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Financial risk management and financial instruments (Tables) | 12 Months Ended
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Jun. 30, 2024
Financial risk management and financial instruments |
Financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Carrying |  | ​ |  | Carrying |  | ​ |  | ​
​ | ​ | ​ | ​ | value | ​ | Fair value | ​ | value | ​ | Fair value | ​ | Fair value
​ | ​ | ​ | ​ | 2024 | ​ | 2024 | ​ | 2023 | ​ | 2023 | ​ | hierarchy
Financial instrument | ​ | Note | ​ | Rm | ​ | Rm | ​ | Rm | ​ | Rm | ​ | of inputs
Financial assets |  |  |  |  |  |  |  |  |  |  |  |
At amortised cost |  |  |  |  |  |  |  |  |  |  |  |
Long-term restricted cash6 |  |  |  | 1 709 |  | 1 709 |  | 1 447 |  | 1 447 |  | Level 11
Long-term receivables |  | 17 |  | 3 051 |  | 2 906 |  | 2 803 |  | 2 803 |  | Level 32
Trade and other receivables |  | 22 |  | 31 272 |  | 31 272 |  | 30 915 |  | 30 915 |  | Level 33
Cash and cash equivalents |  | 25 |  | 45 383 |  | 45 383 |  | 53 926 |  | 53 926 |  | Level 11
At fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term financial assets |  |  |  | 3 978 |  | 3 978 |  | 2 225 |  | 2 225 |  |
Commodity and currency derivative assets |  |  |  | 1 297 |  | 1 297 |  | 472 |  | 472 |  | Level 2
Oxygen supply contract embedded derivative assets |  |  |  | 508 |  | 508 |  | 516 |  | 516 |  | Level 3
Other short-term investments | ​ | ​ | ​ | 2 173 | ​ | 2 173 | ​ | 1 237 | ​ | 1 237 | ​ | Level 11
Other long-term investments6 | ​ | ​ | ​ | 814 | ​ | 814 | ​ | — | ​ | — | ​ | Level 14
Designated at fair value through other comprehensive income |  |  |  | ​ |  |  |  |  |  |  |  |
Investments in listed securities6 |  |  |  | — |  | — |  | 701 |  | 701 |  | Level 14
Investments in unlisted securities6 |  |  |  | 9 |  | 9 |  | 12 |  | 12 |  | Level 35
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
At amortised cost |  |  |  |  |  |  |  |  |  |  |  |
Total long-term debt |  | 13 |  | 117 031 |  | 113 315 |  | 124 068 |  | 116 533 |  |
Listed long-term debt (USD bonds)7 |  |  |  | 59 687 |  | 55 778 |  | 90 248 |  | 82 768 |  | Level 14
Listed long-term debt (ZAR bonds)7 | ​ | ​ | ​ | 4 530 | ​ | 4 453 | ​ | 2 106 | ​ | 2 079 | ​ | Level 24
Listed convertible bonds7 | ​ | ​ | ​ | 12 099 | ​ | 12 276 | ​ | 12 238 | ​ | 12 072 | ​ | Level 38
Unlisted long-term debt7 |  |  |  | 40 715 |  | 40 808 |  | 19 476 |  | 19 614 |  | Level 32
Lease liabilities9 |  | 14 |  | 17 437 |  | ​ |  | 16 297 |  | ​ |  |
Short-term debt and bank overdraft |  |  |  | 687 |  | 687 |  | 238 |  | 238 |  | Level 33
Trade and other payables |  | 23 |  | 32 551 |  | 32 551 |  | 35 118 |  | 35 118 |  | Level 33
At fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term financial liabilities |  |  |  | 619 |  | 619 |  | 3 397 |  | 3 397 |  |
Commodity and currency derivative liabilities |  |  |  | 18 |  | 18 |  | 1 102 |  | 1 102 |  | Level 2
Convertible bond embedded derivative liability |  |  |  | 59 |  | 59 |  | 1 302 |  | 1 302 |  | Level 3
Oxygen supply contract embedded derivative liabilities |  |  |  | 542 |  | 542 |  | 993 |  | 993 |  | Level 3
| 1 | The carrying value of cash and other short-term investments is considered to reflect its fair value.
| 2 | Determined with a discounted cash flow model using market related interest rates.
| 3 | The fair value of these instruments approximates their carrying value, due to their short-term nature.
