SOL: Sasol Limited: Production and Sales Metrics for The Nine Months Ended 31 March 2021; New Operating Model and Trading Statement for Financial Year 30 June 2021
Sasol has released its production and sales metrics for the nine months ended March 31, 2021, and outlined a new operating model aimed at addressing the impacts of COVID-19 and fluctuating oil prices. The company anticipates an improvement of at least 20% in headline earnings per share (HEPS) and earnings per share (EPS) for the financial year ending June 30, 2021, compared to the previous year's losses. Detailed metrics and guidance can be found on the Sasol website, with full audited results scheduled for release on August 16, 2021.
- Expected HEPS improvement of at least 20% for FY21.
- Anticipated EPS increase of over 20% for FY21.
- Introduction of a new operating model enhancing agility and cost competitiveness.
- Financial information is not reviewed by external auditors.
- Potential impact of adjustments from the year-end closure process on FY21 results.
JOHANNESBURG, April 29, 2021 /PRNewswire/ --
Production And Sales Metrics For The Nine Months Ended 31 March 2021
Sasol has published its production and sales metrics for the nine months ended 31 March 2021 on the Company´s website, under the Investor Centre section:
https://www.sasol.com/investor-centre/financial-reporting/business-performance-metrics
New Operating Model
As previously communicated, Sasol's response plan to mitigate the impact of the COVID-19 pandemic and lower oil prices included near-term deleveraging measures together with a reset of the strategy and operating model to position the business for sustained profitability in a low oil price environment. The new operating model is now in place and allows the business to be more agile, cost competitive and customer focused.
The non-financial information contained in the business performance metrics for the nine months ended 31 March 2021 has been presented in accordance with the new operating model. The financial information has been restated for financial years 2019, 2020 and half year 2021.
Additional information, including a revised overview of the business and modelling guidance for analysts and investors, is available on Sasol's website:
https://www.sasol.com/investor-centre/reporting/other-market-updates/new-operating-model
Trading Statement For The Financial Year Ending 30 June 2021
Sasol's shareholders are advised that for the financial year ending 30 June 2021 (FY21) headline earnings per share (HEPS) are expected to improve by at least
For the six months ended 31 December 2020, Sasol reported HEPS of R19,16 per share and EPS of R23,41 per share.
Sasol's FY21 results may still be impacted by a number of factors including adjustments resulting from the year-end closure process. A comprehensive trading statement will be published as soon as there is more certainty.
The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors. Sasol's audited FY21 results will be announced on Monday, 16 August 2021.
For further information, please contact:
Sasol Investor Relations,
Tiffany Sydow, Investor Relations Officer
Telephone: +27 (0) 71 673 1929
investor.relations@sasol.com
Disclaimer - Forward-looking statements
Sasol may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, expectations, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, the impact of the novel coronavirus (COVID-19) pandemic on Sasol's business, results of operations, financial condition and liquidity and statements regarding the effectiveness of any actions taken by Sasol to address or limit any impact of COVID-19 on its business; statements regarding exchange rate fluctuations, changing crude oil prices , volume growth, increases in market share, total shareholder return, executing our growth projects (including LCCP), oil and gas reserves, cost reductions, our climate change strategy and business performance outlook. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavour", "target", "forecast" and "project" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors and others are discussed more fully in our most recent annual report on Form 20-F filed on 24 August 2020 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
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