Equity accounted investments (Tables)

12 Months Ended

Jun. 30, 2019

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%.