{"product_id":"ssl-vrio-analysis","title":"Sasol Limited (SSL): VRIO Analysis [Mar-2026 Updated]","description":"\u003cbr\u003e\u003cp\u003eUnlocking the secrets to Sasol Limited (SSL)'s enduring success - or potential pitfalls - requires a deep dive into its very foundation; this VRIO analysis rigorously tests whether its key assets are truly Valuable, Rare, Inimitable, and Organized to secure a lasting competitive edge. Read on to immediately uncover the distilled verdict on Sasol Limited (SSL)'s strategic positioning and what it means for its future market dominance.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: Proprietary Fischer-Tropsch (FT) Technology and Know-How\n\u003c\/h2\u003e\n\u003cp\u003eYou're looking at Sasol Limited’s core competitive engine - the proprietary Fischer-Tropsch (FT) technology. This isn't just some legacy asset; it’s the foundation for their pivot into Sustainable Aviation Fuel (SAF), which is critical given the European Union’s ReFuelEU regulations kicking in this year, January 2025. Honestly, this technology dictates their long-term relevance.\u003c\/p\u003e\n\n\u003cp\u003eThe technology allows Sasol to be feedstock-agnostic, meaning they can theoretically pivot from coal\/gas to sustainable carbon and green hydrogen for products like SAF. They are planning to produce up to \u003cstrong\u003e650,000 tonnes\u003c\/strong\u003e of this green jet fuel annually across Secunda and Sasolburg facilities. This capability directly supports the Chemicals business, which contributed to the \u003cstrong\u003eR51.8 billion\u003c\/strong\u003e Adjusted EBITDA in the 2025 fiscal year, even with a 9% drop in turnover to \u003cstrong\u003eR249.10 billion\u003c\/strong\u003e.\u003c\/p\u003e\n\n\u003cp\u003eHere’s the quick math on how this core asset underpins the recent financial recovery: Free Cash Flow after tax, interest, and CapEx jumped \u003cstrong\u003e75%\u003c\/strong\u003e to \u003cstrong\u003eR12.6 billion\u003c\/strong\u003e in FY2025, helping reduce net debt to \u003cstrong\u003eR65.0 billion\u003c\/strong\u003e (US\u003cstrong\u003e$3.7 billion\u003c\/strong\u003e). This operational strength, rooted in the FT know-how, is what allowed them to swing to an EPS profit of \u003cstrong\u003eR10.60\u003c\/strong\u003e for the year ended June 30, 2025.\u003c\/p\u003e\n\n\u003cp\u003eWhat this estimate hides is the sheer difficulty of replicating the operational learning curve. If onboarding takes 14+ days, churn risk rises - but for technology, the risk is obsolescence, which this deep knowledge base helps mitigate.\u003c\/p\u003e\n\n\u003cp\u003eThe VRIO assessment for this technology looks compelling, showing a clear path to advantage:\u003c\/p\u003e\n\n\u003ctable\u003e\n  \u003ctr\u003e\n    \u003ctd\u003e\u003cstrong\u003eVRIO Dimension\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003eAssessment Detail\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003eCompetitive Implication\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003eFY2025 Data Link\u003c\/strong\u003e\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003e\u003cstrong\u003eValue\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003eEnables production of high-value synthetic fuels and chemicals, crucial for the future SAF pathway, aligning with the \u003cstrong\u003eZaffar\u003c\/strong\u003e joint venture.\u003c\/td\u003e\n    \u003ctd\u003eNecessary for competitive parity and capturing new high-margin markets.\u003c\/td\u003e\n    \u003ctd\u003eSAF production plans target \u003cstrong\u003e650,000 tonnes\u003c\/strong\u003e annually.\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003e\u003cstrong\u003eRarity\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003eDecades of scaled operational experience and dedicated R\u0026amp;D in FT catalysis is exceptionally rare globally; built on over \u003cstrong\u003e70 years\u003c\/strong\u003e of experience.\u003c\/td\u003e\n    \u003ctd\u003eProvides a competitive advantage over firms lacking this specific, scaled expertise.\u003c\/td\u003e\n    \u003ctd\u003eThe company achieved a \u003cstrong\u003e93%\u003c\/strong\u003e rise in HEPS to \u003cstrong\u003eR35.13\u003c\/strong\u003e in FY2025.\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003e\u003cstrong\u003eImitability\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003eHigh cost and time to imitate; built on over \u003cstrong\u003e70 years\u003c\/strong\u003e of proprietary process knowledge and operational data.\u003c\/td\u003e\n    \u003ctd\u003eTemporary advantage, but the barrier to entry is significant due to tacit knowledge.\u003c\/td\u003e\n    \u003ctd\u003eTotal impairments fell to \u003cstrong\u003eR20.7 billion\u003c\/strong\u003e, showing asset value protection from unique tech.