Investment idea: Sasol
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Published on ● Video Link: https://www.youtube.com/watch?v=2_u6MSw5vBw
On 26 February, Sasol released its 1H24 results, which were characterised by the following:
1. Turnover decreased by 9%, driven mainly by a decrease of 24% in the chemicals average sales basket price.
2. Headline earnings per share (HEPS) decreased by 34% due R3 billion less net gains on derivatives combined with employee-related expenditure increasing 10%.
3. Volumes benefitted from the energy business improving production at Secunda Operations (SO) and the chemicals business increasing sales volumes by 4% due to higher US sales and improved operational performance in Africa.
Our research supports a buy recommendation.
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Sasol