Sasol has reported a slight decline in revenue, 10% lower than the previous year.
Now at R122,1 billion, Sasol said the decline is largely due to a 13% knock in the average Rand per barrel Brent crude oil price and a significant decline in refining margins and fuel price differentials.
In addition, there was a 5% decrease in sales volumes as a result of lower production and lower market demand.
Adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA) was reported at R23,9 billion, owing to a lower revenue.
There was however, an increase in the contribution of International Chemicals from 6% to 13%.
The Earnings before interest and tax (EBIT) took a 40% hammering, to R9,5 billion.
Sasol said this is due to a net loss of R6,2 billion from remeasurement items compared to a net loss of R5,8 billion last year, mainly due to further impairments of the Secunda liquid fuels refinery cash generating unit (CGU) of R5,0 billion and the Sasolburg liquid fuels refinery CGU of R0,6 billion.
Both CGUs remain fully impaired, resulting in amounts capitalised during the current period being impaired.
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 period.
As a result of the above, basic earnings per share (EPS) decreased by 52% to R7,22 per share and Headline earnings per share (HEPS) decreased by 31% to R14,13 per share compared to the prior period.
Cash generated by operating activities increased by 20% to R17,6 billion compared to the last year, due to changes in working capital. Capital expenditure, excluding movement in capital project related payables, amounted to R15,0 billion, 6% lower than the prior period.
Total debt was at R116,9 billion (US$6,2 billion) on the 31st of December 2024, compared to R117,7 billion (US$6,5 billion) at 30 June 2024.
Sasol deposited R5,4 billion (US$0,3 billion) on the Revolving credit facility during the current period,leaving net debt at R81,8 billion (US$4,3 billion) compared to R73,7 billion (US$4,1 billion) at 30 June 2024.