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Equity accounted investments (Tables) | 12 Months Ended
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Jun. 30, 2024
Equity accounted investments |
Schedule of interest in equity accounted investments and total carrying values | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Country of |  |  |  | Interest |  | 2024 |  | 2023
Name | ​ | incorporation | ​ | Nature of activities | ​ | % | ​ | Rm | ​ | Rm
Joint ventures | ​ |  | ​ |  | ​ |  | ​ |  | ​ |
ORYX GTL Limited |  | Qatar |  | GTL plant |  | 49 |  | 10 379 |  | 10 693
Sasol Dyno Nobel (Pty) Ltd |  | South Africa |  | Manufacturing and distribution of explosives |  | 50 |  | 321 |  | 304
Associates |  | ​ |  |  |  | ​ |  | ​ |  | ​
Enaex Africa (Pty) Ltd |  | South Africa |  | Manufacturing and distribution of explosives |  | 23 |  | 483 |  | 402
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 | ​ | 2 823
Other equity accounted investments |  | ​ |  | ​ |  | Various |  | 736 |  | 582
Carrying value of investments |  |  |  |  |  |  |  | 14 742 |  | 14 804
​
Summarised financial information for the Group's share of equity accounted investments which are not material | ​
​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
for the year ended 30 June | ​ | Rm | ​ | Rm
Summarised financial information for the Group’s share of equity accounted investments which are not material* | ​ | ​ | ​ | ​
Operating profit |  | 181 |  | 218
Profit before tax |  | 211 |  | 250
Taxation |  | (64) |  | (72)
Profit for the year* |  | 147 |  | 178
| * | 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 | ​
​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
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 |  | 3 579 |  | 1 357
Authorised but not yet contracted for |  | 852 |  | 972
Less: expenditure to the end of year |  | (2 963) |  | (981)
​ |  | 1 468 |  | 1 348
Summarised financial information for the Group's material joint ventures | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Joint venture |
​ |  | ORYX GTL Limited |
​ |  | 2024 |  | 2023 |
for the year ended 30 June |  | Rm |  | Rm |
Summarised statement of financial position | ​ |  | ​ | ​ | ​ |
Non-current assets | ​ | ​ | 14 985 | ​ | 14 621 | ​
Deferred tax asset | ​ | ​ | 1 218 | ​ | 423 | ​
Cash and cash equivalents | ​ | ​ | 1 147 | ​ | 2 897 | ​
Other current assets | ​ | ​ | 6 416 | ​ | 7 905 | ​
Total assets | ​ | ​ | 23 766 | ​ | 25 846 | ​
Non-current liabilities | ​ | ​ | 778 | ​ | 751 | ​
Current liabilities | ​ | ​ | 1 807 | ​ | 1 629 | ​
Tax payable | ​ | ​ | — | ​ | 1 642 | ​
Total liabilities | ​ | ​ | 2 585 | ​ | 4 022 | ​
Net assets | ​ | ​ | 21 181 | ​ | 21 824 | ​
Summarised income statement | ​ | ​ | ​ | ​ | ​ | ​
Turnover | ​ | ​ | 10 871 | ​ | 13 761 | ​
Depreciation and amortisation | ​ | ​ | (2 106) | ​ | (2 148) | ​
Other operating expenses | ​ | ​ | (5 263) | ​ | (5 434) | ​
Operating profit before interest and tax | ​ | ​ | 3 502 | ​ | 6 179 | ​
Finance income | ​ | ​ | 178 | ​ | 154 | ​
Finance cost | ​ | ​ | (46) | ​ | (43) | ​
Profit before tax | ​ | ​ | 3 634 | ​ | 6 290 | ​
Taxation | ​ | ​ | (1 286) | ​ | (2 193) | ​
Profit and total comprehensive income for the year | ​ | ​ | 2 348 | ​ | 4 097 | ​
The Group’s share of profits of equity accounted investment | ​ | ​ | 1 151 | ​ | 2 007 | ​
49% share of profit before tax | ​ | ​ | 1 781 | ​ | 3 082 | ​
Taxation | ​ | ​ | (630) | ​ | (1 075) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of summarised financial information | ​ | ​ |  | ​ |  | ​
Net assets at the beginning of the year | ​ | ​ | 21 824 | ​ | 18 204 | ​
Earnings before tax for the year | ​ | ​ | 3 634 | ​ | 6 290 | ​
Taxation | ​ | ​ | (1 286) | ​ | (2 193) | ​
Foreign exchange differences | ​ | ​ | (767) | ​ | 2 934 | ​
Dividends paid1 | ​ | ​ | (2 224) | ​ | (3 411) | ​
Net assets at the end of the year | ​ | ​ | 21 181 | ​ | 21 824 | ​
Carrying value of equity accounted investment | ​ | ​ | 10 379 | ​ | 10 693 | ​
| 1 | In 2024 ORYX GTL Limited declared a dividend of R2,2 billion which was received by 30 June 2024.
