Welcome to our dedicated page for Sasol Ord news (Ticker: SASOF), a resource for investors and traders seeking the latest updates and insights on Sasol Ord stock.
The Sasol Ltd Ord (SASOF) news page on Stock Titan aggregates official announcements and market communications related to Sasol Limited, a company in the petroleum lubricating oil and grease manufacturing industry. Investors and followers of SASOF can use this feed to review how Sasol reports on its financial performance, governance developments, climate strategy and operational updates across its Southern Africa Energy and Chemicals and International Chemicals segments.
News items include audited financial results for the year ended 30 June, where Sasol discusses turnover, adjusted EBITDA, impairments, free cash flow, net debt and segment performance. The company also issues trading statements when it expects earnings per share to differ significantly from the prior period, and it publishes production and sales metrics that describe volume trends, operational disruptions and management responses in areas such as mining, fuels, gas and chemicals.
Governance and corporate actions form another key category of SASOF news. Sasol releases notices and results of its Annual General Meeting, covering shareholder voting on financial statements, remuneration policies, climate-related advisory resolutions, director elections, committee appointments and share repurchase authorities. Additional announcements describe changes in board leadership, committee composition and the appointment of key governance roles such as the Group Company Secretary.
Climate and energy transition topics also feature in Sasol’s news flow. The company communicates on its greenhouse gas reduction target, emissions reduction roadmap and climate change mitigation and adaptation strategy, and reports on renewable energy power purchase agreements and low-carbon projects at facilities like Natref. Strategic updates from events such as Capital Markets Day outline plans to restore the Southern Africa value chain, reset the International Chemicals business and progress growth and transformation objectives. Users interested in SASOF can consult this news page regularly to review these official disclosures in one place.
On July 1, 2021, Sasol Limited announced the resignation of Chief Financial Officer (CFO) Paul Victor, effective June 30, 2022. He will assist during a six-month transition period to facilitate the handover of responsibilities. Mr. Hanré Rossouw, currently CFO of Royal Bafokeng Platinum, will succeed Victor as CFO and executive director on July 1, 2022, after joining the company on April 4, 2022. Rossouw brings extensive experience in debt restructuring and corporate finance, enhancing Sasol’s leadership during upcoming business challenges.
Sasol announced the approval from the Competition Tribunal for the sale of its Air Separation Units (ASUs) to Air Liquide. This approval fulfills the last condition for the transaction, which is expected to close within 10 business days. The deal, worth R5.525 billion and EUR148.75 million, will help Sasol reduce debt. Several commitments were made regarding joint renewable power procurement and economic empowerment. The financial implications will be detailed in Sasol's 2021 annual report.
Sasol South Africa Ltd has signed a sale agreement to divest a 30% interest in the Republic of Mozambique Pipeline Investments Company (ROMPCO) for an initial consideration of R4.145 billion and potential deferred payments up to R1 billion by June 30, 2024. Post-transaction, Sasol will retain 20% ownership of ROMPCO and continue its operations under existing agreements. This divestment aligns with Sasol's strategic plan while reaffirming its commitment to Mozambique's gas sector.
Sasol has released its production and sales metrics for the nine months ended March 31, 2021, and outlined a new operating model aimed at addressing the impacts of COVID-19 and fluctuating oil prices. The company anticipates an improvement of at least 20% in headline earnings per share (HEPS) and earnings per share (EPS) for the financial year ending June 30, 2021, compared to the previous year's losses. Detailed metrics and guidance can be found on the Sasol website, with full audited results scheduled for release on August 16, 2021.
Sasol Limited announced the pricing of US$1.5 billion in SEC-registered senior notes through its subsidiary, Sasol Financing USA LLC. This includes $650 million of senior notes due 2026 at an interest rate of 4.375% and $850 million due 2031 at 5.50%. The offering saw significant interest, with orders exceeding $4.6 billion, indicating strong market confidence. Proceeds will be used to reduce outstanding revolving credit facility balances, ensuring leverage neutrality. The offering is expected to close on March 18, 2021.
Sasol reported strong financial results for the six months ending December 31, 2020, with earnings surging over 100% to R15.3 billion, despite a 23% dip in oil prices. Adjusted EBITDA decreased by only 6% to R18.6 billion, aided by effective cost management. Key metrics include a working capital ratio of 14.9%, profit before interest and tax of R21.7 billion, and basic earnings per share at R23.41. The company successfully reduced its debt by R28 billion and maintained a liquidity headroom of over R53 billion. A final investment decision was made on a US$760 million Mozambique project for gas monetization.
Sasol and GrnCat have partnered to recover wax from spent catalysts, promoting responsible production and consumption. Since its 2018 commissioning, over 6,000 tons of clean wax have been reused, reducing waste volumes by up to 50%. This initiative has also created 30 new jobs. GrnCat has optimized its processes, increasing capacity by 60% to 400 tons per month. Sasol prioritizes Sustainable Development Goals, particularly SDG12, to ensure sustainability in their operations. The collaboration exemplifies a commitment to continuous improvement and community support.
Sasol reported on the impact of Hurricane Laura, which struck on August 27, 2020, near its Lake Charles Chemical Complex in Louisiana. Fortunately, all 800 employees are safe, but many have suffered home damage. The company is providing financial aid and support for recovery. Damage assessments revealed only moderate wind damage to peripheral structures, with no severe impact on major equipment. Regular operations have resumed, though full power restoration is critical for restarting ethane cracker units. Reliable service is expected by mid-October. Sasol's ongoing partner search for its U.S. Base Chemicals business remains unaffected.
Sasol announces the completion of a Sale Agreement with Air Liquide for the sale of its air separation business in Secunda, comprising 16 units producing up to 42,000 tons of oxygen daily. The deal, valued at approximately R8.5 billion (EUR 148.75 million), includes a long-term gas supply agreement lasting 15 years. This transaction aligns with Sasol's divestment strategy to enhance efficiency and reduce greenhouse gas emissions. The proceeds will help repay near-term debt, while anticipated annual cash outflows are projected to be R650 million to R1.2 billion.
Sasol is focusing on environmental sustainability by advancing its climate change strategy, targeting lower-carbon operations. The company is exploring various initiatives to significantly reduce greenhouse gas emissions, specifically through carbon dioxide (CO2) utilization technologies. An invitation is extended for interested parties to participate in a Request for Information (RFI) to collaborate on CO2 utilization technologies aimed at Sasol's operations in Secunda and Sasolburg, South Africa, with submissions due by September 30, 2020.