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v3.19.3

Segment information | 12 Months Ended
--- | ---
Jun. 30, 2019
Segment information |
Segment information | Segment information
|  | Mining |  | Exploration and Production International |  | Energy |  | Base Chemicals*** |  | Performance Chemicals*** |
|  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |
|  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
Statement of financial position |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-current assets |  | 26 485 |  | 25 197 |  | 13 542 |  | 14 217 |  | 67 325 |  | 64 526 |  | 141 160 |  | 124 826 |  | 126 949 |  | 116 945 |
Current assets |  | 1 809 |  | 2 547 |  | 2 475 |  | 2 339 |  | 19 727 |  | 20 657 |  | 19 478 |  | 15 714 |  | 25 007 |  | 26 335 |
Non-current liabilities |  | 1 701 |  | 1 629 |  | 6 782 |  | 5 684 |  | 11 561 |  | 11 616 |  | 10 612 |  | 38 749 |  | 11 763 |  | 36 538 |
Current liabilities |  | 2 601 |  | 2 801 |  | 1 685 |  | 2 371 |  | 13 160 |  | 11 462 |  | 10 234 |  | 9 883 |  | 12 462 |  | 12 584 |
|  | Mining |  | Exploration and Production International |  | Energy |
|  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |
|  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
Income statement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External turnover |  | 3 222 |  | 3 446 |  | 2 946 |  | 1 815 |  | 1 610 |  | 1 750 |  | 82 977 |  | 69 110 |  | 64 254 |
Total turnover |  | 20 876 |  | 19 797 |  | 18 962 |  | 5 184 |  | 4 198 |  | 4 084 |  | 83 803 |  | 69 773 |  | 64 772 |
Intersegmental turnover |  | (17 654 | ) | (16 351 | ) | (16 016 | ) | (3 369 | ) | (2 588 | ) | (2 334 | ) | (826 | ) | (663 | ) | (518 | )
Earnings before interest and tax |  | 4 701 |  | 5 244 |  | 3 725 |  | (889 | ) | (3 683 | ) | 585 |  | 16 566 |  | 14 081 |  | 11 218 |
Earnings attributable to owners of Sasol Limited |  | 3 021 |  | 3 336 |  | 2 266 |  | (1 800 | ) | (4 168 | ) | 47 |  | 11 970 |  | 8 558 |  | 6 395 |
Effect of remeasurement items* |  | 45 |  | 34 |  | 6 |  | 1 976 |  | 4 241 |  | (6 | ) | 247 |  | 971 |  | 1 844 |
Depreciation and amortisation |  | 1 805 |  | 1 677 |  | 1 905 |  | 1 582 |  | 1 465 |  | 2 053 |  | 5 331 |  | 4 817 |  | 4 496 |
Statement of cash flows |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow from operations |  | 7 025 |  | 6 877 |  | 5 401 |  | 2 528 |  | 2 665 |  | 1 726 |  | 23 247 |  | 17 158 |  | 17 996 |
Additions to non-current assets** |  | 2 912 |  | 3 729 |  | 2 839 |  | 1 086 |  | 2 525 |  | 2 600 |  | 7 484 |  | 6 650 |  | 6 781 |
Other disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital commitments* |  | 2 372 |  | 2 640 |  | 3 099 |  | 19 795 |  | 18 811 |  | 19 431 |  | 10 390 |  | 10 320 |  | 10 327 |
* | Excludes equity accounted investments.
** | Includes capital accruals.
*** | The comparative financial results have been restated for the transfer of the Phenolics, Ammonia and Specialty Gases businesses from Performance Chemicals to Base Chemicals. The restatements were performed to align with the current strategy and to best reflect the basis in which the Chief Operating Decision Maker reviews and makes decisions.
