SASOL LTD. (ADR) $50.56 (New York symbol SSL; TSINetwork Rating: Extra Risk) (082- 883-9697; www.sasol.com; ADRs outstanding: 649.2 million; Market cap: $34.4 billion; Dividend yield: 5.3%) has developed a technology to convert coal and natural gas into motor fuels and is now the world’s largest producer of fuel from coal at its facility in Secunda, South Africa.
In the year ended June 30, 2013, Sasol’s revenue rose 9.7%, to 146.8 billion South African rand (1 rand = $0.10 U.S.) from 133.8 billion rand the previous year. Earnings per ADR rose 24.5%, to 52.62 rand from 42.28 rand. The U.S. dollar rose against the rand, which pushed up the value of Sasol’s sales outside South Africa.
Sasol is considering spending up to $21 billion U.S. to build a complex in Louisiana that would turn natural gas into chemicals, diesel and other fuels.
Expanding in the U.S. would help the company offset some of the political and currency risks of operating mainly in South Africa. Sasol would also be able to take advantage of the low price of natural gas in the U.S. However, major projects like the Louisiana complex can add a lot of risk.
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