Sasol says earnings down 22% in year to June
Global integrated chemicals and energy company Sasol said on Monday its headline earnings per share dropped 22% to R27.44 in the year to June 30.
Earnings before interest, taxes, depreciation, and amortization rose 10% to R52-billion and the company declared a dividend per share of R12.90.
Sasol said its resilient 2018 performance was underpinned by higher sales and production volumes in the second half of the year, partly enabled by higher global oil prices which contributed towards improved product prices and margins, notwithstanding continued exchange rate volatility.
Overall, its operational performance was satisfactory, although unplanned electricity supply interruptions by power utility Eskom and two internal outages at Secunda Synfuels Operations negatively impacted volumes.
Sasol said 2019 would be a defining year with the start-up of the Lake Charles Chemicals Project, a catalyst for transforming its earnings profile.
Mozambique, its other key growth area, remained central to the company's gas strategy where it was stepping up efforts to secure long-term gas feedstock.
"The current economic climate continues to remain highly volatile and uncertain," the company said.
"While oil price and foreign exchange movements are outside our control and may impact our results, our focus remains firmly on managing factors within our control, including volume growth, cost optimisation, effective capital allocation, focused financial risk management and maintaining an investment grade credit rating."
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation