Sasol Ltd. on Monday reported a 6.2% fall in adjusted Ebitda for the first half of fiscal 2021, the middle of the range forecast last month.
The South Africa-based petrochemical and energy company said adjusted earnings before interest, taxes, depreciation and amortization for the six months ended Dec. 31 was 18.61 billion South African Rand ($1.27 billion) compared with ZAR19.84 billion for the same period a year earlier. It had forecast adjusted Ebitda of between ZAR17.9 billion and ZAR19.8 billion.
The company attributed the expected adjusted Ebitda decline to lower oil prices and sales volumes stemming from weaker demand, on the back of coronavirus lockdowns and hurricanes.
Headline earnings were ZAR11.86 billion compared with ZAR3.67 billion for the same period a year earlier, while headline earnings per share rose to ZAR19.16, from ZAR5.94.
The board said that the dividend remains suspended given the “current financial leverage and the risk of a prolonged period of economic uncertainty.”
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View more information: https://www.marketwatch.com/story/sasold-adjusted-ebitda-falls-in-line-with-forecast-2021-02-22