Sasol Limited · JSE:SOL
Sasol — FY2011 Earnings Presentation
138 slides from Sasol's earnings presentation, September 2011
Slide 1: Analyst Book forward-looking statements
sasol limited forward-looking statements Sasol may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to o
Slide 2: Table of contents
SASOL LIMITED GROUP ANALYST BOOK Preliminary financial results for the year ended 30 June 2011 TABLE OF CONTENTS Page TABLE OF CONTENTS (continued) Page Introduction 1 Note 28 Other payables 72 Principal economic indicators 2-3 Note 29 Turnover 73-75 Financial highlights 4 Note 30 Other operating in
Slide 3: Introduction and basis of preparation
1 SASOL LIMITED GROUP ANALYST BOOK Preliminary financial results for the year ended 30 June 2011 Sasol is pleased to provide this Analyst Book as a resource for analysts, shareholders and others seeking detailed financial and operating information about the Sasol group. This book includes key extrac
Slide 4: Principal economic indicators
2 SASOL LIMITED GROUP PRINCIPAL ECONOMIC INDICATORS for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 Economic indicators Rand/US$ exchange rate - closing US$ 1 = R 6,77 7,67 7,73 7,83 7,04 7,17 6,67 6,21 7,50 - average US$ 1 = R 7,01 7,59 9,04 7,30 7,20 6,41 6,21 6,88 9,03 Ran
Slide 5: Principal economic indicators: crude oil prices
3 SASOL LIMITED GROUP PRINCIPAL ECONOMIC INDICATORS for the year ended 30 June 2011 Crude oil prices Market prices for crude oil fluctuate because they are subject to international supply, demand and political factors. Worldwide supply and price levels of crude oil are also influenced by internation
Slide 6: Financial highlights
SASOL LIMITED FINANCIAL HIGHLIGHTS 4 for the year ended 30 June % change 2010 2011 2011 2010 2009 2008 2007 2006 2005 2004 2003 US$ US$ 2011 vs. 2010 Rand Rand Rand Rand Rand Rand Rand Rand Rand 16 108 20 318 Turnover million 17% 142 436 122 256 137 836 129 943 98 127 82 395 69 239 60 151 64 555 4 0
Slide 7: Financial review
SASOL LIMITED GROUP 5 FINANCIAL REVIEW for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Statement of financial position Property, plant and equipment 79 245 72 523 70 370 66 273 50 611 39 929 39 618 38 003 30 574 30 594 Assets under construct
Slide 8: Shareholders' information
SASOL LIMITED GROUP 6 SHAREHOLDERS' INFORMATION for the year ended 30 June Shareholders' diary Financial year end 30 June 2011 Annual general meeting 25 November 2011 Dividends Dividends Interim dividend - SA Rand per ordinary share (excludes Sasol preferred ordinary shares) 3,10 Interim dividend -
Slide 9: Share ownership
7 SASOL LIMITED GROUP SHARE OWNERSHIP Share ownership at 30 June 2011 Number of % of % of ordinary Public and non-public shareholding of listed Sasol ordinary shares shareholders shareholders Number of shares shares Public 69 968 99,9 595 481 915 92,7 Non-public 53 0,1 47 108 601 7,3 - Directors and
Slide 10: Value added statement
SASOL LIMITED GROUP 8 VALUE ADDED STATEMENT for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 Rm Rm Rm Rm Rm Rm Rm Turnover 142 436 122 256 137 836 129 943 98 127 82 395 69 239 Less purchased materials and services 86 330 74 061 89 393 76 472 56 789 51 356 41 989 Value added 56 106 48 19
Slide 11: Key performance indicators
SASOL LIMITED GROUP 9 KEY PERFORMANCE INDICATORS for the year ended 30 June Summary of statistics 2011 2010 2009 2008 2007 2006 1 2005 2004 2003 2002 Shareholders' returns Attributable earnings per share Rand 32,97 26,68 22,90 37,30 27,35 16,78 15,39 9,50 12,59 15,84 Headline earnings per share Rand
Slide 12: Group segment summary 2011
SASOL LIMITED GROUP 10 GROUP SEGMENT SUMMARY for the year ended 30 June 2011 Other SA Internatn'l Other SA energy Mining Gas Synfuels Oil Energy energy SSI SPI Chemicals Polymers Solvents O&S Wax Nitro Chemical Other² Total operations Business segmentation - June 2011 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm R
Slide 13: Group segment summary 2010
SASOL LIMITED GROUP 11 GROUP SEGMENT SUMMARY for the year ended 30 June 2010 Other SA Other SA energy Mining Gas Synfuels Oil Energy Internatn'l energy SSI SPI Chemicals Polymers Solvents O&S Wax Nitro Chemical Other² Total operations Business segmentation - June 2010 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm R
Slide 14: Group segment summary 2009
SASOL LIMITED GROUP 12 GROUP SEGMENT SUMMARY for the year ended 30 June 2009 Other SA Other SA energy Mining Gas Synfuels Oil Energy Internatn'l energy SSI SPI Chemicals Polymers Solvents O&S Wax Nitro Chemical Other² Total operations Business segmentation - June 2009 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm R
Slide 15: Preliminary statements of financial position
SASOL LIMITED GROUP 13 PRELIMINARY STATEMENTS OF FINANCIAL POSITION at 30 June Audited 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm ASSETS Property, plant and equipment 1 79 245 72 523 70 370 66 273 50 611 39 929 39 618 38 003 30 574 30 594 Assets under constr
Slide 16: Statements of financial position (US dollar)
SASOL LIMITED GROUP 14 PRELIMINARY STATEMENTS OF FINANCIAL POSITION (US dollar convenience translation) at 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 US$ m US$ m US$ m US$ m US$ m US$ m US$ m US$ m US$ m US$ m ASSETS Property, plant and equipment 11 705 9 455 9 104 8 464 7 189 5 569 5
Slide 17: Preliminary income statements
