Sasol Limited · JSE:SOL
Sasol — FY2010 Earnings Presentation
137 slides from Sasol's earnings presentation, September 2010
Slide 1: Forward-looking statements and Investor Relations contacts
sasol limited forward-looking statements In this document we 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 our future
Slide 2: Analyst Book table of contents
SASOL LIMITED GROUP ANALYST BOOK Financial results for the year ended 30 June 2010 TABLE OF CONTENTS Page TABLE OF CONTENTS (continued) Page Introduction 1 Note 27 Short-term deferred income 71 Principal economic indicators 2-3 Note 28 Trade payables and accrued expenses 72 Financial highlights 4 No
Slide 3: Analyst Book: basis of preparation and accounting policies
1 SASOL LIMITED GROUP ANALYST BOOK Financial results for the year ended 30 June 2010 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 extracts from this
Slide 4: Principal economic indicators
2 SASOL LIMITED GROUP PRINCIPAL ECONOMIC INDICATORS 2010 2009 2008 2007 2006 2005 2004 2003 2002 Economic indicators Rand/US$ exchange rate - closing US$ 1 = R 7.67 7.73 7.83 7.04 7.17 6.67 6.21 7.50 10.27 - average US$ 1 = R 7.59 9.04 7.30 7.20 6.41 6.21 6.88 9.03 10.13 Rand/Euro exchange rate - cl
Slide 5: Principal economic indicators: crude oil prices
3 SASOL LIMITED GROUP PRINCIPAL ECONOMIC INDICATORS 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 international oil cartels. Our exposure to
Slide 6: Financial highlights
SASOL LIMITED FINANCIAL HIGHLIGHTS 4 for the year ended 30 June % change 2009 2010 2010 2009 2008 2007 2006 2005 2004 2003 2002 US$ US$ 2010 vs. 2009 Rand Rand Rand Rand Rand Rand Rand Rand Rand 15,247 16,108 Turnover million (11%) 122,256 137,836 129,943 98,127 82,395 69,239 60,151 64,555 59,590 3,
Slide 7: Financial review
SASOL LIMITED GROUP 5 FINANCIAL REVIEW 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Statement of financial position Property, plant and equipment 72,523 70,370 66,273 50,611 39,929 39,618 38,003 30,574 30,594 25,241 17,200 Assets under construction 21,018
Slide 8: Shareholders' information
SASOL LIMITED GROUP 6 SHAREHOLDERS' INFORMATION for the years ended 30 June Shareholders' diary Half year end 31 December 2009 Financial year end 30 June 2010 Annual general meeting 26 November 2010 Dividends Dividends Interim dividend - SA Rand per ordinary share (excludes Sasol preferred ordinary
Slide 9: Share ownership
7 SASOL LIMITED GROUP SHARE OWNERSHIP Share ownership at 30 June 2010 Number of % of % of listed Public and non-public shareholding of Sasol listed ordinary shares shareholders shareholders Number of shares shares Public 67,825 99.9 591,913,923 92.6 Non-public 60 0.1 47,373,893 7.4 - Directors and t
Slide 10: Value added statement
SASOL LIMITED GROUP 8 VALUE ADDED STATEMENT for the year ended 30 June 2010 2009 2008 2007 2006 2005 Rm Rm Rm Rm Rm Rm Turnover 122,256 137,836 129,943 98,127 82,395 69,239 Less: purchased materials and services 74,061 89,393 76,472 56,789 51,356 41,989 Value added 48,195 48,443 53,471 41,338 31,039
Slide 11: Key performance indicators
SASOL LIMITED GROUP 9 KEY PERFORMANCE INDICATORS for the years ended 30 June Summary of statistics 2010 2009 2008 2007 2006 1 2005 2004 2003 2002 Shareholders' returns Attributable earnings per share Rand 26.68 22.90 37.30 27.35 16.78 15.39 9.50 12.59 15.84 Headline earnings per share Rand 26.57 25.
