Sasol is a global chemicals and energy company. We harness our knowledge and expertise to integrate sophisticated technologies and processes into world-scale operating facilities. We safely and sustainably source, produce and market a range of high-quality products, creating value for stakeholders.
Sasol comprises three distinct market-focused businesses, namely: Chemicals, Energy and Sasol ecoFT. Our more focused portfolio is underpinned by a transition to a lower-carbon future and our 70-year track record demonstrates we have the capabilities and competencies to deliver sustainable value in these three core businesses.
Advancing chemical and energy solutions that contribute to a thriving planet, society and enterprise.
Sasol's investors consist of both equity investors (those invested in the Sasol ordinary shares or the ADRs) and lenders/debt investors (banks and institutional investors lending to Sasol or investing in its issues of debt instruments such as local bonds, offshore bonds, commercial paper issues, project finance, loans and other credit facilities and convertible instruments).
Supply Chain is the custodian of all external spend for the Sasol Group. It is responsible for managing supply and demand so as to ensure cost-efficiency and maximise return on spend, while at the same time ensuring effective logistics of a range of deliverables.
Explore existing opportunities to energise your career to the next level. Whether you are seeking a Learnership or you are Student or Graduate or Experienced Hire. Find out how you can add value to the Sasol Team.
Access media releases and view latest social media updates
Total Stores |
Division |
Store Location |
Address |
Tel No |
1 |
Relabelled |
Salt River |
29 Brickfield Road, Salt River, Cape Town |
(021)4479913 |
2 |
Relabelled |
Bellville |
Shop 4, Corner Voortrekker Rd & Durban RD, Bellville |
(021)9171860 |
3 |
Relabelled |
Kenilworth |
Unit number 3 access park, Chichester road, Kenilworth |
(021)6714778, |
4 |
Relabelled |
Kuilsrivier |
Shop 4 & 5 Access Park, Kuilsrivier |
(021)9031294 061 287 3980 |
5 |
Relabelled |
Mobeni |
Cnr Grimsby & Leicester Rd, Mobeni, Durban |
(031)4620540 W\House (031) 469 9409 |
6 |
Relabelled |
Pier 14 |
21A Pier 14, Shopping Centre, Port Elizabeth |
(041)4841575 083 5176 728 |
7 |
Relabelled |
Marlboro |
13 Sparten Crescent ,Marlboro , Ext 3 Johannesburg |
(011) 262 0460 |
8 |
Relabelled |
Soweto |
Maponya Shop 200 2127 Chris hani Road, klipspruit ext5 Soweto |
(011) 933 1023 |
9 |
Relabelled |
Umlazi |
Shop 155 Umlazi Mega City 50 Griffiths Mxenge Highway Umlazi |
(031) 902 1325 |
10 |
Relabelled |
Epping |
10 Losack avenue , epping industrial |
(021) 534 0401 |
1 |
BCWC |
Kloof |
Lifes on Kloof, 50 Kloof Street, Gardens ,Cape Town, shop G-15 |
(021) 422 1593 078 211 8051 |
2 |
BCWC |
Canal Walk |
Shop 619 Canal Walk , Century BLVD, Century City , Cape Town 7441 |
(021) 551 2891 |
3 |
BCWC |
Monte Casino |
Shop 80B Montecasino, No1 Monticasino Bouelvard Fourways , 2191 Magents |
(011) 465 0438 |
4 |
BCWC |
Menlyn |
Shop UF 42 & 43 cnr atterbury road & lois avenue , menlo park , Pretoria |
(012) 764 9600 |
5 |
BCWC |
Balito |
SHOP 608 LEONORA DRIVE,DOLPHIN COAST,BALLITO,4399 |
032 586 0242 |
6 |
BCWC |
Rosebank |
Shop GF08, The Zone, Rosebank mall, Oxford Street, Johannesburg |
(011)268 1114 |
1 |
Magents |
Canal Walk |
Shop 08 , Century Blvd , Century City 7441 |
(021) 551 2533 JP CELL: 064 686 4026 |
2 |
Magents |
Monte Casino |
Shop 21 Montecasino, No1 Monticasino Bouelvard Fourways , 2191 Magents |
(011) 465 6721 074 669 6310 073 804 4352 079 884 7607 |
3 |
Magents |
Menlyn |
MENLYN MALL , SHOP G190 CNR ATTERBURY ROAD & LOIS AVENUE,MENLO PARK,PRETORIA |
(012) 348 4725 073 8677 468 - Sieya , kiley , OUPA, Micheal |
4 |
Magents |
Balito |
SHOP 608 LEONORA DRIVE,DOLPHIN COAST,BALLITO,4399 |
061 521 7446 032 586 1467 |
1 |
WSA |
Menlyn |
MENLYN MALL ,LF41A CNR ATTERBURY ROAD & LOIS AVENUE,MENLO PARK,PRETORIA |
Vicky - 078 816 1921 land line - 012 348 4766 |
6 |
BCWC |
Rosebank |
Shop GF08, The Zone, Rosebank mall, Oxford Street, Johannesburg |
(011)268 1114 |
1 |
Magents |
Canal Walk |
Shop 08 , Century Blvd , Century City 7441 |
(021) 551 2533 JP CELL: 064 686 4026 |
2 |
Magents |
Monte Casino |
Shop 21 Montecasino, No1 Monticasino Bouelvard Fourways , 2191 Magents |
(011) 465 6721 074 669 6310 073 804 4352 079 884 7607 |
3 |
Magents |
Menlyn |
MENLYN MALL , SHOP G190 CNR ATTERBURY ROAD & LOIS AVENUE,MENLO PARK,PRETORIA |
(012) 348 4725 073 8677 468 - Sieya , kiley , OUPA, Micheal |
4 |
Magents |
Balito |
SHOP 608 LEONORA DRIVE,DOLPHIN COAST,BALLITO,4399 |
