JOHANNESBURG, Jan. 23,
2025 /PRNewswire/ -- Sasol has published its
production and sales performance metrics for the six months ended
31 December 2024 on the Company´s
website at www.sasol.com, under the Investor Centre section:
https://www.sasol.com/investor-centre/financial-results.
Sasol took a Final Investment Decision (FID) in December 2024 for a destoning solution to enhance
the coal quality supplied to Secunda Operations (SO), with
beneficial operation of the solution expected in H1 FY26 which is
earlier than the previous communicated date.
The civil unrest in Mozambique
affected the Central Processing Facility (CPF), leading to reduced
production rates in December 2024.
The situation at the CPF has improved and the unit is now operating
at full capacity, albeit with heightened near-term risk still
prevalent.
On 4 January 2025, a fire occurred
at the Natref refinery that caused damage to supporting piping and
infrastructure around the Crude Distillation Unit. Our team
responded swiftly to contain the fire, with no reported injuries.
Repairs are anticipated to be completed before the end of
February 2025 and plans are being
implemented, including product purchases to address supply
shortfalls, where possible.
At SO we have experienced operational challenges, largely
related to ongoing coal quality complications and the consequent
impact on gasifier and equipment availability. The implementation
of destoning and ongoing equipment reliability improvement
initiatives are expected to improve production levels going
forward.
International Chemicals revenue improved compared to H1 FY24,
though the overall business environment remains challenging. Sales
volumes in the quarter continued to be negatively impacted by the
East Cracker outage in the US. However, the unit started up
successfully in November 2024.
Overall profitability has improved due to proactive management
initiatives.
Market guidance for both Mining and Gas remains unchanged, with
the annual volume outlook for SO and Natref revised downward due to
the aforementioned challenges. Consequently, we expect sales
volumes for Fuels and Chemicals Africa to be largely in line with
FY24. Despite the operational challenges faced during the quarter,
we remain committed to executing key self-help initiatives aimed at
improving performance and mitigating the challenges we face.
ORYX production volume guidance was revised upwards.
Sales volume guidance for International Chemicals has been
adjusted downward to 4 - 8% lower than FY24, driven by
weaker-than-expected demand and unplanned operational outages.
However, the financial impact has been mitigated through effective
cost management initiatives, and improved margins compared to the
prior period.
For further information, please contact:
Sasol Investor Relations,
Tiffany Sydow, VP Investor
Relations
Telephone: +27 (0) 71 673 1929
investor.relations@sasol.com
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SOURCE Sasol Limited