Slide 12: Group segment summary 2010
SASOL LIMITED GROUP 10 GROUP SEGMENT SUMMARY for the year ended 30 June 2010 Internatn'l SA energy Mining Gas Synfuels Oil Other energy SSI SPI Chemicals Polymers Solvents O&S Wax Nitro Other Other² Total operations Business segmentation - June 2010 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm
Slide 13: Group segment summary 2009
SASOL LIMITED GROUP 11 GROUP SEGMENT SUMMARY for the year ended 30 June 2009 Internatn'l SA energy Mining Gas Synfuels Oil Other energy SSI SPI Chemicals Polymers Solvents O&S Wax Nitro Other Other² Total operations Business segmentation - June 2009 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm
Slide 14: Segment report 2008
SASOL LIMITED GROUP 12 SEGMENT REPORT for the year ended 30 June 2008 Internatn'l SA energy Mining Gas Synfuels Oil Other energy SSI SPI Chemicals Polymers Solvents O&S Wax Nitro Other Other² Total operations Business segmentation - June 2008 Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Rm Tur
Slide 15: Statements of financial position
SASOL LIMITED GROUP 13 PRELIMINARY STATEMENTS OF FINANCIAL POSITION Audited at 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm ASSETS Property, plant and equipment 2 72,523 70,370 66,273 50,611 39,929 39,618 38,003 30,574 30,594 Assets under construction 3 21,018
Slide 16: Statements of financial position (US dollar)
SASOL LIMITED GROUP 14 PRELIMINARY STATEMENTS OF FINANCIAL POSITION (US dollar convenience translation) at 30 June 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 ASSETS Property, plant and equipment 9,455 9,104 8,464 7,189 5,569 5,940 6,120 4,077 2
Slide 17: Income statements
SASOL LIMITED GROUP 15 PRELIMINARY INCOME STATEMENTS Audited for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Turnover 30 122,256 137,836 129,943 98,127 82,395 69,239 60,151 64,555 59,590 Cost of sales and services rendered (79,183) (88,508) (74
Slide 18: Income statements (US dollar)
SASOL LIMITED GROUP 16 PRELIMINARY INCOME STATEMENTS (US dollar convenience translation) for the year ended 30 June 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 Turnover 16,108 15,247 17,800 13,629 12,854 11,150 8,747 7,149 5,882 Cost of sales an
Slide 19: Statements of comprehensive income
SASOL LIMITED GROUP 17 PRELIMINARY STATEMENTS OF COMPREHENSIVE INCOME Audited for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Profit for year 16,387 13,715 23,528 17,550 10,582 9,559 5,861 7,762 9,743 Other comprehensive income Effect of transl
Slide 20: Statements of changes in equity
SASOL LIMITED GROUP 18 PRELIMINARY STATEMENTS OF CHANGES IN EQUITY Audited for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Share capital 40 Balance at beginning of year 27,025 20,176 3,628 3,634 3,203 2,892 2,783 2,706 2,630 Shares issued on im
Slide 21: Statements of cash flows
SASOL LIMITED GROUP 19 PRELIMINARY STATEMENTS OF CASH FLOWS for the year ended 30 June Audited 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Cash flow from operations 44 30,762 37,194 42,558 28,618 28,284 21,081 14,859 15,986 19,241 (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 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 Cash flow from operations 4,010 4,812 5,435 4,065 3,945 3,161 2,393 2,131 1,87
Slide 23: Notes: reclassification of comparative information
SASOL LIMITED GROUP 21 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 1 Reclassification of comparative information 1.1. Reclassification from other payables and accrued expenses to trade payables The group has reclassified amounts relating to capital project r
Slide 24: Property, plant and equipment: cost
SASOL LIMITED GROUP 22 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 Property, plant and equipment 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Cost Balance at beginning of year 129,560 123,526 99,309 68,844 77,845 72,956 Acqu
Slide 25: Property, plant and equipment: accumulated depreciation
SASOL LIMITED GROUP 23 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (continued) Property, plant and equipment 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Accumulated depreciation and impairment Balance at beginning of year 5
Slide 26: Property, plant and equipment: carrying value
SASOL LIMITED GROUP 24 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (continued) 2010 2009 2008 2007 2006 Property, plant and equipment Rm Rm Rm Rm Rm Carrying value of property, plant and equipment South African Energy cluster 28,605 27,314 25,752 22,071 21
Slide 27: Property, plant and equipment: additions
SASOL LIMITED GROUP 25 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (continued) Property, plant and equipment 2010 2009 2008 2007 2006 Rm Rm Rm Rm Rm Additions to property, plant and equipment To enhance existing operations 1,609 1,980 1,768 1,149 709 curre
Slide 28: Property, plant and equipment: additions classification
SASOL LIMITED GROUP 26 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (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 29: Property, plant and equipment: capital commitments
