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Equity accounted investments (Tables) | 12 Months Ended
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Jun. 30, 2019
Equity accounted investments. |
Schedule of equity accounted investments |
|  | 2019 |  | 2018 |
for the year ended 30 June |  | Rm |  | Rm |
Amounts recognised in the statement of financial position: |  |  |  |  |
Investments in joint ventures and associates |  | 9 866 |  | 10 991 |
|  | 2019 |  | 2018 |
for the year ended 30 June |  | Rm |  | Rm |
Business segmentation |  |  |  |  |
 | Mining |  | 5 |  | 1 |
 | Energy |  | 9 449 |  | 9 667 |
 | Base Chemicals |  | 273 |  | 1 164 |
 | Performance Chemicals |  | 16 |  | 16 |
 | Group Functions |  | 123 |  | 143 |
Total carrying value of equity accounted investments |  | 9 866 |  | 10 991 |
|  | 2019 |  | 2018 |  | 2017 |
for the year ended 30 June |  | Rm |  | Rm |  | Rm |
Amounts recognised in the income statement: |  |  |  |  |  |  |
Share of profits of equity accounted investments, net of tax |  | 1 074 |  | 1 443 |  | 1 071 |
share of profits |  | 1 089 |  | 1 454 |  | 1 085 |
remeasurement items |  | (15 | ) | (11 | ) | (14 | )
Amounts recognised in the statement of cash flows: |  |  |  |  |  |  |
Dividends received from equity accounted investments |  | 1 506 |  | 1 702 |  | 1 539 |
Schedule of interest in equity accounted investments and total carrying values |
|  | Country of |  |  |  | Interest |  | 2019 |  | 2018 |
Name |  | incorporation |  | Nature of activities |  | % |  | Rm |  | Rm |
Joint ventures |  |  |  |  |  |  |  |  |  |  |
ORYX GTL Limited |  | Qatar |  | GTL plant |  | 49 |  | 8 239 |  | 8 179 |
Sasol Huntsman GmbH & co KG* |  | Germany |  | Manufacturing of chemical products |  | 50 |  | — |  | 893 |
Sasol Dyno Nobel (Pty) Ltd |  | South Africa |  | Manufacturing and distribution of explosives |  | 50 |  | 273 |  | 271 |
Sasol Chevron Holdings Limited |  | Bermuda |  | Marketing of Escravos GTL products |  | 50 |  | 274 |  | 311 |
Associates |  |  |  |  |  |  |  |  |  |  |
Escravos GTL (EGTL)** |  | Nigeria |  | GTL plant |  | 10 |  | 753 |  | 1 027 |
Other equity accounted investments |  |  |  |  |  | Various |  | 327 |  | 310 |
Carrying value of investments |  |  |  |  |  |  |  | 9 866 |  | 10 991 |
*The group’s investment in Sasol Huntsman GmbH & co KG has been classified as held for sale. Refer to note 11. **Although the group holds less than 20% of the voting power of EGTL, the group has significant influence with regards to the management and technical support to the plant.
Summarised financial information for the group's share of equity accounted investments which are not material | Summarised financial information for the group’s share of equity accounted investments which are not material***
|  | 2019 |  | 2018 |
for the year ended 30 June |  | Rm |  | Rm |
Operating profit |  | 13 |  | 419 |
(Loss)/profit before tax |  | (2 | ) | 427 |
Taxation |  | (56 | ) | (152 | )
(Loss)/profit and total comprehensive income for the year |  | (58 | ) | 275 |
***The financial information provided represents the group’s share of the results of the equity accounted investments.
Schedule of capital commitments relating to equity accounted investments |
|  | 2019 |  | 2018 |
Capital commitments relating to equity accounted investments |  | Rm |  | Rm |
Capital commitments, excluding capitalised interest, include all projects for which specific board approval has been obtained up to the reporting date. Projects still under investigation for which specific board approvals have not yet been obtained are excluded from the following: |  |  |  |  |
Authorised and contracted for |  | 715 |  | 536 |
Authorised but not yet contracted for |  | 1 100 |  | 623 |
Less: expenditure to the end of year |  | (532 | ) | (266 | )
|  | 1 283 |  | 893 |
Summarised financial information for the group's material equity accounted investments |
|  | Joint venture |
|  | ORYX GTL Limited |
|  | 2019 |  | 2018 |
for the year ended 30 June |  | Rm |  | Rm |
Summarised statement of financial position |  |  |  |  |
Non-current assets |  | 11 964 |  | 12 202 |
Current assets |  | 6 722 |  | 6 640 |
Total assets |  | 18 686 |  | 18 842 |
Other non-current liabilities |  | 378 |  | 360 |
Deferred tax liability |  | (22 | ) | 9 |
Other current liabilities |  | 1 337 |  | 1 036 |
Tax payable |  | 100 |  | 436 |
Total liabilities |  | 1 793 |  | 1 841 |
Net assets |  | 16 893 |  | 17 001 |
Summarised income statement |  |  |  |  |
Turnover |  | 9 977 |  | 10 159 |
Depreciation and amortisation |  | (1 420 | ) | (1 190 | )
Other operating expenses |  | (5 039 | ) | (5 313 | )
Operating profit before interest and tax |  | 3 518 |  | 3 656 |
Finance income |  | 33 |  | 11 |
Finance cost |  | (3 | ) | (1 | )
Profit before tax |  | 3 548 |  | 3 666 |
Taxation |  | (607 | ) | (628 | )
Profit and total comprehensive income for the year |  | 2 941 |  | 3 038 |
The group’s share of profits of equity accounted investment |  | 1 131 |  | 1 168 |
49% share of profit before tax |  | 1 738 |  | 1 796 |
Taxation* |  | (607 | ) | (628 | )
Reconciliation of summarised financial information |  |  |  |  |
Net assets at the beginning of the year |  | 17 001 |  | 15 334 |
Profit before tax for the year |  | 3 548 |  | 3 666 |
Taxation* |  | (607 | ) | (628 | )
Foreign exchange differences |  | 490 |  | 839 |
Dividends paid |  | (3 539 | ) | (2 210 | )
Net assets at the end of the year |  | 16 893 |  | 17 001 |
Additional Sasol specific liabilities* |  | (79 | ) | (309 | )
Adjusted net assets at the end of the period |  | 16 814 |  | 16 692 |
Carrying value of equity accounted investment |  | 8 239 |  | 8 179 |
*With effect from 29 April 2017, as a result of change in tax regulations, tax is levied only on Sasol’s share of profits at a rate of 35%.

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