Sasol Limited (NYSE:SSL) Q4 2023 Earnings Conference Call February 21, 2023 2:00 AM ET

Company Participants

Tiffany Sydow - Vice President, Investor Relations

Fleetwood Grobler - President and Chief Executive Officer

Hanré Rossouw - Chief Financial Officer

Riaan Rademan – Executive Vice President, Mining

Priscillah Mabelane - Executive Vice President, Energy

Brad Griffith - Executive Vice President, Chemicals,

Conference Call Participants

Chris Nicholson - RMB Morgan Stanley

Adrian Hammond - SBG

Operator

Tiffany Sydow

Good morning, and welcome to Sasol Limited's Financial Year 2023 Interim Results Presentation. Thank you for taking the time to listen to our announcement. Our speakers today are Fleetwood Grobler, President and CEO of Sasol; Hanré Rossouw, Chief Financial Officer.

In today's presentation, Fleetwood will cover the business performance, the financial performance will be covered in more detail by Hanré, and Fleetwood will conclude with a brief update on our ESG progress and Future Sasol. You will then have an opportunity to ask your questions in our Q&A session, which commences afterwards.

I'd now like to refer you to our forward-looking statement, which is summarized on the slide. This contains important information regarding statements that are made in this presentation. Please have a look at it in your own time.

I will now hand over to Fleetwood to commence the presentation.

Fleetwood Grobler

Good day, everyone. And welcome to our interim financial results update for 2023. For the past 6 months, we again been living through a period of extraordinary volatility. During that time, we've had several key factors, notably the oil price that have continued to be supportive. However, other factors such as feedstock costs, chemical prices and slowing demand created substantial headwinds.

We've also faced ongoing challenges in our South African business, both within and beyond our control. All of these factors combined for a complex picture and a mixed set of results that is important to unpack in some detail, which we will do today. This changing environment also calls for a revised operational mitigation plan, which I will elaborate on.

Looking at our Future Sasol aspirations, I'm particularly delighted by the key advancements made in our decarbonization journey reflected in several renewable energy power purchase agreements recently concluded and many others are at an advanced stage.

Overall, the first 6 months of 2023 has been a challenging time, but I'm confident that Sasol has gripped the challenges that are within our control. I would like to recognize our people for facing these issues head on as we continue to stabilize and improve our performance.