SASOL LIMITED GROUP 27 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (continued) Property, plant and equipment 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Capital commitments Capital commitments, excluding capitalised interest, in
Slide 30: Capital commitments by geography
SASOL LIMITED GROUP 28 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (continued) Property, plant and equipment 2010 2009 2008 2007 2006 2005 2004 Rm Rm Rm Rm Rm Rm Rm Capital commitments (continued) Geographic segmentation South Africa 42,285 21,339 16,786 1
Slide 31: Key projects approved not completed at 30 June 2010
SASOL LIMITED GROUP 29 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS Audited Note 2 (continued) Key projects approved which were not completed at 30 June 2010 Amount Estimated approved Amount Estimated beneficial Sasol's effective Business by Sasol contracted end of job operation Project Project rel
Slide 32: Depreciation of property, plant and equipment
SASOL LIMITED GROUP 30 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 2 (continued) Property, plant and equipment 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Depreciation of property, plant and equipment Current period charge South African E
Slide 33: Assets under construction
SASOL LIMITED GROUP 31 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 3 2010 2009 2008 2007 2006 2005 2004 2003 2002 Assets under construction Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Cost Balance at beginning of year 14,496 11,693 24,611 23,176 18,088 9,811 Acquisition
Slide 34: Additions to assets under construction
SASOL LIMITED GROUP 32 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 3 (continued) 2010 2009 2008 2007 2006 Additions to assets under construction (cash flow) Rm Rm Rm Rm Rm To enhance existing operations 7,849 5,684 3,825 3,933 4,858 current year additions 7,
Slide 35: Capital expenditure: significant projects
SASOL LIMITED GROUP 33 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 3 (continued) Capital expenditure Significant projects to enhance operations: As part of the normal plant operations, the group incurs capital expenditure to replace or modify significant com
Slide 36: Goodwill and negative goodwill
SASOL LIMITED GROUP 34 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 4 Goodwill (and negative goodwill) 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Goodwill Cost Balance at beginning of year 1,877 2,102 1,524 1,361 1,205 704 61
Slide 37: Other intangible assets
SASOL LIMITED GROUP 35 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 5 Other intangible assets Note 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Cost Balance at beginning of year 3,067 2,992 2,861 2,188 2,518 2,392 Acquisition of bus
Slide 38: Other intangible assets: amortisation
SASOL LIMITED GROUP 36 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 5 (continued) Other intangible assets Note 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Accumulated amortisation and impairment Balance at beginning of year 1,999 2
Slide 39: Other intangible assets: estimated amortisation
SASOL LIMITED GROUP 37 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 5 (continued) 2010 2009 2008 2007 2006 Other intangible assets Rm Rm Rm Rm Rm Estimated future aggregate amortisation Within one year 26.2% 248 195 167 172 1 to 2 years 18.7% 177 147 113 130
Slide 40: Additions to intangible assets
SASOL LIMITED GROUP 38 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 5 (continued) Other intangible assets 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm enhance existing expand operations operations Total Additions to intangible assets Rm Rm
Slide 41: Intangible assets: capital commitments
SASOL LIMITED GROUP 39 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 5 (continued) Other intangible assets 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Capital commitments Capital commitments include all projects for which specific b
Slide 42: Non-current assets disclosure
SASOL LIMITED GROUP 40 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 6 2010 2009 2008 2007 2006 2005 2004 2003 2002 Non-current assets disclosure Rm Rm Rm Rm Rm Rm Rm Rm Rm Summary Non-current assets - Cost Property, plant and equipment 134,174 129,560 123,526
Slide 43: Non-current assets carrying value
SASOL LIMITED GROUP 41 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 6 (continued) 2010 2009 2008 2007 2006 2005 2004 2003 2002 Non-current assets disclosure Rm Rm Rm Rm Rm Rm Rm Rm Rm Non-current assets - Carrying value Property, plant and equipment 72,523 70
Slide 44: Investments in securities
SASOL LIMITED GROUP 42 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 7 Note Investments in securities 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Available-for-sale investments Long-term investments available-for-sale 168 187 210 16
Slide 45: Investments in securities by segment
SASOL LIMITED GROUP 43 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 7 (continued) Investments in securities 2010 2009 2008 2007 2006 2005 2004 2003 Rm Rm Rm Rm Rm Rm Rm Rm Business unit segmentation South African Energy cluster 418 389 349 312 240 194 187 166
Slide 46: Investments in associates
