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SOL/SOLBE1 - Sasol Limited - Trading statement for the six months ending

Release Date: 23/11/2011 11:00:08      Code(s): SOL SOLBE1
SOL/SOLBE1 - Sasol Limited - Trading statement for the six months ending        
31 December 2011                                                                
Sasol Limited                                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1979/003231/06)                                            
Sasol Ordinary Share codes:   JSE : SOL      NYSE : SSL                         
Sasol Ordinary ISIN codes:    ZAE000006896   US8038663006                       
Sasol BEE Ordinary Share code:     JSE : SOLBE1                                 
Sasol BEE Ordinary ISIN code:      ZAE000151817                                 
Trading statement for the six months ending 31 December 2011                    
1. Introduction                                                                 
Profitability in the 2012 financial year to date has been enhanced by           
improved operational performance in certain businesses, the considerable        
improvement in oil and commodity prices and a weaker rand compared to the       
prior comparable period.                                                        
In addition, Sasol Synfuels` production volume guidance for the 2012            
financial year has been revised to a range of between 7,0 million tons          
and 7,2 million tons to take into account the cumulative effect of three        
unforeseen incidents that have impacted production for the year to date.        
The incidents that have impacted Sasol Synfuels` production in the last         
five months include a three week industrial action in July 2011, a              
gasifier incident at the Secunda West plant in August 2011 and a recent         
incident on the coal conveyor system interrupting coal supply to the            
Secunda East plant. The coal conveyor system is in the process of being         
The earnings forecast for the six months ending 31 December 2011 takes          
cognisance of the revised production guidance for Sasol Synfuels.               
2. Expected earnings for the six months ending 31 December 2011                 
Sasol`s earnings per share and headline earnings per share for the six          
months ending 31 December 2011 are estimated to increase by at least 45%        
compared to the prior comparable period. In terms of the JSE Listings           
Requirements, a trading statement is necessitated when there is a               
reasonable degree of certainty that earnings will differ by at least 20         
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 increase will be, but a more accurate estimate will be given          
once the half year has closed and we have greater certainty. The expected       
increase in earnings is mainly due to improved operational performance in       
certain businesses, a significant improvement in the average crude oil          
and product prices and a weaker rand/US dollar exchange rate compared to        
the prior comparable period.                                                    
In addition, our results may be impacted by further changes in oil and          
product prices, volume variances, the impact of closing exchange rates on       
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 statement deals only with the                
comparison to the first half of the 2011 financial year. The higher             
earnings base of the second half of the 2011 financial year will strongly       
influence a comparison of the full 2012 financial year`s results with           
2011. Guidance will be provided when there is a reasonable degree of            
certainty in this regard.                                                       
3. CFO letter                                                                   
On 30 November 2011, Sasol will post an operational review and                  
developments on major capital projects, through an update from the Chief        
Financial Officer on its website (www.sasol.com).                               
Sasol`s financial results for the six months ending 31 December 2011 will       
be announced on Monday, 12 March 2012.                                          
The above information has not been reviewed and reported on by the              
Company`s external auditors.                                                    
23 November 2011                                                                
Sponsor: Deutsche Securities (SA) (Proprietary) Limited                         
Forward-looking statements: Sasol may, in this document, make certain           
statements that are not historical facts and relate to analyses and other       
information which are based on forecasts of future results and estimates        
of amounts not yet determinable. These statements may also relate to our        
future prospects, developments and business strategies. Examples of such        
forward-looking statements include, but are not limited to, statements          
regarding exchange rate fluctuations, volume growth, increases in market        
share, total shareholder return and cost reductions. 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 the           
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 the predictions,                 
forecasts, projections and other forward-looking statements will not be         
achieved. If one or more of these risks materialise, or should underlying       
assumptions prove incorrect, our actual results may differ materially           
from those anticipated. You should understand that a number of important        
factors could cause actual results to differ materially from the plans,         
objectives, expectations, estimates and intentions expressed in such            
forward-looking statements. These factors are discussed more fully in our       
most recent annual report under the Securities Exchange Act of 1934 on          
Form 20-F filed on 7 October 2011 and in other filings with the United          
States Securities and Exchange Commission. The list of factors discussed        
therein is not exhaustive; when relying on forward-looking statements to        
make investment decisions, you should carefully consider both these             
factors and other uncertainties and events. Forward-looking statements          
apply only as of the date on which they are made, and we do not undertake       
any obligation to update or revise any of them, whether as a result of          
new information, future events or otherwise.                                    
Date: 23/11/2011 11:00:08 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
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information disseminated through SENS.                                          

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