\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003e\u003cstrong\u003eOrganization\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003eStrong; actively used to support the Chemicals business and expand technology licensing activities (Sasol LTFT™ Process).\u003c\/td\u003e\n    \u003ctd\u003eSustained Competitive Advantage, provided the organization continues to invest and commercialize.\u003c\/td\u003e\n    \u003ctd\u003eTurnover was \u003cstrong\u003eR249.10 billion\u003c\/strong\u003e, with \u003cstrong\u003eR4.3 billion\u003c\/strong\u003e net cash settlement from Transnet bolstering liquidity.\u003c\/td\u003e\n  \u003c\/tr\u003e\n\u003c\/table\u003e\n\n\u003cp\u003eThe organization is defintely structured to exploit this, evidenced by the strategic decision in Q3 FY25 to optimize coal input for better gasifier performance at Secunda Operations (SO).\u003c\/p\u003e\n\n\u003cul\u003e\n  \u003cli\u003eFT know-how supports Chemicals Africa and International Chemicals segments.\u003c\/li\u003e\n  \u003cli\u003eTechnology is key to the Net Zero by 2050 ambition.\u003c\/li\u003e\n  \u003cli\u003eLicensing efforts are expanding beyond Sasol-owned projects.\u003c\/li\u003e\n  \u003cli\u003eMining division achieved a fatality-free year in 2025 (before a September incident).\u003c\/li\u003e\n\u003c\/ul\u003e\nFinance: draft 13-week cash view by Friday.\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: Integrated South African Value Chain (SA IVC)\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eIntegrated South African Value Chain (SA IVC)\u003c\/strong\u003e\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eVRIO Attribute\u003c\/td\u003e\n\u003ctd\u003eAssessment\u003c\/td\u003e\n\u003ctd\u003eSupporting Data\/Metric\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eValue\u003c\/td\u003e\n\u003ctd\u003eProvides a cost-advantaged route from feedstock (coal\/gas) to final energy and chemical products.\u003c\/td\u003e\n\u003ctd\u003eSecunda Operations (SO) Coal Productivity for FY24: \u003cstrong\u003e1,043 t\/cm\/s\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRarity\u003c\/td\u003e\n\u003ctd\u003eThe sheer scale and integration of CTL\/GTL assets in one location is unique in the market.\u003c\/td\u003e\n\u003ctd\u003eSasol operates the \u003cstrong\u003eworld's only commercial scale CTL Facility\u003c\/strong\u003e.\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eImitability\u003c\/td\u003e\n\u003ctd\u003eHigh; replicating the massive, interconnected infrastructure is prohibitively expensive and time-consuming.\u003c\/td\u003e\n\u003ctd\u003eFY24 Impairment Loss (Gross): \u003cstrong\u003eR74.9 billion\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOrganization\u003c\/td\u003e\n\u003ctd\u003eGood; management is actively focused on restoring the value chain's performance post-outages.\u003c\/td\u003e\n\u003ctd\u003eSO Train 2 commenced operations in \u003cstrong\u003eApril 2024\u003c\/strong\u003e; Train 1 fully operational in \u003cstrong\u003eJune 2024\u003c\/strong\u003e.\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCompetitive Advantage\u003c\/td\u003e\n\u003ctd\u003eSustained\u003c\/td\u003e\n\u003ctd\u003eFY24 Total Mining Productivity: \u003cstrong\u003e983 t\/cm\/s\u003c\/strong\u003e.\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003e\u003cstrong\u003eSupporting Operational and Financial Metrics:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eFY24 Liquid fuels sales volumes were within market guidance of \u003cstrong\u003e51 - 54 million barrels\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eORYX GTL utilization rate for FY24 was at the lower end of the market guidance of \u003cstrong\u003e50 - 60%\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eNatref achieved an average run rate of \u003cstrong\u003e519 m³\/h\u003c\/strong\u003e in FY24.\u003c\/li\u003e\n\u003cli\u003eSales revenue from South African assets in FY24 was \u003cstrong\u003e11% lower\u003c\/strong\u003e than FY23.\u003c\/li\u003e\n\u003cli\u003eFirst gas flow from the Mozambique PSA to South Africa was achieved in \u003cstrong\u003eMay 2024\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eFY24 Impairment Loss (Net of Tax): \u003cstrong\u003eR56.7 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: World-Scale Gas-to-Liquids (GTL) and Coal-to-Liquids (CTL) Assets\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Provides significant production capacity for liquid fuels and chemical feedstocks.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e Few global peers operate CTL facilities at this scale.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Very high; the initial capital investment creates an enormous barrier to entry.