SASOL LIMITED GROUP 44 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 8 Investments in associates 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Comprising Investments at cost 3,365 2,105 271 238 314 323 248 211 258 Loan relating to ass
Slide 47: Post-retirement benefit assets
SASOL LIMITED GROUP 45 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 9 Post-retirement benefit assets 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Post-retirement benefit assets 789 716 571 363 80 303 242 451 569 Short-term portion -
Slide 48: Long-term receivables and prepaid expenses
SASOL LIMITED GROUP 46 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS ` for the year ended 30 June Audited Note 10 Long-term receivables and prepaid expenses 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Total long-term receivables 1,317 1,835 1,499 1,579 943 1,168 1,152 933
Slide 49: Disposal groups held for sale
SASOL LIMITED GROUP 47 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 12 Disposal groups held for sale 2010 2009 2008 2007 2006 Rm Rm Rm Rm Rm Assets held for sale Sasol Italy Paderno Dugnano site 16 - - - - Sasol Italy Crotone - 86 - - - Escravos GTL (EGTL) -
Slide 50: Disposal groups held for sale (continued)
SASOL LIMITED GROUP 48 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 12 (continued) Disposal groups held for sale 12.3 Solvents Germiston site On 21 July 2008, Sasol entered into negotiations to sell the Solvent's Germiston site as a going concern to a suitabl
Slide 51: Inventories
SASOL LIMITED GROUP 49 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 13 Inventories 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Comprising Crude oil and other raw materials 1 2,622 2,593 5,130 3,226 1,605 2,388 1,629 1,768 1,869 Pro
Slide 52: Inventory obsolescence
SASOL LIMITED GROUP 50 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 13 (continued) Inventories 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Inventory obsolescence (taken into account in the carrying value of inventory above) Balance
Slide 53: Trade receivables
SASOL LIMITED GROUP 51 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 14 Trade receivables 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Trade receivables 14,245 12,052 18,864 12,076 7,598 8,891 7,765 7,869 9,297 Related party receivab
Slide 54: Trade receivables credit risk
SASOL LIMITED GROUP 52 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 14 (continued) Trade receivables 2010 2009 2008 2007 2006 Rm Rm Rm Rm Rm Credit risk exposure in respect of trade receivables is analysed as follows: Business segmentation South African Energ
Slide 55: Other receivables and prepaid expenses
SASOL LIMITED GROUP 53 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 15 Note Other receivables and prepaid expenses 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Fuel related receivables* - - 550 38 112 - - - - Insurance related recei
Slide 56: Cash and cash equivalents
SASOL LIMITED GROUP 54 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 17 Cash and cash equivalents 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Cash and cash equivalents Cash restricted for use 1,841 1,247 814 646 584 1,002 527 665 95
Slide 57: Long-term debt
SASOL LIMITED GROUP 55 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 18 Note Long-term debt 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Total long-term debt Secured debt 3,611 3,973 7,469 7,300 7,661 5,598 4,668 3,522 4,786 Preferen
Slide 58: Long-term debt by segment
SASOL LIMITED GROUP 56 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 18 (continued) Long-term debt 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Business segmentation South African Energy cluster 4,409 4,086 4,006 4,340 4,138 3,611 2,
Slide 59: Long-term debt: secured terms
SASOL LIMITED GROUP 57 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 18 (continued) In terms of Sasol Limited's Articles of Association the group's borrowing powers are limited to twice the sum of its stated capital and reserves (2010 - R189 billion, 2009 - R
Slide 60: Long-term debt: unsecured terms
SASOL LIMITED GROUP 58 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 18 (continued) Long-term debt as at 30 June 2010 Terms of repayment Business Interest rate at 30 June 2010 2010 2009 2008 2007 2006 2005 Rm Rm Rm Rm Rm Rm Unsecured debt Repayable in semi-ann
Slide 61: Banking facilities and debt arrangements
SASOL LIMITED GROUP 59 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 18 (continued) Banking facilities and debt arrangements at 30 June 2010 2010 2010 2009 2009 2008 2008 Facility Utilised Facility Utilised Facility Utilised Expiry date Currency Rm Rm Rm Rm Rm
Slide 62: Long-term financial liabilities
SASOL LIMITED GROUP 60 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 19 Long-term financial liabilities 2010 2009 2008 2007 Rm Rm Rm Rm Financial guarantees recognised 35 37 53 56 Forward exchange contracts recognised 36 110 - - Interest rate derivates recogni
Slide 63: Long-term provisions
SASOL LIMITED GROUP 61 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 20 Note Long-term provisions 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Balance at beginning of year 6,906 5,614 4,568 3,929 3,301 3,017 2,954 3,510 2,748 Capital
