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Sasol (SOL) investor relations material
Sasol Q4 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
EPS expected between R17.50 and R19.50, up 65%–84% year-over-year from R10.60.
HEPS expected between R36 and R40, up 2%–14% from R35.13 year-over-year.
Adjusted EBITDA projected at R58–62 billion, a 12%–20% increase from R51.8 billion year-over-year.
Earnings growth driven by management actions and a more supportive macroeconomic environment in the last quarter.
Financial highlights
4% increase in sales volumes due to improved production.
7% increase in average Brent crude oil price (US$ per barrel).
Refining margins more than doubled, aided by improved fuel differentials.
Lower impairments of R16.8 billion (before tax) versus R20.7 billion prior year.
Unrealised losses of R1.1 billion on financial instruments, compared to R2 billion gains prior year.
Outlook and guidance
Higher year-end working capital, driven by elevated pricing and fuels inventory build, expected to moderate free cash flow improvement.
Financial results to be presented on 1 September 2026.
- FY26 metrics exceeded guidance, with growth in renewables and specialty chemicals amid market volatility.SOL
Trading update - Positive free cash flow and cost control offset sharp earnings decline from impairments and weak markets.SOL
H1 2026 - Higher fuel sales and production offset weak chemicals markets; FY26 fuel sales guidance raised.SOL
H1 2026 TU - Higher Fuels and Mining output offset by weaker Chemicals Africa revenue amid market softness.SOL
Q1 2026 - Free cash flow surged 75% and net debt hit a multi-year low, despite lower EBITDA.SOL
H2 2025 - All AGM resolutions passed amid focus on safety, renewables, and new dividend policy.SOL
AGM 2024 - Profitability fell on major impairments; FY25 focus is on margin, cash, and sustainability.SOL
H2 2024 - Targets up to R71bn EBITDA and net debt below US$3bn by FY28, driven by transformation and renewables.SOL
CMD 2025 - EBITDA down 15%, revenue down 10%, free cash flow negative, no interim dividend declared.SOL
H1 2025
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