Sasol South Africa Annual Financial Statements 2020
Sasol South Africa Annual Financial Statements 20201
Sasol South Africa LimitedRegistration number 1968/013914/06Annual Financial Statementsfor the year ended 30 June 2020ContentsPageReport of the Audit Committee3Certificate of the Company Secretary5Directors’ report6Independent auditors’ report7Income statements9Statements of comprehensive income9Statements of financial position10Statements of changes in equity11Statements of cash flows13Notes to the financial statements14Preparers of the Annual Financial StatementsThe Annual Financial Statements of Sasol South Africa Limited have been audited in compliance with section 30 of the South AfricanCompanies Act. Ms Amelia van den Berg CA(SA), Vice President: Statutory Reporting and Mr Christo Nel CA(SA), Senior Manager Finance:Sasol South Africa Limited, are responsible for this set of financial statements and have supervised the preparation thereof inconjunction with Ms Tintswalo Mohlakoana CA(SA), Senior Accountant: Sasol South Africa Limited.2Sasol South Africa Annual Financial Statements 2020
Report of the Audit CommitteeThe Committee has the honour of presenting its financial year 2020 Audit Committee report.This report has been prepared for Sasol South Africa Limited (the Company), a subsidiary within the Sasol group, and is based on therequirements of the South African Companies Act, 71 of 2008 as amended (the Companies Act), the King IV Report on CorporateGovernance for South Africa 2016 (King IV), applicable regulatory requirements and the terms of reference of the Audit Committee (theCommittee).Composition and meetingsThe members of the Committee consist of Messrs C Beggs, S Westwell and Mss GMB Kennealy, NNA Matyumza and KC Harper.Mr MJN Njeke resigned as Committee member effective 27 November 2019 and Ms KC Harper was appointed as Committee membereffective 1 April 2020.All the members of the Audit Committee are independent non-executive directors. They are financially literate and most have extensiveaudit committee experience. We believe that the experience of the Committee members gives perspective and insight to theCommittee’s considerations and decisions.The Committee met five times during the financial year and all committee members attended every meeting.Statutory duties and functionsThe Committee is constituted as a statutory committee of Sasol Limited in line with the Companies Act and accountable in this regardto both the Board and Sasol’s shareholders. The Committee also acts as the audit committee for certain South African companies withinthe Sasol group. Oversight of the following specific matters has been delegated to the Committee: quality and integrity of Sasol Limited’s integrated reporting, including its financial statements and public announcements inrespect of the financial results; overseeing the appointment, remuneration, independence and performance of the external auditor and the integrity of theaudit process as a whole, including the approval of non-audit services by the external auditor; effectiveness of the Sasol group’s internal audit function, the Sasol group’s finance function, Sasol’s internal financial controlsand systems of internal control and risk management; effectiveness of the group’s internal controls and internal audit function; regarding internal controls over financial reporting management has determined that the Sasol group’s as well as Company’sinternal control over financial reporting were ineffective as a material weakness was identified in relation to the impairmentperformed within one segment/cash generating unit of the Sasol group and Company. A material weakness is a deficiency, orcombination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that amaterial misstatement of financial statements will not be prevented or detected on a timely basis. Notwithstanding thematerial weakness, the Committee believes that the Sasol South Africa Limited consolidated and separate annual financialstatements present fairly, in all material respects, the Group and Company’s financial position, results of operations and cashflows as of and for the periods presented in accordance with International Financial Reporting Standards (IFRS), as issued bythe International Accounting Standards Board (IASB); compliance with legal and regulatory requirements to the extent that might have an impact on financial statements; and Systems in place to enable concerns to be raised by Sasol employees about possible improprieties in financial reporting orother issues and for those matters to be investigated.The Committee fulfilled all its statutory duties as required by section 94(7) of the Companies Act.Adequate processes and structures have been implemented to assist the Audit Committee in providing oversight and ensuring theintegrity of financial reporting, internal control and other governance matters relating to subsidiaries. The Combined Assurance andDisclosure Committee, a sub-committee of the Group Executive Committee, provides management oversight, assurance