Sasol's profits plunge 34% due to weaker chemicals demand and oil prices

Stephen Grootes speaks to Simon Baloyi, CEO of Sasol about the group’s half-year results as it navigates weaker oil and chemicals prices.

Listen to the interview in the audio player below.

Sasol Limited has reported mixed financial results for the six months ended 31 December 2025, showing operational improvements and stronger cash flow despite weaker profits in a challenging global environment.

The energy and chemicals group recorded turnover of R122.4 billion, unchanged from the same period last year. A 3% increase in sales volumes helped maintain revenue levels even as global economic conditions remained soft.

Production at Sasol’s Secunda operations rose 10%, supported by improved plant performance, higher gasifier availability and the successful start-up of a destoning plant that improves coal quality.

However, despite operational gains, profitability declined.

• Adjusted EBITDA: R21.0 billion (down 12%)
• EBIT: R4.6 billion (down 52%)
• Headline earnings per share: R9.27 (down 34%)

The drop was mainly due to lower global oil prices and weaker chemicals prices. The average rand oil price fell 17%, while US chemicals margins remained under pressure.

Earnings were also impacted by R7.8 billion in impairments, including write-downs linked to the Secunda liquid fuels refinery and gas assets in Mozambique.

Speaking to Stephen Grootes on The Money Show, Simon Baloyi, CEO of Sasol says the company is focused on safe operations, cost discipline, risk management and improving cash generation to strengthen resilience.

"The pressure is going to remain for us, but our job and duty as team Sasol is to focus on the controllables. And if you look at our cash fixed costs, we're down for comparable periods by 2% to R34 billion.

- Simon Baloyi, CEO - Sasol

"We're focusing heavily on the controllables, and to further mitigate this lower oil prices to protect our balance sheet, we have a comprehensive hedging program."

- Simon Baloyi, CEO - Sasol

"All that we can do is focus on the controllables, to bring down our break-even prices as low as we can, and we're currently on target..."

- Simon Baloyi, CEO - Sasol

Scroll to the top of the article to listen to the full interview.