Full Year 2024 Sasol Ltd Earnings Call Transcript
Key Points
- Sasol Ltd (SSL) achieved operational improvements in the fourth quarter, leading to increased production and sales volumes compared to FY 2023.
- The company's mining full potential program is nearing completion, resulting in productivity gains.
- Sasol Ltd (SSL) reached a significant milestone in Mozambique with early gas flow from the PSA initial gas facility.
- The Sasol Rewards loyalty program has grown to 1.8 million subscribers, boosting retail fuel sales performance.
- The company successfully concluded its appeal related to clause 12A of the minimum emission standards in South Africa, allowing for the implementation of a solution to reduce sulfur dioxide emissions from April 1, 2025.
- Sasol Ltd (SSL) experienced five tragic fatalities in FY 2024, highlighting ongoing safety concerns.
- The company's financial results were impacted by a range of factors, including operational issues and a challenging macro environment.
- Cash generation and profitability decreased significantly compared to the prior year, with adjusted EBITDA and cash generated by operations down by 9% and 19%, respectively.
- The Chemicals Americas segment faced a substantial impairment of ZAR46 billion net of tax due to a weaker outlook for the value chain and higher discount rates.
- The Board decided to pass on the final dividend for FY 2024, bringing the full-year dividend to ZAR2 per share, reflecting a cautious approach to financial resilience.
Good morning, and welcome to Sasol Limited's presentation of the financial results for the financial year 2024. Thank you for dialing in and listening to our announcement today. My name is Tiffany Sydow from Investor Relations. And with me is Simon Baloyi, President and CEO of Sasol; and Hanre Rossouw, Chief Financial Officer.
Simon will start today's presentation with some opening remarks and an overview of the business performance. The financials will be covered in more detail by Hanre, and Simon will then conclude on strategy. We will have a Q&A session following the presentation, accessible through both the webcast and teleconference platforms.
Before we get into the main agenda, I'd ask that you please take a note of our forward-looking statements shown on the slide. Please perusing your own time and note the important information regarding statements that are made in this presentation. Thank you.
And I will now hand over to Simon to commence his presentation.
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