Sasol, the South African energy and chemicals group, has announced that it anticipates a decrease of up to 16% in adjusted Ebitda for fiscal 2023. This decline is attributed to several factors including weaker global economic growth, higher inflation, depressed chemicals prices, and increased feedstock and energy costs.

According to Sasol, adjusted earnings before interest, taxes, depreciation, and amortization for the year ending June 30 are projected to range between ZAR60.6 billion and ZAR70.6 billion ($3.20 billion and $3.73 billion). This is compared to ZAR71.8 billion reported during the same period the previous year.

Headline earnings per share are predicted to fall between ZAR49.47 and ZAR56.13, while core headline earnings per share are expected to be in the range of ZAR41.54 to ZAR51.14. In contrast, the figures for the preceding year were ZAR47.58 and ZAR68.54, respectively.

Furthermore, Sasol foresees a net loss of ZAR33.9 million for the year after accounting for various impairments. The company is scheduled to release its full-year earnings report on August 23.

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