Sasol (SOL) AGM 2024 summary

Opening remarks and agenda

• Welcomed new board members and CFO, emphasizing board diversity and competencies.

• Safety moment highlighted recent fatalities and reinforced commitment to Zero Harm.

• Outlined meeting procedures, voting process, and Q&A protocols for shareholders.

Financial performance review

• FY2024 turnover was ZAR 275 billion, down 5% from prior year, with improved gross margin (44%-46%).

• Adjusted EBITDA was ZAR 60 billion, 9% lower than FY2023; Southern Africa remained the largest contributor.

• Loss before interest and tax of ZAR 27 billion, mainly due to a ZAR 46 billion impairment in Chemicals America.

• Free cash flow decreased by 60% year-on-year, but improved in the second half.

• Capital spend was ZAR 30 billion, 2% lower than prior year, with focus on efficiency.

Board and executive committee updates

• New appointments: Tim Cumming and David Eyton as Non-executive Directors, Walt Bruns as CFO and Executive Director.

• Board succession planning continues to strengthen expertise, especially in energy transition.