Welcome to our dedicated page for Sasol news (Ticker: SSL), a resource for investors and traders seeking the latest updates and insights on Sasol stock.
Sasol Limited (NYSE: SSL) is an international integrated energy and chemicals company with operations spanning across 37 countries. With a talented workforce exceeding 31,000 employees, Sasol excels in developing and commercializing advanced technologies, and building world-scale facilities that produce a variety of high-value products such as liquid fuels, chemicals, and low-carbon electricity.
Core Business Segments
- Energy Business: This segment focuses on the production and marketing of liquid fuels and pipeline gas, drawing from Sasol's upstream oil and gas interests and coal mining operations.
- Chemical Business: This segment generates the majority of the company's revenue by producing and marketing commodity and performance chemicals globally.
While maintaining a strong commitment to its home base in South Africa, Sasol is expanding internationally, leveraging its unique value proposition that combines the talent of its people with technological innovation. Over the past six decades, Sasol has been a pioneer in innovation, adapting its methods, facilities, and products to meet evolving market needs and stakeholder expectations. This dynamic approach has enabled the company to sustain long-term shareholder value.
Recent Achievements and Financial Condition
Despite challenging macro-economic conditions, including volatile oil and petrochemical prices and inflationary pressures, Sasol has continued to make significant strides. For the six months ended December 31, 2023, Sasol reported revenue of R136.3 billion, although this was lower than the prior period's R149.8 billion due to decreased chemical product prices. Earnings before interest and tax (EBIT) were R15.9 billion, reflecting a 34% decrease from the previous period.
The company also declared an interim dividend of 200 cents per share for the six months ended December 31, 2023. This decision underscores the company's confidence in its liquidity and solvency, ensuring that capital remains sufficient to support ongoing operations.
Current Projects and Partnerships
Sasol continues to invest in innovative projects and sustainable initiatives. Recent announcements include the company's commitment to reducing its environmental footprint and improving air quality, as evidenced by the appeal to the National Environmental Management: Air Quality Act, which was upheld, allowing Sasol to apply load-based limits for SO2 emissions from April 2025 to March 2030.
Additionally, Sasol's production and sales performance metrics for the three months ended September 30, 2023, and six months ended December 31, 2023, have been published, showcasing the company's ongoing operational improvements and strategic initiatives.
Overall, Sasol Limited remains a significant player in the energy and chemicals sectors, continually evolving to meet market demands and stakeholder expectations while delivering sustainable value to its shareholders.
Sasol (SSL) has issued a trading statement for H1 2024, reporting significant declines in key financial metrics. The company's adjusted EBITDA is expected to decrease between 11% and 22%, falling to R22-25 billion from R28 billion in the prior period.
The company projects Earnings Per Share (EPS) to decline 47-61% to R6.00-8.00 from R15.19, while Headline Earnings Per Share (HEPS) is expected to drop 26-36% to R13.00-15.00 from R20.37.
The earnings decline is attributed to a 13% drop in average Rand per barrel Brent Crude Oil price, lower refining margins, and a 5% decrease in sales volumes. The company also reported notable non-cash adjustments, including a R6.2 billion net loss from remeasurement items and R0.1 billion in unrealised losses on monetary assets translation. These impacts were partially offset by increased chemical basket prices and cost management efforts.
Sasol has released its production and sales metrics for H2 2024, highlighting several operational challenges and developments. The company took a Final Investment Decision for a destoning solution at Secunda Operations, with operations expected to start in H1 FY26. Civil unrest in Mozambique affected the Central Processing Facility, though it has since returned to full capacity.
A fire at the Natref refinery on January 4, 2025, caused infrastructure damage, with repairs expected to complete by February 2025. Secunda Operations faced challenges due to coal quality issues affecting gasifier and equipment availability. While International Chemicals revenue improved compared to H1 FY24, sales volumes were impacted by the East Cracker outage, which resumed operations in November 2024.
The company maintained its Mining and Gas guidance but revised SO and Natref volume outlook downward. ORYX production guidance was increased, while International Chemicals sales volume guidance was adjusted to 4-8% lower than FY24 due to weak demand and operational issues.
Sasol has released its production and sales performance metrics for the three months ended 30 September 2024. The company has made this information available on its official website, www.sasol.com, under the Investor Centre section. Interested parties can access the detailed report at https://www.sasol.com/investor-centre/financial-results.
For additional information or inquiries, stakeholders are encouraged to contact Sasol Investor Relations. The point of contact is Tiffany Sydow, VP Investor Relations, who can be reached at +27 (0) 71 673 1929 or via email at investor.relations@sasol.com.
