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Sasol Ltd (SSL.N)

SSL.N on New York Stock Exchange

21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Sasol says entered into number of hedges for the year
Tuesday, 2 May 2017 02:00am EDT 

May 2 (Reuters) - Sasol Ltd ::Nine month saleable production from mining at 26.3 million tons versus 29.8 million tons year ago.During the course of FY17, Sasol has entered into a number of hedges to mitigate specific financial risks.During FY17, co entered into hedges against the downside risk in the crude oil price (FY17 and Q1 FY18), rand strengthening against major currencies.  Full Article

Sasol completes majority of Rand/US dollar hedging programme for FY 2018
Tuesday, 11 Apr 2017 09:55am EDT 

Sasol Ltd : Has completed majority of its Rand/US dollar hedging programme for 2018 financial year ending on June 30, 2018 using zero-cost collar instruments . Hedges with total notional amount $4 billion (averaging $1 billion per quarter) put into place, with annual average floor R13,46/$, annual average cap R15,51/$ . Hedges approximate 70 pct of company's expected net rand/us dollar exposure in 2018 financial year .Will provide co with some cash flow and balance sheet protection, as gearing and net debt to EBITDA levels are expected to peak during 2018 FY.  Full Article

Sasol posts 38 pct fall in HY headline EPS to 15.12 rand
Monday, 27 Feb 2017 12:05am EST 

Sasol Ltd : Earnings attributable to shareholders for six months ended December 31, 2016 increased by 19% to 8.7 billion rand from 7.3 billion rand in prior period . Six month headline earnings per share down 38% to 15.12 rand, earnings per share up 19% to 14.21 rand . Six month production volumes up 1% for Secunda Synfuels operations and up 5% for Eurasian operations . Average brent crude oil prices moved 2 percent higher and since Dec 2016 moved to mid US$50/bbl range, which will positively impact our H2 2017 results . Has declared a gross interim dividend of 4.80 rand per share (15.8% lower compared to prior period) . Expect sustainable cash cost savings from RP to be 2.5 billion rand by 2019, in addition to 5.4 billion rand sustainable savings from BPEP .Revised capital expenditure estimate from 75 billion rand to 66 billion rand for full year.  Full Article

Sasol sees HEPS for six months to Dec.31 down between 34-44 pct
Thursday, 26 Jan 2017 01:00am EST 

Sasol Limited : Heps are expected to decrease by between 34 pct and 44 pct (approximating r8,26 to r10,68 per share) from prior period heps of r24,28. . Overall, sasol delivered a strong business performance across most of value chain . Secunda synfuels' production volumes increased by 1 pct and our eurasian operations increased production volumes by 8 pct on back of stronger product demand . Normalised sales volumes increased by 11 pct for our base chemicals business and 2 pct for our performance chemicals business compared to t .Our results for first half of 2017 financial year may be further affected by any adjustments resulting from our half year-end closure process.  Full Article

Sasol enters into oil put options
Thursday, 8 Dec 2016 02:29am EST 

Sasol Ltd : Has entered into oil put options, for Q2 of financial year ending June 30, 2017 (October 2016 to December 2016) . Has also entered into put options for Q3, part of Q4 FY 2017 to provide co average brent crude oil price floor of us$47,06/barrel for about 16,8 million barrels . Have entered into hedges against downside risk in crude oil price to increase stability and predictability of our cash flows . Oil put options provide company with an average brent crude oil price floor of us$48,68 per barrel (net of costs) for approximately 7,6 million barrels .Currently reviewing other commodity and currency hedges and should we enter into material hedges, an appropriate announcement will be made.  Full Article

Sasol says expects FY17 liquid fuels sales to be in line with current market guidance
Thursday, 27 Oct 2016 02:15am EDT 

Sasol Ltd : Says saleable production for Q1 2017 was 8.2 mm tons versus 9.6 mm tons last year . Says base chemicals internal sales for q1 2017 was 3 mm tons versus 2.9 mm tons last year . Says energy internal sales for Q1 2017 was 5.9 mm tons versus 6.1 mm tons last year . Says performance chemicals internal sales for Q1 2017 was 1.1 mm tons versus 1.1 mm tons last year . Says production volumes in Q1 FY17 are lower due to the impact of labour actions impacting on part of our mining operations . Says we have reduced appraisal, development and drilling activities in Canada until such time we see a sustainable recovery in North American gas prices . We still expect total annual liquid fuels sales volumes for FY17 to be approximately 61 million barrels which is in line with current market guidance provided .Base chemicals sales basket price reflects an upward trend since Q4 FY16, but still lags historical price levels due to an overcapacity in propylene.  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

S.Africa's Sasol to apply for delay to 2020 air pollution deadline

JOHANNESBURG, May 31 South African petrochemicals group Sasol will apply to postpone a 2020 deadline for meeting stricter air pollution laws, the company said on Wednesday.