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Fair; while the Secunda and Sasolburg liquid fuels refinery CGUs remain impaired as of June 2025, operations continue to be optimized.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Sustained\u003c\/p\u003e\n\u003cp\u003eThe scale and technological foundation of Sasol's GTL and CTL assets are underpinned by significant historical investment and operational metrics.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003cth\u003ePeriod\/Context\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eYears of CTL and GTL Experience\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e60 years\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eHistorical\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegistered Patent Families\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e372\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eIntellectual Property Portfolio\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSecunda \u0026amp; Sasolburg LFR CGU Impairment\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR13.1bn\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of 30 June 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSecunda Liquid Fuels Refinery CGU Impairment (Gross)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR7.8 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of June 30, 2024 (Fully Impaired)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSecunda Operations (SO) Production Volume\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e7.0 mt\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eORYX GTL Utilisation Rate\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e50 - 60%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFY2024 Guidance\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGroup Turnover\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR249,096 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFY2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGroup Capital Expenditure\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR25,413 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFY2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eOperational optimization efforts are reflected in recent financial discipline:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eCash fixed cost increase maintained below inflation for FY2025.\u003c\/li\u003e\n\u003cli\u003eCapital spend lower in FY2025, driven by ongoing optimization.\u003c\/li\u003e\n\u003cli\u003eFY2025 Free cash flow generation was \u003cstrong\u003e75%\u003c\/strong\u003e higher than FY2024.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eThe GTL and CTL technology base supports various product streams:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eProduct streams include fuel components and chemical feedstock.\u003c\/li\u003e\n\u003cli\u003eThe technology is integrated into world-scale operating facilities.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: Cobalt Fischer-Tropsch (FT) Catalyst Production\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eCobalt Fischer-Tropsch (FT) Catalyst Production\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eValue\u003c\/strong\u003e: Next-generation catalysts are key enablers for efficient chemical conversion, especially for Power-to-Liquid (PtL) applications. Sasol's next generation Co-FT catalyst is a key enabler for the production of carbon-neutral aviation fuel (SAF) via the power-to-liquid process. Sasol has over 70 years of experience in the development and application of FT technology.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eRarity\u003c\/strong\u003e: The latest generation catalysts are considered among the most efficient on the market. Sasol's Cobalt Fischer-Tropsch catalysts are currently the most reliable and effective of their kind, proven over the last 30 years. The Fischer-Tropsch (FT) catalyst market is valued at $924 million in 2025.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eImitability\u003c\/strong\u003e: Moderate to High; requires specialized materials science expertise tied to the core process. Sasol continuously invests into research and development to further improve its products. The company is a leading partner in the CARE-O-SENE research project, which was granted 30 million euros by the German Federal Ministry of Education and Research (BMBF). Sasol also awarded research grants totalling R54 million over four years through the National Research Foundation (NRF).\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eOrganization\u003c\/strong\u003e: Strong; directly supports both internal needs and external supply agreements, like the one with INERATEC. Sasol's own facilities and licensed technologies already produce more than 200,000 bbl\/day of products. The total Sasol production capacity of the South African FT-based plants is around 165,000 bpd.