Core Insights - DTE Energy reported record capital investments exceeding $4.3 billion in 2025 to enhance utility infrastructure reliability and promote cleaner energy generation [1][2] - The company achieved nearly $1.5 billion in earnings for 2025, reflecting an increase from $1.4 billion in 2024, with operating earnings also rising to $1.5 billion [1][2] - DTE secured a landmark agreement to power Oracle's new data center, which is expected to provide significant affordability benefits for customers and stimulate economic growth in Michigan [1][2] Financial Performance - DTE Energy's earnings for 2025 were reported at $1.5 billion, or $7.03 per diluted share, compared to $1.4 billion, or $6.77 per diluted share in 2024 [1][4] - Operating earnings for 2025 were $1.5 billion, or $7.36 per diluted share, up from $1.4 billion, or $6.83 per diluted share in 2024 [1][4] - The company confirmed its 2026 operating EPS guidance of $7.59 - $7.73 [2] Capital Investments - DTE Electric invested over $3.6 billion in 2025 to enhance reliability and develop cleaner energy sources, while DTE Gas allocated $661 million for natural gas system upgrades [1][2] - The company has invested more than $24 billion in local businesses since 2016, creating or sustaining over 100,000 jobs in Michigan [1][2] Community Engagement - DTE Energy Foundation granted $300,000 to food programs to address food insecurity in Michigan [1][2] - The company connected vulnerable customers to $125 million in energy assistance through partnerships with nonprofit agencies [1][2] - DTE also donated $15 million to various organizations to support residents in need [1][2] Clean Energy Initiatives - DTE began construction on the Cold Creek Solar Park to support Ford Motor Company's transition to carbon-free manufacturing [1][2] - The company completed the Pine River and Polaris Solar Parks, providing clean energy to over 43,000 homes [1][2] - DTE partnered with Detroit to build Castle Solar Park, contributing to the city's renewable energy goals [1][2] Infrastructure Reliability - DTE Electric made significant investments to improve grid reliability, including the installation of nearly 700 smart devices and the trimming of approximately 6,600 miles of trees [1][2] - The company achieved a 60% improvement in outage time in 2025, building on a previous 70% reduction from 2023 to 2024 [1][2] Strategic Agreements - DTE negotiated contracts to provide 1.4 gigawatts of load for Oracle's new data center, ensuring that existing customers will not subsidize the data center's costs [2] - This agreement is noted as the largest economic development initiative in Michigan's history, expected to generate thousands of local jobs [2]

Core Viewpoint - Sasol Limited is expected to report a significant decline in financial performance for the six months ended December 31, 2025, with adjusted EBITDA projected between R19 billion and R23 billion, a decrease of 4% to 21% compared to the prior period [1] Financial Performance Summary - Adjusted EBITDA is anticipated to be between R19 billion and R23 billion, down from R24 billion in the prior period, reflecting a decrease of 4% to 21% [1] - Headline earnings per share (HEPS) is expected to range from R8.50 to R10.00, a decline of 29% to 40% from R14.13 in the previous period [1] - Earnings per share (EPS) is projected to be between R0.10 and R0.80, representing a drastic decrease of 89% to 99% from R7.22 in the prior period [1] Factors Influencing Earnings - The decrease in earnings is primarily attributed to impairments totaling R7.8 billion (before tax), compared to R5.7 billion in the prior period [1] - A 3% decrease in the average US dollar per ton chemicals basket price contributed to the earnings decline [1] - A 17% decline in the average Rand per barrel Brent crude oil price also impacted earnings negatively [1] - The decline in earnings was partially mitigated by disciplined cost management and a 3% increase in sales volumes due to improved operational performance [1] Impairment Details - Significant impairments include R3.9 billion related to the Production Sharing Agreement (PSA) development in Mozambique, influenced by a revision of the expected production profile and the strengthening of the Rand against the US Dollar [1] - The Secunda liquid fuels refinery cash generating unit remains fully impaired, with R3 billion in capitalized costs impaired during the current period [1] Cash Flow and Expenditure - Overall free cash flow generation is expected to improve compared to the prior period, despite lower earnings, due to reduced capital expenditure [1]

Core Insights - DTE Energy has completed the construction of the Polaris Solar Park, a 100-megawatt facility that will provide clean energy to over 23,000 homes in Michigan [1] - The project is part of DTE's broader commitment to renewable energy, which has created approximately 20,000 jobs in Michigan since 2009 [2] - The Polaris Solar Park will generate significant tax revenue for local communities, enhancing funding for essential services [2][3] - DTE aims to power the equivalent of nearly 6 million homes with renewable energy by 2042, with current projects enabling the company to power over 800,000 homes in 2025 [4] Company Overview - DTE Energy is a diversified energy company based in Detroit, serving 2.3 million electric customers and 1.3 million natural gas customers in Michigan [5] - The company is focused on renewable energy generation, custom energy solutions, and has set aggressive carbon reduction goals [5]