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v3.19.3

Interest in joint operations | 12 Months Ended
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Jun. 30, 2019
Interest in joint operations |
Interest in joint operations | 21 Interest in joint operations At 30 June, the group’s interest in material joint operations were:
|  |  |  |  |  | % of equity owned |
|  |  |  |  |  | 2019 |  | 2018 |
Name |  | Country of incorporation |  | Nature of activities |  | Rm |  | Rm |
Gemini HDPE LLC |  | United States of America |  | Manufactures high density polyethylene chemicals |  | 50 |  | 50 |
Sasol Canada |  | Canada |  | Development of shale gas reserves and production and marketing of shale gas |  | 50 |  | 50 |
Natref |  | South Africa |  | Refining of crude oil |  | 64 |  | 64 |
The information provided is Sasol’s share of joint operations (excluding unincorporated joint operations) and includes intercompany transactions and balances.
|  | Gemini |  | Sasol |  |  |  |  |  | Total |  | Total |
|  | HDPE LLC |  | Canada |  | Natref |  | Other* |  | 2019 |  | 2018 |
for the year ended 30 June |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
Statement of financial position |  |  |  |  |  |  |  |  |  |  |  |  |
External non-current assets |  | 4 462 |  | 1 180 |  | 3 531 |  | 1 685 |  | 10 858 |  | 13 055 |
External current assets |  | 73 |  | 288 |  | 292 |  | 998 |  | 1 651 |  | 1 503 |
Intercompany current assets |  | 18 |  | 1 |  | 18 |  | 72 |  | 109 |  | 1 146 |
Total assets |  | 4 553 |  | 1 469 |  | 3 841 |  | 2 755 |  | 12 618 |  | 15 704 |
Shareholders’ equity |  | 1 869 |  | 209 |  | 240 |  | 570 |  | 2 888 |  | 5 389 |
Long-term liabilities |  | 2 480 |  | 1 155 |  | 2 887 |  | 1 479 |  | 8 001 |  | 7 710 |
Interest-bearing current liabilities |  | 120 |  | — |  | 167 |  | 302 |  | 589 |  | 1 408 |
Non-interest-bearing current liabilities |  | 84 |  | 104 |  | 381 |  | 168 |  | 737 |  | 771 |
Intercompany current liabilities |  | — |  | 1 |  | 166 |  | 236 |  | 403 |  | 426 |
Total equity and liabilities |  | 4 553 |  | 1 469 |  | 3 841 |  | 2 755 |  | 12 618 |  | 15 704 |
Income statement |  |  |  |  |  |  |  |  |  |  |  |  |
Turnover |  | 441 |  | 239 |  | 2 061 |  | 1 394 |  | 4 135 |  | 3 660 |
Operating (loss)/profit |  | (117 | ) | (2 747 | ) | 457 |  | 84 |  | (2 323 | ) | (3 089 | )
Other expenses |  | (58 | ) | (13 | ) | (213 | ) | (160 | ) | (444 | ) | (438 | )
Net (loss)/profit before tax |  | (175 | ) | (2 760 | ) | 244 |  | (76 | ) | (2 767 | ) | (3 527 | )
Taxation |  | — |  | — |  | (79 | ) | 17 |  | (62 | ) | (49 | )
Attributable (loss)/profit |  | (175 | ) | (2 760 | ) | 165 |  | (59 | ) | (2 829 | ) | (3 576 | )
Statement of cash flows |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow from operations |  | — |  | 31 |  | 887 |  | 419 |  | 1 337 |  | 1 189 |
Movement in working capital |  | (25 | ) | 39 |  | 55 |  | (180 | ) | (111 | ) | 397 |
Tax paid |  | — |  | — |  | 2 |  | (26 | ) | (24 | ) | (5 | )
Other expenses |  | (143 | ) | — |  | (209 | ) | (209 | ) | (561 | ) | (485 | )
Cash available from operations |  | (168 | ) | 70 |  | 735 |  | 4 |  | 641 |  | 1 096 |
Dividends paid |  | — |  | — |  | (230 | ) | — |  | (230 | ) | (111 | )
Cash retained from operations |  | (168 | ) | 70 |  | 505 |  | 4 |  | 411 |  | 985 |
Cash flow from investing activities |  | (80 | ) | (124 | ) | (609 | ) | (30 | ) | (843 | ) | (712 | )
Cash flow from financing activities |  | 244 |  | (804 | ) | 142 |  | (194 | ) | (612 | ) | 1 575 |
(Increase)/decrease in cash requirements |  | (4 | ) | (858 | ) | 38 |  | (220 | ) | (1 044 | ) | 1 848 |
*Includes Central Térmica de Ressano Garcia (CTRG) and Sasol Wilmar Alcohol Industries (Lianyungang) Co Ltd. The group has classified its investment in Sasol Wilmar Alcohol Industries (Lianyungang) Co Ltd as held for sale at 30 June 2019. Refer to note 11. At 30 June 2019, the group’s share of the total capital commitments of joint operations amounted to R1 080 million (2018 — R427 million).

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- Definition The disclosure of interests in joint arrangements. A joint arrangement is an arrangement of which two or more parties have joint control. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2018-01-01 -Paragraph 2 -Subparagraph b -Clause ii -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2018-03-01&anchor=para_2_b_ii&doctype=Standard -URIDate 2018-03-16 + Details
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