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Equity accounted investments (Tables) | 12 Months Ended
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Jun. 30, 2023
Equity accounted investments |
Schedule of interest in equity accounted investments and total carrying values | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Country of |  |  |  | Interest |  | 2023 |  | 2022
Name | ​ | incorporation | ​ | Nature of activities | ​ | % | ​ | Rm | ​ | Rm
Joint ventures | ​ |  | ​ |  | ​ |  | ​ |  | ​ |
ORYX GTL Limited |  | Qatar |  | GTL plant |  | 49 |  | 10 693 |  | 8 920
Sasol Dyno Nobel (Pty) Ltd |  | South Africa |  | Manufacturing and distribution of explosives |  | 50 |  | 304 |  | 267
Associates |  | ​ |  |  |  | ​ |  | ​ |  |
Enaex Africa (Pty) Ltd |  | South Africa |  | Manufacturing and distribution of explosives |  | 23 |  | 402 |  | 309
The Republic of Mozambique Pipeline Investment Company (Pty) Ltd (ROMPCO) | ​ | South Africa | ​ | Owning and operating of the natural gas transmission pipeline between Temane in Mozambique and Secunda in South Africa for the transportation of natural gas produced in Mozambique to markets in Mozambique and South Africa | ​ | 20 | ​ | 2 823 | ​ | 2 753
Other equity accounted investments |  | ​ |  | ​ |  | Various |  | 582 |  | 435
Carrying value of investments |  |  |  |  |  |  |  | 14 804 |  | 12 684
​
Summarised financial information for the Group's share of equity accounted investments which are not material | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
for the year ended 30 June | ​ | Rm | ​ | Rm
Operating profit |  | 218 |  | 114
Profit before tax |  | 250 |  | 159
Taxation |  | (72) |  | (50)
Profit for the year |  | 178 |  | 109
| * | 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 | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
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 |  | 1 357 |  | 688
Authorised but not yet contracted for |  | 972 |  | 884
Less: expenditure to the end of year |  | (981) |  | (562)
​ |  | 1 348 |  | 1 010
Summarised financial information for the Group's material joint ventures | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Joint venture |
​ |  | ORYX GTL Limited |
​ |  | 2023 |  | 2022 |
for the year ended 30 June |  | Rm |  | Rm |
Summarised statement of financial position | ​ |  | ​ | ​ | ​ |
Non-current assets | ​ | ​ | 14 621 | ​ | 13 723 | ​
Deferred tax asset | ​ | ​ | 423 | ​ | 292 | ​
Cash and cash equivalents | ​ | ​ | 2 897 | ​ | 4 208 | ​
Other current assets | ​ | ​ | 7 905 | ​ | 7 775 | ​
Total assets | ​ | ​ | 25 846 | ​ | 25 998 | ​
Non-current liabilities | ​ | ​ | 751 | ​ | 704 | ​
Other current liabilities | ​ | ​ | 1 629 | ​ | 4 594 | ​
Tax payable | ​ | ​ | 1 642 | ​ | 2 496 | ​
Total liabilities | ​ | ​ | 4 022 | ​ | 7 794 | ​
Net assets | ​ | ​ | 21 824 | ​ | 18 204 | ​
Summarised income statement | ​ | ​ | ​ | ​ | ​ | ​
Turnover | ​ | ​ | 13 761 | ​ | 16 620 | ​
Depreciation and amortisation | ​ | ​ | (2 148) | ​ | (1 625) | ​
Other operating expenses | ​ | ​ | (5 434) | ​ | (5 497) | ​
Operating profit before interest and tax | ​ | ​ | 6 179 | ​ | 9 498 | ​
Finance income | ​ | ​ | 154 | ​ | 33 | ​
Finance cost | ​ | ​ | (43) | ​ | (42) | ​
Profit before tax | ​ | ​ | 6 290 | ​ | 9 489 | ​
Taxation | ​ | ​ | (2 193) | ​ | (3 329) | ​
Profit and total comprehensive income for the year | ​ | ​ | 4 097 | ​ | 6 160 | ​
The Group’s share of profits of equity accounted investment | ​ | ​ | 2 007 | ​ | 3 019 | ​
49% share of profit before tax | ​ | ​ | 3 082 | ​ | 4 650 | ​
Taxation | ​ | ​ | (1 075) | ​ | (1 631) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of summarised financial information | ​ | ​ |  | ​ | ​ | ​
Net assets at the beginning of the year | ​ | ​ | 18 204 | ​ | 19 039 | ​
Earnings before tax for the year | ​ | ​ | 6 290 | ​ | 9 489 | ​
Taxation | ​ | ​ | (2 193) | ​ | (3 329) | ​
Foreign exchange differences | ​ | ​ | 2 934 | ​ | 2 438 | ​
Dividends paid1 | ​ | ​ | (3 411) | ​ | (9 433) | ​
Net assets at the end of the year | ​ | ​ | 21 824 | ​ | 18 204 | ​
Carrying value of equity accounted investment | ​ | ​ | 10 693 | ​ | 8 920 | ​
| 1 | In 2022 ORYX GTL Limited declared a dividend of R4,6 billion (Sasol’s share) of which R3 billion was received by 30 June 2022.
