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Sasol earnings up 10%

Sasol
Sasol   Earnings before interest and tax (EBIT) declined

Sasol released its annual financial results for the year ended 30 June 2018.


Sasol underlying cash flow performance was robust. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 10% to R52 billion when compared to the prior year.

Earnings before interest and tax (EBIT) declined to R17,7 billion from R31,7 billion in FY17. However, core headline earnings per share (CHEPS) decreased by 6% to R36,03 compared to the prior period and Headline Earnings Per Share (HEPS) decreased by 22% to R27,44.

The difference between CHEPS and EBITDA in the current year is largely due to depreciation of approximately R16 billion and employee share-based payment expenses of R1,5 billion due to the marked improvement of the Sasol share price at the end of the financial year.

The share-based payment relating to our Sasol Khanyisa Broad-Based Black Economic Empowerment (B-BBEE) transaction of R3 billion is excluded from CHEPS and EBITDA as it is considered to be a once-off and non-cash item.

A final gross cash dividend of South African 790 cents per ordinary share (30 June 2017 – 780 cents per ordinary share) has been declared for the year ended 30 June 2018.

 

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