Sasol's headline earnings per share for the six months to December 2024 were R14.13 ($0.7712), down from R20.37 ($1.11) during the same period a year earlier.

The company, which produces fuel and chemicals from coal and gas, said its revenue was 10% lower at R122.1 billion ($6.66 billion), mainly due to a 13% drop in the average rand price per barrel of Brent crude oil and a significant decline in refining margins.

Sasol also reported a 5% decrease in sales volumes as a result of lower production and lower market demand.

The company said it did not declare a dividend because it ended the period with a negative free cash flow of R1.1 billion ($60 million), while its net debt of $4.3 billion exceeded levels set in its capital allocation policy.

--Reuters--