FY26 fuel sales guidance rises to 5–10% above FY25, while gas output is now seen up to 5% below FY25 amid PSA and CTT delays and softer demand. Sasol has signed a Letter of Intent with German startup INERATEC to supply next-generation catalysts for e-SAF (sustainable aviation fuel) production, set for completion in 2026, which will enhance INERATEC's ERA ONE facility's e-kerosene yield by 15%. The company is also pursuing renewable energy integration and emissions reduction targets.
Cyborg Score Rationale
EPS is expected to increase by over 100% to R7.00-R12.00 from prior year's loss, with HEPS projected to rise 85-100% to R33.60-R36.30. However, the company has been given a consensus recommendation of 'Reduce' by five ratings firms, with two analysts rating it 'sell' and three issuing 'hold' ratings.
Top Insights
Signed 15-year virtual power purchase agreement for 91 MW of renewable energy from Akuo's Tennyson solar farm in Texas, reducing CO2 emissions by 90,000 tons annually and supporting 30% emissions reduction goal by 2030.
Key operational achievements include fatality-free Q2 FY26, destoning plant progress, and stronger Natref operations supporting higher fuels sales.
Chemicals market conditions remain soft across all regions, resulting in lower revenue during the period.
Appointed Rhidwaan Gasant, ex-Engen finance chief and Energy Africa CEO with three decades of governance and energy sector experience, as independent director effective February 1, 2026.
Named Competitors
Shell Energy & Chemicals — Integrated global energy and chemicals producer with GTL operations
ExxonMobil Fuels & Chemicals — Major global petroleum and chemical products manufacturer
Chevron Energy & Chemicals — International oil and natural gas company with chemical operations
BASF Chemicals — Leading global chemical manufacturer with diverse product portfolio
Recent Developments
(February 2026) New board appointment: Rhidwaan Gasant joins as independent non-executive director
(January 2026) Business performance metrics published showing revised FY26 guidance with fuel sales upside offset by gas output weakness
(October 2025) Strategic capital markets update and 17.57% stock price appreciation; signed e-SAF catalyst supply agreement with INERATEC
(2025) Signed virtual power purchase agreement with Akuo for 250,000 MWh annual renewable energy supply
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