061 521 7446 032 586 1467 |
1 |
WSA |
Menlyn |
MENLYN MALL ,LF41A CNR ATTERBURY ROAD & LOIS AVENUE,MENLO PARK,PRETORIA |
Vicky - 078 816 1921 land line - 012 348 4766 |
Johannesburg, South Africa – Sasol today delivered a largely strong set of interim financial results, underpinned by higher crude oil and product prices, increased demand for our specialty chemical products and a satisfactory operational performance across the value chain.
For the six months ended 31 December 2017, earnings attributable to shareholders decreased by 20% to R6,9 billion from R8,7 billion in the prior period. Headline earnings per share (HEPS) increased by 17% to R17,67 and earnings per share (EPS) decreased by 21% to R11,29 compared to the prior period. EPS was negatively impacted by the scrapping of our US gas-to-liquids (GTL) project mounting to R1,1 billion (US$83 million) and a partial impairment of the Canadian shale gas assets of R2,8 billion (CAD281 million). Core HEPS, which is reflective of our sustainable profitability, was up 5% to R18,22. The Board has declared an interim gross cash dividend of R5,00 per share based on Core EPS, from R4,80 per share in the prior period.
Average Brent crude oil prices moved higher by 19% and since December 2017, spot prices have moved closer to the US$70/bbl mark, which if sustained at these levels, are expected to positively impact the company’s results during the second half of financial year 2018. Similarly, Natref refining margins increased by 16% to US$9,73/bbl.
In the chemicals business, there has been a steady increase in most commodity chemical prices and the average margins for most of Sasol’s specialty chemicals products, in dollar terms, have remained resilient.
Excluding the effect of the hedging programme, the average rand/US dollar market exchange rate strengthened by 4% from the prior period to R13,40, and the closing rand/US dollar market exchange rate strengthened by 5% from R13,06 in June 2017 to R12,37. This resulted in translation losses of R1,2 billion on the valuation of the balance sheet compared to translation losses of R341 million in the prior period.
The results were, however, constrained by unfortunate economic conditions in South Africa, which impacted demand for Sasol’s products, operational challenges at its Natref operations, a much stronger closing rand/US dollar exchange rate and the negative impact of re-measurement and once-off items.
Despite the challenging macroeconomic environment, Sasol continued to deliver a strong operational performance.
Operational and financial performance highlights
Performance Chemicals sales volumes increased by 3% mainly due to increased market demand. Normalised Base Chemicals sales volumes decreased by 1% mainly due to lower volumes from Secunda Synfuels Operations (SSO).
Production volumes from Eurasian Operations increased by 2% due to stronger demand and increased plant availability.
Natref’s production volumes were down 21% owing to planned plant shutdowns and an unexpected Eskom electricity supply interruption at the start of the financial period. This, together with softer market demand, lowered our liquid fuels sales volumes by 3%.
Production volumes from SSO decreased by 1% due to a planned shutdown. Based on the current plant performance, Sasol expects to produce 7,7 million tons for the full financial year.
At Mining, stabilising operations post the strike in FY17 has been a challenge. There has been some improvement in production run rates and management will maintain focus on reaching the productivity rates achieved prior to the strike.
“Our sustained focus on cost, cash and capital conservation drove a largely strong set of results, notwithstanding continued macro-economic volatility. The recent recovery in global oil and product prices positively impacted our results, however this was offset by operational challenges at our Natref and mining operations, currency effects and poor economic conditions in South Africa. Encouraging recent developments signal a more stable political and investor friendly outlook for the country, in addition to a more positive global growth outlook with stronger demand in markets where we operate. Our recent safety performance has regrettably been marred by tragic fatalities in our mining operations. We are committed to the safety and health of our employees, communities and the environment. Safety, as one of our core values and number one priority will receive our constant and unwavering attention,” said Joint President and Chief Executive Officer, Bongani Nqwababa.