| 4 | Based on quoted market price for the same instrument. The ZAR bonds have been classified as a level 2 fair value measurement due to the relatively low level of liquidity in the local debt market.
| 5 | Determined using discounted cash flows modelling forecasted earnings, capital expenditure and debt cash flows of the underlying business, based on the forecasted assumptions of inflation, exchange rates, commodity prices and an appropriate WACC for the region.
| 6 | Presented as part of Other long-term investments in the Statement of financial position.
| 7 | Carrying value includes interest and unamortised loan costs.
| 8 | The fair value of the amortised cost component of the US$ Convertible Bond is based on the quoted price of the instrument after separating the fair value of the derivative component.
| 9 | Recognised under IFRS 16.
Schedule of external credit rating | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Credit rating
Agency | ​ | 2024 | ​ | 2023
S&P |  | BB+ (stable) |  | BB+ (stable)
Moody’s |  | Ba1 (stable) |  | Ba2 (positive)
Schedule of expected credit losses recognised | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 12-month |  |
​ | ​ | Lifetime ECL | ​ | ECL | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | No | ​ | ​
​ | ​ | Significant | ​ | ​ | ​ | ​ | ​ | ​ | ​ | significant | ​ | ​
​ | ​ | increase in | ​ | Simplified | ​ | ​ | ​ | ​ | ​ | increase in | ​ | ​
​ | ​ | credit risk | ​ | approach | ​ | ​ | ​ | ​ | ​ | credit risk | ​ | Total
​ | ​ | since initial | ​ | for trade | ​ | Credit- | ​ | Total lifetime | ​ | since initial | ​ | expected
​ | ​ | recognition | ​ | receivables | ​ | impaired | ​ | ECL | ​ | recognition | ​ | credit loss
​ |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm
2024 |  |  |  |  |  |  |  |  |  |  |  |
Long-term receivables |  | — |  | — |  | 132 |  | 132 |  | 24 |  | 156
Trade receivables |  | — |  | 184 |  | 116 |  | 300 |  | — |  | 300
Other receivables |  | 128 |  | — |  | 438 |  | 566 |  | 4 |  | 570
​ |  | 128 |  | 184 |  | 686 |  | 998 |  | 28 |  | 1 026
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 12-month |  |
​ | ​ | Lifetime ECL | ​ | ECL | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | No | ​ | ​
​ | ​ | Significant | ​ | ​ | ​ | ​ | ​ | ​ | ​ | significant | ​ | ​
​ | ​ | increase in | ​ | Simplified | ​ | ​ | ​ | ​ | ​ | increase in | ​ | ​
​ | ​ | credit risk | ​ | approach | ​ | ​ | ​ | ​ | ​ | credit risk | ​ | Total
​ | ​ | since initial | ​ | for trade | ​ | Credit- | ​ | Total lifetime | ​ | since initial | ​ | expected
​ | ​ | recognition | ​ | receivables | ​ | impaired | ​ | ECL | ​ | recognition | ​ | credit loss
​ |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm
2023 |  |  |  |  |  |  |  |  |  |  |  |
Long-term receivables |  | — |  | — |  | 49 |  | 49 |  | 62 |  | 111
Trade receivables |  | — |  | 34 |  | 227 |  | 261 |  | — |  | 261
Other receivables |  | 102 |  | — |  | 385 |  | 487 |  | 4 |  | 491
​ |  | 102 |  | 34 |  | 661 |  | 797 |  | 66 |  | 863
Schedule of credit risk profile of financial assets at amortised cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
​ | ​ | Low risk | ​ | Medium risk | ​ | High risk | ​ | Low risk | ​ | Medium risk | ​ | High risk
​ | ​ | ​ | ​ | ​ | ​ | CCC+ and | ​ | ​ | ​ | ​ | ​ | CCC+ and
​ | ​ | AAA to A- | ​ | BBB+ to B- | ​ | below | ​ | AAA to A- | ​ | BBB+ to B- | ​ | below
​ |  | % |  | % |  | % |  | % |  | % |  | %
Long-term receivables |  | 19 | ​ | 77 | ​ | 4 |  | 29 | ​ | 59 | ​ | 12
Trade receivables |  | 81 | ​ | 15 | ​ | 4 |  | 77 | ​ | 18 | ​ | 5
Other receivables | ​ | 50 | ​ | 34 | ​ | 15 | ​ | 82 | ​ | 15 | ​ | 3
Cash and cash equivalents* |  | 17 | ​ | 81 | ​ | 2 |  | 20 | ​ | 78 | ​ | 2
| * | Includes long-term restricted cash.
