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 (SSL) generates a steady flow of news related to its energy and chemicals operations, financial performance, governance and climate strategy. The company regularly publishes production and sales metrics, trading statements and audited financial results that explain how factors such as oil prices, refining margins, sales volumes and impairments affect earnings, cash flow and net debt. These updates provide insight into the performance of the Southern Africa Energy & Chemicals business and the International Chemicals business.
Corporate governance and shareholder matters are another important source of Sasol news. Notices of the annual general meeting, details of record dates, and the publication of AGM results outline how shareholders vote on financial statements, remuneration policies, climate change strategies and the election of directors and committee members. These announcements show how Sasol’s governance structures, including the Audit Committee and the Safety, Social and Ethics Committee, are refreshed and overseen.
Sasol’s news flow also covers operational and strategic developments. Examples include updates on coal quality improvement projects, operational performance at Secunda Operations, Natref and Sasolburg, and decisions to mothball or close certain chemical plants in the United States and Europe. The company reports on progress against plans to strengthen its foundation business and to grow and transform its portfolio.
In the chemicals segment, Sasol International Chemicals issues news about new product launches and sustainability initiatives, such as the commercialization of a bio‑circular insect oil‑based surfactant for cleaning markets and collaborations on catalysts for sustainable aviation fuel. Renewable energy and decarbonisation steps, including power purchase agreements and virtual power purchase agreements, are also highlighted. Investors and observers who follow Sasol news can track these financial, operational, governance and sustainability developments over time.
On November 3, 2022, Sasol announced its upcoming Annual General Meeting (AGM) scheduled for 9:00 AM on December 2, 2022. The AGM will be held electronically and at Sasol Place, Johannesburg. Key dates include the record date for shareholders to receive the meeting notice on October 21, 2022, and the last day to trade being November 22, 2022. Proxy forms must be submitted by 9:00 AM on December 1, 2022. Results will be published on December 5, 2022. For more details, visit Sasol's website.
Sasol Limited announced the pricing of its US$750 million offering of guaranteed senior unsecured convertible bonds due 2027. The bonds will be issued at 100% of their principal amount, with a 4.5% annual coupon, payable semi-annually. Net proceeds will be utilized for general corporate purposes, including debt refinancing. The bonds' initial conversion price is set at US$20.3863, representing a 30% premium to the average share price. An application for trading on the Frankfurt Stock Exchange is anticipated following the November 8, 2022 closing date.
Sasol Limited announced the launch of a US$750 million offering of guaranteed senior unsecured convertible bonds, set to mature in 2027. The bonds are expected to pay a coupon of 4.0% to 4.5% per annum, with the proceeds primarily aimed at refinancing debt. The initial conversion price will be 30% to 35% above the average share price at the time of pricing. A general meeting for shareholder approvals will be convened within 14 months after the closing date on November 8, 2022. The bonds will trade on the Frankfurt Stock Exchange.
Sasol has published its production and sales metrics for the quarter ended 30 September 2022. In South Africa, operations faced disruptions due to a strike by Transnet employees, leading Sasol to declare force majeure on local supply and export of some products. This affected production rates at select plants while the Natref refinery remained operational. At Lake Charles, a fire occurred on 15 October 2022 at the Ziegler alcohol unit, although there were no injuries reported. Further investigations are ongoing to assess damage and repair timelines.
Sasol Limited has received approval from JSE Limited for its ZAR 15,000,000,000 Domestic Medium-Term Note Programme Memorandum. This memorandum is accessible for inspection at the Issuer's registered office and on the Company's website. Investors can find additional details on the JSE's website. For inquiries, investors can contact Tiffany Sydow, the Investor Relations Officer, at +27 (0) 71 673 1929 or via email at investor.relations@sasol.com.
Sasol and ITOCHU Corporation have signed a Memorandum of Understanding (MoU) to explore green ammonia markets, focusing on its use as a bunkering fuel and for power generation. The agreement aims to incorporate ITOCHU's participation in Sasol's green ammonia projects, with potential financial support from Japan. Signed at TICAD 8 in Tunisia, this collaboration emphasizes green hydrogen's role in achieving net-zero emissions, positioning South Africa as a hub for green hydrogen production. Sasol's initiatives reinforce its commitment to energy transition and industrial development.
Sasol has published its suite of annual reports for the financial year ended 30 June 2022, including the Integrated Report, Sustainability Report, Climate Change Report, Annual Financial Statements, and Annual Report on Form 20-F. PricewaterhouseCoopers Inc. provided an unmodified opinion on the annual financial statements released on 23 August 2022. The annual report on Form 20-F was also filed with the US SEC and contains no changes from the previous publication. These documents are available for download on Sasol's website and can be requested through Investor Relations.
Sasol reported a robust financial performance for the year ended June 30, 2022, with EBIT exceeding R61 billion, up over 100% year-over-year, driven by higher energy and chemicals prices. Basic earnings per share surged to R62.34, more than doubling the previous year's figures. The company declared a final dividend of R14.70 per share, reflecting strong capital health, with net debt reduced to US$3.8 billion. Despite operational challenges affecting volumes, Sasol's transformation program led to improved operational stability in the second half of the year.
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 Chemicals is set to enhance sustainability at its Brunsbüttel plant in Germany by doubling its use of green steam from a new biomass cogeneration facility, to be constructed by Hamburger Energiewerke by 2024. Once operational in 2025, this facility will provide at least 70,000 megawatt hours of steam and cut the plant's CO2 emissions by about 13,000 metric tons annually. This initiative is part of Sasol’s goal to reduce scope 1 and 2 emissions by 30% by 2030, utilizing renewable feedstock from local agricultural waste.
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