Slide 64: Long-term provisions by segment
SASOL LIMITED GROUP 62 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 20 (continued) Long-term provisions 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Business segmentation South African Energy cluster 4,524 3,299 2,235 2,112 2,283 1,
Slide 65: Post-retirement benefit obligations
SASOL LIMITED GROUP 63 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 21 Post-retirement benefit obligations 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Post-retirement healthcare benefits 2,535 2,315 2,246 2,027 1,616 1,772 1,613 1,
Slide 66: Post-retirement pension benefits
SASOL LIMITED GROUP 64 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 21 (continued) Post-retirement benefit obligations 2010 2009 2008 2007 2006 2005 2004 Rm Rm Rm Rm Rm Rm Rm Post-retirement pension benefits Reconciliation of funded status to amounts recognis
Slide 67: Long-term deferred income
SASOL LIMITED GROUP 65 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 22 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Long-term deferred income Total deferred income 476 479 543 2,809 1,708 771 252 96 65 Short-term portion 27 (203) (1
Slide 68: Deferred tax
SASOL LIMITED GROUP 66 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 23 Note Deferred tax 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Reconciliation Balance at beginning of year 7,984 6,993 7,459 5,465 5,966 5,546 5,919 5,977 5,083
Slide 69: Deferred tax: tax losses
67 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 23 (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 70: Short-term debt
SASOL LIMITED GROUP 68 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 24 Note Short-term debt 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Bank loans 411 443 1,944 288 1,188 2,405 4,138 995 721 Revolving credit - - 358 2,107 535 663 1
Slide 71: Short-term debt: interest bearing status
SASOL LIMITED GROUP 69 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 24 (continued) Interest bearing status Short-term debt bears interest at market related rates. The weighted average interest rate applicable to short-term debt for 2010 was approximately 18,1
Slide 72: Short-term provisions
SASOL LIMITED GROUP 70 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 26 Note Short-term provisions 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Comprising Employee provisions 160 173 130 42 850 920 741 414 630 Insurance related provi
Slide 73: Short-term deferred income
SASOL LIMITED GROUP 71 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 27 Short-term deferred income 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Short-term portion of long-term deferred income 22 203 182 167 44 10 8 15 - - Short-term
Slide 74: Trade payables and accrued expenses
SASOL LIMITED GROUP 72 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 28 Trade payables and accrued expenses 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Trade payables 9,132 8,537 11,172 5,946 3,555 4,733 3,886 4,060 4,226 Accrued ex
Slide 75: Other payables
SASOL LIMITED GROUP 73 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 29 Note Other payables 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Capital projects related payables 1.1 - - - 935 594 805 777 612 804 Employee related payables 2,
Slide 76: Turnover
SASOL LIMITED GROUP 74 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 30 Turnover 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Unconsolidated breakdown External 122,256 137,836 129,943 98,127 82,395 69,239 60,151 64,555 59,590 Interse
Slide 77: Turnover by business segment
SASOL LIMITED GROUP 75 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 30 (continued) Turnover 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Business unit segmentation South African Energy Cluster 53,493 58,167 58,515 42,561 36,338 27,2
Slide 78: Cost of sales and services rendered
SASOL LIMITED GROUP 76 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 30 (continued) 2010 2009 2008 2007 2006 2005 2004 2003 2002 Cost of sales and services rendered Rm Rm Rm Rm Rm Rm Rm Rm Rm Cost of sales of products 78,886 87,995 74,160 59,434 48,125 41,978
Slide 79: Translation gains and losses
SASOL LIMITED GROUP 77 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 32 Translation (losses) / gains 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm (Losses) / gains on foreign exchange transactions Realised (334) 549 (533) (240) (220)
Slide 80: Operating profit
SASOL LIMITED GROUP 78 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 33 Operating profit 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Operating profit before remeasurement items & translation effects 24,898 26,301 34,214 24,713
Slide 81: Operating profit includes
SASOL LIMITED GROUP 79 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 33 (continued) Operating profit Note 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Operating profit includes Amortisation of: Goodwill 4 - - - - - - (21) (42) (33) N