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage\u003c\/strong\u003e: Sustained\u003c\/p\u003e\n\n\u003cp\u003eThe external supply agreement with INERATEC demonstrates the organizational strength and market validation of the catalyst technology:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eData Point\u003c\/th\u003e\n\u003cth\u003eContext\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgreement Duration\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003eFive-year\u003c\/strong\u003e contract\u003c\/td\u003e\n\u003ctd\u003eSupply of Fischer-Tropsch catalysts to INERATEC\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eINERATEC Plant Output (Current Catalyst)\u003c\/td\u003e\n\u003ctd\u003eUp to \u003cstrong\u003e2,500 tonnes\u003c\/strong\u003e of e-fuels per year\u003c\/td\u003e\n\u003ctd\u003eAnnual production target for the Frankfurt PtL plant\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNext-Gen Catalyst Impact\u003c\/td\u003e\n\u003ctd\u003eImprove e-kerosene yield by \u003cstrong\u003e15%\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eProjected improvement with the next generation catalyst\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eINERATEC Plant Investment\u003c\/td\u003e\n\u003ctd\u003eOver \u003cstrong\u003e30 million Euros\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eInvestment in the first large-scale PtL plant by INERATEC\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGerman Government Support (INERATEC)\u003c\/td\u003e\n\u003ctd\u003eAround \u003cstrong\u003e6 million euros\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eFunding provided for the INERATEC PtL plant\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003eThe proprietary nature and performance improvements are critical to the value proposition:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eThe Fischer-Tropsch synthesis was discovered and patented in 1925.\u003c\/li\u003e\n\u003cli\u003eSasol has developed the process as proprietary technology since the 1950s.\u003c\/li\u003e\n\u003cli\u003eCobalt FT catalysts typically contain up to 30 wt% Co.\u003c\/li\u003e\n\u003cli\u003eThe FT catalyst market is projected to grow at a 4.7% CAGR from 2025 to 2033.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: Strengthened Balance Sheet (FY2025 Performance)\n\u003c\/h2\u003e\n\n\u003ch\u003eValue\u003c\/h\u003e\n\u003cp\u003eProvides financial resilience to navigate volatile macro environments and fund strategic transformation.\u003c\/p\u003e\n\n\u003ch\u003eRarity\u003c\/h\u003e\n\u003cp\u003eAchieving a \u003cstrong\u003e75%\u003c\/strong\u003e increase in Free Cash Flow after CapEx to \u003cstrong\u003eR12.6 billion\u003c\/strong\u003e in FY2025 is a strong indicator.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eFree cash flow after tax, interest and capital expenditure increased by \u003cstrong\u003e75%\u003c\/strong\u003e to \u003cstrong\u003eR12.6 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eNon-recurring items included the Transnet net cash settlement of \u003cstrong\u003eR4.3 billion\u003c\/strong\u003e and a reduction in the environmental rehabilitation provision of \u003cstrong\u003eR2.9 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003eFY2025 Value\u003c\/td\u003e\n\u003ctd\u003eChange vs. Prior Year\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTurnover\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR249 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e9%\u003c\/strong\u003e decrease\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted EBITDA\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR51.8 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e14%\u003c\/strong\u003e decline\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapital Expenditure\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR25.4 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e16%\u003c\/strong\u003e lower\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBasic EPS\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003eR10.60\u003c\/strong\u003e per share\u003c\/td\u003e\n\u003ctd\u003eMore than \u003cstrong\u003e100%\u003c\/strong\u003e increase\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003ch\u003eImitability\u003c\/h\u003e\n\u003cp\u003eLow; this was achieved through specific, recent management actions and non-recurring items.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eCash fixed cost increases were kept below inflation.