Sasol's earnings rebound with help from Transnet payout, cost cuts

Image credit: Sasol

The company, which produces fuel and chemicals from coal and gas, posted basic earnings per share of R10.60 for the year ended 30 June, compared to a R69.94 loss per share last year.

Sasol also benefited from a R4.3bn payout from Transnet, after it claimed in a legal suit that the state-owned logistics firm had overcharged for oil transportation over several years.

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The company said its turnover fell 9%, mainly due to lower sales volumes and reductions in rand oil prices and refining margins.

However, it managed to keep cash fixed cost increases below inflation, while capital expenditure of R25.4bn was 16% lower than the previous year.

Sasol also recorded significantly lower impairments of R20.7bn rand, compared with R74.9bn in the previous year.

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Asset writedowns in the 2025 financial year were related to its Secunda and Sasolburg liquid fuels refinery operations, Mozambique gas production sharing agreement and exploration project, and Italian chemicals business.

The bulk of Sasol's impairments in the previous year was related to its US chemicals operations, hit by low prices and weak demand.

Sasol once again skipped dividend payments as its $3.7bn net debt remained above the $3bn debt cap in terms of its dividend policy.