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Sasol Limited (SSL)

- NYSE
  • Mon, Mar. 9, 7:48 AM
    • Sasol (NYSE:SSL) says it has cut 1,500 jobs and will further postpone its $14B gas-to-liquid plant in Louisiana in response to low global oil prices.
    • SSL also outlines additional policies totaling 30B-50B rand, including cutting 4B-7B rand in cash costs over the next 30 months and then 1B rand annually.
    • Reaffirms plans to cut dividends by 12.5% to 7 rand, in a bid to build a cash pile over the next 30 months (earlier).
    • The announcement came as SSL's says its net profit rose from 12.71B rand ($1.05B) to 19.54B rand in the six months ending Dec. 31 on revenue of 99.83B rand.
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  • Sep. 8, 2014, 7:59 AM
    • Sasol (NYSE:SSL) reports a 14% increase in full-year earnings, boosted by higher chemical prices and a weaker rand, but still short of analysts' expectations.
    • SSL says the economic outlook in its domestic South African base remains challenging as the country is still recovering from a five-month long strike in the platinum sector.
    • Says it is considering potential expansion into Angola, Ghana and Tanzania but Mozambique remains its immediate focus in Africa.
    • Also says it has obtained all air, water and wetlands permits for its Louisiana projects - an ethane cracker and derivatives plant, and an integrated gas-to-liquids and chemicals facility - which could cost ~$20B to build.
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  • Mar. 10, 2014, 8:23 AM
    • Sasol (SSL) says its fiscal first-half profit rose 26% Y/Y, helped by higher chemical prices and a weaker rand against the dollar.
    • Earnings excluding one-time items rose to 18.4B rand, or 30.19 rand/share in the six months through December, from 14B rand, or 24.01/share a year earlier.
    • SSL will pay a record interim dividend of 8 rand/share, a 40% increase Y/Y.
    • Says it was hit by a one-time 5.7B rand writedown due to costs associated with its Canadian shale gas operation and sale of its stake in Iran-based Arya Sasol Polymer Co.
    • Says its Louisiana plant that converts ethylene into other chemical products will be fully operational by the middle of this year.
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  • Sep. 9, 2013, 10:11 AM
    • Sasol (SSL +1.2%) reports better than expected earnings and revenue for its FY 2013, with synfuels production volumes +4% Y/Y to 7.44B tons, best since 2006.
    • Hixonia Nyasulu says she will step down as chairman and director in November, to be replaced by Mandla Gantsho.
    • CEO David Constable says he is "very bullish" on Mozambique and is in discussions with other parties over how to help monetize gas finds in the northern offshore fields there.
    • SSL also is in the process of applying for environmental permits to develop a two-phase gas-to-liquids plant in Louisiana, which it expects to receive by January and April 2014.
    | 1 Comment
  • Mar. 11, 2013, 8:49 AM
    Sasol (SSL) reports a drop in half-year profit as a result of one-time charges coming from its Iranian and Mozambique business. CEO David Constable says SSL is in talks with a buyer to finalize a deal for its 50% stake in a $900M Iranian petrochemical project.
    | 1 Comment
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Company Description
Sasol Ltd is an international integrated energy and chemicals company. It develops and commercializes technologies, and builds and operates facilities, to produce product streams, including liquid fuels, high-value chemicals and low-carbon electricity.