\u003c\/li\u003e\n\u003cli\u003eNet debt (excluding leases) declined \u003cstrong\u003e13%\u003c\/strong\u003e to \u003cstrong\u003eR65.0 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eTotal long-term debt reduced by \u003cstrong\u003e12%\u003c\/strong\u003e to \u003cstrong\u003eR103.3 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eLiquidity enhanced by successful closure of a \u003cstrong\u003eR5.3 billion\u003c\/strong\u003e ZAR floating rate bond in July 2025.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ch\u003eOrganization\u003c\/h\u003e\n\u003cp\u003eStrong; balance sheet strength is a stated priority following the Capital Markets Day in May 2025.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eCMD revised dividend trigger to sustainable net debt below \u003cstrong\u003eUS$3 billion\u003c\/strong\u003e (from \u003cstrong\u003eUS$4 billion\u003c\/strong\u003e).\u003c\/li\u003e\n\u003cli\u003eNet debt at 30 June 2025 was \u003cstrong\u003eUS$3.7 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eNo dividend was declared as net debt was above the \u003cstrong\u003eUS$3 billion\u003c\/strong\u003e threshold.\u003c\/li\u003e\n\u003cli\u003eStated commitment to prioritising deleveraging through free cash flow generation.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ch\u003eCompetitive Advantage\u003c\/h\u003e\n\u003cp\u003eTemporary\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: Disciplined Cost and Capital Management Culture\n\u003c\/h2\u003e\n\u003ch\u003e\u003ch\u003eValue\u003c\/h\u003e\u003ch\u003e\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eProtects cash flow and improves profitability even with lower sales volumes.\u003c\/p\u003e\n\u003ch\u003e\u003ch\u003eRarity\u003c\/h\u003e\u003ch\u003e\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eWhile common as a goal, consistently achieving it is not universal.\u003c\/p\u003e\n\u003ch\u003e\u003ch\u003eImitability\u003c\/h\u003e\u003ch\u003e\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eLow; this is a function of management discipline and process embedding.\u003c\/p\u003e\n\u003ch\u003e\u003ch\u003eOrganization\u003c\/h\u003e\u003ch\u003e\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eStrong; evidenced by specific financial outcomes in the year ended 30 June 2025.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003eFY2025 Amount\u003c\/td\u003e\n\u003ctd\u003eFY2024 Amount\u003c\/td\u003e\n\u003ctd\u003eChange\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapital Expenditure (CapEx)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR25.4 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR30.159 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e16%\u003c\/strong\u003e lower\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFree Cash Flow (FCF) after tax, interest and 1st order CapEx\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR12.6 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR7.173 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e75%\u003c\/strong\u003e higher\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Debt (excluding leases)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eUS$3.7 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003eUS$4.1 billion\u003c\/strong\u003e (Implied from 11% reduction)\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e11%\u003c\/strong\u003e reduction\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCash Fixed Cost Increase\u003c\/td\u003e\n\u003ctd\u003eBelow inflation\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003ctd\u003eMitigated impact on profitability\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eSpecific organizational achievements supporting this culture:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eCash fixed cost increases were kept \u003cstrong\u003ebelow inflation\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eCapital expenditure was reduced by \u003cstrong\u003e16%\u003c\/strong\u003e to \u003cstrong\u003eR25.4 billion\u003c\/strong\u003e in FY2025.\u003c\/li\u003e\n\u003cli\u003eFree cash flow after tax, interest and first order capital expenditure increased by \u003cstrong\u003e75%\u003c\/strong\u003e to \u003cstrong\u003eR12.6 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eNet debt (excluding leases) reduced by \u003cstrong\u003e11%\u003c\/strong\u003e to \u003cstrong\u003eUS$3.7 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch\u003e\u003ch\u003eCompetitive Advantage\u003c\/h\u003e\u003ch\u003e\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003eTemporary\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: Feedstock Optionality and Access\n\u003c\/h2\u003e\n\n\u003cp\u003e\n\u003ch\u003eValue\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nFlexibility to utilize both coal and natural gas as primary inputs for the synthetic fuels processes.