SASOL LIMITED GROUP 15 PRELIMINARY INCOME STATEMENTS for the year ended 30 June Audited 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Turnover 29 142 436 122 256 137 836 129 943 98 127 82 395 69 239 60 151 64 555 59 590 Cost of sales and services rendered (90 4
Slide 18: Income statements (US dollar)
SASOL LIMITED GROUP 16 PRELIMINARY INCOME STATEMENTS (US dollar convenience translation) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 US$ m US$ m US$ m US$ m US$ m US$ m US$ m US$ m US$ m Turnover 20 318 16 108 15 247 17 800 13 629 12 854 11 150 8 747 7 149 Cost of sales a
Slide 19: Statements of comprehensive income
SASOL LIMITED GROUP 17 PRELIMINARY STATEMENTS OF COMPREHENSIVE INCOME for the year ended 30 June Audited 2011 2010 2009 2008 2007 2006 2005 2004 2003 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Profit for year 20 220 16 387 13 715 23 528 17 550 10 582 9 559 5 861 7 762 Other comprehensive income, net of tax Eff
Slide 20: Statements of changes in equity
SASOL LIMITED GROUP 18 PRELIMINARY STATEMENTS OF CHANGES IN EQUITY for the year ended 30 June Audited 2011 2010 2009 2008 2007 2006 2005 2004 2003 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Share capital 41 Balance at beginning of year 27 229 27 025 20 176 3 628 3 634 3 203 2 892 2 783 2 706 Shares issued on i
Slide 21: Statements of cash flows
SASOL LIMITED GROUP 19 PRELIMINARY STATEMENTS OF CASH FLOWS for the year ended 30 June Audited 2011 2010 2009 2008 2007 2006 2005 2004 2003 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Cash flow from operations 45 41 018 30 762 37 194 42 558 28 618 28 284 21 081 14 859 15 986 (Increase) / decrease in working cap
Slide 22: Statements of cash flows (US dollar)
SASOL LIMITED GROUP 20 PRELIMINARY STATEMENTS OF CASH FLOWS (US dollar convenience translation) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 US$ m US$ m US$ m US$ m US$ m US$ m US$ m US$ m US$ m Cash flow from operations 6 057 4 010 4 812 5 435 4 065 3 945 3 161 2 393 2 13
Slide 23: Note 1 Property, plant and equipment (cost)
SASOL LIMITED GROUP 21 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 Property, plant and equipment 2011 2010 2009 2008 2007 2006 2005 2004 2003 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Cost Balance at beginning of year 134 174 129 560 123 526 99 309 68 844 77 845 72
Slide 24: Property, plant and equipment: accumulated depreciation
SASOL LIMITED GROUP 22 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 (continued) Property, plant and equipment 2011 2010 2009 2008 2007 2006 2005 2004 2003 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Accumulated depreciation and impairment Balance at beginning of year 6
Slide 25: Property, plant and equipment: carrying value
SASOL LIMITED GROUP 23 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 (continued) 2011 2010 2009 2008 2007 Property, plant and equipment Rm Rm Rm Rm Rm Carrying value of property, plant and equipment South African Energy cluster 36 064 28 605 27 314 25 752 22
Slide 26: Property, plant and equipment: additions
SASOL LIMITED GROUP 24 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 (continued) Property, plant and equipment 2011 2010 2009 2008 2007 2006 Rm Rm Rm Rm Rm Rm Additions to property, plant and equipment (cash flow) To sustain existing operations 1 453 1 609 1
Slide 27: Property, plant and equipment: additions classification
SASOL LIMITED GROUP 25 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 (continued) Property, plant and equipment Additions to property, plant and equipment Additions to property, plant and equipment are, for financial disclosure purposes, grouped into two broa
Slide 28: Property, plant and equipment: capital commitments
SASOL LIMITED GROUP 26 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 (continued) Property, plant and equipment Capital commitments Capital commitments, excluding capitalised interest, include all projects for which specific board approval has been obtained u
Slide 29: Capital commitments by geography
SASOL LIMITED GROUP 27 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 (continued) Property, plant and equipment 2011 2010 2009 2008 2007 2006 2005 2004 Rm Rm Rm Rm Rm Rm Rm Rm Capital commitments (continued) Geographic information South Africa 39 483 42 285 2
Slide 30: Key projects approved not completed
SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS 28 for the year ended 30 June Audited Note 1 (continued) Amount Amount Estimated Sasol's effective Estimated end Business Unit approved by contracted to beneficial Key projects approved which were not completed at 30 June 2011 share (
Slide 31: Depreciation of property, plant and equipment
SASOL LIMITED GROUP 29 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 (continued) Property, plant and equipment 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Depreciation of property, plant and equipment Current year charge South Afr
Slide 32: Note 2 Assets under construction
SASOL LIMITED GROUP 30 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Assets under construction Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Cost Balance at beginning of year 21 018 14 496 11 693 24 611 23 176 18 088 9
Slide 33: Additions to assets under construction
SASOL LIMITED GROUP 31 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (continued) 2011 2010 2009 2008 2007 Additions to assets under construction (cash flow) Rm Rm Rm Rm Rm To sustain existing operations 8 641 7 849 5 684 3 825 3 933 current year additions 8
