SASOL LTD ORD - SASOF STOCK NEWS

Sasol reported strong financial results for the year ended June 30, 2022, with EBIT soaring to R61.4 billion, over 100% higher than last year, driven by rising energy and chemical prices. Adjusted EBITDA also rose 48% to R71.8 billion. Headline earnings increased by 21% to R29.7 billion, translating to a basic EPS of R62.34, more than doubling from the previous year. A final dividend of 1,470 cents per share was declared. Despite operational challenges earlier in the year, the company enjoyed improved stability in operations during the second half.

Sasol reported strong financial results for the year ended June 30, 2022, driven by higher crude oil and chemical prices. Adjusted EBITDA is expected to rise by 36% to 56%, reaching R66 to R75.6 billion. Earnings per share (EPS) are projected to increase over 100%, from R14.57 to between R60.59 and R63.51. However, operational challenges reduced production levels, affecting overall performance. Significant non-cash adjustments include unrealized losses of R5.2 billion, though notable gains were realized from divestments. Detailed annual results will be released on August 23, 2022.

Sasol has published its production and sales performance metrics for the year ended 30 June 2022. The update includes a force majeure declaration on petroleum product supply due to crude oil shipment delays affecting Natref operations; however, restoration of supply is underway with production capacity expected to recover by the end of July 2022. Sasol is finalizing its financial year-end processes and will release its annual financial results on 23 August 2022. Investors are encouraged to attend an upcoming conference call for detailed insights.

Sasol's subsidiary, SSA, has completed a transaction selling a 30% equity interest in the ROMPCO pipeline to iGAS and Companhia Mocambiçana de Gasoduto, after exercising pre-emptive rights. The deal is valued at R4.1 billion, with a potential deferred payment of R1 billion by June 2024, contingent upon meeting specific milestones. Following the sale, Sasol retains a 20% interest in ROMPCO and will continue operational oversight. This divestment aligns with Sasol's ongoing asset divestment strategy initiated in March 2020, reaffirming its commitment to the integrated natural gas sector in Southern Africa.

Sasol Limited reported its interim results for the six months ending December 31, 2021, showcasing a 12% increase in EBIT to R24.3 billion. This growth was driven by higher crude oil and chemicals prices despite operational challenges at Secunda Operations. Notably, total assets rose 9% to R394.2 billion, while total liabilities reached R221.6 billion, representing a 6% increase. However, headline earnings fell 20% to R9.5 billion. The company opted not to declare an interim dividend amidst macroeconomic uncertainties. Management changes were announced in the mining and energy sectors.

Sasol is anticipating a mixed financial performance for the half-year ending December 31, 2021, mainly due to better Brent crude oil prices and refining margins. Adjusted EBITDA is projected to rise by 66% to 76%, reaching between R30.9 billion and R32.7 billion. However, lower sales volumes for chemicals and energy have partially offset these gains. Earnings per share are expected to range between R22.81 and R25.15, with headline earnings per share decreasing by 16% to 26%. Notable non-cash adjustments include unrealised losses of R4.9 billion on financial instruments.

Sasol has released production and sales performance metrics for the six months ending December 30, 2021. The report is available on its website under the Investor Centre section. Sasol highlights the potential impacts of COVID-19 on its operations and emphasizes forward-looking statements regarding business strategies, capital investments, and sustainability efforts. The company is focusing on mitigating risks, optimizing operations, and pursuing low-carbon initiatives. Investors are encouraged to review the full report for comprehensive details on performance metrics.

Sasol Limited has revised its Secunda Operations (SO) forecast production volumes for financial year 2022 to 6.7–6.8 million tons, down from previous estimates due to operational challenges. Factors include delays during a September shutdown, power supply interruptions, and safety incidents, leading to over 1 million tons of lost production. Despite improving gasifier and boiler availability, coal stockpile levels have dropped below targets, prompting coal purchases on the open market. Sasol aims to restore production levels and improve coal quality in the coming months.

Sasol is leading a feasibility study for the Boegoebaai green hydrogen project, which has been designated a Strategic Integrated Project in South Africa's National Development Plan. The study, expected to take 24 months, aims to explore Boegoebaai's potential as an export hub for green hydrogen and ammonia. Sasol has partnered with the Northern Cape Development Agency and received joint funding from the Industrial Development Corporation. The project aligns with South Africa's goal to become a global green hydrogen player, promising sustainable job creation and infrastructure investment.