Sasol Limited (NYSE:SSL) Q4 2022 Earnings Conference Call August 23, 2022 3:00 AM ET
Company Participants
Fleetwood Grobler - President and Chief Executive Officer
Hanré Rossouw - Chief Financial Officer
Tiffany Sydow - Vice President, Investor Relations
Simon Baloyi - Executive Vice President, Energy Operations. Executive Vice President:
Priscillah Mabelane - Executive Vice President, Energy
Brad Griffith - Execitive VP, Chemicals,
Operator
Good morning, and welcome to the presentation of Sasol Limited's Annual Results for Financial Year 2022. Thank you for joining us today. Our speakers today are Fleetwood Grobler, President and CEO of Sasol and Hanré Rossouw, Sasol's Chief Financial Officer. In today's presentation, Fleetwood will cover the business performance for the financial year, which also includes an update of our ESG progress and milestones. The financial performance will be covered in more detail by Hanré with Fleetwood concluding with a brief update on our future Sasol aspiration. You will then have an opportunity to ask your questions in our Q&A session, which commences immediately afterwards. Before we begin, I'd like to refer you to our disclaimer which is summarized on the slide. This contains important information regarding forward-looking statements that are made in this presentation. Please have a look at it in your own time.
Fleetwood Grobler
Good day, everyone, and welcome to our 2022 financial results update. In the last two years, we have faced multiple challenges both in South Africa and abroad. The outbreak of COVID significantly impacted the global economy and the world is still adjusting to major supply chain disruptions.
The war in Ukraine now entering its six months has caused enormous upheaval in global energy markets, along with a devastating toll on human life. Inflation is soaring across the globe and recessionary concerns are rising.
In South Africa, the civil unrest of July 21 and more recently, the torrential rainstorms in April this year, largely concentrated in KwaZulu-Natal affected our ability to export products and disrupted our operations. Notwithstanding this backdrop, we remain focused on meeting our short-term targets, while recording progress on future Sasol aspirations.
In this period, we were successful to significantly strengthen our balance sheet through well-executed response measures without the need for the rights issue. We completed our strategy late, accelerated asset divestment program. And today, I am pleased to announce the reinstatement of our dividends to our shareholders.
As in the past years, team Sasol stepped out and delivered in a challenging operating environment. And I express my sincere appreciation for our people's continued diligence, commitment and support. I also want to thank the Board of Sasol for its continued guidance and support as we take significant strides to a more competitive and sustainable future Sasol.