and alignmenton group-wide, high risk activities and is responsible for ensuring that the information publicly disclosed complies with requirements ofthe Johannesburg Stock Exchange, New York Stock Exchange and the US Securities Exchange Commission rules. Material matters ofconcern are also reported to the Audit Committee.In satisfying its duties, the Committee in particular: Considered legal and regulatory compliance requirements to the extent that they might have an impact on financialstatements and reviewed the internal control environment.The Committee is of the opinion that there were no material breakdowns in internal control during the 2020 financial year,except for the material weakness in the Company’s internal control over financial reporting noted above. Considered the going concern assumption as the basis of preparation of the Annual Financial Statements.After examining the evidence provided to support the conclusion, the Committee concluded that the Company’s liquidity andcapital position for the foreseeable future was adequate and that the going concern basis could be applied.The Committee noted the emphasis of matter relating to going concern,that the external auditors have raised in their auditreport. Relied on management, the external auditor, internal audit as well as the Sasol Limited group’s independent ethics reportingtelephone line to highlight any concerns, complaints or allegations relating to internal financial controls, the content of thefinancial statements and potential violations of the law or questionable accounting or auditing practices. Separate meetingsare also held with management, the external auditor and internal audit every quarter.Sasol South Africa Annual Financial Statements 20203
The Committee is satisfied with the reporting process and confirms that no significant concerns or complaints were raisedduring the financial year under review.Nominated for appointment PricewaterhouseCoopers Inc (PwC) as auditor of Sasol Limited and the group for the financialyear ended 30 June 2020 in line with the requirements of the Act and any other legislation relating to the appointment ofauditors. The Committee is satisfied that PwC and the designated auditor are qualified and independent of the Company and the Sasolgroup.Reviewed and approved the external audit plan, the budgeted and final fee for the reporting period and the terms ofengagement of the external auditors. Appropriate controls are in place to manage the provision of non-audit services by theexternal auditor and the Committee also determined, subject to the provisions of the Companies Act, the nature and extent ofany non-audit services which PwC may provide and pre-approved all audit and permissible non-audit services that PwCprovides. The quality of the external audit process was reviewed and the Committee concluded it to be satisfactory. It was confirmedthat no unresolved issues of concern exist between the Sasol group and the external auditors. Reviewed the assurance services charter and approved the integrated three year rolling internal audit plan. The Committeealso evaluated the independence, effectiveness and performance of the internal audit function and compliance with its charterand found them to be satisfactory. Reviewed the Sasol group’s policies on risk assessment and management as they pertain to financial reporting and foundthem to be sound. The Committee also considered fraud risks and controls.The Committee also considered the plans and outputs of the external and internal auditors and concluded that they wereadequate to address all significant financial risks facing the business.The Committee is also satisfied with the appropriateness of the expertise and experience of the Chief Financial Officer of Sasol Limitedand the expertise, resources, succession plans and experience of Sasol’s finance functions.ConclusionThe Committee is satisfied that it has complied with all its statutory and other responsibilities. Having had regard to all material risksand factors that may impact on the integrity of the Company’s annual financial statements, the Committee recommends the annualfinancial statements of Sasol South Africa Limited for the year ended 30 June 2020 for approval to the Board.On behalf of the Audit CommitteeColin BeggsChairman of the Audit Committee17 August 20204Sasol South Africa Annual Financial Statements 2020
Certificate of the Company SecretaryIn my capacity as the company secretary, I hereby confirm, in terms of the South African Companies Act, No. 71 of 2008, as amended,that for the year ended 30 June 2020 Sasol South Africa Limited has lodged with the Registrar of Companies all such returns as arerequired of a public company in terms of this Act, and that all such returns are, to the best of my knowledge and belief, true, correct andup to date.MML MokokaDate: 10 September 2020Sasol South Africa Annual Financial Statements 20205
