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v3.23.2

Segment information | 12 Months Ended
--- | ---
Jun. 30, 2023
Segment information |
Segment information | Segment information ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Energy |  | Chemicals | ​ | Corporate | ​ | Consolidation | ​ | ​
​ | ​ | Mining | ​ | Gas | ​ | Fuels | ​ | Africa | ​ | America | ​ | Eurasia | ​ | Centre | ​ | Adjustments | ​ | Total
​ | ​ | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income statement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External turnover |  | 6 386 |  | 7 234 |  | 116 235 |  | 67 772 |  | 44 492 |  | 47 577 |  | — |  | — |  | 289 696
Segment turnover |  | 27 666 |  | 11 988 |  | 118 708 |  | 70 586 |  | 44 942 |  | 48 194 |  | — |  | (32 388) |  | 289 696
Intersegmental turnover |  | (21 280) |  | (4 754) |  | (2 473) |  | (2 814) |  | (450) |  | (617) |  | — |  | 32 388 |  | —
Materials, energy and consumables used |  | (8 508) |  | (3 834) |  | (76 043) |  | (27 548) |  | (28 605) |  | (39 427) |  | (210) |  | 31 878 |  | (152 297)
Selling and distribution costs |  | — |  | — |  | (43) |  | (4 974) |  | (3 773) |  | (1 717) |  | — |  | 37 |  | (10 470)
Maintenance expenditure |  | (4 056) |  | (345) |  | (4 361) |  | (3 565) |  | (2 324) |  | (1 120) |  | (719) |  | 1 414 |  | (15 076)
Employee-related expenditure |  | (6 743) |  | (637) |  | (4 544) |  | (5 426) |  | (4 588) |  | (5 403) |  | (6 394) |  | 191 |  | (33 544)
Depreciation and amortisation |  | (2 394) |  | (569) |  | (2 242) |  | (4 197) |  | (4 645) |  | (1 699) |  | (745) |  | — |  | (16 491)
Other expenses and income |  | (3 441) |  | (73) |  | (5 211) |  | (6 303) |  | (5 466) |  | 884 |  | 11 719 |  | (1 132) |  | (9 023)
Equity accounted profits, net of tax |  | 2 |  | 439 |  | 2 038 |  | 144 |  | — |  | — |  | — |  | — |  | 2 623
Remeasurement items affecting operating profit |  | 54 |  | (537) |  | (35 430) |  | (1 048) |  | 3 916 |  | (900) |  | 47 |  | — |  | (33 898)
Earnings/(loss) before interest and tax (EBIT/LBIT) |  | 2 580 |  | 6 432 |  | (7 128) |  | 17 669 |  | (543) |  | (1 188) |  | 3 698 |  | — |  | 21 520
Statement of cash flows |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to non-current assets1 |  | 2 979 |  | 5 600 |  | 8 909 |  | 8 202 |  | 2 491 |  | 1 827 |  | 846 |  | — |  | 30 854
1Excludes capital project related payables. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Energy | ​ | Chemicals | ​ | Corporate | ​ | Consolidation | ​ | ​
​ | ​ | Mining | ​ | Gas | ​ | Fuels* | ​ | Africa | ​ | America | ​ | Eurasia | ​ | Centre | ​ | Adjustments | ​ | Total*
​ | ​ | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm
20221 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income statement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External turnover |  | 6 370 |  | 7 789 |  | 97 996 |  | 64 054 |  | 41 496 |  | 55 011 |  | 30 |  | — |  | 272 746
Segment turnover |  | 24 386 |  | 11 941 |  | 99 972 |  | 67 275 |  | 41 926 |  | 55 419 |  | 56 |  | (28 229) |  | 272 746
Intersegmental turnover |  | (18 016) |  | (4 152) |  | (1 976) |  | (3 221) |  | (430) |  | (408) |  | (26) |  | 28 229 |  | —
Materials, energy and consumables used |  | (6 063) |  | (2 055) |  | (59 525) |  | (22 681) |  | (21 243) |  | (40 094) |  | (162) |  | 27 824 |  | (123 999)
Selling and distribution costs |  | — |  | — |  | (49) |  | (3 934) |  | (2 920) |  | (1 811) |  | — |  | 37 |  | (8 677)
Maintenance expenditure |  | (3 492) |  | (728) |  | (3 602) |  | (3 063) |  | (2 078) |  | (956) |  | (589) |  | 1 186 |  | (13 322)
Employee-related expenditure |  | (5 826) |  | (772) |  | (4 491) |  | (5 424) |  | (4 003) |  | (5 454) |  | (6 611) |  | 126 |  | (32 455)
