Sasol swung to earnings per share profit for fiscal 2025 despite lower turnover amid a challenging environment and said it wouldn’t pay a final dividend due to its debt level.

The South African chemicals-and-energy group said Monday that earnings per share for the year ended June 30 were 10.60 South African rand (61 cents) compared to a loss of 69.94 rand a share in the prior year. Headline earnings per share rose to 35.13 rand from 18.19 rand.

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Total impairments fell to 20.7 billion rand from 74.9 billion rand in the prior year, while free cash flow improved by 75%, helped by cost-management and a legal settlement, the company said.

Turnover fell 9% to 249.10 billion South African rand, reflecting a 15% decline in the oil price in local currency, reductions in refining margins and fuel-price differentials, along with 3% lower sales volumes, it said.

Adjusted earnings before interest, taxes, depreciation, and amortization declined 14% to 51.76 billion rand from 60.01 billion rand.

“We are advancing our strategic initiatives to restore the Southern Africa value chain, reset International Chemicals, and deliver our growth and transform ambitions. However, the global environment remains complex and volatile,” Chief Executive Simon Baloyi said.

Sasol didn’t declare a final dividend for fiscal 2025 as its debt at June 30 was $3.7 billion, above its sustainability threshold, it said.

Write to Najat Kantouar at najat.kantouar@wsj.com

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