Directors’ reportThe directors have pleasure in presenting their report for the year ended 30 June 2020.Nature of businessThe main business of the company is focused on integrated petro-chemicals; energy and all such other things as may be considered tobe incidental or conducive to the attainment and support of the main business. The principal activities of the company have remainedunchanged during the year.Share capitalThe authorised and issued share capital of the company remained unchanged during the year.DirectorsThe directors in office during the year were:VD Kahla (Chairman)BSM BackmanB BaijnathT BooleyRM LaxaPN MagaqaCK MokoenaZ MonnakgotlaG NndwammbiMS SolomonET StouderLB Zondoappointed 16/03/2012appointed 08/08/2019appointed 01/03/2017appointed 01/06/2018appointed 14/11/2014appointed 01/06/2018appointed 01/06/2018appointed 08/08/2018appointed 03/05/2019appointed 01/06/2018appointed 01/06/2018 and resigned 31/10/2019appointed 01/06/2018AuditorsPricewaterhouseCoopers Inc. (PwC) was the external auditor of Sasol South Africa Limited and its significant subsidiaries for thefinancial year ended 30 June 2020.Going concernBased on the going concern assessment (refer to note 40), the Board is of the view that the group and company have adequateresources to continue in operation for the foreseeable future and accordingly, the annual financial statements have been prepared on agoing concern basis. The Board is not aware of any new material changes that may adversely impact the group and company other thanthose disclosed in the going concern note to the financial statements. The Board is not aware of any material non-compliance withstatutory or regulatory requirements. The Board is not aware of any pending changes in legislation in any of the major countries inwhich it operates that may affect the company and group.Subsequent eventOn 10 September 2020, Sasol South Africa Limited (SSA) announced that it had signed an exclusive negotiation agreement with AirLiquide Large Industries South Africa Proprietary Limited (Air Liquide) for the sale of sixteen air separations units and associatedbusiness located in Secunda (refer note 39).Company secretaryThe company secretary of Sasol South Africa Limited is Ms MML Mokoka and her official addresses are:Postal addressPrivate Bag X10014Sandton2196South AfricaPhysical address50 Katherine StreetSandton2090South AfricaRegistered officeThe registered office addresses of the company are:Postal addressPrivate Bag X10014Sandton2196South AfricaPhysical address50 Katherine StreetSandton2090South AfricaApproval of the annual financial statementsThe group and company annual financial statements for the year ended 30 June 2020 as set out on pages 9 to 75 were approved by theboard of directors on 10 September 2020 and are signed on its behalf by:Director6Sasol South Africa Annual Financial Statements 2020Director
Independent auditors’ reportTo the Shareholders of Sasol South Africa LimitedOur opinionIn our opinion, the consolidated and separate financial statements present fairly, in all material respects, the consolidated and separatefinancial position of Sasol South Africa Limited (the Company) and its subsidiaries (together the Group) as at 30 June 2020, and itsconsolidated and separate financial performance and its consolidated and separate cash flows for the year then ended in accordancewith International Financial Reporting Standards and the requirements of the Companies Act of South Africa.What we have auditedSasol South Africa Limited’s consolidated and separate financial statements set out on pages 9 to 75 comprise: the consolidated and separate statements of financial position as at 30 June 2020; the consolidated and separate income statements for the year then ended; the consolidated and separate statements of comprehensive income for the year then ended; the consolidated and separate statements of changes in equity for the year then ended; the consolidated and separate statements of cash flows for the year then ended; and the notes to the financial statements, which include a summary of significant accounting policies.Basis for opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards arefurther described in the Auditor’s responsibilities for the audit of the consolidated and separate financial statements section of ourreport.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the Independent Regulatory Board for Auditors’ Code of Professional Conduct forRegistered Auditors (IRBA Code) and other independence requirements applicable to performing audits of financial statements in SouthAfrica. We have fulfilled our other ethical responsibilities in accordance with the IRBA Code and in accordance with other ethicalrequirements applicable to performing audits in South Africa. The IRBA Code is consistent with the corresponding sections of theInternational Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including InternationalIndependence Standards).Material uncertainty relating to going concernWe draw attention to Note 40 in the consolidated and separate financial statements, which indicates that the Group’s and Company’sability to meet obligations as they become due is dependent on the