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Segment information

12 Months Ended

Jun. 30, 2022

Segment information

Segment information

SEGMENT INFORMATION

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​	​	​	​	​	​	​	​	​	​					​	​	​	​	​	​	​	Chemicals					​	Chemicals					​	Chemicals					​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	Mining					​	Gas					​	Fuels					​	Africa					​	America					​	Eurasia					​	Corporate Centre					​	Total
​	​	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020
​			Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm
Income statement	​	​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​		​
External turnover		​	6 370		2 025		1 343		7 789		7 321		8 350		100 988		59 393		60 816		64 054		58 260		51 600		41 496		29 358		28 721		55 011		45 539		39 537		30		14		—		275 738		201 910		190 367	​
Total turnover		​	24 386		21 704		19 891		11 941		10 990		12 419		102 964		60 649		62 553		67 275		60 597		54 310		41 926		29 360		28 809		55 419		46 038		39 989		56		26		30		303 967		229 364		218 001	​
Intersegmental turnover		​	(18 016)		(19 679)		(18 548)		(4 152)		(3 669)		(4 069)		(1 976)		(1 256)		(1 737)		(3 221)		(2 337)		(2 710)		(430)		(2)		(88)		(408)		(499)		(452)		(26)		(12)		(30)		(28 229)		(27 454)		(27 634)	​
Equity accounted profits, net of tax		​	(1)		(3)		(2)		(4)		—		—		3 043		742		(347)		90		83		21		—		—		—		—		1		—		—		(9)		(19)		3 128		814		(347)	​
Earnings/(loss) before interest and tax		​	3 456		3 227		2 756		14 622		6 656		5 527		27 959		(18 170)		(11 609)		24 072		6 957		(17 035)		981		8 116		(77 556)		7 552		4 680		(894)		(17 225)		5 153		(13 115)		61 417		16 619		(111 926)	​
Remeasurement items*		​	228		46		113		(8 499)		(655)		(30)		217		23 196		11 990		(1 343)		7 889		24 122		2 807		(7 336)		73 166		(2 965)		(86)		2 387		(348)		164		230		(9 903)		23 218		111 978	​
Depreciation and amortisation		​	2 230	​	2 223		2 080		500		1 463		2 002		1 468		3 401		4 809		3 667		4 461		5 649		3 917		3 637		5 085		1 576		1 687		1 821		715		772		881		14 073		17 644		22 327	​
Statement of cash flows		​																																																​
Additions to non-current assets**		​	2 552		2 704		2 859		2 569		711		1 539		6 325		3 549		5 232		7 308		5 508		6 845		1 909		1 152		15 654		1 402		1 796		2 158		648		528		877		22 713		15 948		35 164	​

* Excludes equity accounted investments.

**  Excludes capital project related payables.

GEOGRAPHIC SEGMENT INFORMATION

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​	​	​	​	​	​	​	​	​					​	​	​	​	​	​	​	​					​	​					​	​	​	​	​	​	​	​	​	​	​	​
​	​	South Africa					​	Rest of Africa					​	United States					​	Rest of North America					​	Europe					​	Rest of World					​	Total operations
​	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020	​	2022	​	2021	​	2020
​		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm		Rm
External turnover*		133 403		84 844		84 528		9 428		8 853		7 776		44 080		31 247		28 295		5 231		4 183		3 758		58 177		48 529		44 280		25 419		24 254		21 730		275 738		201 910		190 367
Earnings/(loss) before interest and tax**		29 305		(7 523)		(37 029)		1 985		4 541		1 821		4 644		9 616		(75 827)		5 219		646		(481)		12 406		5 354		105		7 858		3 985		(515)		61 417		16 619		(111 926)
Tax paid		11 739		6 622		3 138		1 032		955		1 607		36		(3 340)		20		—		—		—		657		997		854		67		46		40		13 531		5 280		5 659
Non-current assets***		90 524		76 070		106 922		15 041		14 116		18 896		123 618		113 088		106 371		—		—		1 329		16 161		16 748		18 948		10 117		10 455		11 968		255 461		230 477		264 434

* The analysis of turnover is based on the location of the customer.

** Includes equity accounted profits/(losses) remeasurement items.

*** Excludes deferred tax assets and post-retirement benefit assets.

REPORTING SEGMENTS

The group’s operating model comprises of two distinct businesses, Energy and Chemicals. The Energy business manages the marketing and sales of all fuel, coal, gas and oil products in Southern Africa. The Chemicals business includes the marketing and sales of all chemical products in Africa, America and Eurasia. The operating model structure reflects how the results are reported to the Chief Operating Decision Maker (CODM). The CODM for Sasol is the President and Chief Executive Officer. The Energy business reportable segments are operating segments that are differentiated by the activities that each undertakes and the products they manufacture and market. The Chemicals business reportable segments are differentiated by the regions in which they operate. The group has six main reportable segments that reflect the structure used by the President and Chief Executive Officer to make key operating decisions and assess performance. The group evaluates the performance of its reportable segments based on earnings before interest and tax (EBIT).

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Energy business

The Energy business operates integrated value chains with feedstock sourced from the Mining and Gas operating segments and processed at our operations in Secunda, Sasolburg and Natref. There are also associated assets outside South Africa which include the Pande-Temane Petroleum Production Agreement (PPA) in Mozambique and ORYX GTL (gas to liquids) in Qatar.

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 Operations, for utility purposes to Sasolburg Operations and to third parties in the export market. Coal is supplied to Secunda Operations on arms-length terms and to Sasolburg operations based on a long-term supply contract with inflation linked escalation. The price of export coal is based on the Free on Board Richards Bay index.

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
On delivery	​	At the point in time when the coal is delivered 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.

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GAS

The Gas segment reflects the upstream feedstock, transport of gas through the ROMPCO pipeline, and external natural and methane rich gas sales.

Mozambican gas is sold under long-term contracts to the Sasol operations and to external customers. Condensate is sold on short-term contracts. In South Africa, 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). Analysis of gas and tests of the specifications and content are performed prior to delivery. Turnover from all gas sales is recognised on delivery.

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	​
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, condensate or oil, or directs the use of it. The customer is responsible for transportation and handling costs in terms of gas, condensate and oil.

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FUELS

The Fuels segment comprises the sales and marketing of liquid fuels produced in South Africa. Sasol supplies approximately 40% of South Africa's domestic fuel need through retail and wholesale channels. Liquid fuels are blended from fuel components produced by the Secunda Operations, crude oil refined at Natref, as well as some products purchased from other refiners. Liquid fuel products are sold under both short- and long-term agreements for both retail sales and commercial sales, including sales to other oil companies.

Liquid fuel prices are mainly driven by the Basic Fuel Price (BFP). Sales through wholesale is at BFP plus costs such as transportation and storage. 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 is recognised as follows:

	​
Delivery terms		Control passes to the customer:
​	​	​
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.

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The Fuels 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.

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Chemicals business

Chemical products are grouped into Advanced Materials, Base Chemicals, Essential Care Chemicals and Performance Solutions.

The Chemicals businesses sell the majority of their products under contracts at prices determinable from such agreements. Turnover is recognised in accordance with the related contract terms, at the point at which control transfers to the customer and 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:

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	​
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.

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CORPORATE CENTRE

The Corporate Centre includes head office and centralised treasury operations.

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- Definition

The entire disclosure for operating segments.

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