Sasol H1 Profit Declines - Quick Facts

(RTTNews) - Sasol (SSL) reported that its earnings for six months to 31 December 2020 decreased by 72% year-on-year to R4.5 billion. Earnings per share was down 73% to R6.56. The company said this resulted from a 9% decrease in the rand per barrel price of Brent crude oil, softer global chemical prices and refining margins, lower productivity at Mining operations and a negative contribution from the LCCP. Adjusted EBITDA declined by 27% to R19.6 billion. Core headline earnings per share was down 57% to R9.20.

First-half gross margin percentage decreased by 2% compared to the prior period driven by a softer macroeconomic environment negatively impacting supply-demand dynamics especially in the chemicals businesses.

Also, the Board of directors decided to pass the interim dividend to protect and strengthen balance sheet.