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Salient features
 6 Months Ended
Dec. 31, 2020
Salient features  
Salient features

 

Salient features

 

for the period ended

 

 

 

Half year

Half year

Full year

 

 

31 Dec 20

31 Dec 19

30 Jun 20

 

 

Reviewed

Reviewed

Audited

Other financial information

 

 

 

 

Total debt (including bank overdraft)

Rm

126 341

137 974

189 730

interest-bearing

Rm

126 341

137 910

189 730

non-interest-bearing

Rm

–
64

–

Finance expense capitalised¹

Rm
602

1 974

3 520

Capital commitments (subsidiaries and joint operations)¹

Rm

28 720

49 394

31 950

authorised and contracted

Rm

224 246

217 047

260 620

authorised, not yet contracted

Rm

20 031

37 827

21 136

less expenditure to date

Rm

(215 557)

(205 480)

(249 806)

Capital commitments (equity accounted investments)

Rm
923

1 957

1 277

authorised and contracted

Rm
765
641

1 936

authorised, not yet contracted

Rm
576

1 912

1 089

less expenditure to date

Rm
(418)
(596)

(1 748)

Effective tax rate²

%
16,2
40,7
22,3

Number of employees³

number

29 187

31 363

31 001

 

1

Finance expense capitalised and capital commitments decreased as a result of all LCCP units achieving beneficial operation.

2

The decrease in effective corporate tax rate is mainly as a result of tax losses utilised in the current year which are allowed to be set off against 2021 foreign exchange gains, and the Foreign Currency Translation Reserve (FCTR) reclassified on the disposal of business for which no tax is calculated.

3

The total number of employees includes permanent and non-permanent employees and the Group's share of employees within joint operations, but excludes contractors and equity accounted investments' employees.

 

 

 

 Half year

Half year

Full year

 

 

31 Dec 20

31 Dec 19

30 Jun 20

 

 

Reviewed

Reviewed

Audited

 

 

Rm

Rm

Rm

Reconciliation of headline earnings

 

 

 

 

Earnings/(losses) attributable to owners of Sasol Limited

 

14 491

4 053

(91 109)

Effect of remeasurement items for subsidiaries and joint operations

 

(2 519)
(169)

110 834

Impairment of property, plant and equipment

 
51
464

94 032

Impairment of assets under construction

 
48

–

13 399

Impairment of right of use assets

 
5

–

3 322

Impairment of goodwill and other intangible assets

 
2

–
839

Impairment of other assets¹

 
439
3

–

Profit on disposal of businesses²

 

(2 957)
(983)

(1 684)

(Profit)/loss on disposal of non-current assets

 
(91)
(61)
25

(Profit)/loss on disposal of other assets

 
(60)

–
148

Scrapping of non-current assets

 
39
426
796

Write-off of unsuccessful exploration wells

 
5
(18)
(43)

Tax effects and non-controlling interests

 
(143)
(214)

(27 010)

Effect of remeasurement items for equity accounted investments

 
29

–

–

Headline earnings/(loss)

 

11 858

3 670

(7 285)

Headline earnings/(loss) adjustments by segment

 

 

 

 

Mining

 
(2)
106
113

Exploration and Production International

 
70
(18)
(30)

Energy

 
30
(27)

11 987

Base Chemicals

 

(1 840)
(352)

70 670

Performance Chemicals

 
(775)
118

27 863

Group Functions

 
(2)
4
231

Remeasurement items

 

(2 519)
(169)

110 834

Headline earnings/(loss) per share³

Rand
19,16
5,94
(11,79)

Diluted headline earnings/(loss) per share

Rand
19,06
5,91
(11,79)

 

1

Relates mainly to an impairment of R438 million (US$29,8 million) on the US Phenolic assets which were impaired to its fair value less costs to sell.

2

Included is a loss on disposal of R1,1 billion and a corresponding gain on reclassification of foreign currency translation reserve of R3,1 billion relating to the sale of a portion of our US LCCP Base Chemicals business, as well as a profit on disposal of R719 million and a corresponding gain on reclassification of foreign currency translation reserve of R246 million relating to the sale of our 50% equity interest in the Gemini HDPE LLC.

3

Headline earnings per share refers to disclosure made in terms of the JSE Limited Listing Requirements.