Sasol reported a lower turnover for fiscal 2025, reflecting a challenging environment and said it won't pay a final dividend due to its high debt level.
The South African chemicals-and-energy group said Monday that turnover for the year ended June 30 fell 9% to 249.10 billion South African rand ($14.28 billion) from 275.11 billion rand. This reflects a 15% decline in the oil price in local currency, significant reductions in refining margins and fuel-price differentials, along with 3% lower sales volumes, it added.
Total impairments were 20.7 billion rand compared to 74.9 billion rand in the prior year, partly due to the Secunda and Sasolburg liquid fuel refinery cash-generating units, which remain fully impaired.
Adjusted earnings before interest, taxes, depreciation, and amortization declined 14% to 51.76 billion rand from 60.01 billion rand.
"We are advancing our strategic initiatives to restore the Southern Africa value chain, reset International Chemicals, and deliver our growth and transform ambitions. However, the global environment remains complex and volatile," Chief Executive Simon Baloyi said.
Sasol hasn't declared any final dividend for fiscal 2025 as its debt at June 30 was $3.7 billion, above its sustainability threshold, it said.
Write to Najat Kantouar at [email protected]