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Sasol - Audited group results and declaration of dividend number 52 of

Release Date: 12/09/2005 07:05:01      Code(s): SOL
Sasol - Audited group results and declaration of dividend number 52 of          
        Sasol Limited for the year ended 30 June 2005                           
Sasol Limited                                                                   
(Incorporated in South Africa)                                                  
(Registration number: 1979/003231/06)                                           
ISIN Code: ZAE000006896                                                         
Share Code: JSE: SOL    NYSE Code: SSL                                          
Record headline earnings                                                        
Most businesses achieve commendable improvements                                
Total dividend increased by 20% to R5,40 per share                              
Gearing improves to 38%. Capital expenditure of R13,2 billion, with nearly R10  
billion (75%) invested in South Africa                                          
Contribution to economic wealth of South Africa increases by 22% to R21,5       
Sasol"s international credit rating upgraded                                    
2004       2005                              2005        2004                   
   Turnover                                  Operating profit                   
                    Business unit                                               
R million      (before capital items)        R million                     
1 083      1 471    Mining                   1 224       1 177                  
1 329      820      Synfuels                 7 670       5 515                  
18 554     23 525   Liquid Fuels Business    1 963       1 429                  
1 389      1 408    Gas                      932         387                    
7          -        Synfuels International   (232)       (138)                  
17 133     18 040   Olefins and Surfactants  562         (46)                   
6 576      7 199    Polymers                 1 496       971                    
5 956      8 063    Solvents                 1 625       135                    
8 124      8 713    Other                    541         (89)                   
60 151     69 239                            15 781      9 341                  
                    Effect of capital items  (1 275)     (27)                   
14 506      9 314                  
2004       2005                              2005        2004                   
   Turnover                                  Operating profit                   
     R million      Geographic analysis          R million                      
28 954     35 395   South Africa             12 236      8 505                  
3 062      2 553    Rest of Africa           536         204                    
15 632     17 145   Europe                   1 486       591                    
                    Middle East,  India,                                        
3 509      3 840    Far East                 389         277                    
7 060      8 149    North America            (221)       (303)                  
723        760      South America            (5)         4                      
1 211      1 397    Southeast Asia           85          36                     
60 151     69 239                            14 506      9 314                  
Balance sheet at 30 June                                                        
                                             2005        2004                   
                                             Rm          Rm                     
Property, plant and equipment                56 550      46 858                 
Goodwill (net of negative goodwill in 2004)  509         92                     
Intangible assets                            1 900       2 236                  
Post-retirement benefit assets               300         239                    
Deferred tax assets                          409         306                    
Other long-term assets                       2 212       1 877                  
Non-current assets                           61 880      51 608                 
Investments held-for-sale                    41          -                      
Inventories                                  9 995       8 292                  
Trade and other receivables                  12 384      10 971                 
Short-term financial assets                  178         25                     
Restricted cash                              1 002       527                    
Cash                                         2 509       2 063                  
Current assets                               26 109      21 878                 
TOTAL ASSETS                                 87 989      73 486                 
EQUITY AND LIABILITIES                                                          
Shareholders" equity                         43 530      35 027                 
Minority interest                            256         373                    
Long-term debt                               12 951      9 110                  
Long-term provisions                         2 954       2 362                  
Post-retirement benefit obligations          2 970       2 724                  
Long-term deferred income                    763         237                    
Deferred tax liability                       6 286       5 768                  
Non-current liabilities                      25 924      20 201                 
Short-term debt                              3 300       3 265                  
Short-term financial liabilities             792         1 205                  
Other current liabilities                    11 572      9 302                  
Bank overdraft (including overnight                                             
borrowings)                                  2 615       4 113                  
Current liabilities                          18 279      17 885                 
TOTAL EQUITY AND LIABILITIES                 87 989      73 486                 
Income statement for the year ended 30 June                                     
                                             2005        2004                   
                                             Rm          Rm                     
Turnover                                     69 239      60 151                 
Cost of sales and services rendered          (42 267)    (38 794)               
Gross profit                                 26 972      21 357                 
Non-trading income                           417         343                    
Marketing and distribution expenditure       (5 097)     (4 920)                
Administrative expenditure                   (4 075)     (3 744)                
Other operating expenditure                  (3 802)     (2 687)                
Translation gains/(losses)                   91          (1 035)                
Operating profit                             14 506      9 314                  
Dividends and interest received              149         190                    
Income from associates                       184         117                    
Borrowing costs (net of amounts capitalised) (587)       (439)                  
Net income before tax                        14 252      9 182                  
Taxation                                     (4 568)     (3 175)                
Earnings                                     9 684       6 007                  
Attributable to                                                                 
Shareholders                                 9 573       5 940                  
Minority interests in subsidiaries           111         67                     
                                             9 684       6 007                  
Basic earnings per share (cents)                                                
- attributable earnings basis                1 560       974                    
- headline earnings basis                    1 749       934                    
Diluted earnings per share (cents)1                                             
- attributable earnings basis                1 533       964                    
- headline earnings basis                    1 719       925                    
Dividends per share (cents)                                                     
