Important South African state-owned company collapsed and needed bailouts to stay alive

• Denel, a South African state-owned company, did not collapse but received a bailout to stay alive, and its financial performance remains under pressure.
• Denel's revenue grew by 15% in 2025/26 to R1.4 billion, driven by maintenance contracts, but its net profit declined by 19.17% to R156 million.
• The company's CFO attributed the lower profit to cost control issues, guarantee fees, and other factors, and Denel's decline can be traced back to 2015 when it lost its highly competent board of directors.