Group Functions |  | Total |  | Deferred tax assets and liabilities |  | Net tax receivable/ payable |  | Post-retirement benefit assets |  | Total per statement of financial position |
2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |
Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
6 655 |  | 6 673 |  | 382 116 |  | 352 384 |  | 8 563 |  | 4 096 |  | — |  | — |  | 1 274 |  | 1 498 |  | 391 953 |  | 357 978 |
8 789 |  | 10 363 |  | 77 285 |  | 77 955 |  | — |  | — |  | 730 |  | 3 302 |  | — |  | — |  | 78 015 |  | 81 257 |
125 070 |  | 30 547 |  | 167 489 |  | 124 763 |  | 27 586 |  | 25 908 |  | — |  | — |  | — |  | — |  | 195 075 |  | 150 671 |
7 917 |  | 18 537 |  | 48 059 |  | 57 638 |  | — |  | — |  | 1 039 |  | 2 318 |  | — |  | — |  | 49 098 |  | 59 956 |
Base Chemicals*** |  | Performance Chemicals*** |  | Group Functions |  | Total |
2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |
Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
48 113 |  | 43 269 |  | 41 582 |  | 67 389 |  | 63 986 |  | 61 359 |  | 60 |  | 40 |  | 516 |  | 203 576 |  | 181 461 |  | 172 407 |
48 813 |  | 43 951 |  | 42 288 |  | 68 296 |  | 64 887 |  | 62 185 |  | 78 |  | 52 |  | 516 |  | 227 050 |  | 202 658 |  | 192 807 |
(700 | ) | (682 | ) | (706 | ) | (907 | ) | (901 | ) | (826 | ) | (18 | ) | (12 | ) | — |  | (23 474 | ) | (21 197 | ) | (20 400 | )
(1 431 | ) | 918 |  | 6 888 |  | (7 040 | ) | 7 853 |  | 8 737 |  | (2 210 | ) | (6 666 | ) | 552 |  | 9 697 |  | 17 747 |  | 31 705 |
1 622 |  | 2 075 |  | 5 899 |  | (3 516 | ) | 7 434 |  | 7 124 |  | (6 999 | ) | (8 506 | ) | (1 357 | ) | 4 298 |  | 8 729 |  | 20 374 |
3 190 |  | 4 512 |  | (374 | ) | 13 182 |  | 103 |  | 136 |  | 5 |  | 40 |  | 10 |  | 18 645 |  | 9 901 |  | 1 616 |
4 788 |  | 4 422 |  | 4 050 |  | 3 739 |  | 3 299 |  | 2 965 |  | 723 |  | 745 |  | 735 |  | 17 968 |  | 16 425 |  | 16 204 |
6 343 |  | 9 017 |  | 11 476 |  | 9 743 |  | 12 303 |  | 12 272 |  | 102 |  | (1 382 | ) | (2 635 | ) | 48 988 |  | 46 638 |  | 46 236 |
23 065 |  | 20 299 |  | 24 182 |  | 20 403 |  | 19 384 |  | 23 055 |  | 850 |  | 797 |  | 886 |  | 55 800 |  | 53 384 |  | 60 343 |
16 504 |  | 21 125 |  | 30 375 |  | 10 434 |  | 16 432 |  | 26 743 |  | 600 |  | 599 |  | 761 |  | 60 095 |  | 69 927 |  | 90 736 |
Geographic segment information
|  | Mining |  | Exploration and Production International |  | Energy |
|  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |
External turnover* |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
 South Africa |  | — |  | — |  | — |  | — |  | — |  | — |  | 77 345 |  | 65 827 |  | 60 814 |
 Rest of Africa |  | — |  | — |  | — |  | 652 |  | 341 |  | 355 |  | 4 665 |  | 3 282 |  | 3 438 |
 Europe |  | 2 819 |  | 2 691 |  | 2 040 |  | 924 |  | 985 |  | 835 |  | 967 |  | 1 |  | 2 |
 North America |  | — |  | — |  | — |  | 239 |  | 284 |  | 560 |  | — |  | — |  | — |
 South America |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
 Asia, Australasia and Middle East |  | 403 |  | 755 |  | 906 |  | — |  | — |  | — |  | — |  | — |  | — |
Total operations |  | 3 222 |  | 3 446 |  | 2 946 |  | 1 815 |  | 1 610 |  | 1 750 |  | 82 977 |  | 69 110 |  | 64 254 |
* | The analysis of turnover is based on the location of the customer.