Sasol Limited central treasury function to manage pooled businessunit cash investments as well as the ability of the Sasol Limited Group and Sasol Limited Company to meet debt covenant requirementsat 31 December 2020 and 30 June 2021 and repay debt as it becomes due. As stated in Note 40, these events or conditions, along withother matters as set forth in Note 40, indicate that a material uncertainty exists that may cast significant doubt on the Group’s andCompany’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.Other InformationThe directors are responsible for the other information. The other information comprises the information included in the documenttitled “Sasol South Africa Limited Annual Financial Statements 30 June 2020”, which includes the Report of the Audit Committee, theDirectors’ Report and the Certificate of the Company Secretary as required by the Companies Act of South Africa. The other informationdoes not include the consolidated or the separate financial statements and our auditor’s report thereon.Our opinion on the consolidated and separate financial statements does not cover the other information and we do not express anaudit opinion or any form of assurance conclusion thereon.In connection with our audit of the consolidated and separate financial statements, our responsibility is to read the other informationidentified above and, in doing so, consider whether the other information is materially inconsistent with the consolidated and separatefinancial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are requiredto report that fact. We have nothing to report in this regard.Responsibilities of the directors for the consolidated and seperate financial statementsThe directors are responsible for the preparation and fair presentation of the consolidated and separate financial statements inaccordance with International Financial Reporting Standards and the requirements of the Companies Act of South Africa, and for suchinternal control as the directors determine is necessary to enable the preparation of consolidated and separate financial statementsthat are free from material misstatement, whether due to fraud or error.In preparing the consolidated and separate financial statements, the directors are responsible for assessing the Group and theCompany’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the goingconcern basis of accounting unless the directors either intend to liquidate the Group and/or the Company or to cease operations, orhave no realistic alternative but to do so.Sasol South Africa Annual Financial Statements 20207
Auditor’s responsibilities for the audit of the consolidated and seperate financial statementsOur objectives are to obtain reasonable assurance about whether the consolidated and separate financial statements as a whole arefree from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonableassurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect amaterial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in theaggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidatedand separate financial statements.As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional scepticism throughout theaudit. We also: Identify and assess the risks of material misstatement of the consolidated and separate financial statements, whether due tofraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higherthan for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or theoverride of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate inthe circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s and the Company’sinternal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and relateddisclosures made by the directors. Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the auditevidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt onthe Group’s and the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we arerequired to draw attention in our auditor’s report to the related disclosures in the consolidated and separate financialstatements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidenceobtained up to the date of our auditor’s report. However, future events or conditions may cause the Group and / or Companyto cease to continue as a going concern. Evaluate the overall presentation, structure and content of the consolidated and separate financial statements, including thedisclosures, and whether the consolidated and separate financial statements represent the underlying transactions andevents in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within thegroup to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision andperformance of the group audit. We remain solely responsible for our audit opinion.We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant auditfindings, including any significant deficiencies in internal control that we identify during our audit.PricewaterhouseCoopers Inc.Director: EPV BerghRegistered AuditorJohannesburg10 September 20208Sasol South Africa Annual Financial Statements 2020