Slide 34: Capital expenditure projects
SASOL LIMITED GROUP 32 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (continued) Capital expenditure Significant projects to sustain operations: As part of the normal plant operations, the group incurs capital expenditure to replace or modify significant com
Slide 35: Note 3 Goodwill
SASOL LIMITED GROUP 33 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 3 Goodwill (and negative goodwill) 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Goodwill Cost Balance at beginning of year 1 659 1 877 2 102 1 524 1 36
Slide 36: Note 4 Other intangible assets
SASOL LIMITED GROUP 34 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 4 Other intangible assets Note 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Cost Balance at beginning of year 3 142 3 067 2 992 2 861 2 188 2 518 2 392 Acquisition
Slide 37: Other intangible assets: amortisation
SASOL LIMITED GROUP 35 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 4 (continued) Other intangible assets Note 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Accumulated amortisation and impairment Balance at beginning of year 1 949 1
Slide 38: Other intangible assets: carrying value
SASOL LIMITED GROUP 36 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 4 (continued) 2011 2010 2009 2008 2007 2006 Other intangible assets Rm Rm Rm Rm Rm Rm Estimated future aggregate amortisation Within one year 25,6% 252 248 195 167 172 1 to 2 years 17,7% 174
Slide 39: Other intangible assets: additions
SASOL LIMITED GROUP 37 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 4 (continued) Other intangible assets 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm sustain existing expand operations operations Total Additions to other intangible
Slide 40: Other intangible assets: capital commitments
SASOL LIMITED GROUP 38 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 4 (continued) Other intangible assets Capital commitments Capital commitments include all projects for which specific board approval has been obtained at the reporting date. Projects still un
Slide 41: Non-current assets disclosure: cost
SASOL LIMITED GROUP 39 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 5 2011 2010 2009 2008 2007 2006 2005 2004 2003 Non-current assets disclosure Rm Rm Rm Rm Rm Rm Rm Rm Rm Summary Non-current assets - Cost Property, plant and equipment 144 747 134 174 129 560
Slide 42: Non-current assets: carrying value
SASOL LIMITED GROUP 40 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 5 (continued) 2011 2010 2009 2008 2007 2006 2005 2004 2003 Non-current assets disclosure Rm Rm Rm Rm Rm Rm Rm Rm Rm Non-current assets - Carrying value Property, plant and equipment 79 245 72
Slide 43: Investments in securities
SASOL LIMITED GROUP 41 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 6 Note Investments in securities 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Investment available-for-sale Long-term investments 189 168 187 210 160 154 203 228 53
Slide 44: Investments in securities by segment
SASOL LIMITED GROUP 42 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 6 (continued) Investments in securities 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Business unit segmentation South African Energy cluster 446 418 389 349 312 240
Slide 45: Investments in associates
SASOL LIMITED GROUP 43 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 7 Investments in associates 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Comprising Investments at cost (net of impairment) 3 306 3 365 2 105 271 238 314 323 248 21
Slide 46: Post-retirement benefit assets
SASOL LIMITED GROUP 44 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 8 Post-retirement benefit assets 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Post-retirement benefit assets 792 789 716 571 363 80 303 242 451 Short-term portion -
Slide 47: Long-term receivables and prepaid expenses
SASOL LIMITED GROUP 45 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS ` for the year ended 30 June Audited Note 9 Long-term receivables and prepaid expenses 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Total long-term receivables 1 482 1 317 1 835 1 499 1 579 943 1 168 1 15
Slide 48: Disposal groups held for sale
SASOL LIMITED GROUP 46 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 11 Disposal groups held for sale 2011 2010 2009 2008 2007 2006 Rm Rm Rm Rm Rm Rm Assets held for sale Sasol Petroleum International exploration assets 31 - - - - - Sasol Nitro Fertiliser busi
Slide 49: Disposal groups held for sale (continued)
SASOL LIMITED GROUP 47 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 11 (continued) Disposal groups held for sale 11.5 Sasol Dyno Nobel (Pty) Ltd Following the acquisition in September 2006, of the remaining 40% of Sasol Dyno Nobel (Pty) Ltd in South Africa, S
Slide 50: Inventories
SASOL LIMITED GROUP 48 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 12 Inventories 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Comprising Crude oil and other raw materials 3 708 2 569 2 563 5 130 3 226 1 605 2 388 1 629 1 768 Proce
Slide 51: Inventory obsolescence
SASOL LIMITED GROUP 49 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 12 (continued) Inventories 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Inventory obsolescence (taken into account in the carrying value of inventory above) Balance
