- 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.
Key
metrics
|
2022
|
2021
|
Change
%
|
EBIT (R
million)
|
61
417
|
16 619
|
>100
|
Adjusted
EBITDA1 (R million)
|
71
843
|
48 420
|
48
|
Headline earnings (R
million)
|
29
735
|
24 503
|
21
|
Basic earnings per
share (Rand)
|
62,34
|
14,57
|
>100
|
Headline earnings per
share (Rand)
|
47,58
|
39,53
|
20
|
Core headline earnings
per share2 (Rand)
|
68,54
|
27,74
|
>100
|
Dividend per share
(Rand)
|
|
|
|
- Interim
(Rand)
|
-
|
-
|
-
|
- Final
(Rand)
|
14,70
|
-
|
-
|
- Adjusted EBITDA is calculated by adjusting EBIT for
depreciation, amortisation, share-based payments, remeasurement
items, change in discount rates of environmental provisions, all
unrealised translation gains and losses, and all unrealised gains
and losses on our derivatives and hedging activities. We believe
adjusted EBITDA is a useful measure of the Group's underlying cash
flow performance. However, this is not a defined term under IFRS
and may not be comparable with similarly titled measures reported
by other companies. (Adjusted EBITDA constitutes pro forma
financial information in terms of the JSE Limited Listings
Requirements and should be read in conjunction with the basis of
preparation and pro forma financial information as set out in the
full set of audited summarised financial statements).
- Core HEPS is calculated by adjusting headline earnings per
share with non-recurring items, earnings losses of significant
capital projects (exceeding R4 billion) which have reached
beneficial operation and are still ramping up, all translation
gains and losses (realised and unrealised), all gains and losses on
our derivatives and hedging activities (realised and unrealised),
and share-based payments on implementation of B-BBEE transactions.
Adjustments in relation to the valuation of our derivatives at
period end are to remove volatility from earnings as these
instruments are valued using forward curves and other market
factors at the reporting date and could vary from period to period.
We believe core headline earnings are a useful measure of the
Group´s sustainable operating performance. (Core HEPS constitutes
pro forma financial information in terms of the JSE Limited
Listings Requirements and should be read in conjunction with the
basis of preparation and pro forma financial information as set out
in the full set of audited summarised financial statements.
Net asset
value
|
2022
|
2021
|
Change
%
|
Total assets (R
million)
|
419 548
|
360 743
|
16
|
Total liabilities (R
million)
|
226 351
|
208 272
|
9
|
Total equity (R
million)
|
193
197
|
152
471
|
27
|
Turnover
|
|
EBIT/(LBIT)
|
2021
|
2022
|
|
2022
|
2021
|
R
million
|
R
million
|
|
R
million
|
R
million
|
|
|
Energy
business
|
|
|
21 704
|
24
386
|
Mining
|
3
456
|
3 227
|
10 990
|
11
941
|
Gas
|
14
622
|
6 656
|
60 649
|
102
964
|
Fuels
|
27
959
|
(18 170)
|
|
|
Chemicals
business
|
|
|
60 597
|
67
275
|
Africa
|
24
072
|
6 957
|
29 360
|
41
926
|
America
|
981
|
8 116
|
46 038
|
55
419
|
Eurasia
|
7
552
|
4 680
|
26
|
56
|
Corporate
Centre
|
(17 225)
|
5 153
|
229
364
|
303
967
|
Group
performance
|
61
417
|
16 619
|
(27 454)
|
(28 229)
|
Intersegmental
turnover
|
|
201 910
|
275
738
|
External
turnover
|
|
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 Relations
Mobile: +27 (0) 71 600 9605; Email: alex.anderson@sasol.com
Matebello Motloung, Manager: Group Media Relations
Mobile: +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.