- interim                                    230         215                    
- final                                      310         235                    
                                             540         450                    
1 Taking the Sasol Share Incentive Scheme into account.                         
2 Declared subsequent to 30 June 2005 and has been presented for information    
purposes only. No provision regarding this final dividend has been recognised.  
Changes in equity statement (condensed) for the year ended 30 June              
2005        2004                   
                                             Rm          Rm                     
Opening balance                              35 027      33 518                 
Negative goodwill written off                610         -                      
Shares issued                                311         109                    
Shares repurchased                           -           (33)                   
Attributable earnings                        9 573       5 940                  
Dividends paid                               (2 856)     (2 745)                
Increase/(decrease) in foreign currency                                         
translation reserve                          313         (1 217)                
Increase/(decrease) in cash flow hedge                                          
accounting reserve                           552         (545)                  
Closing balance                              43 530      35 027                 
Share capital                                3 203       2 892                  
Share repurchase programme                   (3 647)     (3 647)                
Accumulated earnings                         45 643      38 236                 
Foreign currency translation reserve         (1 336)     (1 569)                
Investment fair value reserve                2           2                      
Cash flow hedge accounting reserve           (335)       (887)                  
Shareholders" equity                         43 530      35 027                 
Cash flow statement (condensed) for the year ended 30 June                      
                                             2005        2004                   
                                             Rm          Rm                     
Cash receipts from customers                 68 263      59 952                 
Cash paid to suppliers and employees         (49 451)    (44 801)               
Cash generated by operating activities       18 812      15 151                 
Investment income                            169         230                    
Borrowing costs paid                         (1 523)     (1 384)                
Dividends paid                               (2 856)     (2 745)                
Tax paid                                     (3 753)     (3 963)                
Cash available from operating activities     10 849      7 289                  
Additions to property, plant and equipment*  (12 414)    (10 888)               
Acquisition of businesses                    -           (555)                  
Cash acquired on acquisition of businesses   -           163                    
Disposal of businesses                       36          283                    
Cash disposed of on disposal of businesses   (94)        (2)                    
Other net cash flows from investing                                             
activities                                   245         (29)                   
Cash utilised in investing activities        (12 227)    (11 028)               
Share capital issued                         311         109                    
Share repurchase programme                   -           (33)                   
Dividends paid to minority shareholders      (64)        (37)                   
Contributions from minority shareholders     -           75                     
Increase in long-term debt                   4 165       4 386                  
Decrease in short-term debt                  (440)       (2 616)                
Cash effect of financing activities          3 972       1 884                  
Effect of translation on cash of foreign                                        
entities                                     (175)      (251)                   
Increase/(decrease) in cash and cash                                            
equivalents                                  2 419       (2 106)                
Cash and cash equivalents at beginning                                          
of year                                      (1 523)     583                    
Cash and cash equivalents  at end of year    896         (1 523)                
- restricted cash                            1 002       527                    
- cash                                       2 509       2 063                  
- bank overdraft                             (2 615)     (4 113)                
                                             896         (1 523)                
*After taking the effect of cash flow hedge accounting on foreign exchange      
contracts (R0,6 billion) into account.                                          
Record headline earnings                                                        
Attributable earnings increased by 61% from R5,9 billion to R9,6 billion.       