Depreciation and amortisation |  | (2 230) |  | (500) |  | (1 468) |  | (3 667) |  | (3 917) |  | (1 576) |  | (715) |  | — |  | (14 073)
Other expenses and income |  | (3 090) |  | (1 759) |  | (5 704) |  | (5 867) |  | (3 977) |  | (941) |  | (9 552) |  | (944) |  | (31 834)
Equity accounted (losses)/profits, net of tax |  | (1) |  | (4) |  | 3 043 |  | 90 |  | — |  | — |  | — |  | — |  | 3 128
Remeasurement items affecting operating profit |  | (228) |  | 8 499 |  | (217) |  | 1 343 |  | (2 807) |  | 2 965 |  | 348 |  | — |  | 9 903
Earnings/(loss) before interest and tax (EBIT/LBIT) |  | 3 456 |  | 14 622 |  | 27 959 |  | 24 072 |  | 981 |  | 7 552 |  | (17 225) |  | — |  | 61 417
Statement of cash flows |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to non-current assets2 |  | 2 552 |  | 2 569 |  | 6 325 |  | 7 308 |  | 1 909 |  | 1 402 |  | 648 |  | — |  | 22 713
* | The Group has revised Turnover and Materials, energy and consumables used for the Fuels segment by R 2 992 million respectively for 2022. The error had no impact on earnings, refer note 1.
1 | The comparative information has been enhanced to include material items of expenses that impact on the profit measure. Comparative amounts have been provided.
2 | Excludes capital project related payables.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Energy | ​ | Chemicals |  | Corporate |  | Consolidation | ​ | ​
​ | ​ | Mining | ​ | Gas | ​ | Fuels | ​ | Africa | ​ | America | ​ | Eurasia | ​ | Centre |  | Adjustments | ​ | Total
​ | ​ | Rm |  | Rm |  | Rm | ​ | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm
20211 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income statement | ​ |  |  |  |  |  | ​ |  |  |  |  |  |  |  |  |  |  |
External turnover | ​ | 2 025 |  | 7 321 |  | 59 393 | ​ | 58 260 |  | 29 358 |  | 45 539 |  | 14 |  | — |  | 201 910
Segment turnover | ​ | 21 704 |  | 10 990 |  | 60 649 | ​ | 60 597 |  | 29 360 |  | 46 038 |  | 26 |  | (27 454) |  | 201 910
Intersegmental turnover | ​ | (19 679) |  | (3 669) |  | (1 256) | ​ | (2 337) |  | (2) |  | (499) |  | (12) |  | 27 454 |  | —
Materials, energy and consumables used | ​ | (5 066) |  | (1 185) |  | (41 476) | ​ | (22 126) |  | (12 965) |  | (29 675) |  | (133) |  | 27 256 |  | (85 370)
Selling and distribution costs | ​ | — |  | — |  | (21) | ​ | (3 836) |  | (2 289) |  | (1 910) |  | — |  | 30 |  | (8 026)
Maintenance expenditure | ​ | (3 104) |  | (364) |  | (3 181) | ​ | (2 985) |  | (1 966) |  | (1 021) |  | (381) |  | 887 |  | (12 115)
Employee-related expenditure | ​ | (5 232) |  | (826) |  | (4 311) | ​ | (6 788) |  | (4 173) |  | (6 063) |  | (5 759) |  | 304 |  | (32 848)
Depreciation and amortisation | ​ | (2 223) |  | (1 463) |  | (3 401) | ​ | (4 461) |  | (3 637) |  | (1 687) |  | (772) |  | — |  | (17 644)
Other expenses and income | ​ | (2 803) |  | (1 151) |  | (3 975) | ​ | (5 638) |  | (3 550) |  | (1 089) |  | 12 345 |  | (1 023) |  | (6 884)
Equity accounted (losses)/profits, net of tax | ​ | (3) |  | — |  | 742 | ​ | 83 |  | — |  | 1 |  | (9) |  | — |  | 814
Remeasurement items affecting operating profit | ​ | (46) |  | 655 |  | (23 196) | ​ | (7 889) |  | 7 336 |  | 86 |  | (164) |  | — |  | (23 218)
Earnings/(loss) before interest and tax (EBIT/LBIT) | ​ | 3 227 |  | 6 656 |  | (18 170) | ​ | 6 957 |  | 8 116 |  | 4 680 |  | 5 153 |  | — |  | 16 619
Statement of cash flows | ​ |  |  |  |  |  | ​ |  |  |  |  |  |  |  |  |  |  |
Additions to non-current assets2 | ​ | 2 704 |  | 711 |  | 3 549 | ​ | 5 508 |  | 1 152 |  | 1 796 |  | 528 |  | — |  | 15 948
1 | The comparative information has been enhanced to include material items of expenses that impact on the profit measure. Comparative amounts have been provided.
