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...
by Gerhard Engelbrecht | Jan 29, 2021 | Chemicals
Sasol released a trading statement for 1HFY21 earlier this morning. Production numbers for 1HFY21 were also released.We attach a spreadsheet that show half year as well as quarterly production estimates and percentage changes.Sasol guides that: Basic earnings...
by Gerhard Engelbrecht | Jan 29, 2021 | Chemicals
FY21E Spot earnings declined to R17.40/share this week as oil and chemical prices showed modest declines. Spot earnings for FY22 are now at R26.93/share (ex. the impact of higher PKO prices).Asian chemical prices were slightly lower, but PVC prices remain at...
by Gerhard Engelbrecht | Jan 22, 2021 | Chemicals
Spot earnings for FY21 at R18.32/share were slightly lower due mainly to a stronger rand as well as a slightly lower oil price. Refining margins were higher and breached $5/bbl. Both petrol and diesel cracks are trading around $5/bbl.Asian chemical prices...
by Gerhard Engelbrecht | Jan 14, 2021 | Chemicals
Spot earnings for FY21 are now at R19.21/share with FY22 spot earnings at R31.02/share. The significant increase in spot earnings are as a result of higher oil and chemical prices. Refining margins have increased but remain well below average.Asian...
