Sees 55.1 bln rand in impairments (Il Sole 24 Ore Radiocor) - Johannesburg , 12 Aug - South African energy and chemicals company Sasol said that in the year ended June 30, 2024, its adjusted EBITDA is expected to be 54.7-64.7 billion rand, down 2-17% from the 66.3 billion the prior year following impairments.

Namely, it expects 45.5 billion net impairments related to the Chemicals America Ethane value chain, and 3.9 billion for the Chemicals Africa's Polyethylene, Chlor-Alkali & Polyvinyl Chloride and Wax value chain CGUs. The impairments are primarily driven by external conditions, including prolonged softer market pricing and outlook. It also expects a 5.7 billion impairment for the Secunda liquid fuels refinery, which remains fully impaired at 30 June 2024.

It therefore expects to book a basic loss per share of 68.82-71.48 rand compared to the prior year basic earnings per share (EPS) of 14.00 rand. The headline EPS is expected at 12.28-21.95 from 53.75 rand and the core headline EPS at 35.03-42.62 rand from 47.71 rand.

Sasol will present detailed full year results on August 20.

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(RADIOCOR) 12-08-24 12:50:00 (0221) 5 NNNN