Sasol’s US dollar debt-mountain swells as it reports heavy losses (R91.3bn)
It’s like a mini-Eskom in America!Bruce Whitfield, The Money Show
Sasol on Monday reported a loss of R91.3 billion for the year ending on 30 June 2020.
Headline earnings per share fell by more than 100% (to minus R11.79).
The petrochemical group’s debt – mostly in US dollars - now stands at R189.7 billion (up from R130.9 billion).
Sasol warns of write-downs totalling R111.6 billion – more than its entire market cap.
The company’s share price was down 3.91% by 2 pm.
It was really dire… We shut down the Sasolburg refinery for two months… In Secunda, we reduced to around 75%...Fleetwood Grobler, CEO - Sasol
We produced more chemicals, demand remained healthy…Fleetwood Grobler, CEO - Sasol
Demand is gradually recovering…Fleetwood Grobler, CEO - Sasol
We have chemicals going into santisers and cleaning products… demand was strong…Fleetwood Grobler, CEO - Sasol
The divestment programme is unfolding… There’s more to come in the next month or so… rights issue is still on the table…Fleetwood Grobler, CEO - Sasol
Listen to the interview in the audio below.
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