Sasol has announced its Annual General Meeting (AGM) to be held electronically on Friday, 15 November 2024, at 09:00. Key dates include:
- Record date for notice: 4 October 2024
- Publication date: 17 October 2024
- Last day to trade: 5 November 2024
- Record date for attendance: 8 November 2024
- Proxy submission: 11-14 November 2024
- Results publication: 18 November 2024
The company reaffirmed its commitment to its 2021 climate approach and continues to optimize emission reduction pathways. Sasol remains focused on a sustainable transition and refining its strategic direction, including greenhouse gas (GHG) emission reduction roadmaps.
Sasol (SSL) has announced significant changes to its Board of Directors. Ms Muriel Dube has been appointed as the new Chairman of the Board, effective September 13, 2024. Dube, who joined the Board in 2018, brings extensive experience in sustainability, commercial, finance, and leadership roles. Following Dube's appointment, Dr Martina Flöel has been named the new Lead Independent Director.
The Board has also undergone committee restructuring. Mr David Eyton will now chair the Safety, Social and Ethics Committee and join the Audit Committee and Nomination and Governance Committee. Ms Katherine Harper has been appointed to the Remuneration Committee. These changes aim to leverage the Board's expertise as Sasol progresses towards a sustainable future business.
Sandstorm Gold Royalties (NYSE: SAND, TSX: SSL) has provided updates on drilling and exploration activities across its portfolio of streaming and royalty assets. Key highlights include:
1. Lundin Gold's Bonza Sur gold discovery at Fruta del Norte, with plans for a maiden resource estimate by mid-2025 and a potential new 10,000-15,000 tpd open pit mine.
2. High-grade drill results from Bonterra's Phoenix JV Moss Target, including 38.33 g/t gold over 1.1m.
3. Awalé Resources reported significant gold intercepts at Odienné, including 45.7 g/t gold over 32m at the Charger Zone.
4. Antipa Minerals completed Phase 1 drilling at Minyari Dome, expanding the GEO-01 discovery with near-surface high-grade gold mineralization.
5. Troilus Gold announced a new West Rim Zone discovery near its main deposit, with ongoing drilling to expand resources.
Sasol has filed its annual report on Form 20-F for the financial year ended 30 June 2024 with the US Securities and Exchange Commission (SEC). The report, which includes the annual financial statements, is identical to the version published on 20 August 2024. It is now available on the SEC's website, Sasol's own website, and can be obtained free of charge upon request from Sasol Investor Relations.
The report has also been incorporated into Sasol's Domestic Medium-Term Note programme and is available for inspection. Holders of these notes can access the report through a secure electronic connection if desired.
Sasol (SSL) has announced the appointment of Ms Elizna Viljoen as the new Group Company Secretary, effective January 1, 2025. Viljoen, who brings over 23 years of experience in the company secretarial field, will join Sasol from Anglo American. She holds a B.Com in Marketing Management and is a Fellow of the Chartered Governance Institute of South Africa. The Board of Directors expressed confidence in Viljoen's expertise to fulfill the role's responsibilities. Ms Helaine Joubert, the current Deputy Group Company Secretary, will continue to act as Group Company Secretary until December 31, 2024.
Sasol clarifies its greenhouse gas (GHG) reduction target amid media reports suggesting a possible revision. The company reaffirms its commitment to a 30% reduction by 2030 but is refining pathways to achieve this goal. Sasol emphasizes the need for agility in responding to the changing global landscape and energy security needs. The refinement process may involve shifts in feedstock, energy, and products to support a more sustainable pathway. Sasol is prioritizing value creation opportunities for a balanced approach across People, Planet, and Profit considerations. The company will provide a detailed update at its Capital Markets Day in 2025. Sasol's 2024 Integrated Report, available on their website, outlines more information on their approach.
Sasol (SSL) has published its annual reports for the financial year ended 30 June 2024. The reports include the Integrated Report, Annual Financial Statements, and Tax Report. These documents are now available on Sasol's website and can be obtained free of charge. KPMG, Sasol's external auditors, expressed an unmodified opinion on the annual financial statements. The company's annual report on Form 20-F will be filed with the US Securities and Exchange Commission (SEC) at a later date. Sasol has also updated its report on the application of the King IV corporate governance code, which is now available on their website.
FAQ
What is the current stock price of Sasol (SSL)?
What is the market cap of Sasol (SSL)?
What is Sasol Limited's core business?
Where does Sasol Limited generate most of its revenue?
How many employees does Sasol Limited have?
What recent financial performance has Sasol reported?
What environmental initiatives has Sasol undertaken?
What is Sasol's approach to sustainability?
Where can I find Sasol's latest financial reports?
What are Sasol's main products?
Is Sasol expanding internationally?
How can I contact Sasol's Investor Relations?
