Integrated_Annual_Report_2026 - Flipbook - Page 70
INTRODUCTION
SASOL AT A
GLANCE
DRIVING SUSTAINABLE
VALUE CREATION
EXECUTING
STRATEGY
DELIVERING
BUSINESS VALUE
SUMMARISED FINANCIAL
PERFORMANCE
CORPORATE
GOVERNANCE
SUSTAINABILITY
REPORT
REMUNERATION
REPORT
ASSURANCE /
ADMINISTRATION
CHIEF FINANCIAL OFFICER STATEMENT CONTINUED
FY27 outlook: Building credibility through
performance
TARGET
Looking ahead to FY27, our focus remains firmly on delivering
against the targets we have set out at CMD. Having strengthened
the business during FY26, the emphasis now shifts to sustaining
these improvements and continuing to build credibility through
performance.
OUR FOCUS IS CLEAR
Deliver in line with targets
VOLUMES
CASH FIXED COST
Increase below inflation
WORKING CAPITAL
15,5 – 16,5%¹
CAPITAL EXPENDITURE
R23 – 26bn²
Robust cash
generation
We will target:
• Volume delivery in line with targets as included in the relevant
portfolio sections
• Cash fixed cost increases below inflation
• Net working capital between 15,5% and 16,5% of turnover (over
6-month annualised turnover)
Balance
sheet
strength
• Capital spend between R23 and R26 billion, including selective
Growth and Transform capital
BUSINESS PROFITABILITY
• Breakeven for Southern Africa integrated value chain of
between US$53 and 58/bbl and Adjusted EBITDA for
International Chemicals of between US$450 and 600 million
• Net debt lower than US$3,3 billion
• Continued hedging in line with our strategic hedging policy
FY27 represents the next step in our journey. Our focus is on
consistently delivering against the financial framework, strengthening
cash generation and creating the financial flexibility required
to achieve our CMD commitments and deliver sustainable
shareholder returns.
SA oil breakeven3
US$53 – 58/bbl
NET DEBT