Slide 52: Trade receivables
SASOL LIMITED GROUP 50 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 13 Trade receivables 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Trade receivables* 18 785 15 228 12 443 18 864 12 076 7 598 8 891 7 765 7 869 Related party receiv
Slide 53: Trade receivables credit risk
SASOL LIMITED GROUP 51 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 13 (continued) Trade receivables 2011 2010 2009 2008 2007 Rm Rm Rm Rm Rm Credit risk exposure in respect of trade receivables is analysed as follows: Business segmentation South African Energ
Slide 54: Other receivables and prepaid expenses
SASOL LIMITED GROUP 52 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 14 Note Other receivables and prepaid expenses 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Fuel related receivables* - - - 550 38 112 - - - Insurance related recei
Slide 55: Cash and cash equivalents
SASOL LIMITED GROUP 53 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 16 Cash and cash equivalents 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Cash and cash equivalents Cash restricted for use 3 303 1 841 1 247 814 646 584 1 002 527
Slide 56: Long-term debt
SASOL LIMITED GROUP 54 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 17 Note Long-term debt 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Total long-term debt Secured debt 3 494 3 611 3 973 7 469 7 300 7 661 5 598 4 668 3 522 Preferen
Slide 57: Long-term debt by segment
SASOL LIMITED GROUP 55 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 17 (continued) Long-term debt 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Business segmentation South African Energy cluster 5 071 4 409 4 086 4 006 4 340
Slide 58: Long-term debt terms of repayment
SASOL LIMITED GROUP 56 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 17 (continued) In terms of Sasol Limited's memorandum of incorporation the group's borrowing powers are limited to twice the sum of its share capital and reserves (2011 - R215 billion; 2010 -
Slide 59: Unsecured long-term debt
SASOL LIMITED GROUP 57 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 17 (continued) Long-term debt as at 30 June 2010 Terms of repayment Business Interest rate at 30 June 2011 2011 2010 2009 2008 2007 2006 Rm Rm Rm Rm Rm Rm Unsecured debt Repayable in semi-ann
Slide 60: Banking facilities and debt arrangements
SASOL LIMITED GROUP 58 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 17 (continued) Banking facilities and debt arrangements at 30 June 2010 2011 2011 2010 2010 2009 2009 Rand equivalent Utilisation Rand equivalent Utilisation Rand equivalent Utilisation Expir
Slide 61: Long-term financial liabilities
SASOL LIMITED GROUP 59 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 18 Long-term financial liabilities 2011 2010 2009 2008 2007 Rm Rm Rm Rm Rm Financial guarantees recognised 32 35 37 53 56 Forward exchange contracts recognised 75 36 110 - - Interest rate der
Slide 62: Long-term provisions
SASOL LIMITED GROUP 60 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 19 Note Long-term provisions 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Balance at beginning of year 7 587 6 906 5 614 4 568 3 929 3 301 3 017 2 954 3 510 Capital
Slide 63: Long-term provisions by segment
SASOL LIMITED GROUP 61 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 19 (continued) Long-term provisions 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Business segmentation South African Energy cluster 5 254 4 524 3 299 2 235 2 112 2
Slide 64: Post-retirement benefit obligations
SASOL LIMITED GROUP 62 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 20 Post-retirement benefit obligations 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Post-retirement healthcare benefits 2 821 2 535 2 315 2 246 2 027 1 616 1 772 1
Slide 65: Post-retirement pension benefits
SASOL LIMITED GROUP 63 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 20 (continued) Post-retirement benefit obligations 2011 2010 2009 2008 2007 2006 2005 2004 Rm Rm Rm Rm Rm Rm Rm Rm Post-retirement pension benefits Reconciliation of funded status to amounts
Slide 66: Long-term deferred income
SASOL LIMITED GROUP 64 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 21 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Long-term deferred income Total deferred income 613 476 479 543 2 809 1 708 771 252 96 Short-term portion 26 (115) (
Slide 67: Deferred tax
SASOL LIMITED GROUP 65 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 22 Note Deferred tax 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Reconciliation Balance at beginning of year 9 307 7 984 6 993 7 459 5 465 5 966 5 546 5 919 5 977
Slide 68: Deferred tax: tax losses
66 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 22 (continued) Deferred tax Deferred tax assets have been recognised for the carry forward amount of unused tax losses relating to the group's operations where, among other things, taxation l
Slide 69: Short-term debt
SASOL LIMITED GROUP 67 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 23 Note Short-term debt 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Bank loans 75 411 443 1 944 288 1 188 2 405 4 138 995 Revolving credit - - - 358 2 107 535 663
Slide 70: Short-term debt interest bearing status
