SASOL LIMITED: TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2025

Core Viewpoint - Sasol expects a significant increase in earnings per share (EPS) by more than 100% compared to the prior year, while adjusted earnings before interest, tax, depreciation, and amortization (adjusted EBITDA) is projected to decrease by 10% to 17% [1][3]. Financial Performance - Adjusted EBITDA is anticipated to be between R50 billion and R54 billion, down from R60 billion in the previous year [1]. - EPS is expected to rise to between R7.00 and R12.00, compared to a prior year loss per share of R69.94 [3]. - Headline earnings per share (HEPS) is projected to increase by 85% to 100%, reaching between R33.60 and R36.30, up from R18.19 in the prior year [3]. Factors Influencing Earnings - The increase in earnings is attributed to higher average chemicals basket prices and strict cost control measures [3]. - Significant impairments decreased from R74.9 billion in the prior year to R20.7 billion in the current year [3]. - The derecognition of a deferred tax asset of R15.3 billion from the prior year is noted, primarily related to Chemicals America operations [3]. - A net cash settlement of R4.3 billion from Transnet SOC Limited and a reduction in asset rehabilitation provision of R2.9 billion were also contributing factors [3]. Market Conditions - There was a 15% decline in the average Rand per barrel of Brent crude oil price, alongside a significant drop in refining margins and fuel price differentials [3]. - Sales volumes decreased by 3% due to lower production and/or market demand [3]. Impairments and Reversals - The Secunda and Sasolburg liquid fuels refinery cash generating units remain fully impaired, with recoverable amounts affected by lower macro-economic forecasts [3]. - Impairments included R4.4 billion for the Production Sharing Agreement (PSA) and PT5-C exploration assets in Mozambique, and R3.2 billion for Italy Care Chemicals CGU [3]. - A reversal of impairment of R1 billion was noted for the China Care Chemicals CGU due to improved business results [3].