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 2010 2009 2008 2007 2006 2005 2004 2003 2002 Finance income Rm Rm Rm Rm Rm Rm Rm Rm Rm Dividends received from investments available-for-sale 31 27 10 34 36 28 15 12 2 South Africa 5 1 - 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 2010 2009 2008 2007 2006 2005 2004 2003 2002 Finance expenses Rm Rm Rm Rm Rm Rm Rm Rm Rm Comprising Bank overdraft 7 16 56 49 13 151 174 8 4 Debt 899 1,192 1,979 1,409 1,385 1,108 966
Slide 84: Taxation
SASOL LIMITED GROUP 82 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 37 Taxation 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Tax charge per the income statement South African normal tax 4,270 8,067 8,497 6,016 5,644 3,211 2,834 3,08
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) 2010 2009 2008 2007 2006 2005 % % % % % % Reconciliation of effective tax rate South African normal tax rate 28.0 28.0 28.0 29.0 29.0 29.0 Increase in rate of tax due to: STC 2
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: Earnings per share: remeasurement items
SASOL LIMITED GROUP 85 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 38 (continued) Note Earnings per share 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Remeasurement items affecting operating profit Impairment of (110) (458) (821) (
Slide 88: Other comprehensive income
SASOL LIMITED GROUP 86 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 39 Other comprehensive income 2010 2009 2008 2007 Components of other comprehensive income Effect of translation of foreign operations (802) (2,485) 3,452 (258) Effect of cash flow hedges 13
Slide 89: Share capital
SASOL LIMITED GROUP 87 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 40 Share capital 2010 2009 2008 2007 2006 2005 2004 2003 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 payments
SASOL LIMITED GROUP 88 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 41 Share-based payments Note 2010 2009 2008 2007 2006 Number of shares Number of shares Number of shares Number of shares Number of shares During the year the following share-based payment ex
Slide 91: Sasol Share Incentive Scheme
89 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 41.1 (continued) 2010 2009 2008 2007 2006 2005 2004 2003 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 41.2 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 share transaction: selected participants
SASOL LIMITED GROUP 91 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 41.2 (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 share transaction: vesting and allocation
SASOL LIMITED GROUP 92 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 41.2 (continued) The Sasol Inzalo share transaction a) Employee and d) Black Public Management b) Sasol Inzalo c) Selected Invitations - Trusts Foundation Participants Funded Total 2010 2010
Slide 95: Sasol Inzalo share transaction: movements
SASOL LIMITED GROUP 93 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited The Sasol Inzalo share transaction Note 41.2 (continued) Weighted Weighted Number of share average share Aggregate average Movements in the number of shares and share rights granted options option
Slide 96: Share Appreciation Rights Scheme
SASOL LIMITED GROUP 94 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 41.3 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 97: Share Appreciation Rights with performance targets
SASOL LIMITED GROUP 95 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 41.3 The Sasol Share Appreciation Rights Scheme 41.3.2 Share Appreciation Rights with corporate performance targets During September 2009, the group introduced the Sasol Medium Term Incentive
Slide 98: Medium Term Incentive Scheme
SASOL LIMITED GROUP 96 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 41.4 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 99: Foreign currency translation reserve
SASOL LIMITED GROUP 97 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 42 Note Foreign currency translation reserve 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Arising on translation of foreign operations Property, plant and equipment
Slide 100: Share repurchase programme
SASOL LIMITED GROUP 98 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 43 2010 2009 2008 2007 2006 2005 2004 2003 2002 Share repurchase programme Number of Number of Number of Number of Number of Number of Number of Number of Number of shares shares shares share
Slide 101: Cash flow from operations
SASOL LIMITED GROUP 99 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 44 Cash flow from operations 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Operating profit 23,937 24,666 33,816 25,621 17,212 14,386 9,168 11,767 14,671 Adjusted fo
Slide 102: Movement in working capital
SASOL LIMITED GROUP 100 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 45 (Increase) / decrease in working capital 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm (Increase) / decrease in inventories Per the statement of financial p
Slide 103: Working capital: payables
SASOL LIMITED GROUP 101 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 45 (continued) (Increase) / decrease in working capital 2010 2009 2008 2007 2006 2005 2004 2003 2002 Note Rm Rm Rm Rm Rm Rm Rm Rm Rm Increase / (decrease) in trade payables and accrued expen
