Thriving in an era of transformation

PwC’s South Africa Manufacturing Analysis 2025

Woman standing at a half built car.
  • Publication
  • March 16, 2026

A year in review of JSE listed manufacturers of financial year 2025

In the second of our South Africa Manufacturing Analysis, we review the financial performance of JSE-listed manufacturing companies for financial year 2025 and outline the strategic levers manufacturers must pull to not only withstand disruption, but to thrive in an era defined by rapid transformation.

Key themes

Financial performance

Some highlights include:

 

-3.2%

Decrease in revenue (decrease of 2.5% in previous FY)

215.3%

Increase in net profit (decrease of 145.7% in previous FY)

22.2%

Increase in net operating cash flows (increase of 15.5% in previous FY)

0.3%

Increase in total assets (decrease of 6.8% in previous FY)

0.3%

Increase in total equity (decrease of 11.7% in previous FY)

The Make domain

To thrive, manufacturing businesses must explore new domains of growth—markets where companies work across sector boundaries to meet fundamental human needs. In fact, PwC’s 29th Global CEO Survey proves just this. 52% of industrials and services (I&S) CEOs say their companies have competed in new sectors or industries in the last five years. 34% of I&S CEOs say that their C-suite leadership team has equipped their company to respond effectively to disruptions.

Compared to the manufacturing sector that we know, the Make domain will be a more diverse, tech-enabled zone in which firms integrate their capabilities and knowledge to create offerings that better meet customers’ increasingly complex needs. The new cast of players consists of classic manufacturers, along with IoT providers, AI firms, cybersecurity specialists, and robotics companies.

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Contact us

Nqaba Ndiweni

Nqaba Ndiweni

Africa Consumer, Industrial Products and Services (CIPS) Industry Leader, PwC South Africa

Tel: +27 (0) 11 797 4890

Pieter Theron

Pieter Theron

Industrials and Services Africa Leader, PwC South Africa

Tel: +27 (0) 11 287 0501

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