Sasol sees rise in full year headline earnings per share

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Its headline earnings per share increased from 42.28 rand in 2012 to 52.62 rand in 2013 and headline earnings increased from 25.5 billion rand to 31.8 billion rand.

“With the bar set high, the group posted another excellent all-round performance in 2013 against financial, operational and safety performance targets. Clearly, macroeconomic factors continue to support Sasol’s overall value proposition,” Sasol’s Chief Executive Officer David Constable said in a statement.

“Our strong results are also testament to the resilience of our strategy, where an uncertain and volatile external environment is weighing heavily on economic growth.”

[DATA SOL:Sasol] also reported that cash generated by operating activities was up 24 per cent from 47.9 billion rand in 2012 to 59.2 billion rand in 2013.

“We continue to demonstrate our strong cash flow generation ability across our businesses through the cycle. We remain committed to a progressive dividend policy, barring significant economic variables such as abnormal fluctuations in the oil price and exchange rates,” said Christine Ramon, Sasol’s Chief Financial Officer. 

“With a sharpened strategic focus, significant progress in relation to our US megaprojects, and the initiation of a complete organisational redesign, this past financial year will be seen as a watershed for Sasol,” Constable added.

Total dividend per share was up 9 per cent from 17.50 in 2012 to 19 rand in 2013 and operating profit before re-measurement items and associates increased from 38.6 billion rand in 2012 to 47.1 billion rand in 2013.

“Operating profit for the second half of the year, compared to the first half of the year, was mainly as a result of the weaker rand-US dollar exchange rate, partly offset by the further impairment of ASPC and the partial impairment of the FT wax expansion project,” the integrated energy and chemical company had said.

Sasol’s operating profit margin increased to 22.4 per cent and its profit before tax increased from 36 billion rand in 2012 to 39.7 billion rand in 2013.

“As we take bold steps forward, we are driving to become a more effective, efficient and competitive organisation – making Sasol fit for the future, both at home and abroad. This, together with our high performing people, trusted business partners, loyal customers and suppliers, strong project pipeline and long-term strategic vision will ensure that we deliver sustainable value for all of our stakeholders for decades to come,” said Constable.