- Black-owned businesses spend in South Africa up 40% to R33,6 billion of R55,8 billion B-BBEE spend
- Invested R1,2 billion in skills development
- Key terms agreed with IPPs for more than 600MW of renewable energy for SA Operations
- Balance sheet strengthened with net debt down to US$3,8 billion
- Reinstatement of dividend of R14,70 per share
- Earnings before interest and tax (EBIT) up by more than 100% to R61,4 billion
- Earnings per share up more than 100% to R62,34, core headline earnings per share up more than 100% to R68,54
JOHANNESBURG, Aug. 23, 2022 /PRNewswire/ -- Sasol delivered a strong set of financial results against the backdrop of increased volatility resulting from ongoing geopolitical tensions, extended COVID-19 lockdowns and global supply chain disruptions. We benefitted from higher energy and chemicals prices, as well as strong cost and capital discipline through the delivery of our Sasol 2.0 transformation programme. This was offset by lower volume performance mainly due to the operational challenges experienced in the first half of the financial year. We have seen improved performance on the back of more stable operations in the second half of the financial year.
Earnings before interest and tax (EBIT) of R61,4 billion increased by more than 100% compared to the prior year, driven by higher crude oil prices, refining margins and chemical prices. This also resulted in a strong gross margin improvement compared to the prior year.
Dividend
A final gross cash dividend of South African 1 470 cents per share (30 June 2021 nil cents per ordinary share) has been declared for the year ended 30 June 2022. The cash dividend is payable on the ordinary shares and the Sasol BEE ordinary shares. The Board is satisfied that the liquidity and solvency of the company, as well as capital adequacy remaining after payment of the dividend, are sufficient to support the current operations for the ensuing year. The dividend has been declared out of retained earnings (income reserves). The South African dividend withholding tax rate is 20%. At the declaration date, there are 629 367 128 ordinary and 6 331 347 Sasol BEE ordinary shares in issue. The net dividend amount payable to shareholders who are not exempt from dividend withholding tax, is 1 176 cents per share, while the dividend amount payable to shareholders who are exempt from dividend withholding tax is 1 470 cents per share.
Sasol Limited's Annual Financial Statements for the year ended 30 June 2022 (the Annual Financial Statements) have also been published on the Company's website at : https://www.sasol.com/investor-centre/financial-results.
Copies of the full announcement and the Annual Financial Statements may also be requested from the Investor Relations office, investor.relations@sasol.com.
The JSE link is as follows: https://senspdf.jse.co.za/documents/2022/JSE/ISSE/SOL/FY22Result.pdf.
The President and Chief Executive Officer and Chief Financial Officer will share the results on Tuesday, 23 August 2022 at 09:00 (SA time) followed by a conference call.
Please connect to the call via the webcast link: https://www.corpcam.com/Sasol23082022.
Or via teleconference: https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNumber=3629805&linkSecurityString=7a93dfa35.
Issued by:
Alex Anderson, Senior Manager: Group Media Relations and External RelationsMobile: +27 (0) 71 600 9605; Email: alex.anderson@sasol.com
Matebello Motloung, Manager: Group Media RelationsMobile: +27 (0) 82 773 9457; Email: matebello.motloung@sasol.com
About Sasol:
Sasol is a global chemicals and energy company. We harness our knowledge and expertise to integrate sophisticated technologies and processes into world-scale operating facilities.
We strive to safely and sustainably source, produce and market a range of high-quality products globally.
Please visit www.sasol.com for more information.
About Sasol's Information Privacy Policy:
We wish to inform you about the processing of your Personal Information by Sasol South Africa Limited and your rights under applicable data protection law, as interpreted and included in Sasol Information Privacy Policy.
Within our company, only Sasol Group Media Relations will receive your Personal Information to fulfil the purpose of maintaining the relationship with the receiver in his/her capacity as a member of the media. You have the right to request for the correction or deletion of your Personal Information stored by us at address: Sasol Place, 50 Katherine Street, Sandton in Johannesburg. You also have a right to restrict the processing of your Information. To exercise your privacy rights or find out more about Information Privacy Policy, kindly contact our Privacy Office on: privacy@sasol.com.