“We are making steady progress in delivering the LCCP within the revised schedule, as we place increased emphasis on business readiness. Once fully operational, the LCCP will transform Sasol’s earnings profile. The start-up of this world-scale chemicals facility and the implementation of our broad-based black economic empowerment ownership structure, Sasol Khanyisa, are landmark milestones to be delivered this calendar year. Guided by our clear strategic choices, we will continue to enhance our robust foundation to deliver on our refined value-based growth strategy. To this end, exercising disciplined capital allocation remains paramount to ensure we deliver sustainable growth and ongoing value to our shareholders,” said Joint President and Chief Executive Officer, Stephen Cornell.
Sustained cost, cash and capital conservation focus
Sasol’s low oil Response Plan achieved capital conservation and cash savings of R6,2 billion for the period. This brings the total capital and cash conserved since January 2015 to R75,6 billion, which exceeds the target of R65 - R75 billion.
It has also delivered sustainable annual cash savings of R3,5 billion. Together with the Business Performance Enhancement Programme (BPEP) saving, it achieved at least R8,9 billion in sustainable cash cost savings.
Cash fixed costs, excluding capital growth and once-off business establishment costs, increased by 2% in real terms, however, it still expects to track an inflation assumption of 6% for the full year.
Looking ahead, Sasol will maximise value from its existing portfolio of diversified assets through robust asset reviews, continuous improvement and digitalisation initiatives. This will ultimately enhance the company’s competitiveness, reduce its cost base and improve the return on invested capital.
Delivering on growth projects
The company’s focus for the Lake Charles Chemicals Project (LCCP) remains commissioning, operations and business readiness. To this end, the progressive start-up of utilities is ongoing and gaining momentum. As at 31 December 2017, the project was 81% complete with construction execution around 54%. Capital expenditure is currently at US$8,8 billion.
With the priority on business readiness, Sasol continues to engage new markets and prospective customers, with around 90% of LCCP’s specialty chemicals products to be placed with existing customers. Contracts are also in place for all major distribution channel partners.
In Mozambique, US$285 million has already been invested on the Production Sharing Agreement (PSA) field development plan, largely comprising drilling and surface facilities. Nine wells have been successfully drilled and tested relating to the first phase, while drilling the first of two delineation wells relating to the second phase, is underway.
Sasol anticipates oil production to be between the mid to lower-end of the range presented in the field development plan. The gas wells have confirmed that there is sufficient gas to cover initial downstream opportunities.
Several capital projects also reached beneficial operations during the period under review, such as the world’s largest oxygen train in Secunda and the Gemini High Density Polyethylene (HDPE) joint venture in the US. The FT Wax Expansion Project in Sasolburg is also progressing well.
Continued sustainability and heightened investment focus in Southern Africa
Through high impact skills and social investment programmes, Sasol continually responds to the needs of employees and fenceline communities. In the past six months, the company disbursed R680 million globally in skills and social investment programmes, of which the majority was in Southern Africa.
Sasol has invested more than R20 billion on capital projects over the past 12 years to minimise its environmental footprint. The company is also diligently implementing its air quality improvement roadmaps for its South African operations as a key instrument to sustain compliance and apply for further postponements to help in implementing our roadmaps by 2025.
Sasol management is particularly encouraged by recent developments in South Africa that signal a more stable political and investor friendly outlook. A more conducive business environment will create even greater opportunities for Sasol to be a force for good, where our capital investments have totalled over R20 billion over the past three years.
In all markets where Sasol has a presence, from Doha to Shanghai and Marl, Sasol strives to be a credible partner to stakeholders by ensuring they derive benefits from the company’s presence and have a positive association with Sasol.
The year ahead
The current economic climate continues to remain highly volatile and uncertain. While oil price and foreign exchange movements are outside the company’s control and may impact results, management’s focus remains firmly on managing factors within its control, including volume growth, cost optimisation, effective capital allocation, focused financial risk management and maintaining an investment grade credit rating.
Sasol expects an overall strong operational performance for the year ending 30 June 2018, with:
The salient dates for holders of ordinary shares and Sasol BEE ordinary shares are:
Declaration date Monday 26 February 2018
Last day for trading to qualify for and participate in the final dividend (cum dividend) 13 March 2018
Trading ex dividend commences Wednesday 14 March 2018
Record date Friday 16 March 2018
Dividend payment date (electronic and certificated register) Monday 19 March 2018
The salient dates for holders of our American Depository Receipts are1:
Ex dividend on New York Stock Exchange (NYSE) Wednesday 14 March 2018
Record date Friday 16 March 2018
Approximate date for currency conversion Wednesday 21 March 2018
Approximate dividend payment date Friday 30 March 2018
1 All dates approximate as the NYSE sets the record date after receipt of the dividend declaration.
Comprehensive additional information is available on Sasol’s website: www.sasol.com