Sasol Share Price: FY21 Results Update and Trading View

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Sasol ltd FY21 results

Sasol’s (JO: SOLJ ) FY21 results have benefitted from a much improved performance from the chemicals business as well as initiatives taken to improve the company’s balance sheet. Over the reporting period, Sasol implemented $3.8bn n asset sales to significantly reduce group debt and deleverage the business to levels well below initial targets. The results showed earnings to have come in mid group guidance (released on the 6th of August 2021).

Salient features of the FY21 results are as follows:

  • Core headline earnings per share up 84% year on year (y/y)

  • Adjusted EBITDA (Earnings Before Interest Depreciation Tax Amortisation) up 38%

  • Total debt declined by 46% y/y in FY21

  • No dividend declared

Sasol Ltd: technical analysis

Sasol Ltd: technical analysis chart

Source: IG Charts

The share price of Sasol has reacted negatively to what looked like a solid operational performance, perhaps due to some disappointment in the group's decision to focus on improving cash flow and not declare a dividend for the period.

The share price does however remain in a broad rangebound environment and is currently testing support at the 20375 level. Range traders looking for long entry into Sasol might prefer to see a bullish price reversal before gap support at 19670, in which case a move back towards resistance at 22500 would be targeted. Should gap support not hold, 18610 becomes a further downside support target from the move.

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  • JF Hill @JF Hill
    bought them at R50
    Like 0
  • Andile Madlokazi @Andile Madlokazi
    I own a few shares of Sasol and they have not paid me since February inception
    Like 0