Why Sasol is never going back to R500
Sasol’s recovery from its Covid near-death is ‘outstanding’, reckons its CEO. But the future may be less exuberant
With Sasol having survived a near-death experience, it’s understandable that CEO Fleetwood Grobler described the annual performance this week as "nothing short of outstanding".
Earnings before interest, tax, depreciation and amortisation (ebitda) of R16.6bn for the year to end-June were more than 100% higher than the year before, while deep cost cuts and painful asset sales helped the overstretched company slash its debt to R102.9bn from R189.7bn a year ago...