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SOL - Sasol - Expected Earnings for the Six Months Ending 31 December 2009

Release Date: 03/12/2009 13:00:03      Code(s): SOL
SOL - Sasol - Expected Earnings for the Six Months Ending 31 December 2009      
Sasol Limited                                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1979/003231/03)                                            
ISIN: ZAE000006896       US8038663006                                           
Share codes: JSE - SOL   NYSE - SSL                                             
("Sasol" or "the Company")                                                      
Sasol Limited: Expected Earnings for the Six Months Ending 31 December 2009     
1. Introduction                                                                 
Sasol`s financial results for the year ended 30 June 2009 were characterised    
by the dramatic decline and volatility in oil and commodity prices. Headline    
earnings per share for the first half of the 2009 financial year were at a      
record high of R21,92 while the second six months realised only R3,50. Oil      
prices and commodity prices experienced in the 2010 financial year to date are  
much lower than the peak prices achieved in the prior year comparable period    
and the earnings decline was further exacerbated by the negative impact of a    
significantly stronger rand.                                                    
2. Expected earnings for the six months ending 31 December 2009                 
Sasol`s earnings per share and headline earnings per share for the six months   
ending 31 December 2009 are estimated to decrease by at least 45% compared to   
the prior year comparable reporting period. In terms of the JSE Limited         
Listings Requirements, a trading statement is necessitated when there is        
reasonable certainty that earnings will differ by at least twenty percent from  
the prior comparable period. Due to continued volatility, Sasol is unable at    
this time to give a more precise indication of how much this decrease will be,  
but a more accurate estimate will be given once the half year has closed and    
we have greater certainty. The expected decrease in earnings is mainly due to   
the significant strengthening of the rand against the US dollar and a decrease  
in average crude oil and product prices compared to the corresponding six       
months of the previous reporting period.                                        
In addition, our results may be impacted by further changes in the oil and      
product prices, volume variances, the impact of a stronger rand on closing      
financial assets and liabilities as well as any adjustments resulting from our  
half year-end process. This may result in a change in the estimated earnings.   
It is emphasised that this trading update deals only with the first half of     
the 2009 financial year comparison. The very low earnings base of the second    
half of the 2009 financial year will strongly influence a comparison of the     
full 2010 financial year`s results with 2009 and guidance in this regard will   
be given in due course.                                                         
3. Maintaining a strong cash position                                           
Due to the cash conservation mode adopted by management during the volatile     
economic climate, Sasol still has a positive cash position and a strong         
balance sheet. Sasol continues to generate considerable cash flows, which keep  
the group well-positioned in the current economic climate as well as meeting    
all existing debt service requirements. Our focus remains on sustainable cost   
containment and improving business operational efficiencies.                    
The overarching objective of our growth plans remains unchanged: to ensure      
prudent management of our resources while pursuing those projects and           
programmes that are in the best interests of our shareholders and other valued  
4. CFO letter                                                                   
On 3 December 2009, Sasol will post an update of its major capital projects,    
as well as an operational review of Sasol Synfuels, through an update from the  
Chief Financial Officer letter on its website (www.sasol.com).                  
Sasol`s financial results for the six months ending 31 December 2009 will be    
announced on Monday, 8 March 2010.                                              
The above information has not been reviewed or reported on by the Company`s     
external auditors.                                                              
3 December 2009                                                                 
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited               
Forward looking statements                                                      
We may in this document make statements that are not historical facts and       
relate to analyses and other information based on forecasts of future results   
and estimates of amounts not yet determinable. There are forward- looking       
statements as defined in the U.S. Private Securities Litigation Reform Act of   
1995. Words such as "believe", "anticipate", "expect", "intend", "seek",        
"will", "plan", "could", "may", "endeavour" and "project" and similar           
expressions are intended to identify such forward-looking statements, but are   
not exclusive means of identifying such statements. By their very nature,       
forward-looking statements involve inherent risks and uncertainties, both       
general and specific, and there are risks that predictions, forecasts,          
projections and other forward-looking statements will not be achieved. If one   
or more of these risks materialize, or should underlying assumptions prove      
incorrect, actual results may be very different from those anticipated.         
The factors that could cause our actual results to differ materially from the   
plans, objectives, expectations, estimates and intentions expressed in such     
forward-looking statements are discussed more fully in our annual report under  
the Securities Exchange Act of 1934 on Form 20-F filed on 9 October 2009 and    
in other filings with the United States Securities and Exchange Commission.     
Forward-looking statements apply only as of the date on which they are made     
and Sasol does not undertake any obligation to update or revise any of them,    
whether as a result of new information, future events or otherwise.             
Date: 03/12/2009 13:00:03 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
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information disseminated through SENS.                                          

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