By Michael Susin
Sasol, the South African chemicals-and-energy group, has reported a significant decline in net profit for fiscal 2023. This is a result of various impairments and a reduction in its dividend payout.
According to the company, the net profit for the year ended June 30 amounted to ZAR 8.80 billion ($468.3 million), a stark contrast to the ZAR 38.9 billion net profit recorded in the previous year.
However, Sasol had initially anticipated a net loss of ZAR 33.9 million.
In terms of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), which is the company’s preferred metric excluding exceptional and other one-off items, Sasol reported ZAR 66 billion. This is compared to the ZAR 71.84 billion reported in fiscal 2022, and falls within the expected range of between ZAR 60.6 billion and ZAR 70.6 billion.
Headline earnings per share (EPS) increased to ZAR 53.75 from ZAR 47.58 in the previous year. Meanwhile, core headline EPS declined to ZAR 47.71 from ZAR 68.54, aligning with the company’s projected figures.
Sasol has declared a final dividend of ZAR 10, down from ZAR 14.70 announced last year.