** | The comparative financial results have been restated for the transfer of the Phenolics, Ammonia and Specialty Gases businesses from Performance Chemicals to Base Chemicals. The restatements were performed to align with the current strategy and to best reflect the basis in which the Chief Operating Decision Maker reviews and makes decision.
|  | Mining |  | Exploration and Production International |  | Energy |
Earnings before interest |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |
and tax* |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
 South Africa |  | 3 273 |  | 3 796 |  | 2 775 |  | 1 458 |  | 1 008 |  | 1 307 |  | 15 243 |  | 13 064 |  | 12 248 |
 Rest of Africa |  | — |  | — |  | — |  | 164 |  | (1 282 | ) | 707 |  | 259 |  | 926 |  | (85 | )
 Europe |  | 1 249 |  | 1 131 |  | 658 |  | 223 |  | 194 |  | (503 | ) | 14 |  | — |  | (47 | )
 North America |  | — |  | — |  | — |  | (2 739 | ) | (3 595 | ) | (728 | ) | — |  | (1 010 | ) | (1 756 | )
 South America |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
 Asia, Australasia and Middle East |  | 179 |  | 317 |  | 292 |  | 5 |  | (8 | ) | (198 | ) | 1 050 |  | 1 101 |  | 858 |
Total operations |  | 4 701 |  | 5 244 |  | 3 725 |  | (889 | ) | (3 683 | ) | 585 |  | 16 566 |  | 14 081 |  | 11 218 |
* | Includes equity accounted profits/(losses) remeasurement items and once-off share-based payment expenses.
** | The comparative financial results have been restated for the transfer of the Phenolics, Ammonia and Specialty Gases businesses from Performance Chemicals to Base Chemicals. The restatements were performed to align with the current strategy and to best reflect the basis in which the Chief Operating Decision Maker reviews and makes decision.
Non-current assets
|  | 2019 |  | 2018 |  | 2017 |
for the year ended 30 June |  | Rm |  | Rm |  | Rm |
 South Africa |  | 147 688 |  | 143 493 |  | 139 398 |
 Rest of Africa |  | 19 323 |  | 18 443 |  | 17 856 |
 Europe |  | 15 944 |  | 15 389 |  | 13 925 |
 North America |  | 189 560 |  | 165 742 |  | 125 983 |
 South America |  | 1 |  | 1 |  | 1 |
 Asia, Australasia and Middle East |  | 9 600 |  | 9 316 |  | 10 118 |
Total operations |  | 382 116 |  | 352 384 |  | 307 281 |
Deferred tax asset |  | 8 563 |  | 4 096 |  | 3 082 |
Post-retirement benefit assets |  | 1 274 |  | 1 498 |  | 622 |
Total non-current assets |  | 391 953 |  | 357 978 |  | 310 985 |
Base Chemicals** |  | Performance Chemicals** |  | Group Functions |  | Total |
2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |
Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
22 561 |  | 21 336 |  | 19 891 |  | 1 049 |  | 1 297 |  | 1 292 |  | — |  | — |  | — |  | 100 955 |  | 88 460 |  | 81 997 |
2 573 |  | 2 142 |  | 2 751 |  | 900 |  | 790 |  | 786 |  | 24 |  | — |  | 34 |  | 8 814 |  | 6 555 |  | 7 364 |
7 324 |  | 7 037 |  | 5 922 |  | 33 168 |  | 33 008 |  | 29 261 |  | — |  | — |  | — |  | 45 202 |  | 43 722 |  | 38 060 |
8 039 |  | 5 894 |  | 3 228 |  | 19 459 |  | 16 926 |  | 19 375 |  | — |  | — |  | — |  | 27 737 |  | 23 104 |  | 23 163 |
584 |  | 513 |  | 396 |  | 1 501 |  | 1 415 |  | 1 669 |  | — |  | — |  | — |  | 2 085 |  | 1 928 |  | 2 065 |
7 032 |  | 6 347 |  | 9 394 |  | 11 312 |  | 10 550 |  | 8 976 |  | 36 |  | 40 |  | 482 |  | 18 783 |  | 17 692 |  | 19 758 |
48 113 |  | 43 269 |  | 41 582 |  | 67 389 |  | 63 986 |  | 61 359 |  | 60 |  | 40 |  | 516 |  | 203 576 |  | 181 461 |  | 172 407 |
Base Chemicals** |  | Performance Chemicals** |  | Group Functions |  | Total |
2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |
Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
(843 | ) | (3 213 | ) | 2 899 |  | 449 |  | 1 547 |  | 1 340 |  | (1 004 | ) | (7 617 | ) | (125 | ) | 18 576 |  | 8 585 |  | 20 444 |
