COMPANY RESULTS: Sasol profits slide amid deeper write-downs
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GUEST – Simon Baloyi – CEO of SASOL
Sasol Limited reported a 52% decline in basic earnings per share (EPS) to R7.22 for the six months ended 31 December 2024, while headline earnings per share (Heps) dropped 31% to R14.13. The company attributed the weaker performance to a challenging operating environment, with revenue falling 10% to R122.1 billion due to lower oil prices and weaker refining margins. Adjusted Ebitda declined by 15% to R23.9 billion.
The revenue decline was driven by a 13% drop in the average rand-per-barrel Brent crude oil price and a 5% reduction in sales volumes. Lower production and weaker market demand, as outlined in Sasol’s Production and Sales Metrics published on 23 January 2025, also contributed to the decline.
Sasol Limited reported a 52% decline in basic earnings per share (EPS) to R7.22 for the six months ended 31 December 2024, while headline earnings per share (Heps) dropped 31% to R14.13. The company attributed the weaker performance to a challenging operating environment, with revenue falling 10% to R122.1 billion due to lower oil prices and weaker refining margins. Adjusted Ebitda declined by 15% to R23.9 billion.
The revenue decline was driven by a 13% drop in the average rand-per-barrel Brent crude oil price and a 5% reduction in sales volumes. Lower production and weaker market demand, as outlined in Sasol’s Production and Sales Metrics published on 23 January 2025, also contributed to the decline.