Sasol grinds down its debt mountain - finally smaller than the company itself
TRENDING ON THE MONEY SHOW: Jeremy Mansfield gets real about his money and beliefs about it
Sasol’s debt mountain has fallen in size to ever so slightly below its market value.
The company cut its debt by R63.4 billion (to R126.3 billion) in the six months to 31 December 2020.
The company has for now decided against a rights issue to further tackle its debt.
Sasol reported earnings of R15.3 billion (up from R4.5 billion) in the halfyear to 31 December 2020.
The Money Show’s Bruce Whitfield interviewed Fleetwood Grobler, President and CEO at Sasol.
It’s about taking control immediately… We can control costs and capital spend… We executed the plan… We’ve done well…Fleetwood Grobler, CEO - Sasol
We’ve increased liquidity…Fleetwood Grobler, CEO - Sasol
We put a floor in of $41 to the barrel…Fleetwood Grobler, CEO - Sasol
We need to restore the balance sheet… Only after that will we consider opportunities to invest for growth… If there are low hanging fruit; we will allocate capital.Fleetwood Grobler, CEO - Sasol
Listen to the interview in the audio below.
This article first appeared on CapeTalk : Sasol grinds down its debt mountain - finally smaller than the company itself
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