\n\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eSecunda CTL total production capacity: \u003cstrong\u003e160,000 barrels per day (bpd)\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eSasol Synfuels converts approximately \u003cstrong\u003e40 Mt\u003c\/strong\u003e of coal per annum into liquid synthetic fuels.\u003c\/li\u003e\n\u003cli\u003eMozambique gas production for FY2024: \u003cstrong\u003e120-billion standard cubic feet (bscf)\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\n\u003ch\u003eRarity\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nThe CTL capability, rooted in their South African operations, is globally rare.\n\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eSecunda CTL is the \u003cstrong\u003eworld's largest commercial Coal to Liquids (CTL) synthetic fuel facility\u003c\/strong\u003e to date.\u003c\/li\u003e\n\u003cli\u003eORYX GTL plant capacity (GTL outside SA): \u003cstrong\u003e32,400 bpd\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\n\u003ch\u003eImitability\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nHigh; the infrastructure for CTL is not easily replicated.\n\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eThe Sasol III Steam Plant has a chimney height of \u003cstrong\u003e301 m (988 ft)\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eThe Oryx GTL plant cost was approximately \u003cstrong\u003e$1.4 billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\n\u003ch\u003eOrganization\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nFair; the foundation business relies on this, though coal quality issues required a destoning project update.\n\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eCoal destoning project capital cost: \u003cstrong\u003eless than R1-billion\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eThe destoning plant has a capacity of \u003cstrong\u003e10-million-ton-a-year\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eCoal quality issues led to a reduction in own coal production by a further \u003cstrong\u003etwo-million tons\u003c\/strong\u003e in one reporting period.\u003c\/li\u003e\n\u003cli\u003eFY2025 internal coal production: \u003cstrong\u003e28.2-million tons\u003c\/strong\u003e (down from \u003cstrong\u003e30.2-million tons\u003c\/strong\u003e prior year).\u003c\/li\u003e\n\u003cli\u003eExternal coal purchases for FY2025: \u003cstrong\u003e10-million tons\u003c\/strong\u003e (up from \u003cstrong\u003e9.2-million tons\u003c\/strong\u003e).\u003c\/li\u003e\n\u003cli\u003eTarget average sinks content post-blending from destoning: between \u003cstrong\u003e12% and 14%\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eFeedstock Type\u003c\/th\u003e\n\u003cth\u003eFacility\/Operation\u003c\/th\u003e\n\u003cth\u003eLatest Reported Volume\/Capacity\u003c\/th\u003e\n\u003cth\u003ePeriod\/Context\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCoal (Feedstock)\u003c\/td\u003e\n\u003ctd\u003eSecunda CTL Conversion\u003c\/td\u003e\n\u003ctd\u003eApproximately \u003cstrong\u003e40 Mt\u003c\/strong\u003e per annum\u003c\/td\u003e\n\u003ctd\u003eAnnual conversion volume\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCoal (Internal Production)\u003c\/td\u003e\n\u003ctd\u003eSecunda Collieries\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e28.2-million tons\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFY2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCoal (External Purchase)\u003c\/td\u003e\n\u003ctd\u003eSupplement to own production\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e10-million tons\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFY2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNatural Gas (Production)\u003c\/td\u003e\n\u003ctd\u003eMozambique Operations (Sasol's 70% share)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e120 bscf\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNatural Gas (Sales Volume)\u003c\/td\u003e\n\u003ctd\u003eSouth Africa\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e37.8-billion standard cubic feet\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003e\n\u003ch\u003eCompetitive Advantage\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nSustained\n\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: Quantified Emissions Reduction Roadmap (ERR)\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Provides a clear path to regulatory compliance and addresses terminal value concerns for the South African business.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e A concrete, large-scale transition plan with a target of \u003cstrong\u003e30%\u003c\/strong\u003e GHG reduction by \u003cstrong\u003e2030\u003c\/strong\u003e is a significant strategic asset.