Slide 104: Tax paid
SASOL LIMITED GROUP 102 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 47 Tax paid 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Amounts unpaid at beginning of year (675) (1,522) (1,465) (1,899) (614) (61) (571) (2,398) (2,206) Net int
Slide 105: Acquisition of businesses
SASOL LIMITED GROUP 103 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 50 Acquisition of businesses 2010 2009 2008 2007 2006 2005 2004 2003 2002 Rm Rm Rm Rm Rm Rm Rm Rm Rm Property, plant and equipment - (17) (305) (31) (27) - (490) (174) (688) Assets under con
Slide 106: Acquisitions in 2009 and 2008
SASOL LIMITED GROUP 104 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 50 (continued) Acquistions in 2009 In July 2008, Exel Petroleum (Pty) Limited acquired the remaining 50,1% of Exelem Aviation (Pty) Limited for a purchase consideration of US$1,7 million. Du
Slide 107: Disposal of businesses
SASOL LIMITED GROUP 105 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 51 Disposal of businesses Note 2010 2009 2008 2007 2006 2005 2002 2001 Rm Rm Rm Rm Rm Rm Rm Rm Property, plant and equipment cost 2 517 - 2 - - 332 - - accumulated depreciation 2 (516) - - (
Slide 108: Disposals in 2010 and 2009
SASOL LIMITED GROUP 106 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 51 (continued) Disposal of businesses Disposals in 2010 On 10 July 2007, Sasol Wax disposed of its 31% investment in Paramelt RMC BV, operating in the Netherlands, for a consideration of R25
Slide 109: Commitments under leases
107 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 52 2010 2009 2008 2007 2006 2005 2004 2003 2002 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 110: Operating lease commitments by segment
108 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 52 (continued) 2010 2009 2008 2007 2006 2005 2004 2003 Commitments under leases Rm Rm Rm Rm Rm Rm Rm Rm Business segmentation - minimum future operating lease payments (buildings and equipme
Slide 111: Guarantees and contingent liabilities
SASOL LIMITED GROUP 109 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 53 Guarantees and contingent liabilities Liability Liability Liability Liability Liability included on included on included on included on included on statement of statement of statement of
Slide 112: Guarantees and contingent liabilities (continued)
SASOL LIMITED GROUP 110 NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 53 (continued) Guarantees and contingent liabilities ix. Guarantees issued in favour of various financial institutions in respect of the debt facilities of R1 325 million for the National Pe
Slide 113: Interest in joint ventures
111 SASOL LIMITED GROUP NOTES TO THE PRELIMINARY FINANCIAL STATEMENTS for the year ended 30 June Audited Note 54 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 and include intercompan
Slide 114: Segmental information: Mining business unit
SASOL LIMITED GROUP 112 SEGMENTAL INFORMATION for the year ended 30 June Mining business unit 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Sales Rm 7,863 8,297 7,479 6,042 5,466 5,215 5,244 5,016 4,890 3,772 3,343 Sasol market 6,167 5,412 5,009 4,348 3,949 3,744 4,161 4,003 3,651 2,988 2,8
Slide 115: Mining costs 2010 versus 2009
SASOL LIMITED GROUP 113 SEGMENTAL INFORMATION for the year ended 30 June Mining costs - 2010 versus 2009 2010 2009 Change % change Turnover Rm 7,863 8,297 (434) (5.2%) CIF distribution costs Rm - (129) 129 Turnover net of CIF distribution costs Rm 7,863 8,168 (305) Sundry income Rm 58 49 9 Translati
Slide 116: Gas business unit
SASOL LIMITED GROUP 114 SEGMENTAL INFORMATION for the year ended 30 June Gas business unit Note: With effect from 2004, Gas is treated as a separate business unit (previously included under Sasol Oil) 2010 2009 2008 2007 2006 2005 2004 2003 2002 Turnover Rm 5,371 5,666 4,697 3,702 3,209 2,404 1,522
Slide 117: Synfuels business unit
SASOL LIMITED GROUP 115 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 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Turnover Rm 33,893
Slide 118: Synfuel costs 2010 versus 2009
SASOL LIMITED GROUP 116 SEGMENTAL INFORMATION for the year ended 30 June Synfuel costs - 2010 versus 2009 2010 2009 Change % change Turnover Rm 33,893 37,701 (3,808) (10.1%) Costs Rm (20,718) (12,513) (8,205) (65.6%) Cash costs Rm (17,186) (17,567) 381 2.2% Unrealised profit in inventory Rm (339) 2,
Slide 119: Oil business unit
SASOL LIMITED GROUP 117 SEGMENTAL INFORMATION for the year ended 30 June Oil business unit Note: With effect from 2004 Gas treated as a separate business unit and Carbo-Tar reported as part of Synfuels 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Turnover Rm 48,411 51,694 52,998 38,191 32,
Slide 120: Sasol Synfuels International business unit
SASOL LIMITED GROUP 118 SEGMENTAL INFORMATION for the year ended 30 June Sasol Synfuels International business unit 2010 2009 2008 2007 Turnover Rm 2,282 3,027 1,788 65 Operating profit Rm 131 (235) (621) (763) Operating margin % 5.7 (7.8) (34.7) Contribution to group operating profit % 0.5% (1.0) (
Slide 121: Sasol Petroleum International business unit
