Stefanutti Stocks has reported an increase in its contract revenue and operating profit before investment to R7.8 billion (February 2025: R7.7 billion) and R689 million (February 2025: R333 million) respectively for the year ended 28^th February 2026, due to the recognition of the Kusile Power project settlement which contributed to R448 million to contract revenue and R388 million to its operating profit.

“The group delivered a strong performance supported by the recognition of the Kusile Power Project Settlement. Furthermore, the securing of the Standard Bank facility, settling the historic loan, thereby terminating the historic lender arrangements and concluding the Restructuring Plan, reflects a significant turning point for the group, bringing Stefanutti Stocks into a normalised trading environment,” says Group CEO, Russell Crawford.

Stefanutti’s earnings and headline earnings per share for total operations improved to 370.44 cents (February 2025: 78.60 cents) and 359.26 cents (February 2025: 109.36 cents) respectively with its current order book having increased to R17.2 billion – R6 billion of which is from work outside of South Africa and R8.5 billion for periods beyond February 2027.

The funds received from the Kusile settlement and the disposal of SS-Construções (Moçambique) Limitada have been utilized to make capital prepayments of R620 million, together with the first instalment reducing the group’s outstanding capital on its Standard Bank facility to R223 million.

Its inland region recorded an increase in both revenue and operating profit to R4 billion (February 2025: R3.3 billion) and R285 million (February 2025: R187 million) respectively, with an impairment of R14 million on land and buildings included in the operating profit. Its inland order book at February 2026 was R5.8 billion (February 2025: R3.1 billion).

The group’s coastal region recorded contract revenue of R1.4 billion (February 2025: R2 billion), delivering an operating profit of R75 million (February 2025: R65 million), with its order book as at February 2026 R2.6 billion (February 2025: R1.6 billion).

The Western Cape’s revenue was impacted by delays in project implementation, reporting contract revenue of R860 million (February 2025: R882 million) and an operating profit of R48 million (February 2025: R73 million) – including an impairment of R14 million on land and buildings. The region’s order book at February 2026 was R3.1 billion (February 2025: R2.7 billion).

Stefanutti’s African business recorded contract revenue of R1.1 billion (February 2025: R1.5 billion) with an operating loss of R38 million (February 2025: operating profit of R92 million). The group says the region was negatively impacted by the strengthening of the Zambian Kwacha against both the ZAR and US Dollar, resulting in a lower gross profit on Dollar-dominated contracts. Africa’s order book at February 2026 was R4.1 billion (February 2025: R833 million).