Maturity profile of the undiscounted cash flows of derivative and non-derivative financial instruments | The maturity profile of the undiscounted contractual cash flows of financial instruments at 30 June were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Carrying |  | Contractual |  | Within one | ​ | One to | ​ | Three to |  | More than
​ | ​ | ​ | ​ | amount | ​ | cash flows* | ​ | year | ​ | three years | ​ | five years | ​ | five years
​ | ​ | Note | ​ | Rm | ​ | Rm | ​ | Rm |  | Rm | ​ | Rm | ​ | Rm
2024 |  |  |  |  |  |  |  |  | ​ |  | ​ | ​ |  |
Financial assets |  |  |  |  |  |  |  |  | ​ |  | ​ | ​ |  |
Non-derivative instruments |  |  |  |  |  |  |  |  | ​ |  | ​ | ​ |  |
Long-term receivables |  | 17 |  | 3 051 |  | 3 283 |  | 90 | ​ | 1 630 | ​ | 588 |  | 975
Trade and other receivables |  | 22 |  | 31 272 |  | 31 272 |  | 31 272 | ​ | — | ​ | — |  | —
Cash and cash equivalents |  | 25 |  | 45 383 |  | 45 383 |  | 45 383 | ​ | — | ​ | — |  | —
Investments through other comprehensive income |  |  |  | 9 |  | 9 |  | 9 | ​ | — | ​ | — |  | —
Long-term and short-term investments through profit or loss | ​ | ​ | ​ | 2 987 | ​ | 2 987 | ​ | 2 987 | ​ | — | ​ | — | ​ | —
Long-term restricted cash |  |  |  | 1 709 |  | 1 709 |  | — | ​ | — | ​ | — |  | 1 709
​ | ​ | ​ |  | 84 411 |  | 84 643 |  | 79 741 | ​ | 1 630 | ​ | 588 |  | 2 684
Derivative instruments |  |  |  | ​ |  |  |  | ​ | ​ |  | ​ | ​ |  |
Forward exchange contracts |  |  |  | 711 | ​ | 22 090 | ​ | 22 090 | ​ | — | ​ | — |  | —
Crude oil put options |  |  |  | 279 | ​ | 279 | ​ | 279 | ​ | — | ​ | — |  | —
Foreign exchange zero cost collars | ​ | ​ | ​ | 302 | ​ | 302 | ​ | 302 | ​ | — | ​ | — | ​ | —
Other commodity derivatives |  |  |  | 5 | ​ | 5 | ​ | 5 | ​ | — | ​ | — |  | —
Oxygen supply contract embedded derivative | ​ | ​ | ​ | 508 | ​ | 822 | ​ | 69 | ​ | 138 | ​ | 138 | ​ | 477
​ | ​ | ​ |  | 86 216 |  | 108 141 |  | 102 486 | ​ | 1 768 | ​ | 726 |  | 3 161
Financial liabilities |  |  |  |  |  |  |  |  | ​ |  | ​ | ​ |  |
Non-derivative instruments |  |  |  |  |  |  |  |  | ​ |  | ​ | ​ |  |
Long-term debt** |  | 13 |  | (117 031) |  | (153 995) |  | (7 805) | ​ | (28 914) | ​ | (99 312) |  | (17 964)
Lease liabilities |  | 14 |  | (17 437) |  | (37 769) |  | (3 718) | ​ | (5 595) | ​ | (4 289) |  | (24 167)
Short-term debt |  | 15 |  | (566) |  | (566) |  | (566) | ​ | — | ​ | — |  | —
Trade and other payables |  | 23 |  | (32 551) |  | (32 551) |  | (32 551) | ​ | — | ​ | — |  | —
Bank overdraft |  | 25 |  | (121) |  | (121) |  | (121) | ​ | — | ​ | — |  | —
​ | ​ | ​ |  | (167 706) |  | (225 002) |  | (44 761) | ​ | (34 509) | ​ | (103 601) |  | (42 131)
Derivative instruments |  |  |  |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  |
Forward exchange contracts |  |  |  | (11) |  | (21 390) |  | (21 390) | ​ | — | ​ | — |  | —
Other commodity derivatives | ​ | ​ | ​ | (7) | ​ | (7) | ​ | (7) | ​ | — | ​ | — | ​ | —
Oxygen supply contract embedded derivative |  |  |  | (542) |  | (3 654) |  | (34) | ​ | (35) | ​ | 14 |  | (3 599)
​ | ​ | ​ |  | (168 266) |  | (250 053) |  | (66 192) | ​ | (34 544) | ​ | (103 587) |  | (45 730)
| * | Contractual cash flows include interest payments.
