Sasol guided to significant increases in accounting earnings for 1HFY21. Non-cash accounting adjustments will impact earnings and EBITDA is expected to be 0-10% lower. The half should still be weak as the recovery in prices only commenced late in the half.
North American polyethylene prices have taken off in recent months, but this could be as a result of temporary bottlenecks. The global market still appears oversupplied and lower prices coupled with higher ethane prices could squeeze margins in future.
Polyethylene prices continue to increase in the US, impacted by tight markets as well as high freight rates.
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 FY22
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 FY22
We assess Sasol’s reported earnings measures and find that none reflect the true earnings attributable to shareholders. Multiples based on cash flow are superior measures for valuation.
Sasol issued a positive looking trading statement but under the hood the numbers are not that good
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 FY22
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 FY22
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 FY22