SASOL LIMITED GROUP 68 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 23 (continued) Interest bearing status Short-term debt bears interest at market related rates. The weighted average interest rate applicable to short-term debt for the year was approximately
Slide 71: Short-term provisions
SASOL LIMITED GROUP 69 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 25 Note Short-term provisions 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Employee provisions 144 160 173 130 42 850 920 741 414 Insurance related provisions 88 12
Slide 72: Short-term deferred income
SASOL LIMITED GROUP 70 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 26 Note Short-term deferred income 2011 2010 2009 2008 2007 2006 2005 2004 Rm Rm Rm Rm Rm Rm Rm Rm Short-term portion of long-term deferred income 21 115 203 182 167 44 10 8 15 Short-term def
Slide 73: Trade payables and accrued expenses
SASOL LIMITED GROUP 71 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 27 Trade payables and accrued expenses 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Trade payables* 11 787 9 311 8 878 11 172 5 946 3 555 4 733 3 886 4 060 Accrued
Slide 74: Other payables
SASOL LIMITED GROUP 72 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 28 Note Other payables 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Capital projects related payables - - - - 935 594 805 777 612 Employee related payables 3 162 2
Slide 75: Turnover
SASOL LIMITED GROUP 73 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 29 Turnover 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Unconsolidated breakdown External 142 436 122 256 137 836 129 943 98 127 82 395 69 239 60 151 64 555 Inters
Slide 76: Turnover by business segment
SASOL LIMITED GROUP 74 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 29 (continued) Turnover 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Business unit segmentation South African Energy Cluster 60 672 53 493 58 167 58 515 42 561 36 3
Slide 77: Cost of sales and services rendered
SASOL LIMITED GROUP 75 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 29 (continued) 2011 2010 2009 2008 2007 2006 2005 2004 2003 Cost of sales and services rendered Rm Rm Rm Rm Rm Rm Rm Rm Rm Cost of sales of products 90 088 78 886 87 995 74 160 59 434 48 125
Slide 78: Translation (losses) / gains
SASOL LIMITED GROUP 76 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 31 Translation (losses) / gains 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm (Losses) / gains on foreign exchange transactions Realised (1 331) (334) 549 (533) (240
Slide 79: Operating profit
SASOL LIMITED GROUP 77 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 32 Operating profit 2011 2010 2009 2008 2007 2006 2005 2004 2003 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Operating profit before remeasurement items & translation effects 31 392 24 898 26 301 34 214
Slide 80: Operating profit includes
SASOL LIMITED GROUP 78 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 32 (continued) Operating profit Note 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Operating profit includes Amortisation of: Goodwill 3 - - - - - - - (21) (42) Nega
Slide 81: Employee numbers and cost
SASOL LIMITED GROUP 79 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 33 2011 2010 2009 Employee numbers and cost Number Number Number The total number of permanent & non-permanent employees, excluding contractors and associates' employees, and including a prop
Slide 82: Finance income and share of profit of associates
SASOL LIMITED GROUP 80 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 34 2011 2010 2009 2008 2007 2006 2005 2004 2003 Finance income Rm Rm Rm Rm Rm Rm Rm Rm Rm Dividends received from investments available-for-sale 40 31 27 10 34 36 28 15 12 South Africa 3 5 1
Slide 83: Finance expenses
SASOL LIMITED GROUP 81 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 36 Note 2011 2010 2009 2008 2007 2006 2005 2004 2003 Finance expenses Rm Rm Rm Rm Rm Rm Rm Rm Rm Comprising Bank overdraft 19 7 16 56 49 13 151 174 8 Debt 506 899 1 192 1 979 1 409 1 385 1 10
Slide 84: Taxation
SASOL LIMITED GROUP 82 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 37 Taxation 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Tax charge per the income statement South African normal tax 5 235 4 270 8 067 8 497 6 016 5 644 3 211 2 83
Slide 85: Reconciliation of effective tax rate
83 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 37 (continued) 2011 2010 2009 2008 2007 2006 2005 % % % % % % % Reconciliation of effective tax rate South African normal tax rate 28,0 28,0 28,0 28,0 29,0 29,0 29,0 Increase in rate of tax d
Slide 86: Earnings per share
SASOL LIMITED GROUP 84 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 38 Earnings per share Earnings per share is derived by dividing attributable earnings by the weighted average number of shares, after taking the share repurchase programme and the Sasol Inzal
Slide 87: Remeasurement items affecting operating profit
SASOL LIMITED GROUP 85 NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June Note 39 Note Remeasurement items affecting operating profit 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Impairment of (190) (110) (458) (821) (208) (1 067) (1 036) (311) (83) property, pla
Slide 88: Other comprehensive income