​
| ** | The repayment of the notional amount of the convertible bonds is included in the one to three years category, in line with the contractual maturity date, based on obtaining the requisite shareholder approval for the convertible bonds to be settled in Sasol ordinary shares.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Carrying |  | Contractual |  | Within one | ​ | One to |  | Three to | ​ | More than
​ | ​ | ​ | ​ | amount | ​ | cash flows* | ​ | year | ​ | three years | ​ | five years | ​ | five years
​ | ​ | Note | ​ | Rm | ​ | Rm | ​ | Rm |  | Rm | ​ | Rm | ​ | Rm
2023 |  |  |  |  |  |  |  |  | ​ | ​ |  | ​ | ​ |
Financial assets |  |  |  |  |  |  |  |  | ​ | ​ |  | ​ | ​ |
Non-derivative instruments |  |  |  |  |  |  |  |  | ​ | ​ |  | ​ | ​ |
Long-term receivables |  | 17 |  | 2 803 |  | 3 105 |  | — | ​ | 1 119 |  | 273 | ​ | 1 713
Trade and other receivables |  | 22 |  | 30 915 |  | 30 915 |  | 30 915 | ​ | — |  | — | ​ | —
Cash and cash equivalents |  | 25 |  | 53 926 |  | 53 926 |  | 53 926 | ​ | — |  | — | ​ | —
Investments through other comprehensive income |  |  |  | 713 |  | 713 |  | 713 | ​ | — |  | — | ​ | —
Investments through profit or loss |  |  |  | 1 237 |  | 1 237 |  | 1 237 | ​ | — |  | — | ​ | —
Long-term restricted cash |  |  |  | 1 447 |  | 1 447 |  | — | ​ | — |  | — | ​ | 1 447
​ | ​ | ​ |  | 91 041 |  | 91 343 |  | 86 791 | ​ | 1 119 |  | 273 | ​ | 3 160
Derivative instruments |  |  |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​ | ​ |
Forward exchange contracts |  |  |  | 133 |  | 17 866 |  | 17 866 | ​ | — |  | — | ​ | —
Crude oil put options |  |  |  | 253 |  | 253 |  | 253 | ​ | — |  | — | ​ | —
Foreign exchange zero cost collars |  |  |  | 76 | ​ | 76 |  | 76 | ​ | — |  | — | ​ | —
Other commodity derivatives |  |  |  | 10 |  | 10 |  | 10 | ​ | — |  | — | ​ | —
Oxygen supply contract embedded derivative | ​ | ​ | ​ | 516 | ​ | 891 | ​ | 69 | ​ | 138 | ​ | 138 | ​ | 546
​ | ​ | ​ |  | 92 029 |  | 110 439 |  | 105 065 | ​ | 1 257 |  | 411 | ​ | 3 706
Financial liabilities |  |  |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​ | ​ |
Non-derivative instruments |  |  |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​ | ​ |
Long-term debt** |  | 13 |  | (124 068) |  | (152 653) |  | (44 932) | ​ | (11 970) |  | (41 366) | ​ | (54 385)
Lease liabilities |  | 14 |  | (16 297) |  | (34 111) |  | (3 261) | ​ | (5 364) |  | (3 559) | ​ | (21 927)
Short-term debt |  | 15 |  | (79) |  | (79) |  | (79) | ​ | — |  | — | ​ | —
Trade and other payables |  | 23 |  | (35 118) |  | (35 118) |  | (35 118) | ​ | — |  | — | ​ | —
Bank overdraft |  | 25 |  | (159) |  | (159) |  | (159) | ​ | — |  | — | ​ | —
​ | ​ | ​ |  | (175 721) |  | (222 120) |  | (83 549) | ​ | (17 334) |  | (44 925) | ​ | (76 312)
Derivative instruments |  |  |  |  |  |  |  |  | ​ | ​ |  | ​ | ​ |
Forward exchange contracts |  |  |  | (353) |  | (18 086) |  | (18 086) | ​ | — |  | — | ​ | —
Foreign exchange zero cost collars | ​ | ​ | ​ | (579) | ​ | (579) | ​ | (579) | ​ | — | ​ | — | ​ | —
Crude oil futures | ​ | ​ | ​ | (12) | ​ | (12) | ​ | (12) | ​ | — | ​ | — | ​ | —
Ethane swap options |  |  |  | (158) |  | (158) |  | (158) | ​ | — |  | — | ​ | —
Oxygen supply contract embedded derivative |  |  |  | (993) |  | (3 606) |  | (64) | ​ | (109) |  | (101) | ​ | (3 332)
​ | ​ | ​ |  | (177 816) |  | (244 561) |  | (102 448) | ​ | (17 443) |  | (45 026) | ​ | (79 644)
| * | Contractual cash flows include interest payments.