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Moderate; other energy firms have plans, but Sasol's specific path is unique to its assets.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Strong; the ERR is central to the transformation strategy and aligns with supportive carbon tax policy shifts.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Temporary\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eTarget\/Amount\u003c\/th\u003e\n\u003cth\u003eBaseline\/Period\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eScope 1 \u0026amp; 2 GHG Reduction Target\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e30%\u003c\/strong\u003e reduction\u003c\/td\u003e\n\u003ctd\u003eBy \u003cstrong\u003e2030\u003c\/strong\u003e (from \u003cstrong\u003e2017\u003c\/strong\u003e baseline)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Zero Ambition\u003c\/td\u003e\n\u003ctd\u003eNet Zero\u003c\/td\u003e\n\u003ctd\u003eBy \u003cstrong\u003e2050\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eScope 3 GHG Reduction Target (Energy Business)\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e20%\u003c\/strong\u003e reduction\u003c\/td\u003e\n\u003ctd\u003eBy \u003cstrong\u003e2030\u003c\/strong\u003e (from \u003cstrong\u003e2019\u003c\/strong\u003e baseline)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEmissions Reduction Capex (Revised)\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003eR4-billion\u003c\/strong\u003e to \u003cstrong\u003eR7-billion\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eOver the next \u003cstrong\u003efive years\u003c\/strong\u003e (from 2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePrevious Emissions Reduction Capex\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003eR15-billion\u003c\/strong\u003e to \u003cstrong\u003eR25-billion\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eTo achieve \u003cstrong\u003e30%\u003c\/strong\u003e reduction by \u003cstrong\u003e2030\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRenewable Energy Target (Revised)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e2 GW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eBy \u003cstrong\u003e2030\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRenewable Energy Secured via PPA\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e575 MW\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eSigned up\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePotential Annual Carbon Tax Bill\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR20 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eIf carbon prices set at \u003cstrong\u003e$30\/ton\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eThe transition plan includes specific operational and efficiency measures:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eSecunda production target to be restored above \u003cstrong\u003e7.4-million tons\u003c\/strong\u003e, from below \u003cstrong\u003e7-million tons\u003c\/strong\u003e currently, to break even by \u003cstrong\u003e2028\u003c\/strong\u003e at an oil price of \u003cstrong\u003e$50\/bl\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eThe revised capex represents a \u003cstrong\u003e70%\u003c\/strong\u003e cut from the previous range.\u003c\/li\u003e\n\u003cli\u003eThe Energy Business has a \u003cstrong\u003e2026\u003c\/strong\u003e target of a \u003cstrong\u003e5%\u003c\/strong\u003e scope 1 and 2 emission reduction (excluding Natref).\u003c\/li\u003e\n\u003cli\u003eEnergy Business (excluding Natref, including Mozambique) reported emissions of \u003cstrong\u003e61,315 ktCO2e\u003c\/strong\u003e in a recent period.\u003c\/li\u003e\n\u003cli\u003eThe company purchased \u003cstrong\u003e3.8 million\u003c\/strong\u003e carbon credits.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eSasol Limited (SSL) - VRIO Analysis: Global Chemicals Footprint and Product Portfolio\n\u003c\/h2\u003e\n\n\u003cp\u003eFinance: draft the Q3 2025 cash flow forecast incorporating the FY2025 actuals by next Wednesday.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Diversifies earnings away from the cyclical South African energy market.\u003c\/p\u003e\n\u003cp\u003eThe Group's total turnover for the year ended 30 June 2024 was \u003cstrong\u003eR275,1 billion\u003c\/strong\u003e, a 5% decrease from the prior year, reflecting the mixed impact of lower chemical product prices and higher sales volumes across regions. The relative contribution from International Chemicals to Adjusted EBITDA increased from \u003cstrong\u003e6%\u003c\/strong\u003e in H1 FY2024 to \u003cstrong\u003e13%\u003c\/strong\u003e in H1 FY2025, demonstrating geographic diversification benefits despite overall revenue challenges.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e Established global presence in specific chemical value chains.