SASOL LIMITED GROUP 119 SEGMENTAL INFORMATION for the year ended 30 June Sasol Petroleum International business unit 2010 2009 2008 2007 2006 2005 2004 2003 Turnover Rm 1,685 2,139 1,971 1,400 1,237 841 312 201 Sasol market 769 983 743 623 588 445 50 - external market 916 1,156 1,228 777 649 396 262
Slide 122: Polymers business unit
SASOL LIMITED GROUP 120 SEGMENTAL INFORMATION for the year ended 30 June Polymers business unit 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Turnover Rm 14,321 15,525 11,304 9,410 7,639 7,282 6,662 6,361 5,695 4,904 4,487 Operating profit Rm 958 946 1,511 1,089 822 1,475 1,021 874 905 619
Slide 123: Solvents business unit
SASOL LIMITED GROUP 121 SEGMENTAL INFORMATION for the year ended 30 June Solvents business unit 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Turnover Rm 15,765 18,115 17,182 13,766 11,666 10,308 6,455 6,572 5,805 3,085 1,385 Operating profit Rm 1,154 495 2,382 1,106 873 1,021 113 432 783 4
Slide 124: Solvents production capacity
SASOL LIMITED GROUP 122 SEGMENTAL INFORMATION for the year ended 30 June Solvents production capacity 2010 2009 2008 Africa Europe 2010 2009 2008 Africa Europe Ketones ktpa 358 328 328 Pure alcohols ktpa 853 853 853 Acetone ktpa 175 175 175 Methanol ktpa 140 140 140 MEK ktpa 125 125 125 Etha
Slide 125: Olefins & Surfactants business unit
SASOL LIMITED GROUP 123 SEGMENTAL INFORMATION for the year ended 30 June Olefins & Surfactants (O&S) business unit 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Turnover Rm 25,283 29,534 28,780 22,582 19,095 17,096 17,382 19,833 19,383 6,682 817 Operating profit Rm 2,492 (160) 1,512 1,140 (
Slide 126: Other chemicals business unit
SASOL LIMITED GROUP 124 SEGMENTAL INFORMATION for the year ended 30 June Other chemicals business unit 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Turnover Rm 16,208 18,739 16,430 13,123 10,884 10,140 10,144 11,414 10,553 7,656 5,505 Nitro Rm 4,709 6,829 5,964 4,170 3,402 3,485 3,226 3,92
Slide 127: Calculations: EBITDA and free cash flow
SASOL LIMITED GROUP 125 CALCULATIONS for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 EBITDA Operating profit Rm 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 - - - - - - (225) (301
Slide 128: Calculations: return on equity and assets
SASOL LIMITED GROUP 126 CALCULATIONS (continued) for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 RETURN ON TOTAL SHAREHOLDERS' EQUITY Attributable earnings Rm 15,941 13,648 22,417 17,030 10,406 9,449 5,795 7,674 9,705 Shareholders' equity - current year Rm 94,730 83,835 76,47
Slide 129: Calculations: margins and net asset turnover
SASOL LIMITED GROUP 127 CALCULATIONS (continued) for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 GROSS MARGIN Turnover 122,256 137,836 129,943 98,127 82,395 69,239 60,151 64,555 59,590 Cost of sales (79,183) (88,508) (74,634) (59,997) (48,547) (42,250) (38,794) (39,347) (34,8
Slide 130: Calculations: net working capital to turnover
SASOL LIMITED GROUP 128 CALCULATIONS (continued) for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 NET WORKING CAPITAL TO TURNOVER * Turnover 122,256 137,836 129,943 98,127 82,395 69,239 60,151 64,555 59,590 Net working capital * 18,749 15,444 27,209 17,045 16,918 12,612 10,690
Slide 131: Calculations: effective tax rate and liabilities to equity
SASOL LIMITED GROUP 129 CALCULATIONS (continued) for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 EFFECTIVE TAX RATE Taxation 6,985 10,480 10,129 8,153 6,534 4,573 3,175 4,007 4,905 Net income before tax 23,372 24,195 33,657 25,703 17,116 14,132 9,036 11,769 14,648 Effective t
Slide 132: Calculations: debt coverage and current ratio
SASOL LIMITED GROUP 130 CALCULATIONS (continued) for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 DEBT COVERAGE * Cash generated by operating activities 27,338 48,187 34,740 28,432 24,535 18,902 15,151 15,997 19,457 Total borrowings 15,772 18,457 20,092 19,525 18,266 18,746 16
Slide 133: Calculations: market capitalisation
SASOL LIMITED GROUP 131 CALCULATIONS (continued) for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 MARKET CAPITALISATION Number of shares at end of period (before repurchase) millions 667.7 665.9 676.7 627.7 683.0 676.9 671.3 668.8 666.9 Closing share price at end of period (JS
Slide 134: Calculations: price to earnings and enterprise value
SASOL LIMITED GROUP 132 CALCULATIONS (continued) for the year ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 PRICE TO EARNINGS Closing market price at 30 June Rand 275 270 461 266 275 181 96 84 110 Earnings per share Rand 26.68 22.90 37.30 27.35 16.78 15.39 9.50 12.59 15.84 Rm Rm Rm Rm R
Slide 135: Calculations: EV/EBITDA
SASOL LIMITED GROUP 133 CALCULATIONS (continued) for the years ended 30 June 2010 2009 2008 2007 2006 2005 2004 2003 2002 EV/EBITDA * Enterprise value 186,764 181,194 330,137 182,158 202,937 138,869 79,168 67,321 81,496 EBITDA 30,649 30,911 39,028 29,643 21,488 18,468 14,189 16,290 18,737 Operating
Slide 136: Glossary
SASOL LIMITED GROUP 134 GLOSSARY Attributable 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 th
Slide 137: Glossary (continued)
SASOL LIMITED GROUP 135 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