Petroleum Africa
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Wednesday, August 24, 2022
Release
Johannesburg, South Africa – Sasol delivered a strong set of financial results against the backdrop of increased volatility resulting from ongoing geopolitical tensions, extended COVID-19 lockdowns and global supply chain disruptions. We benefitted from higher energy and chemicals prices, as well as strong cost and capital discipline through the delivery of our Sasol 2.0 transformation program. This was offset by lower volume performance mainly due to the operational challenges experienced in the first half of the financial year. We have seen improved performance on the back of more stable operations in the second half of the financial year.
Earnings before interest and tax (EBIT) of R61,4 billion increased by more than 100% compared to the prior year, driven by higher crude oil prices, refining margins and chemical prices. This also resulted in a strong gross margin improvement compared to the prior year.
The full release with data breakdown can be read here.
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