The South African Nuclear Energy Corporation Necsa has posted a net profit after tax of some R125.2m over the past financial year.
The corporation presented its financial results for the financial year ended 31 March 2025 to Parliaments Portfolio Committee on Electricity and Energy on Wednesday.
Necsa also received a clean audit opinion and achieved some 93 on its Shareholder Compact.
"The positive operational and governance results we witness today bear testimony to a hard-working team of employees and guidance from our oversight bodies and support of stakeholders. This is not a destination, but a good base to launch our growth plans centred on our mandate in nuclear research and growth on the back of a vision of developing nuclear technology for global prominence.
"The strategy we started implementing in 2021 has served us well and we are now ready to move into a new strategy that will make Necsa sustainable well into the future, and contribute to South Africas socio-economic objectives. We look forward to cementing this achievement and improving even further," Necsa Group CEO Loyiso Tyabashe said.
A turnaround strategy was implemented at the organisation in 2021.
"At the core of the strategy was financial sustainability, efficient operations and good governance. The radioisotopes subsidiary NTP posted good results amidst volatility in global markets, ending at a net profit after tax of R118.3 million and a clean audit.
"The fluorochemical subsidiary, Pelchem, ended on a negative net profit after tax at R29. 73m. It has however reduced its losses compared to the previous financial years and achieved an unqualified audit," Necsa explained.
Looking ahead
Going into the future, the organisation is eyeing six high impact programmes aimed at cementing "Necsas role in the nuclear technology and development space, including the nuclear energy industry at large".
"This will be done through the implementation of these programmes that include re-establishing the front-end nuclear fuel cycle positioning itself in the development of small modular reactors SMRs extending the life of SAFARI-1, and building a new multipurpose nuclear research reactor MPR increasing its footprint for the radioisotope production and services beneficiating fluorochemicals and stabilising that businesses, as well as capacitating and strengthening skills development for the nuclear industry and other industries in general.
"These programmes will set Necsa on a growth path and allow South Africa to occupy centre stage in the global nuclear technology industry," Necsa explained.
Last week during the G20 Nuclear Energy Ministerial Conference in Durban, Minister of Electricity and Energy Dr Kgosientsho Ramokgopa explained Necsas role in South Africas ambition to expand into nuclear energy.
"We will be making big announcements post-Cabinet. We are close to that. Our ambition is to build a new job programme of at least initially the size of 5 000MW, and we think that we can derive the benefits of industrialisation and ensure that there is an exponential increase of the skills that are required to support that build programme.
"Necsa is a big part of the conversation. As we know, we are running a 60-year-old research reactor. We are looking for suitors or partners to help us to take it to another level. We have seen that there is an insatiable appetite from across the globe to partner and work with us," the Minister said.