South African petrochemical firm\u00a0Sasol\u00a0swung to an annual profit on the back of higher chemicals prices, tighter cost controls and lower asset writedowns.<\/p>\n\n\n\n
The company, which produces fuel and chemicals from coal and gas, posted basic earnings per share of R10.60 for the year ended June 30, compared to a R69.94 loss per share last year.<\/p>\n\n\n\n
Sasol\u00a0also benefited from a R4.3 billion payout from Transnet, after it claimed in a legal suit the state-owned logistics firm had overcharged for oil transportation over several years.<\/p>\n\n\n\n
The company said its turnover fell 9%, mainly due to lower sales volumes and reductions in rand oil prices and refining margins.<\/p>\n\n\n\n
However, it managed to keep cash fixed cost increases below inflation, while capital expenditure of R25.4 billion was 16% lower than the previous year.<\/p>\n\n\n\n
Sasol\u00a0also recorded significantly lower impairments of R20.7 billion, compared with R74.9 billion in the previous year.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
The bulk of Sasol’s impairments the previous year was related to its U.S chemicals operations, hit by low prices and weak demand.<\/p>\n\n\n\n
Sasol once again skipped dividend payments as its $3.7 billion net debt remained above the $3 billion debt cap in terms of its dividend policy.<\/p>\n\n\n\n
(Reporting by Nelson Banya; Editing by Himani Sarkar and Subhranshu Sahu)<\/p>\n","protected":false},"excerpt":{"rendered":"
Petrochemical giant\u00a0Sasol has swung back into a profit after benefitting from a legal win over Transnet. <\/p>\n","protected":false},"author":7,"featured_media":812744,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[3482,2240,2138],"class_list":["post-835898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-reuters","tag-sasol","tag-transnet"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/835898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=835898"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/835898\/revisions"}],"predecessor-version":[{"id":835900,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/835898\/revisions\/835900"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/812744"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=835898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=835898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=835898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}