SASOL LIMITED GROUP 86 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 40 Other comprehensive income 2011 2010 2009 2008 Rm Rm Rm Rm Components of other comprehensive income Effect of translation of foreign operations (2 031) (802) (2 485) 3 452 Effect of cash f
Slide 89: Share capital
SASOL LIMITED GROUP 87 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 41 Share capital 2011 2010 2009 2008 2007 2006 2005 2004 Number of shares Number of shares Number of shares Number of shares Number of shares Number of shares Number of shares Number of share
Slide 90: Share-based payment expenses
SASOL LIMITED GROUP 88 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42 Share-based payment expenses Note 2011 2010 2009 2008 2007 2006 Number of shares Number of shares Number of shares Number of shares Number of shares Number of shares During the year the fo
Slide 91: Sasol Share Incentive Scheme
89 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42.1 (continued) 2011 2010 2009 2008 2007 2006 2005 2004 The Sasol Share Incentive Scheme Rand per share Rand per share Rand per share Rand per share Rand per share Rand per share Rand per sh
Slide 92: Sasol Inzalo share transaction
SASOL LIMITED GROUP 90 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42.2 The Sasol Inzalo share transaction In May 2008, the shareholders approved the Sasol Inzalo share transaction, a broad-based Black Economic Empowerment (BEE) transaction, which resulted i
Slide 93: Sasol Inzalo transaction: selected participants
SASOL LIMITED GROUP 91 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42.2 (continued) The Sasol Inzalo share transaction c Selected Participants In 2008, selected BEE groups (Selected Participants) which included Sasol customers, Sasol suppliers, Sasol franchi
Slide 94: Sasol Inzalo: shares and share rights
SASOL LIMITED GROUP 92 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42.2 (continued) The Sasol Inzalo share transaction a) Employee and d) Black Public Management b) Sasol Inzalo c) Selected Invitations - Trusts Foundation Participants Funded Total 2011 2011
Slide 95: Sasol Inzalo: movements in shares
SASOL LIMITED GROUP 93 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited The Sasol Inzalo share transaction Note 42.2 (continued) Number of Weighted Aggregate Weighted shares / share average value intrinsic value average Movements in the number of shares and share righ
Slide 96: The Ixia Coal transaction
SASOL LIMITED GROUP 94 NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June Note 42.3 The Ixia Coal transaction On 29 September 2010, the remaining conditions precedent for the conclusion of the Ixia Coal transaction were met, which resulted in the Ixia Coal transaction becoming effective. T
Slide 97: Share Appreciation Rights Scheme
SASOL LIMITED GROUP 95 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42.4 The Sasol Share Appreciation Rights Scheme During March 2007, the group introduced the Sasol Share Appreciation Rights Scheme. This scheme replaces the Sasol Share Incentive Scheme. The
Slide 98: Share Appreciation Rights with performance targets
SASOL LIMITED GROUP 96 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42.4 The Sasol Share Appreciation Rights Scheme 42.4.2 Share Appreciation Rights with corporate performance targets During September 2009, the group introduced the Sasol Medium-term Incentive
Slide 99: Medium-term Incentive Scheme
SASOL LIMITED GROUP 97 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42.5 The Sasol Medium-term Incentive Scheme During September 2009, the group introduced the Sasol Medium-term Incentive Scheme (MTI). The objective of the MTI Scheme is to provide qualifying
Slide 100: Foreign currency translation reserve
SASOL LIMITED GROUP 98 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 43 Note Foreign currency translation reserve 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Translation of foreign operations Property, plant and equipment (1 372) (6
Slide 101: Share repurchase programme
SASOL LIMITED GROUP 99 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 44 2011 2010 2009 2008 2007 2006 2005 2004 2003 Number of Number of Number of Number of Number of Number of Number of Number of Number of Share repurchase programme shares shares shares share
Slide 102: Cash flow from operations
SASOL LIMITED GROUP 100 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 45 Cash flow from operations Note 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Operating profit 29 950 23 937 24 666 33 816 25 621 17 212 14 386 9 168 11 767 Adjus
Slide 103: Increase / decrease in working capital
SASOL LIMITED GROUP 101 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 46 (Increase) / decrease in working capital 2011 2010 2009 2008 2007 2006 2005 2004 2003 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm (Increase) / decrease in inventories Per the statement of financial p
Slide 104: Working capital: payables
SASOL LIMITED GROUP 102 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 46 (continued) (Increase) / decrease in working capital 2011 2010 2009 2008 2007 2006 2005 2004 2003 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Increase / (decrease) in trade payables and accrued expen
Slide 105: Tax paid
SASOL LIMITED GROUP 103 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 48 Tax paid Note 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Rm Net amounts unpaid at beginning of year (194) (675) (1 522) (1 465) (1 899) (614) (61) (571) (2 398)
