Sasol Limited: Confirmation of Expected Range of Earnings Per Share for the Six Months Ended 31 December 2009

JOHANNESBURG, Feb. 12 /PRNewswire/ -- In a trading statement released on 3 December 2009, Sasol (NYSE: SSL) advised shareholders that earnings per share ("EPS") and headline earnings per share ("HEPS") of the group for the six months ended 31 December 2009 were expected to decrease by at least 45% compared to the prior comparable period.

As previously stated, HEPS for the first half of the 2009 financial year were at a record high. It was reported that the expected decrease in earnings was mainly due to the significant strengthening of the rand against the US dollar and a decrease in average crude oil and product prices compared to the corresponding six months of the previous reporting period. In addition, the average oil price achieved during the prior year comparable period was positively impacted by the effect of oil hedges which resulted in a net gain of approximately R5 billion. It was also highlighted that the results may be further impacted by the potential change in volume variances and the impact of a stronger rand on closing financial assets and liabilities, as well as any adjustments resulting from the half year-end closure process. Volatile market conditions, at the time, precluded the group from providing a more precise indication of the range of the earnings decline expected.

Following completion of the half-year closure process, Sasol is now able to indicate that the reduction in EPS and HEPS is expected to be between 50% and 55%.

It is emphasized that, as per our previous statement, this trading update deals only with the first half of the 2009 financial year comparison. The very low earnings base of the second half of the 2009 financial year will strongly influence a comparison of the full 2010 financial year's results with 2009 and guidance in this regard will be given in due course.

The above information has not been reviewed or reported on by the Company's external auditors.

Sasol's interim results for the six months ended 31 December 2009 will be released on Monday, 8 March 2010.

Investor Relations Team

+27 11 441 3113 / 3321

Sasol is an energy business with substantial chemical interests. Based in South Africa and operating worldwide, Sasol is listed on the NYSE and JSE stock exchanges. We are the leading provider of liquid fuels in South Africa and a major international producer of chemicals. Sasol uses proprietary Fischer-Tropsch technologies for the commercial production of synthetic fuels and chemicals from low-grade coal and natural gas. We manufacture more than 200 fuel and chemical products that are sold worldwide. In South Africa we also operate coal mines to provide feedstock for our synthetic fuels plants. Sasol operates the only inland crude oil refinery in South Africa. The group produces crude oil in offshore Gabon, supplies Mozambican natural gas to end-user customers and petrochemical plants in South Africa, and with partners involved in gas-to-liquids fuel joint ventures in Qatar and Nigeria. Internet address: http://www.sasol.com

Disclaimer – Forward-looking statements

We may in this document make statements that are not historical facts and relate to analyses and other information based on forecasts of future results and estimates of amounts not yet determinable. There are forward- looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavour" and "project" and similar expressions are intended to identify such forward-looking statements, but are not exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may be very different from those anticipated.

The factors that could cause our actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements are discussed more fully in our annual report under the Securities Exchange Act of 1934 on Form20-F filed on October 9, 2009 and in other filings with the United States Securities and Exchange Commission. Forward-looking statements apply only as of the date on which they are made and Sasol does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

SOURCE Sasol

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED