| Sasol Limited |
| In terms of paragraph 3.4(b)(i) of the Listing Requirements of the JSE Limited (JSE), a company listed on the JSE is required to publish a Trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the next period to be reported on, will differ by at least 20% from the financial result for the previous corresponding period. |
| Accordingly, stakeholders are advised that for the six months ending 31 December 2025: |
- Adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA*) is expected to be between R22 billion and R25 billion compared to the prior half-year adjusted EBITDA of R28 billion, representing a decrease of between 11% and 22%;
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- Earnings per share (EPS) are expected to be between R6,00 and R8,00 compared to the prior half-year EPS of R15,19 (representing a decrease of between 47% and 61%); and
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- Headline earnings per share (HEPS) are expected to be between R13,00 and R15,00 compared to the prior half-year HEPS of R20,37 (representing a decrease of between 26% and 36%); and
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| The decrease in earnings in the period is primarily due to: |
| A 13% decline in the average Rand per barrel of Brent Crude Oil price and a significant decline in refining margins and fuel price differentials; |
- A 5% decrease in sales volumes associated with lower production and/or lower market demand as detailed in the Production and Sales Metrics published on 23 January 2025, which can be found on our website: https://www.sasol.com/sasolsens/production-and-sales-metrics-six-months-ended-31-december-2024;
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- Notable non-cash adjustments (before taxation) including:
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- A net loss of R6,2 billion from remeasurement items compared to a net loss of R5,8 billion in the prior half year, mainly due to the Secunda and Sasolburg liquid fuels refinery cash-generating units remaining fully impaired. The full amount of costs capitalised during the current period of R5,6 billion are impaired;
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- Unrealised losses of R0,1 billion on the translation of monetary assets and liabilities, and valuation of financial instruments and derivative contracts compared to unrealised gains of R2,7 billion in the prior half year.
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| These negative financial impacts were partially offset by an increase in average chemicals basket prices, stringent cost management and efficient capital expenditure. |
| The financial information underpinning this trading statement has not been reviewed and reported on by the Company's external auditors. |
| Sasol remains focused on improving the performance of the business and will present its 2025 interim financial results, including more detail on improvement plans, on Monday, 24 February 2025 at 09h00 (SA time). This will be followed by a market call, hosted by President and Chief Executive Officer, Simon Baloyi, and Chief Financial Officer, Walt Bruns, to address questions. |
| Please connect to the call via the webcast link: https://www.corpcam.com/Sasol24022025 or teleconference call link: https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNum ber=8853546&linkSecurityString=26eaaf0156 |
| * Adjusted EBITDA is calculated by adjusting operating profit for depreciation, amortisation, share-based payments, remeasurement items, change in discount rates of our rehabilitation provisions, all unrealised translation gains and losses, and all unrealised gains and losses on our derivatives and hedging activities. |
| Adjusted EBITDA is not a defined term under International Financial Reporting Standards and may not be comparable with similarly titled measures reported by other companies. The aforementioned adjustments are the responsibility of the directors of Sasol. The adjustments have been prepared for illustrative purposes only and due to their nature, may not fairly present Sasol´s financial position, changes in equity, results of operations or cash flows. |
| For the full document click the link below: |
| Sasol Limited |
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