Slide 106: Acquisitions
SASOL LIMITED GROUP 104 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 51 Acquisitions 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Property, plant and equipment 709 - (17) (305) (31) (27) - (490) (174) (688) Assets under cons
Slide 107: Acquisitions in 2011
SASOL LIMITED GROUP 105 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 51 (continued) Acquisitions Acquisitions in 2011 On 17 December 2010, Sasol signed an agreement with the Canadian based Talisman Energy Inc (Talisman) to acquire a 50% stake in their Farrell
Slide 108: Disposals
SASOL LIMITED GROUP 106 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 52 Disposals Note 2011 2010 2009 2008 2007 2006 2005 2002 Rm Rm Rm Rm Rm Rm Rm Rm Property, plant and equipment cost 1 18 517 - 2 - - 332 - accumulated depreciation 1 (8) (516) - - (2) - (19
Slide 109: Disposal of businesses
SASOL LIMITED GROUP 107 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 52 (continued) Disposal of businesses Disposals in 2011 On 5 July 2010, Sasol Nitro concluded a settlement agreement with the South African Competition Commission. In terms of this settlemen
Slide 110: Commitments under leases
108 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 53 2011 2010 2009 2008 2007 2006 2005 2004 2003 Commitments under leases Rm Rm Rm Rm Rm Rm Rm Rm Rm The group rents buildings under long-term non-cancellable operating leases and also rents
Slide 111: Lease commitments by segment
109 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 53 (continued) 2011 2010 2009 2008 2007 2006 2005 2004 Commitments under leases Rm Rm Rm Rm Rm Rm Rm Rm Business segmentation - minimum future operating lease payments (buildings and equipme
Slide 112: Guarantees and contingent liabilities
70 SASOL LIMITED GROUP 110 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 54 Guarantees and contingent liabilities Liability Liability Liability Liability Liability included on included on included on included on included on statement of statement of statement
Slide 113: Guarantees and contingent liabilities (continued)
SASOL LIMITED GROUP 111 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 54 (continued) Guarantees and contingent liabilities x. Guarantees issued in favour of various financial institutions in respect of the debt facilities of R1 066 million for the Natref crude
Slide 114: Interest in joint ventures
112 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 55 Interest in joint ventures In accordance with the group's accounting policy, the results of joint ventures are proportionately consolidated on a line-by-line basis. The information provid
Slide 115: Segmental information: Mining business unit
SASOL LIMITED GROUP 113 SEGMENTAL INFORMATION for the year ended 30 June Mining business unit 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Sales Rm 9 146 7 863 8 297 7 479 6 042 5 466 5 215 5 244 5 016 4 890 3 772 Sasol market 7 117 6 167 5 412 5 009 4 348 3 949 3 744 4 161 4 003 3 651 2 9
Slide 116: Mining costs 2011 versus 2010
SASOL LIMITED GROUP 114 SEGMENTAL INFORMATION for the year ended 30 June Mining costs - 2011 versus 2010 2011 2010 Change % change Turnover net of CIF distribution costs Rm 9 146 7 863 1 283 16,3% Sundry income Rm 101 58 43 Translation losses Rm (27) (2) (25) Rm 9 220 7 919 1 301 Costs Rm (8 157) (7
Slide 117: Gas business unit
SASOL LIMITED GROUP 115 SEGMENTAL INFORMATION for the year ended 30 June Gas business unit 2011 2010 2009 2008 2007 2006 2005 2004 2003 Turnover Rm 5 445 5 371 5 666 4 697 3 702 3 209 2 404 1 522 1 504 Sasol market Rm 2 275 2 385 2 837 2 134 1 627 1 546 996 133 24 External market Rm 3 170 2 986 2 82
Slide 118: Synfuels business unit
SASOL LIMITED GROUP 116 SEGMENTAL INFORMATION for the year ended 30 June Synfuels business unit Note: With effect from 2004 Carbo-Tar reported as part of Synfuels. Effective 2006, Carbo-Tar has been consolidated into Synfuels 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Total turnover (inc
Slide 119: Synfuel costs 2011 versus 2010
SASOL LIMITED GROUP 117 SEGMENTAL INFORMATION for the year ended 30 June Synfuel costs - 2011 versus 2010 2011 2010 Change % change Turnover Rm 37 485 33 893 3 592 10,6 Costs Rm (22 297) (20 718) (1 579) (7,6) Cash costs Rm (18 865) (17 186) (1 679) 9,8 Unrealised profit in inventory Rm (658) (339)
Slide 120: Oil business unit
SASOL LIMITED GROUP 118 SEGMENTAL INFORMATION for the year ended 30 June Oil business unit 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Total turnover (including intercompany) Rm 54 784 48 411 51 694 52 998 38 191 32 787 23 712 18 851 19 651 16 986 Operating profit Rm 1 180 1 364 (351) 5 507 2
Slide 121: Sasol Synfuels International business unit
SASOL LIMITED GROUP 119 SEGMENTAL INFORMATION for the year ended 30 June Sasol Synfuels International business unit 2011 2010 2009 2008 2007 Total turnover (including intercompany) Rm 3 715 2 282 3 027 1 788 65 Operating profit Rm 1 205 131 (235) (621) (763) Operating margin % 32,4 5,7 (7,8) (34,7)
Slide 122: Sasol Petroleum International business unit
SASOL LIMITED GROUP 120 SEGMENTAL INFORMATION for the year ended 30 June Sasol Petroleum International business unit 2011 2010 2009 2008 2007 2006 2005 2004 Turnover Rm 2 157 1 685 2 139 1 971 1 400 1 237 841 312 Sasol market 946 769 983 743 623 588 445 50 external market 1 211 916 1 156 1 228 777 6
