Sasol: What to make of the investment case
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Sasol: Spotlight on earnings – latest profit drivers
We show Sasol’s key profit drivers as well as the earnings for the current and next financial years if drivers remained at spot levels until the end of FY21
Sasol: Spotlight on earnings – latest profit drivers
We show Sasol’s key profit drivers as well as the earnings for the current and next financial years if drivers remained at spot levels until the end of FY21
Sasol: An alternative valuation – a call option on oil
Sasol is in financial distress which complicates conventional valuation methodologies. We present a call option valuation of the equity and include the cost of the likely rights issue.
Sasol: Spotlight on earnings – latest profit drivers
We show Sasol’s key profit drivers as well as the earnings for the current and next financial years if drivers remained at spot levels until the end of FY21
Sasol: Liquidity revisited – not out of the woods yet
We revisit our estimates of Sasol’s liquidity using spot oil prices, refining margins and chemical prices. The business remains in breach of debt covenants, but cash burn is lower, and the liquidity window extended. A rights issue still seems inevitable unless product prices continue to increase, however.
Sasol: Spotlight on earnings – latest profit drivers
We show Sasol’s key profit drivers as well as the earnings for the current and next financial years if drivers remained at spot levels until the end of FY21
Sasol: Spotlight on earnings – latest profit drivers
We show Sasol’s key profit drivers as well as the earnings for the current and next financial years if drivers remained at spot levels until the end of FY21
Sasol: Strategies for survival – many ifs and buts
Near term liquidity has become the key focus in the Sasol investment case. Asset sales or a rights issue are required to extend available liquidity beyond one year. The company is currently burning cash and need higher prices to secure its long run existence.
Sasol: Spotlight on earnings – latest profit drivers
We show Sasol’s key profit drivers as well as the earnings for the current and next financial years if drivers remained at spot levels until the end of FY21