Sasol’s latest financial results confirm it has secured about 920 MW of renewable energy capacity for its South African operations. This includes an additional 160 MW contracted since mid-year from a mix of power purchase agreements and self-build projects. The company’s target is to reach up to 2 GW of renewable capacity by 2030 with the power to be used mainly at Secunda and other local sites.
In its results for the year ended June 30, Sasol reports a return to profit. Basic earnings per share were R10,60 compared to a loss of R69,94 in the previous year. Asset impairments were R20,7 billion (down from R74,9 billion) and capital expenditure decreased by 16% to R25,4 billion.
Free cash flow improved, supported by reduced impairments and lower capital spend. Net debt decreased by 13% to around R65 billion but the company did not declare a dividend, citing the need to continue strengthening the balance sheet. The results presentation states that capital allocation remains focused on reducing debt while funding key projects, including renewable energy development and emissions reduction initiatives.