| ** | The Long-term debt maturity analysis was revised to allocate the US$750 million convertible bond contractual cash flows to the earliest maturity period presented to reflect the counterparty call option which is exercisable at any time. Refer to note 1.1. An amount of R9,4 billion is included in the Contractual cash flows and within one year categories above. The prevailing conversion price at 1 July 2023, the date of the presumed conversion, was US$19,8595. Bondholders would realise a loss when exercising their conversion rights at this date given that the average share price traded significantly lower than the conversion price, and conversion at this date is therefore considered unlikely. Previously, the maturity analysis was presented on the basis that the convertible bond is repaid in accordance with its maturity date of November 2027. The amounts previously included in the maturity analysis relating to the convertible bond were as follows: R17,0 billion under Contractual cash flows, R0,6 billion under Within one year, R1,3 billion under One to three years and R15,1 billion under Three to five years.
Schedule of derivative transactions |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Financial | ​ | Financial | ​ | Financial | ​ | Financial | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | asset | ​ | liability | ​ | asset | ​ | liability | ​ | Income statement gain/(loss)
​ |  | 2024 |  | 2024 |  | 2023 |  | 2023 | ​ | 2024 | ​ | 2023 | ​ | 2022
​ |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm
Commodity and currency derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap options |  | — |  | — |  | — |  | — | ​ | — | ​ | — | ​ | 1 029
Crude oil put options | ​ | 279 | ​ | — | ​ | 253 | ​ | — | ​ | (953) | ​ | (507) | ​ | —
Crude oil zero cost collars | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 3 953 | ​ | (11 349)
Crude oil swap options | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (5 140)
Crude oil futures | ​ | — | ​ | — | ​ | — | ​ | (12) | ​ | (180) | ​ | 401 | ​ | (1 049)
Ethane swap options | ​ | — | ​ | — | ​ | — | ​ | (158) | ​ | (17) | ​ | (272) | ​ | 279
Coal swap options | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 1 099 | ​ | 691
Other commodity derivatives | ​ | 5 | ​ | (7) | ​ | 10 | ​ | — | ​ | (62) | ​ | 180 | ​ | (593)
Forward exchange contracts | ​ | 711 | ​ | (11) | ​ | 133 | ​ | (353) | ​ | 1 091 | ​ | (1 339) | ​ | (677)
Foreign exchange zero cost collars |  | 302 |  | — |  | 76 |  | (579) | ​ | 810 | ​ | (301) | ​ | (1 580)
Embedded derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Convertible bond embedded derivative | ​ | — | ​ | (59) | ​ | — | ​ | (1 302) | ​ | 1 233 | ​ | 867 | ​ | —
Oxygen supply contract embedded derivatives* | ​ | 508 | ​ | (542) | ​ | 516 | ​ | (993) | ​ | 442 | ​ | (794) | ​ | 64
Non-derivative financial instruments |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments at fair value through profit or loss** | ​ | 2 173 | ​ | — | ​ | 1 237 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | 3 978 | ​ | (619) | ​ | 2 225 | ​ | (3 397) | ​ | 2 364 | ​ | 3 287 | ​ | (18 325)
| * | Relates to a US dollar derivative that is embedded in long-term oxygen supply contracts to our SO.