\u003c\/p\u003e\n\u003cp\u003eSasol's International Chemicals business has a presence spanning \u003cstrong\u003e12 countries\u003c\/strong\u003e, delivering innovative solutions to over \u003cstrong\u003e4 000 customers\u003c\/strong\u003e across \u003cstrong\u003e88 countries\u003c\/strong\u003e.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Moderate; existing international supply chains and customer relationships take time to build.\u003c\/p\u003e\n\u003cp\u003eBuilding and maintaining these international supply chains requires significant sunk costs and established relationships. For instance, Chemicals Eurasia sales volumes saw a \u003cstrong\u003e3%\u003c\/strong\u003e increase in FY2024 compared to FY2023, indicating ongoing market engagement despite depressed demand.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Fair; the business is currently undergoing a strategic 'reset' to optimize its geographic mix and portfolio.\u003c\/p\u003e\n\u003cp\u003eThe organization is executing a strategic repositioning, including a 'RESET Sasol by stepping-up our performance'. This optimization involves portfolio adjustments, with decisions made to close or mothball \u003cstrong\u003efour assets\u003c\/strong\u003e across Italy, Germany, and the USA due to weak market demand or misalignment with strategic priorities. The business is moving towards a 'value-driven' approach for International Chemicals, rather than 'volume-driven'.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Temporary\u003c\/p\u003e\n\n\u003cp\u003eThe Chemicals business has faced significant external pressures, evidenced by a net impairment loss of \u003cstrong\u003eR45,5 billion\u003c\/strong\u003e (net of tax) relating to the Chemicals America Ethane value chain CGU for FY2024, driven by prolonged softer market pricing.\u003c\/p\u003e\n\n\u003cp\u003eThe following table summarizes key financial and volume metrics relevant to the Global Chemicals Footprint:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003ePeriod\/Reference\u003c\/td\u003e\n\u003ctd\u003eValue\u003c\/td\u003e\n\u003ctd\u003eUnit\/Context\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Turnover\u003c\/td\u003e\n\u003ctd\u003eFY2024 (Year ended 30 June 2024)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR275,1 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e5% lower than FY2023\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eChemicals America Impairment (Net of Tax)\u003c\/td\u003e\n\u003ctd\u003eFY2024\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eR45,5 billion\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eRelates to Ethane value chain CGU\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eChemicals Eurasia Sales Volume Change\u003c\/td\u003e\n\u003ctd\u003eFY2024 vs FY2023\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e3% higher\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInternational Chemicals EBITDA Contribution\u003c\/td\u003e\n\u003ctd\u003eH1 FY2025 vs H1 FY2024\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e6% to 13%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eIncrease in relative contribution\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInternational Chemicals Customer Reach\u003c\/td\u003e\n\u003ctd\u003eCurrent\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e4 000+\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eCustomers across 88 countries\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003eKey operational and strategic focus areas impacting the Chemicals segment include:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eSales volumes for Fuels and Chemicals Africa are expected to be largely \u003cstrong\u003ein line with FY24\u003c\/strong\u003e for the six months ended 31 December 2024.\u003c\/li\u003e\n\u003cli\u003eInternational Chemicals sales volume guidance for H1 FY2025 was adjusted downward to \u003cstrong\u003e4 - 8% lower than FY24\u003c\/strong\u003e due to weaker demand and outages.\u003c\/li\u003e\n\u003cli\u003eThe Sasol 2.0 programme delivered cumulative EBITDA savings of \u003cstrong\u003eR16 billion\u003c\/strong\u003e since its start.\u003c\/li\u003e\n\u003cli\u003eThe company is targeting an International Chemicals Adjusted EBITDA of \u003cstrong\u003eUS$750 to $850 million\u003c\/strong\u003e by FY2028.\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"dcf.fm","offers":[{"title":"Default Title","offer_id":45516256641173,"sku":"ssl-vrio-analysis","price":7.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0630\/5189\/0837\/files\/ssl-vrio-analysis.png?v=1740213153","url":"https:\/\/dcf-model.com\/pt\/products\/ssl-vrio-analysis","provider":"AI-Powered Discounted Cash Flow Model Templates","version":"1.0","type":"link"}