Sasol Sees Adjusted Ebitda Up to 16% Lower Than Prior Year

By Ian Walker

Sasol expects to report a fall of up to 16% in adjusted Ebitda for fiscal 2023 due to weaker global economic growth, higher inflation, depressed chemicals prices and higher feedstock and energy costs, the South African company said Monday.

The energy and chemicals group said adjusted earnings before interest, taxes, depreciation and amortization for the year ended June 30 are expected to be between 60.6 billion South African rand and 70.6 billion South African rand ($3.20 billion and $3.73 billion) compared with ZAR71.8 billion for the same period a year earlier.

Headline earnings per share are expected to be between ZAR49.47 and ZAR56.13 compared with ZAR47.58, while core headline earnings per share are expected to be between ZAR41.54 and ZAR51.14 compared with ZAR68.54, Sasol said.

The company also expects to report a net loss for the year of ZAR33.9 million after booking a number of impairments.

Sasol is due to report earnings for the year on Aug. 23.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

August 14, 2023 07:48 ET (11:48 GMT)

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