120 |  | 416 |  | 220 |  | 189 |  | 22 |  | 86 |  | (25 | ) | 553 |  | 26 |  | 707 |  | 635 |  | 954 |
526 |  | 812 |  | 734 |  | 2 754 |  | 3 530 |  | 2 984 |  | 251 |  | 345 |  | 84 |  | 5 017 |  | 6 012 |  | 3 910 |
(1 724 | ) | 430 |  | 1 221 |  | (11 844 | ) | 1 809 |  | 3 049 |  | (1 436 | ) | 50 |  | 85 |  | (17 743 | ) | (2 316 | ) | 1 871 |
7 |  | 141 |  | 100 |  | 111 |  | 138 |  | 160 |  | — |  | — |  | — |  | 118 |  | 279 |  | 260 |
483 |  | 2 332 |  | 1 714 |  | 1 301 |  | 807 |  | 1 118 |  | 4 |  | 3 |  | 482 |  | 3 022 |  | 4 552 |  | 4 266 |
(1 431 | ) | 918 |  | 6 888 |  | (7 040 | ) | 7 853 |  | 8 737 |  | (2 210 | ) | (6 666 | ) | 552 |  | 9 697 |  | 17 747 |  | 31 705 |
Reporting segments The group has six main reportable segments that reflects the structure used by the Joint Presidents and Chief Executive Officers to make key operating decisions and assess performance. The group’s reportable segments are operating segments that are differentiated by the activities that each undertakes and the products they manufacture and market (referred to as business segments). The group evaluates the performance of its reportable segments based on earnings before interest and tax (EBIT). The operating model structure reflects how the results are reported to the Chief Operating Decision Maker (CODM). The CODM for Sasol are the Joint Presidents and Chief Executive Officers. Operating business units Mining Mining is responsible for securing coal feedstock for the Southern African value chain, mainly for gasification, but also to generate electricity and steam. Coal is sold for gasification and utility purposes to Secunda Synfuels, for utility purposes to Sasolburg Operations; and to third parties in the export market. Mining sells coal under both long- and short-term contracts at a price determinable from the agreements. Turnover is recognised upon delivery of the coal to the customer, which, in accordance with the related contract terms is the point at which the control passes to the customer. Prices are fixed or determinable and collectability is probable. The date of delivery related to Mining is determined in accordance with the contractual agreements entered into with customers. These are summarised as follows:
Delivery terms |  | Control passes to the customer
Free on Board |  | At the point in time when the coal is loaded onto the vessel at Richards Bay Coal Terminal; the customer is responsible for shipping and handling costs.
The related costs of sales are recognised in the same period as the supply of the coal and include any shipping and handling costs incurred. All inter-segment sales are conducted at market related prices. Exploration and Production International Exploration and Production International (E&PI) develops and manages the group’s upstream interests in oil and gas exploration and production in Mozambique, South Africa, Canada and Gabon. E&PI sells Mozambican gas under long-term contracts to both Sasol and external customers, condensate on short-term contracts and Canadian gas into the market at spot prices. Oil is sold to customers under annual contracts. Turnover is recognised upon delivery to the customer, which, in accordance with the related contract terms is the point at which control passes to the customer. Prices are determinable from the agreements and on the open market.
Delivery terms |  | Control passes to the customer
On-delivery |  | At the point in time when the:
|  |  Gas reaches the inlet coupling of the customer’s pipeline.
|  |  Condensate is loaded onto the customer’s truck.
|  | These are the points when the customer controls the gas or condensate, or directs the use of it. The customer is responsible for transportation and handling costs.