Summarised financial information for the Group's material associates | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Associate
​ | ​ | The Republic of
​ | ​ | Mozambique Pipeline
​ | ​ | Investment Company
​ | ​ | (Pty) Ltd (ROMPCO)
​ | ​ | 2023 | ​ | 2022
for the year ended 30 June |  | Rm |  | Rm
Summarised statement of financial position |  |  |  |
Non-current assets |  | 4 334 |  | 3 881
Cash and cash equivalents |  | 1 070 |  | 1 056
Other current assets |  | 613 |  | 373
Total assets |  | 6 017 |  | 5 310
Non-current liabilities |  | 736 |  | 812
Other current liabilities |  | 116 |  | 125
Tax payable |  | 493 |  | 51
Total liabilities |  | 1 345 |  | 988
Net assets |  | 4 672 |  | 4 322
Summarised income statement |  | ​ | ​ | ​
Turnover |  | 4 270 |  | —
Depreciation and amortisation | ​ | (563) | ​ | —
Other operating expenses | ​ | (266) | ​ | —
Operating profit before interest and tax | ​ | 3 441 | ​ | —
Finance income | ​ | 85 | ​ | —
Finance cost | ​ | (10) | ​ | —
Profit before tax | ​ | 3 516 | ​ | —
Taxation | ​ | (1 330) | ​ | —
Earnings and total comprehensive income for the period | ​ | 2 186 | ​ | —
The Group’s share of profits of equity accounted investment | ​ | 437 | ​ | —
20% share of profit before tax | ​ | 703 | ​ | —
Taxation | ​ | (266) | ​ | —
Reconciliation of summarised financial information | ​ | ​ | ​ | ​
Net assets at the beginning of the year | ​ | 4 322 | ​ | —
Acquisition | ​ | — | ​ | 4 322
Earnings before tax for the year | ​ | 3 516 | ​ | —
Taxation | ​ | (1 330) | ​ | —
Other movements | ​ | 140 | ​ | —
Dividends paid | ​ | (1 976) | ​ | —
Net assets at the end of the year | ​ | 4 672 | ​ | 4 322
Carrying value of equity accounted investment1 | ​ | 2 823 | ​ | 2 753
Historical net asset value | ​ | 934 | ​ | 864
Fair value adjustment on acquisition of investment | ​ | 1 889 | ​ | 1 889
| 1 | Carrying value comprising 20% of historical net asset value, as well as the fair value adjustment on acquisition of investment.
Schedule of material related party transactions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
for the year ended 30 June | ​ | Rm | ​ | Rm | ​ | Rm
Transactions with joint ventures and associates |  |  |  |  |  |
Total sales and services rendered from subsidiaries to joint ventures and associates |  | 3 667 |  | 2 737 |  | 2 635
Total purchases by subsidiaries from joint ventures and associates* |  | 3 448 |  | 157 |  | 108
* Includes purchases from ROMPCO which is accounted for as an associate from 29 June 2022.

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