Sasol beats key FY26 operating targets

Sasol says it met or exceeded market guidance across all key production and sales metrics for FY2026, supported by stronger operational performance in the final quarter and improved macroeconomic conditions

Secunda Operations recorded its highest annual production in five years, exceeding guidance on the successful implementation of the destoning project, higher natural gas availability and stable operations.

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Natref also maintained strong operational performance during the quarter, while ORYX GTL remained offline following earlier gas supply disruptions.

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Liquid fuels sales volumes increased year-on-year, supported by higher refining margins, although quarterly sales volumes were affected by fuel price volatility and increased fuel imports into the South African market.

Sasol also completed its FY27 oil hedging programme and was continuing its rand-dollar hedging programme to manage exposure to oil price and currency volatility.

Strategic initiatives

The company also provided updates on strategic initiatives, including:

A gas price application submitted to Nersa;
The restart of a paraffin production unit in Italy;
Progress on its enterprise resource planning system rollout; and
The expansion of its renewable energy programme to more than 500MW of operational capacity.

Outlook

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Looking ahead, Sasol expects its FY26 financial metrics to be in line with or above guidance. The exception is net working capital, which increased due to higher oil prices linked to the Middle East conflict and a build-up of fuel inventories ahead of the planned Natref shutdown.

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The group said geopolitical uncertainty and evolving market conditions are expected to keep the operating environment volatile.

Full-year results will be released on 1 September 2026.

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