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Sasol grinds down its debt mountain - finally smaller than the company itself

22 February 2021 6:25 PM
Tags:
SASOL
The Money Show
Bruce Whitfield
stock picks
sasol results
results
company results
Fleetwood Grobler

The Money Show’s Bruce Whitfield interviews Fleetwood Grobler, President and CEO at Sasol.

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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.

Sasol is making headway in tackling its huge debt. © manine99/123rf.com

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




22 February 2021 6:25 PM
Tags:
SASOL
The Money Show
Bruce Whitfield
stock picks
sasol results
results
company results
Fleetwood Grobler

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