Strategic business units Performance Chemicals Performance Chemicals markets commodity and differentiated performance chemicals. The key product lines are organics, waxes and advanced materials. These are produced in various Sasol production facilities around the world. Base Chemicals Base Chemicals markets commodity chemicals based on the group’s upstream Fischer-Tropsch, ethylene, propylene and ammonia value chains. The key product lines are polymers, solvents and ammonia-based explosives and fertilisers. These are produced in various Sasol production facilities around the world. The Base and Performance Chemicals businesses sell the majority of their products under contracts at prices determinable from such agreements. Turnover is recognised upon delivery which, in accordance with the related contract terms, is the point at which control transfer to the customer. Prices are determinable and collectability is probable. The point of delivery is determined in accordance with the contractual agreements entered into with customers which are as follows:
Delivery terms |  | Control passes to the customer:
Ex-tank sales |  | At the point in time when products are loaded into the customer’s vehicle or unloaded from the seller’s storage tanks.
Ex-works |  | At the point in time when products are loaded into the customer’s vehicle or unloaded at the seller’s premises.
Carriage Paid To (CPT); Cost Insurance Freight (CIF); Carriage and Insurance Paid (CIP); and Cost Freight Railage (CFR) |  | Products — CPT: At the point in time when the product is delivered to a specified location or main carrier.
| Products — CIF, CIP and CFR: At the point in time when the products are loaded into the transport vehicle.
| Carriage, freight and insurance: Over the period of transporting the products to the customer’s nominated place — where the seller is responsible for carriage, freight and insurance costs, which are included in the contract.
Free on Board |  | At the point in time when products are loaded into the transport vehicle; the customer is responsible for shipping and handling costs.
Delivered at Place |  | At the point in time when products are delivered to and signed for by the customer.
Consignment Sales |  | As and when products are consumed by the customer.
Energy Energy is responsible for the sales and marketing of liquid fuels, pipeline gas and electricity. In South Africa, Energy sells approximately nine billion liters of liquid fuels annually, blended from fuel components produced by the Secunda Synfuels operations, crude oil refined at Natref, as well as some products purchased from other refiners. Energy markets approximately 55 billion standard cubic feet (bscf) of natural and methane-rich gas a year. Energy sells liquid fuel products under both short- and long-term agreements for both retail sales and commercial sales, including sales to other oil companies. The prices for retail sales are regulated and fixed by South African law. For commercial sales and sales to other oil companies, the prices are fixed and determinable according to the specific contract, with periodic price adjustments. Turnover for the supply of fuel is based on measurement through a flow-meter into customers’ tanks. Turnover is derived from the sale of goods produced by the operating facilities and is recognised when, in accordance with the related contract terms, control passes to the customer. Prices are fixed or determinable and collectability is probable. Shipping and handling costs are included in turnover when billed to customers in conjunction with the sale of the products. Turnover is also derived from the rendering of engineering services to external partners in joint ventures upon the proof of completion of the service. Gas is sold under long-term contracts at a price determinable from the supply agreements in accordance with the pricing methodology used by the National Energy Regulator of South Africa (NERSA). Gas analysis and tests of the specifications and content are performed prior to delivery. Turnover is recognised under the following arrangements:
Service/good |  | Delivery terms |  | Control passes to the customer:
Sale of fuel |  | On-delivery |  | At the point in time when the fuel is delivered onto the rail tank car, road tank truck or into the customer pipeline.
|  | Free Carrier |  | At the point in time when the goods are unloaded to the port of shipment; Sasol is not responsible for the freight and insurance.
|  | Carriage Paid To |  | Products: At the point in time when the product is delivered to a specified location or main carrier. Freight: Over the period of transporting the goods to the customer’s nominated place — where the seller is responsible for freight costs, which are included in the contract.
Sale of gas |  | On-delivery |  | At the point in time when the gas has reached the inlet coupling of the customer’s pipeline.
Sale of electricity |  | On-delivery |  | At the point in time when the electricity passes through the supply points to the customer’s transmission line.
The Energy business also develops, implements and manages the group’s international business ventures based on Sasol’s proprietary gas-to-liquids (GTL) technology. Sasol holds 49% in ORYX GTL in Qatar, and an indirect 10% share in Escravos GTL in Nigeria. Group Functions Group Functions includes head office and centralised treasury operations.

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