​
| ** | Fair value gains and losses are presented in other operating income and expenses, separately from derivative gains and losses.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Contract/Notional amount* | ​ | ​ | ​ | Average price
​ | ​ | ​ | ​ | Open | ​ | Settled | ​ | Open | ​ | Settled | ​ | ​ | ​ | Open | ​ | Open
​ |  | ​ | ​ | 2024 | ​ | 2024 | ​ | 2023 | ​ | 2023 | ​ | ​ | ​ | 2024 | ​ | 2023
​ | ​ | ​ |  | Million |  | Million |  | Million |  | Million |  | ​ |  | ​ |  | ​
Fair value hedges | ​ | ​ | ​ |  | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Crude oil put options purchased** | ​ | barrels | ​ | 16,8 | ​ | 18,0 | ​ | 16,3 | ​ | — | ​ | US$/bbl | ​ | 58,7 | ​ | 49,4
Crude oil zero cost collars | ​ | barrels |  | — |  | — | ​ | — |  | 29,0 | ​ | US$/bbl | ​ | — | ​ | —
Crude oil futures | ​ | US$ |  | — |  | 2 | ​ | 2 |  | 21 | ​ | US$/bbl | ​ | — | ​ | 75,0
Ethane swap options | ​ | barrels |  | — |  | 3,6 | ​ | 3,6 |  | 1,3 | ​ | US$ c/gal | ​ | — | ​ | 30,1
Coal swaps | ​ | ton | ​ | — | ​ | — | ​ | — | ​ | 0,9 | ​ | US$/ton | ​ | — | ​ | —
Forward exchange contracts | ​ | US$ |  | 1 080 |  | — | ​ | 836 |  | — | ​ | R/US$ | ​ | 18,90 | ​ | 18,61
Forward exchange contracts | ​ | EUR | ​ | 43 | ​ | — | ​ | 30 | ​ | — | ​ | US$/EUR | ​ | 1,08 | ​ | 1,10
Foreign exchange zero cost collars | ​ | US$ |  | 1 530 |  | — | ​ | 2 760 |  | 4 400 | ​ | R/US$ Floor | ​ | 17,53 | ​ | 16,72
​ | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | R/US$ Cap | ​ | 22,65 | ​ | 20,70
| * | The notional amount is the sum of the absolute value of all contracts for both derivative assets and liabilities.
| ** | Total premium paid for contracts entered into in the year US$94,8 million (2023: US$42,0 million).
Oxygen supply contract embedded derivative assets and liabilities |
Financial risk management and financial instruments |
Summary of reconciliation of opening and closing balance of embedded derivative | ​
​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
for the year ended 30 June | ​ | Rm | ​ | Rm
Balance at the beginning of the year |  | (477) |  | 339
Amounts settled during the year | ​ | 1 | ​ | (22)
Unrealised fair value loss recognised in other operating expenses and income | ​ | 442 | ​ | (794)
Balance at the end of the year |  | (34) |  | (477)
Summary of sensitivities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Increase/(decrease) in profit or
​ | ​ | ​ | ​ | ​ | ​ | loss and equity
​ | ​ | Inputs | ​ | Change | ​ | 2024 | ​ | 2023
Input |  | applied |  | in input |  | Rm |  | Rm
Rand/US$ Spot price | ​ | R18,19/US$ | ​ | +R1/US$ | ​ | (478) | ​ | (478)
​ |  | (2023: R18,76/US$) | ​ | -R1/US$ |  | 478 |  | 478
US$ Swap curve |  | 3,63% - 5,06% | ​ | +10bps | ​ | 81 |  | 87
​ |  | (2023: 3,30% – 5,60%) | ​ | -10bps | ​ | (82) |  | (89)
Rand Swap curve |  | 7,76% - 10,35% | ​ | +100bps | ​ | (688) |  | (734)
​ |  | (2023: 8,36% – 10,41%) | ​ | -100bps | ​ | 784 |  | 848
Convertible bond embedded derivative liability |
Financial risk management and financial instruments |
Summary of reconciliation of opening and closing balance of embedded derivative | ​
​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
for the year ended 30 June | ​ | Rm | ​ | Rm
Balance at the beginning of the year |  | 1 302 |  | —
Recognition of embedded derivative upon issue of bond |  | — |  | 2 089
Unrealised fair value loss recognised in other operating expenses and income |  | (1 233) |  | (867)
Translation of foreign operations |  | (10) |  | 80
Balance at the end of the year |  | 59 |  | 1 302
Summary of sensitivities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Increase/(decrease) in profit or
​ | ​ | ​ | ​ | ​ | ​ | loss and equity
​ | ​ | Inputs | ​ | Change | ​ | 2024 | ​ | 2023
