Chemicals Division Weighs Heavily on Sasol's FY24 Financial Results: Details
Portfolio Pulse from Lekha Gupta
Sasol Limited (NYSE:SSL) reported a challenging FY24 with an expected adjusted EBITDA decline of 2% to 17%, primarily due to low chemicals prices and tight margins. Despite some positive factors like a stronger rand and higher oil prices, earnings fell significantly due to non-cash adjustments and impairments. SSL shares are down 2.38% following the announcement.
August 12, 2024 | 1:50 pm
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Sasol Limited (NYSE:SSL) expects a significant decline in adjusted EBITDA for FY24, driven by low chemicals prices and tight margins. Despite some mitigating factors, earnings fell over 100% due to non-cash adjustments and impairments. SSL shares are down 2.38%.
The significant decline in adjusted EBITDA and earnings, driven by challenging market conditions and substantial non-cash adjustments, is likely to negatively impact investor sentiment and short-term stock performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100