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Sasol Ltd (SSL.N)

SSL.N on New York Stock Exchange

21 Oct 2016
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$0.29 (+1.02%)
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Latest Key Developments (Source: Significant Developments)

South Africa court dismisses review on Sasol piped-gas tariff
Tuesday, 18 Oct 2016 06:14am EDT 

South Africa's Energy Regulator NERSA: S.Africa's Energy Regulator NERSA- Court held the application to review maximum price methodology almost two years after methodology was approved is unreasonable . Sa's NERSA - Subsequently, the court dismissed the applicants’ review application with costs . S.Africa's NERSA- Maximum price methodology remains valid. Nersa will continue to implement current methodology, monitor and enforce compliance (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

Sasol FY HEPS down 17 pct to r41,40
Monday, 12 Sep 2016 01:14am EDT 

Sasol Ltd : Jse: Sol - Solbe1 - Audited Financial Results For The Year Ended 30 June 2016 . FY headline earnings per share down 17 pct to r41,40, despite an average 25 pct decline in rand oil prices . Performance chemicals up 1,8 pct, base chemicals down 2,6 pct - liquid fuels remained flat, 2% up on market guidance . Earnings attributable to shareholders for year ended 30 June 2016 decreased by 55 pct to r13,2 billion from r29,7 billion in prior year . Operating profit of r24,2 billion decreased by 48 pctcompared to prior year on back of challenging and highly volatile global markets. . Board has declared a final gross dividend of r9,10 per share (21 pct lower compared to prior year). Final dividend cover was 2,8 times at 30 June 2016 (30 june 2015: 2,7 times) . Liquid fuels sales volumes for energy sbu in southern africa to be approximately 61 million barrels for the 2017 financial year . Base chemicals and performance chemicals sales volumes for the 2017 financial year to be higher than prior year . Sees rp cash flow contribution to range between r15 billion and r20 billion; - bpep cash cost savings to achieve an annual run rate of r5,4 billion by financial year 2018 . Sees capital expenditure, including capital accruals, of r75 billion for 2017 and r60 billion in 2018 as we progress with execution of our growth plan and strategy.  Full Article

Sasol raises price tag for Lake Charles project
Tuesday, 23 Aug 2016 02:33am EDT 

Sasol Ltd : Project is under construction near Lake Charles, Louisiana in USA, adjacent to Sasol's existing chemical operations . An independent third party review of estimate has also been carried out . Detailed review has confirmed that total capital cost for project is expected to be $11 bln, which includes site infrastructure and utility improvements . Cash savings that have been achieved from company's low oil price response plan, and cost savings resulting from business performance enhancement programme, are both well ahead of previously communicated targets . This is an increase of $2.1 bln from original estimate at time of final investment decision (FID) in October 2014 . At June 30 2016, capital expenditure to date on LCCP was $4.8 bln, and overall project completion was around 50 pct . Schedule for LCCP remains same as communicated on June 6 2016 . At June 30 2016, capital expenditure to date on LCCP was $4.8 bln, and overall project completion was around 50 pct . First unit, linear low-density polyethylene unit, is expected to achieve beneficial operation in second half of calendar year 2018 . Remaining derivative units will reach beneficial operation by second half of 2019 . Even though expected capital expenditure for LCCP has increased, we do not expect this to result in company exceeding its self-imposed gearing targets.  Full Article

Sasol sees fy HEPS down between 10-30 pct
Monday, 6 Jun 2016 01:10am EDT 

Sasol Ltd : Heps for financial year ending 30 June 2016 are expected to decrease by between 10 pct and 30 pct (approximating r4,98 to r14,93 per share) . Volatile macroeconomic environment, in particular lower crude oil prices, has had a significant impact on earnings .Fy EPS are expected to decrease by between 53% and 73% (approximating r25,82 to r35,56 per share).  Full Article

Sasol Ltd declares final gross dividend
Monday, 7 Sep 2015 02:05am EDT 

Sasol Ltd:Says it has declared a final gross dividend of R11,50 per share (15 pct lower than the prior year).The dividend payment date is Oct. 12.  Full Article

Sasol Ltd gives FY 2015 earnings guidance
Friday, 7 Aug 2015 02:00am EDT 

Sasol Ltd:Headline EPS for FY 2015 is expected to decrease by between 14 pct and 19 pct (about 8,42 Rand to 11,43 Rand per share).EPS for FY 2015 is expected to range between 3 pct decrease and 2 pct increase (about 1,46 Rand decrease per share to 0,97 Rand increase per share), off 2014 FY base of 60,16 Rand and 48,57 Rand respectively.  Full Article

Sasol Ltd cuts 1,500 jobs as oil price slumps - WSJ
Monday, 9 Mar 2015 09:25am EDT 

Sasol Ltd:Has cut 1,500 jobs and said more will go, the latest layoffs in a global oil sector contending with the commodity’s price rout - The Wall Street Journal.Head count at the company will be 'dramatically down' by June, with Sasol pressing ahead with steep cuts in capital spending and a reduction in its annual dividend.On top of the 1,500 voluntary redundancies and early retirements completed by Dec. 31, Sasol has cut an additional 100 jobs so far this year.There are at least a further 300 identified positions that Sasol plans to eliminate in the next few months.The company also isn’t filling about 1,000 vacant positions.  Full Article

Sasol Ltd declares interim cash dividend
Sunday, 8 Mar 2015 11:06pm EDT 

Sasol Ltd:Declared cash dividend of 700,00 South African cents per ordinary share.Record date April 10.Payment date April 13.  Full Article

Sasol Ltd gives H1 2015 earnings outlook
Friday, 6 Feb 2015 07:00am EST 

Sasol Ltd:Expects H1 2015 headline earnings per share (HEPS) to increase by between 3 pct and 9 pct (about 0,91 Rand to 2,72 Rand).Expects H1 2015 earnings per share (EPS) to increase by between 51 pct and 57 pct (about 10,65 Rand to 11,90 Rand).Says Excluding the impact of notable once-off items, net impairments charges, stock movements and the share-based payment expense, EPS would have decreased by between 21 pct and 27 pct.  Full Article

Sasol Ltd completes $4 bln credit facility
Monday, 22 Dec 2014 10:06am EST 

Sasol Ltd:Says completion of a $4 bln credit facility for its ethane cracker and derivatives at its existing site in Lake Charles, Louisiana.Syndicate of 18 international banks and other financial institutions are lenders for the credit facility.  Full Article


Sasol's earnings hit by low oil price, says outlook uncertain

South African energy and chemicals group Sasol reported a 17 percent fall in full-year earnings on Monday due to lower crude oil prices and said the economic environment it operates in remained "volatile and uncertain".