Income statementsfor the year ended 30 JuneTurnoverMaterials, energy and consumables usedSelling and distribution costsMaintenance expenditureGroup20202019RmRm88 02895 222(38 346)(36 029)(2 846)(2 764)(5 324)(5 584)Company20202019RmRm84 76191 985(43 911)(40 835)(2 846)(2 758)(5 160)(5 443)77(14 545)(193)(11 179)(4 084)964(5 048)2911 540(42 608)(31 068)937(2 739)(15 045)(206)(11 531)(6 315)(125)(6 190)4417 792(5 907)11 885786(2 764)(14 175)(193)(8 116)(3 469)890(4 359)96 900(37 377)(30 477)4 608(2 426)(14 664)(206)(8 700)(5 740)(104)(5 636)813 647(8 286)5 3613 542(2 371)11(32 870)8 8739 907(1 552)(28 295)8 7736 532354(23 997)8 355(19 522)6 886(24 629)7 596(19 522)6 886Note23Employee-related expenditureExploration expenditure and feasibility costsDepreciation and amortisationOther expenses and incomeTranslation gains/(losses)Other operating expenses and incomeEquity accounted profits, net of taxOperating profit before remeasurement itemsRemeasurement items(Loss)/Earnings before interest and tax ((LBIT)/EBIT)Finance incomeFinance costs456228(Loss)/Earnings before taxTaxation(Loss)/Earnings for the yearAttributable toOwners of Sasol South Africa LimitedNon-controlling interests in subsidiaries632(23 997)759-8 355(19 522)6 886Statements of comprehensive incomefor the year ended 30 JuneGroup2020RmCompany2020Rm(Loss)/Earnings for the yearOther comprehensive income, net of taxItems that can be subsequently reclassified to the income statementEffect of cash flow hedgesTax on items that can be subsequently reclassified to the incomestatementItems that cannot be subsequently reclassified to the incomestatementRemeasurement on post-retirement benefit obligationTax on items that cannot be subsequently reclassified to the incomestatement(23 997)2019Rm8 355(19 522)2019Rm6 314842311(238)(88)(236)(87)Total comprehensive (loss)/income for the year(23 386)8 580(18 916)7 109Attributable toOwners of Sasol South Africa Limited(24 018)7 821(18 916)7 109Non-controlling interests in subsidiaries632(23 386)The notes on pages 14 to 75 are an integral part of the Annual Financial Statements.7598 580(18 916)7 109Sasol South Africa Annual Financial Statements 20209
Statements of financial positionat 30 ty, plant and equipmentAssets under constructionRight of use assetsGoodwill and other intangible assetsEquity accounted investmentsOther long-term investmentsInvestment in subsidiaries and joint venturesPost-retirement benefit assetsLong-term receivables and prepaid expensesNon-current assets171819202243 46215 7926 16013 959778644–35369581 84376 49016 783–34 022283––409706128 69316 25915 5245 9841 08952325248 40435310388 49156 67016 489–1 10810–48 187409385123 258InventoriesTax receivableTrade and other receivablesShort-term financial assetsCash and cash equivalentsCurrent assets24122510 01752713 840–5 75930 14310 46210115 829110 29036 6839 94452013 488–2 53126 48310 41610115 18916 56632 27310 800122 7861 229166 6055 669120 6431 229156 76016 7551 60218 35747 0211 70948 73028 248–28 24853 418–53 41860 2286 9305 4292 568942 1308 91486 29365 1253 6486 8213 320205–19 92999 04859 9996 6985 0082 560942 12326176 74363 3313 6486 3553 306205–8 58485 4293 55477920110 8792505315 7164 83796616912 40958–18 4393 472775–11 0732504515 6153 720962–12 78657–17 5252 420122 786388166 60537120 643388156 760AssetsAssets in disposal groups held for saleTotal assets2334212810Equity and liabilitiesShareholders' equityNon-controlling interestsTotal equityLong-term debtLease liabilities*Long-term provisionsPost-retirement benefit obligationsLong-term deferred incomeLong-term financial liabilities**Deferred tax liabilitiesNon-current liabilitiesShort-term debt***Short-term provisionsTax payableTrade and other payablesShort-term deferred incomeShort-term financial liabilitiesCurrent liabilitiesLiabilities in disposal groups held for saleTotal equity and liabilities15163234411333122610*2019 includes finance leases under IAS 17.** Mainly relates to the embedded derivative contained in the long-term oxygen supply contract to our Secunda Synfuels Operations.*** Includes short-term portion of long-term debt and lease liabilities.The notes on pages 14 to 75 are an integral part of the Annual Financial Statements.10Sasol South Africa Annual Financial Statements 2020
Statement of changes in equityfor the year ended 30 JuneGroupRemeasurementon postOther ymentreserveNote 14Rm68 834–Note 9911 053(62)–Retained(losses)/earningsTotalequityRm41 434(940)Rm1 941–Rm43 ––––––9911 053(62)–––9911 ��7 5967 5967 8217 5967597598 5808 355––––(1)–226––(3 004)225(3 004)–(991)225(3 995)––––(3 300)(3 300)(991)(4 291)––––296296–296Balance at 30 June 2019Adjustment on initial application ofIFRS 16, net of tax***Restated balance at beginning ofperiodMovement in Incentives schemeslong-term incentives vested andsettledshare incentives schemesdistributions*Movement in share-based paymentreserveshare-based payment expensedeferred taxTotal comprehensive (loss)/incomefor the year(loss)/profitother comprehensive income forthe yearDividends paidDividends declaredNotional portion of dividendsdeclared68 