Slide 123: Polymers business unit
SASOL LIMITED GROUP 121 SEGMENTAL INFORMATION for the year ended 30 June Polymers business unit 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Total turnover (including intercompany) Rm 17 082 14 321 15 525 11 304 9 410 7 639 7 282 6 662 6 361 5 695 4 904 Operating profit Rm 1 579 958 946 1
Slide 124: Solvents business unit
SASOL LIMITED GROUP 122 SEGMENTAL INFORMATION for the year ended 30 June Solvents business unit 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Total turnover (including intercompany) Rm 17 280 15 765 18 115 17 182 13 766 11 666 10 308 6 455 6 572 5 805 3 085 Operating profit Rm 1 655 1 154 4
Slide 125: Solvents production capacity
SASOL LIMITED GROUP 123 SEGMENTAL INFORMATION for the year ended 30 June Solvents production capacity 2011 2010 2009 2008 Africa Europe 2011 2010 2009 Africa Europe Ketones ktpa 358 358 328 328 Pure alcohols ktpa 853 853 853 Acetone ktpa 175 175 175 175 Methanol ktpa 140 140 140 MEK ktpa 125 125
Slide 126: Olefins & Surfactants business unit
SASOL LIMITED GROUP 124 SEGMENTAL INFORMATION for the year ended 30 June Olefins & Surfactants (O&S) business unit 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Total turnover (including intercompany) Rm 31 715 25 283 29 534 28 780 22 582 19 095 17 096 17 382 19 833 19 383 6 682 Operating p
Slide 127: Other chemicals business unit
SASOL LIMITED GROUP 125 SEGMENTAL INFORMATION for the year ended 30 June Other chemicals business unit 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Total turnover (including intercompany) Rm 16 777 16 208 18 739 16 430 13 123 10 884 10 140 10 144 11 414 10 553 7 656 Nitro Rm 4 798 4 709 6
Slide 128: Calculations: EBITDA and free cash flow
SASOL LIMITED GROUP 126 CALCULATIONS for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 EBITDA Operating profit Rm 29 950 23 937 24 666 33 816 25 621 17 212 14 386 9 168 11 767 14 671 Goodwill amortisation Rm - - - - - - - 21 42 33 Negative goodwill amortisation Rm - - - -
Slide 129: Calculations: return on equity and assets
SASOL LIMITED GROUP 127 CALCULATIONS (continued) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 RETURN ON TOTAL SHAREHOLDERS' EQUITY Attributable earnings Rm 19 794 15 941 13 648 22 417 17 030 10 406 9 449 5 795 7 674 Shareholders' equity - current year Rm 107 649 94 730 83
Slide 130: Calculations: margins and net asset turnover
SASOL LIMITED GROUP 128 CALCULATIONS (continued) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 GROSS MARGIN Turnover 142 436 122 256 137 836 129 943 98 127 82 395 69 239 60 151 64 555 Cost of sales (90 467) (79 183) (88 508) (74 634) (59 997) (48 547) (42 250) (38 794) (39
Slide 131: Calculations: net working capital to turnover
SASOL LIMITED GROUP 129 CALCULATIONS (continued) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 NET WORKING CAPITAL TO TURNOVER Turnover 142 436 122 256 137 836 129 943 98 127 82 395 69 239 60 151 64 555 Net working capital 20 484 18 749 15 444 27 209 17 045 16 918 12 612 10
Slide 132: Calculations: effective tax rate and liabilities to equity
SASOL LIMITED GROUP 130 CALCULATIONS (continued) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 EFFECTIVE TAX RATE Taxation 9 196 6 985 10 480 10 129 8 153 6 534 4 573 3 175 4 007 Net income before tax 29 416 23 372 24 195 33 657 25 703 17 116 14 132 9 036 11 769 Effective t
Slide 133: Calculations: debt coverage and current ratio
SASOL LIMITED GROUP 131 CALCULATIONS (continued) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 DEBT COVERAGE * Cash generated by operating activities 38 639 27 338 48 187 34 740 28 432 24 535 18 902 15 151 15 997 Total borrowings 16 167 15 772 18 457 20 092 19 525 18 266 18
Slide 134: Calculations: market capitalisation
SASOL LIMITED GROUP 132 CALCULATIONS (continued) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 MARKET CAPITALISATION - Sasol ordinary shares Number of shares at end of year (before repurchase) millions 671,0 667,7 665,9 676,7 627,7 683 676,875 671,3 668,8 666,9 Closing
Slide 135: Calculations: price to earnings and EBIT
SASOL LIMITED GROUP 133 CALCULATIONS (continued) for the year ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 PRICE TO EARNINGS Closing market price at 30 June Rand 356,0 274,6 270,0 461,0 266,0 275,0 180,8 96,1 83,6 110,0 Earnings per share Rand 33,0 26,7 22,9 37,3 27,4 16,8 15,4 9,
Slide 136: Calculations: EV/EBITDA
SASOL LIMITED GROUP 134 CALCULATIONS (continued) for the years ended 30 June 2011 2010 2009 2008 2007 2006 2005 2004 2003 EV/EBITDA * Enterprise value 243 005 186 764 181 194 330 137 182 158 202 937 138 869 79 168 67 321 EBITDA 37 350 30 649 30 911 39 028 29 643 21 488 18 468 14 189 16 290 Operating
Slide 137: Glossary
SASOL LIMITED GROUP 135 GLOSSARY Basic earnings per share Market price per share - high Attributable earnings divided by the weighted average number of shares in issue during the year The highest daily closing price during the financial year. after taking the share repurchase programme and the Sasol
Slide 138: Glossary (continued)
SASOL LIMITED GROUP 136 GLOSSARY (continued) Price to Book Market capitalisation divided by total shareholders' equity. Price to Earnings Closing market price per share at 30 June divided by earnings per share. Price to EBIT Market capitalisation divided by operating profit. Price to Turnover Market