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...
by Gerhard Engelbrecht | Feb 12, 2021 | Chemicals
Spot earnings were slightly higher this week as higher oil prices were offset by a stronger rand and a significant decline in refining margins. Petrol and diesel crack spreads dropped below $5/bbl. FY21 spot earnings, ex currency loss reversals are at...
by Gerhard Engelbrecht | Feb 5, 2021 | Chemicals
FY21E Spot earnings increased by 15% to R20.00/share as oil prices and refining margins increased significantly (We exclude reversal of currency translations and hedge gains from spot earnings). Spot earnings for FY22 are at R31.30/share/Asian monomer prices...
by Gerhard Engelbrecht | Feb 3, 2021 | Chemicals
Earnings conundrum: Sasol reported that it expects 1HFY21 basic earnings and headline earnings will increase by more than 100% while core HEPS will decline by 5% to 25%. These distortions in earnings are problematic for valuation purposes, setting a...
