Sasol Limited (SSL), a South African integrated energy and chemical company, said on Wednesday that it expects a decline in earnings for the first half, mainly due to a drop in per-barrel oil prices and a significant decrease in refining margins, and fuel price differentials.
For the six-month period to December 31, 2024, the company anticipates earnings 6 rand to 8 rand per share, lesser than 15.19 rand per share, recorded for the same period last year.
Sasol expects headline EPS of 13 rand to 15 rand, compared with 20.37 rand per share a year ago.
Excluding items, EBITDA is expected to be 22 billion rand to 25 billion rand, lower than 28 billion rand last year.
In addition, the company's earnings were impacted by a net loss of 6.2 billion rand from remeasurement items, compared with a net loss of 5.8 billion rand last year. This is mainly due to the Secunda and Sasolburg liquid fuels refinery cash-generating units, which remained fully impaired.
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