8341 4338310 (23 564)47 0211 70948 730–––(290)(290)–(290)68 834–1 433(353)8–310 (23 854)–(297)46 731(650)1 709–48 )(650)–(650)–––1 2471 254(7)–––––––––1 2471 254(7)–––1 2471 254(7)––––––611 (24 629) (24 018)– (24 629) (24 629)–––––––––611–––(6 555)(7 200)611(6 555)(7 200)–(739)(739)611(7 294)(7 939)––––645645–645Balance at 30 June 202068 8342 3278921 (55 335)16 7551 60218 357Balance at 30 June 2018Movement in Incentives schemeslong-term incentives vested andsettledshare incentives schemesdistributions*Movement in share-based paymentreserveshare-based payment expensedeferred taxRetained earnings of newly controlledentity**Total comprehensive income/(loss)for the yearprofitother comprehensiveincome/(loss) for the yearDividends paidDividends declaredNotional portion of dividendsdeclared******RmRm84 (28 296)–(579)ShareNonholders' controllingequityinterests–632 (23 386)632 (23 997)Distributions in accordance with Khanyisa Tier 1 scheme of R394 million (2019 - R408 million), refer note 36.2 and long-term incentive scheme of R256million (2019 - R532 million), refer note 36.3.Sasol South Africa Limited obtained effective control over the governance activities of Siyakha Enterprise and Supplier Development Trust (Siyakha).Sasol South Africa Limited consolidated Siyakha in accordance with IFRS 10. Refer note 23.The adjustment on initial application of IFRS 16 'Leases' relates to the derecognition of the IAS 17 finance lease of Oxygen Train 17 and the recognitionof the embedded derivative in the Oxygen Train 17 agreement with Air Liquide. Refer to note 1 for the impact of the adoption of IFRS 16.The notes on pages 14 to 75 are an integral part of the Annual Financial Statements.Sasol South Africa Annual Financial Statements 202011
Statement of changes in equityfor the year ended 30 JuneCompanyRemeasurementon postOther ymentreserveBalance at 30 June 2018Movement in Incentives schemeslong-term incentives vested and settledshare incentives schemes distributions*Movement in share-based payment reserveshare-based payment expensedeferred taxTotal comprehensive income/(loss) for the yearprofitother comprehensive income/(loss) for the yearDividends paiddividends declarednotional portion of dividends declaredNote 14Rm68 834––––––––––––Note 36Rm787(348)(348)–9571 ��(1)–––Balance at 30 June 2019Adjustment on initial application of IFRS 16, net of tax**Restated balance at beginning of periodMovement in Incentives schemeslong-term incentives vested and settledshar
Annual Financial Statements for the year ended 30 June 2020 Contents Report of the Audit Committee Page Certificate of the Company Secretary 3 Directors’ report 5 Independent auditors’ report 6 Income statements 7 Statements of comprehensive income 9 Statements of financial position 9 Statements of cha
NACOL Sasol Germany GmbH Pure cuts of linear alcohols C 6 to C 22 Brunsbüttel NAFOL Sasol Germany GmbH Blends of linear alcohols C 8 to C 28 . www.sasol.com Sasol Chemicals Performance Solutions Anckelmannsplatz 1, 20537 Hamburg, Germany info@de.sasol.com Telephone 49 40 63684-1000 Italy
Sasol Performance Chemicals Wax Division Worthdamm 13–27 20457 Hamburg, Germany industrial.waxes@de.sasol.com www.sasol.com Global Contacts Europe 49 40 78115 0 wax@de.sasol.com North America 1 510 232 8704 wax@us.sasol.com Latin America 55 11 4612 8199 wax@us.sasol.com 55 11 2898 9768
Sasol Performance Chemicals Organics Division Anckelmannsplatz 1, 20537 Hamburg, Germany info@de.sasol.com Telephone 49 40 63684 1000 Fax 49 40 63684 3700 www.sasol.com Italy sasol.italy@it.sasol.com Telephone 39 025 8453-1 Fax 39 025 8453-285 Spain/Portugal carlos.cabeza@de.sasol.com Telephone 34 934 876 092 Fax 34 934 876 485
www.sasol.com Sasol Performance Chemicals Organics Division Anckelmannsplatz 1, 20537 Hamburg, Germany info@de.sasol.com Telephone 49 40 63684-1000 Fax 49 40 63684-3700 Italy sasol.italy@it.sasol.com Telephone 39 025 8453-1 Fax 39 025 8453-285 Spain/Portugal carlos.cabeza@de.sasol.com Telephone 34 934 876 092 Fax 34 934 876 485
Sasol Performance Chemicals Anckelmannsplatz 1, 20537 Hamburg, Germany info@de.sasol.com Telephone 49 40 63684 1000 Fax 49 40 63684 3700 Organics Division Anckelmannsplatz 1, 20537 Hamburg, Germany pica@de.sasol.com www.sasol.com Wax Division Worthdamm 13–27, 20457 Hamburg, Germany wax@de.sasol.com t o r,, s A 7 GB)
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Sasol Two Synfuels and Chemicals complex is completed. 1980 2003 Sasol lists on the New York Stock Exchange in Ownership reaches the United States. 2004 First natural gas from Mozambique arrives in Secunda through the Cross border pipeline. 2007 Oryx Qatar on stream 2009 Sasol forms JV for GTL in Uzbekistan 2010 Sasol Mining’s BBBEE over 40%.
sasol at a glance . 1 Financial year 2011 Turnover US 20bn. 1 Market cap US 30bn Listed on JSE (SOL) and NYSE (SSL) Present in 38 countries 34 000 employees world-wide Sasol is an integrated energy and chemicals company World’s largest producer of synthetic fuels - Pioneer in gas-to-liquids (GTL) and coal-to-liquids (CTL) technology