2 | Excludes capital project related payables.
Geographic region information* ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | South |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
​ | ​ | Africa** | ​ | Mozambique | ​ | United States | ​ | Europe | ​ | Rest of World | ​ | Total**
​ | ​ | Rm | ​ | Rm | ​ | Rm | ​ | Rm | ​ | Rm | ​ | Rm
2023 |  |  |  |  |  |  |  |  |  |  |  |
External turnover1 |  | 142 804 |  | 1 146 |  | 46 334 |  | 55 996 |  | 43 416 |  | 289 696
Earnings before interest and tax (EBIT)2 |  | 7 872 |  | 1 051 |  | 1 899 |  | 4 957 |  | 5 741 |  | 21 520
Tax paid |  | 11 516 |  | 1 837 |  | 12 |  | 493 |  | 94 |  | 13 952
Non-current assets3 |  | 67 389 |  | 18 915 |  | 143 714 |  | 19 708 |  | 11 083 |  | 260 809
2022 |  |  |  |  |  |  |  |  |  |  |  |
External turnover1 |  | 130 411 |  | 1 921 |  | 44 080 |  | 58 177 |  | 38 157 |  | 272 746
Earnings before interest and tax (EBIT)2 |  | 29 305 |  | 965 |  | 4 644 |  | 12 406 |  | 14 097 |  | 61 417
Tax paid |  | 11 739 |  | 1 001 |  | 36 |  | 657 |  | 98 |  | 13 531
Non-current assets3 |  | 90 524 |  | 15 036 |  | 123 618 |  | 16 161 |  | 10 122 |  | 255 461
2021 |  |  |  |  |  |  |  |  |  |  |  |
External turnover1 |  | 84 844 |  | 1 799 |  | 31 247 |  | 48 529 |  | 35 491 |  | 201 910
(Loss)/earnings before interest and tax ((LBIT)/EBIT)2 |  | (7 523) |  | 2 323 |  | 9 616 |  | 5 354 |  | 6 849 |  | 16 619
Tax paid/(received) |  | 6 622 |  | 927 |  | (3 340) |  | 997 |  | 74 |  | 5 280
Non-current assets3 |  | 76 070 |  | 14 100 |  | 113 088 |  | 16 748 |  | 10 471 |  | 230 477
* | In the current year, the geographic area information was reorganised to separately disclose information relating to Mozambique (which was previously grouped under Rest of Africa) while information relating to the rest of the countries in Africa and North America were aggregated with countries in the Rest of World column. Comparative amounts have been adjusted accordingly.
** | The Group has revised Turnover for South Africa by R2 992 million for 2022. The error had no impact on earnings, refer note 1.
1 | The analysis of turnover is based on the location of the customer.
2 | Includes equity accounted profits remeasurement items.
3 | 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). ​ 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 National Petroleum Refiners of South Africa (Pty) Ltd (Natref). There are also associated assets outside South Africa which include the Pande-Temane Petroleum Production Agreement 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 (SO), for utility purposes to Sasolburg Operations and to third parties in the export market. Coal is supplied to SO 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.
​ Gas The Gas segment reflects the upstream feedstock, transport of gas through the Republic of Mozambique Pipeline Investments Company (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. ​
| ​ |
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.
​ 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 needs through retail and wholesale channels. Liquid fuels are blended from fuel components produced by the SO, crude oil refined at Natref, as well as some products purchased from other refiners as well as fuel imports. 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.
​ The Fuels segment 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. ​ 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: ​
| ​ |
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, insurance and freight: 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.
​ Corporate Centre The Corporate Centre includes head office and centralised treasury operations.

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