Input |  | applied |  | in input |  | Rm |  | Rm
Credit spread |  | 372bps | ​ | +100bps | ​ | (364) |  | (433)
​ |  | (2023: 460bps) | ​ | -100bps* | ​ | 59 |  | 455
Calibrated volatility | ​ | 21,39% | ​ | +5 | % | (81) | ​ | (377)
​ | ​ | (2023: 27,84%) | ​ | -5 | % | 45 | ​ | 364
Exchange rate |
Financial risk management and financial instruments |
Summary of sensitivities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​ | 2023
​ | ​ | Euro | ​ | US dollar | ​ | Euro | ​ | US dollar
​ |  | Rm |  | Rm |  | Rm |  | Rm
Equity |  | 171 |  | 2 740 |  | 75 |  | 1 209
Income statement |  | 171 |  | 2 740 |  | 75 |  | 1 209
Schedule of foreign exchange rates | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Average rate | ​ | Closing rate
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
​ | ​ | Rand | ​ | Rand | ​ | Rand | ​ | Rand
Rand/Euro |  | 20,24 |  | 18,62 |  | 19,49 |  | 20,55
Rand/US$ |  | 18,71 |  | 17,77 |  | 18,19 |  | 18,83
Schedules of information related to foreign currency risk and commodity price risk | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​ | 2023
​ |  | Euro |  | US dollar |  | Euro |  | US dollar
​ |  | Rm | ​ | Rm |  | Rm | ​ | Rm
Long-term receivables |  | 67 |  | 745 |  | — |  | 339
Trade and other receivables |  | 564 |  | 2 595 |  | 544 |  | 3 520
Cash and cash equivalents |  | 3 319 |  | 1 241 |  | 2 835 |  | 1 872
Net exposure on assets |  | 3 950 |  | 4 581 |  | 3 379 |  | 5 731
Trade and other payables |  | (227) |  | (2 949) |  | (302) |  | (2 129)
Net exposure on liabilities |  | (227) |  | (2 949) |  | (302) |  | (2 129)
Exposure on external balances |  | 3 723 |  | 1 632 |  | 3 077 |  | 3 602
Net exposure on balances between Group companies1 |  | (2 014) |  | 25 769 |  | (2 323) |  | 8 484
Total net exposure |  | 1 709 |  | 27 401 |  | 754 |  | 12 086
| 1 | The US$ exposure relates to cash deposits made by Sasol Financing Limited to Sasol Financing International Limited.
Interest rate risk |
Financial risk management and financial instruments |
Summary of sensitivities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Income statement — 1% increase
​ |  | ​ |  | ​ |  | United States |  | ​
​ | ​ | South Africa | ​ | Europe | ​ | of America | ​ | Other
​ |  | Rm |  | Rm |  | Rm |  | Rm
30 June 2024 |  | 250 |  | 32 |  | (328) |  | 21
30 June 2023 |  | 300 |  | 28 |  | (63) |  | 26
​
Summary of interest rate profile of interest-bearing financial instruments including the effect of the interest rate swap | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Carrying value
​ | ​ | 2024 | ​ | 2023
​ |  | Rm |  | Rm
Variable rate instruments |  |  |  |
Financial assets |  | 42 053 |  | 50 123
Financial liabilities1 |  | (44 471) |  | (20 911)
​ |  | (2 418) |  | 29 212
Fixed rate instruments |  | ​ |  | ​
Financial assets |  | 7 046 |  | 7 005
Financial liabilities2 |  | (72 680) |  | (103 317)
​ |  | (65 634) |  | (96 312)
Interest profile (variable: fixed rate as a percentage of total financial assets) |  | 86:14 |  | 88:12
Interest profile (variable: fixed rate as a percentage of total financial liabilities) |  | 38:62 |  | 17:83
| 1 | The increase in variable exposure is mainly due to the draw down on the RCF. Refer to note 13.
| 2 | The decrease in fixed exposure is mainly due to the repayment of a US$1,5 billion fixed-rate bond during the period.
Commodity price risk - crude oil |
Financial risk management and financial instruments |
Schedules of information related to foreign currency risk and commodity price risk | ​
​ | ​ | ​ | ​ | ​
​ |  | Dated Brent Crude
​ | ​ | 2024 | ​ | 2023
​ | ​ | US$ | ​ | US$
High | ​ | 97,92 | ​ | 124,79
Average |  | 84,74 |  | 87,34
Low |  | 73,56 |  | 71,70

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