by Gerhard Engelbrecht | Feb 26, 2021 | Chemicals
We have recently upgraded our estimates for Sasol to reflect higher oil prices (link). Prices continue to move higher however and spot earnings increased forFY21 increased by 12% to R24.90 this week. Spot earnings for FY22 now exceed R40/share.Polymer...
by Gerhard Engelbrecht | Feb 24, 2021 | Chemicals
Earnings upgrades, not as large as they look: We raise our HEPS estimate from R13.55/share to R30.20 to include the reversal of currency and hedge related losses. We increase our core HEPS from R15.73 to R19.72. Our estimate for HEPS for FY22...
by Gerhard Engelbrecht | Feb 19, 2021 | Chemicals
Spot earnings continue to increase as this week oil prices and refining margins increased while the rand remained relatively flat. FY21E spot earnings are at R22.15/share (ex reversal of currency losses) with FY22E spot earnings at R39.60/share.LLDPE and...
by Gerhard Engelbrecht | Feb 17, 2021 | Chemicals
Earnings higher…: Sasol will report results for 1HFY21 on the 22nd of February. The company guides that headline EPS will be in a range of R18.59-R19.78 (+>100%, YoY). Large reversals of non-cash period end losses in FY20 will impact earnings...
by Gerhard Engelbrecht | Feb 15, 2021 | Chemicals
Product prices flying: Polymer prices have increased significantly in recent weeks and US spot prices for polyethylene are more than 80% higher than average prices achieved in Sasol’s previous financial year. Prices are supported by higher oil prices,...
by Gerhard Engelbrecht | Feb 12, 2021 | Chemicals
IHS has published an article on US polymer markets with a specific focus on polyethylene. US domestic polyethylene prices have increased by more than $500/t over the last seven months and producers are seeking additional increases of around $250/t in January and...
