Projected Income Statement: Sasol Limited

Forecast Balance Sheet: Sasol Limited

Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 90,086 77,670 86,677 89,772 79,622 67,017 53,316 43,027
Change - -13.78% 11.6% 3.57% -11.31% -15.83% -20.44% -19.3%
Announcement Date 8/16/21 8/23/22 8/22/23 8/20/24 8/25/25 - - -
1ZAR in Million
Estimates

Cash Flow Forecast: Sasol Limited

Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 18,641 22,713 30,247 30,428 25,983 21,238 25,827 27,050
Change - 21.84% 33.17% 0.6% -14.61% -18.26% 21.61% 4.74%
Free Cash Flow (FCF) 1 15,894 17,537 19,362 7,173 12,558 17,926 17,599 10,838
Change - 10.34% 10.41% -62.95% 75.07% 42.75% -1.83% -38.42%
Announcement Date 8/16/21 8/23/22 8/22/23 8/20/24 8/25/25 - - -
1ZAR in Million
Estimates

Forecast Financial Ratios: Sasol Limited

Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 23.98% 26.05% 22.89% 23.17% 21.06% 21.23% 19.6% 17.79%
EBIT Margin (%) 15.87% 18.68% 19.12% 17.49% 15.44% 16.57% 16.04% 16.26%
EBT Margin (%) 5.31% 20.14% 5.01% -12.54% 4.93% 12.07% 11.81% 8.04%
Net margin (%) 4.47% 14.13% 3.04% -16.09% 2.72% 6.52% 12.3% 8.69%
FCF margin (%) 7.87% 6.36% 6.68% 2.61% 5.04% 6.62% 6.61% 4.09%
FCF / Net Income (%) 175.97% 45.02% 220.05% -16.2% 185.58% 101.42% 53.74% 47.03%

Profitability

        
ROA 5.87% - 7.92% 2.88% 6.19% 7.39% 4.53% 3.86%
ROE 16.47% 17.75% 17.52% 6.77% 15.18% 15.85% 13.79% 11.47%

Financial Health

        
Leverage (Debt/EBITDA) 1.86x 1.08x 1.31x 1.41x 1.52x 1.16x 1.02x 0.91x
Debt / Free cash flow 5.67x 4.43x 4.48x 12.52x 6.34x 3.74x 3.03x 3.97x

Capital Intensity

        
CAPEX / Current Assets (%) 9.23% 8.24% 10.44% 11.06% 10.43% 7.84% 9.7% 10.2%
CAPEX / EBITDA (%) 38.5% 31.61% 45.62% 47.73% 49.52% 36.91% 49.52% 57.36%
CAPEX / FCF (%) 117.28% 129.51% 156.22% 424.2% 206.9% 118.48% 146.76% 249.6%

Items per share

        
Cash flow per share 1 55.01 63.4 74.95 59.4 60.39 51.44 61.87 62.07
Change - 15.25% 18.22% -20.74% 1.66% -14.82% 20.28% 0.32%
Dividend per Share 1 - 14.7 17 2 - - 6.743 6.521
Change - - 15.65% -88.24% - - - -3.3%
Book Value Per Share 1 231 296.7 307.3 220.5 234.7 268.7 304.6 326.6
Change - 28.46% 3.57% -28.25% 6.44% 14.49% 13.33% 7.25%
EPS 1 14.57 62.34 13.02 -69.94 10.54 35.15 37.95 30.47
Change - 327.87% -79.11% -637.17% 115.07% 233.52% 7.96% -19.71%
Nbr of stocks (in thousands) 629,765 631,198 636,195 636,195 635,400 644,903 644,903 644,903
Announcement Date 8/16/21 8/23/22 8/22/23 8/20/24 8/25/25 - - -
1ZAR
Estimates
2026 *2027 *
P/E 5.37x 4.97x
PBR 0.7x 0.62x
EV / Sales 0.69x 0.66x
Yield - 3.57%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
194.06ZAR
Average target price
203.11ZAR
Spread / Average Target
+4.66%

Quarterly revenue - Rate of surprise