Stefanutti Stocks has reported an increase in annual earnings, driven largely by a settlement agreement with Eskom relating to the Kusile Power Station project.The construction and engineering group on Tuesday said profit from continuing operations rose 202% to R632.2m in the year to end-February, while total profit for the year increased to R620m from R131m previously.HEPS rose 229% to 359.26c year on year.The results were supported by a R580m settlement reached with Eskom in November 2025 over long-running contractual disputes linked to Kusile.The company said the settlement materially strengthened its financial results, contributing significantly to revenue, operating profit and cash flow during the reporting period.Stefanutti Stocks and Eskom agreed to a full and final settlement after both parties had pursued various claims processes related to delays and completion disputes on the Kusile project.Revenue from continuing operations increased modestly to R7.84bn from R7.66bn, while operating profit before investment income more than doubled to R689m.Excluding the impact of the Kusile settlement and a R27m impairment of land and buildings, operating profit was R328m, compared with R333m in the prior period.The group announced the conclusion of its restructuring plan after securing a new five-year R850m funding facility with Standard Bank.Stefanutti Stocks said proceeds from the Kusile settlement and the disposal of its Mozambique business were used to reduce debt, lowering outstanding borrowings from R850m to R223m.The company’s order book increased to R17.2bn from R8.6bn previously, with R6bn related to projects outside South Africa. The order book shows the value of projects already secured but not yet delivered, and is used to gauge future revenue in the construction sector. The board did not declare a dividend for the year.