Summarised financial information for the Group's material associates | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Associate
​ | ​ | The Republic of
​ | ​ | Mozambique Pipeline
​ | ​ | Investment Company
​ | ​ | (Pty) Ltd (ROMPCO)
​ | ​ | 2024 | ​ | 2023
for the year ended 30 June |  | Rm |  | Rm
Summarised statement of financial position |  |  |  |
Non-current assets |  | 4 570 |  | 4 334
Cash and cash equivalents |  | 1 051 |  | 1 070
Other current assets |  | 721 |  | 613
Total assets |  | 6 342 |  | 6 017
Non-current liabilities |  | 659 |  | 736
Current liabilities |  | 162 |  | 116
Tax payable |  | 501 |  | 493
Total liabilities |  | 1 322 |  | 1 345
Net assets |  | 5 020 |  | 4 672
Summarised income statement |  | ​ | ​ | ​
Turnover |  | 4 800 |  | 4 270
Depreciation and amortisation | ​ | (622) | ​ | (563)
Other operating expenses | ​ | (437) | ​ | (266)
Operating profit before interest and tax | ​ | 3 741 | ​ | 3 441
Finance income | ​ | 169 | ​ | 85
Finance cost | ​ | (15) | ​ | (10)
Profit before tax | ​ | 3 895 | ​ | 3 516
Taxation | ​ | (1 247) | ​ | (1 330)
Earnings and total comprehensive income for the period | ​ | 2 648 | ​ | 2 186
The Group’s share of profits of equity accounted investment | ​ | ​ | ​ | ​
20% share of profit before tax | ​ | 779 | ​ | 703
Taxation | ​ | (249) | ​ | (266)
​ | ​ | 530 | ​ | 437
Amortisation of fair value adjustment on acquisition of investment | ​ | (70) | ​ | —
Share of profits of equity accounted investment | ​ | 460 | ​ | 437
Reconciliation of summarised financial information | ​ | ​ | ​ | ​
Net assets at the beginning of the year | ​ | 4 672 | ​ | 4 322
Earnings before tax for the year | ​ | 3 895 | ​ | 3 516
Taxation | ​ | (1 247) | ​ | (1 330)
Other movements | ​ | — | ​ | 140
Dividends paid | ​ | (2 300) | ​ | (1 976)
Net assets at the end of the year | ​ | 5 020 | ​ | 4 672
Carrying value of equity accounted investment | ​ | 2 823 | ​ | 2 823
Historical net asset value | ​ | 1 004 | ​ | 934
Group's share of fair value adjustment on acquisition of investment | ​ | 1 819 | ​ | 1 889
​
Schedule of material related party transactions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
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 |  | 2 577 |  | 3 667 |  | 2 737
Total purchases by subsidiaries from joint ventures and associates* |  | 4 350 |  | 3 448 |  | 157
*Includes purchases from ROMPCO which is accounted for as an associate from 29 June 2022.

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