R'm

4 645

4 562

3 536

3 462

3 295

Property, plant and equipment

R'm 32 609

30 844

29 478

28 276

26 536

Capital expenditure

R'm R'm R'm R/kl R'm

2 456 3 161

2 108 3 163

1 942 4 385

2 230 4 384

3 390 4 384

Interest bearing borrowings

Equity

45 147

40 280

35 679

32 156

28 747

Potable water bulk tariff

13.31 1 506

12.68 1 281

11.62

10.68

10.09

Net finance income

892

569

363

The Group's turnover increased by 5.08% to R22.9 billion (2024: R21.8 billion) driven primarily by the tariff increase of 4.9% for the current financial year. This growth was achieved despite operational constraints arising from planned maintenance shutdowns on key infrastructure which limited supply.

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Rand Water | Integrated Annual Report 2025