Headline earnings per share increased by 87% to R17,49. In US dollar terms,     
headline earnings per share of US$2,82 represent a 107% increase.               
Higher oil prices - stronger rand                                               
Operating profit increased by R5,2 billion (56%) to R14,5 billion. Higher       
average international oil prices (dated Brent US$46,17/b versus US$31,30/b in   
2004) boosted operating profit by about R2,5 billion. This benefit was partly   
offset by the adverse impact of the stronger rand during the year (average rate 
R6,21 : US$1,00 versus R6,88 : US$1,00 in 2004), which reduced operating profit 
by approximately R2,7 billion. Translation effects at year-end were, however,   
slightly positive compared to the significant adverse effects at 30 June 2004,  
resulting in a positive turnaround of R1,1 billion. The net adverse currency    
effect on operating profit amounted, therefore, to R1,6 billion, representing a 
64% reduction of the benefit derived from higher oil prices.                    
The net adverse impact of currency effects manifested themselves across all of  
Sasol"s businesses. The benefit of higher oil prices were, however, only        
realised in the energy and fuel-related businesses with adverse effects being   
experienced in the chemical businesses because of higher oil-derivative         
feedstock costs.                                                                
Our energy and fuel-related businesses achieved a 42% increase in operating     
After a few years of being depressed, international chemical prices and margins 
improved substantially. Together with the benefits of productivity improvements 
and selling or closing non-core or poor performing businesses, this resulted in 
the operating profit of our chemical businesses increasing significantly (130%),
despite higher feedstock costs and capital write-offs relating mainly to        
The effect of capital write-offs amounted to R1,3 billion (pre-tax), most of    
which arose in the chemical businesses. Significant impairments were made in    
Sasol Solvents and Sasol Olefins and Surfactants and related primarily to the n-
butanol plant at Sasolburg and the linear alkyl benzene (LAB) plant in the USA. 
In the case of the n-butanol plant, this write-off is a consequence of the      
investment having been made in previous years, when the weaker rand negatively  
impacted capital costs, and its revenue streams are now based on a much stronger
rand than originally envisaged.                                                 
Operating profit was increased by R1,3 billion as a result of changes in        
International Financial Reporting Standards (IFRS) relating to depreciation and 
goodwill. During the year, the expected remaining useful lives of our assets    
were reviewed and - as a consequence - depreciation was reduced by R1,5 billion.
This amount was reduced by R0,2 billion because of the change in the accounting 
treatment of goodwill whereby goodwill is no longer amortised over the remaining
life of the asset to which it is related, but is subject to an annual impairment
The decrease in the South African company tax rate from 30% to 29% resulted in a
reduction of the tax charge of approximately R0,3 billion.                      
Capital expenditure amounted to R13,2 billion. Major projects advanced included 
the fuel quality enhancement and polymer expansion project (Project Turbo) in   
South Africa, the Oryx gas-to-liquids (GTL) venture in Qatar and the Arya Sasol 
Polymers project in Iran.                                                       
Gearing (net debt as a percentage of shareholders" equity) reduced from 41% at  
30 June 2004 to 38% and was well within our targeted range of 30% to 50%.       
Moody"s assigned Sasol Aa3.za long-term and prime-1.za short-term South African 
national scale credit ratings.  Standard and Poor"s also upgraded Sasol"s credit
rating to BBB+ during the year.                                                 
The total dividend declared of R5,40 represents a 20% increase compared to the  
previous year. The dividend cover of 2,9 is suitably within our target range of 
2,5 to 3,5 times.                                                               
Sasol mining                                                                    
The operating profit of Sasol Mining of R1 247 million was 4% better than the   
previous year despite sales volumes being 9% lower because of the closure of the
coal-fired gasifiers at Sasolburg following the introduction of natural gas from
Sasol synfuels                                                                  
Primarily because of higher oil prices, net of the oil hedge which expired at   
the end of May 2005, Sasol Synfuels achieved an increase in operating profit of 
37% to R7 560 million. Production volumes decreased slightly (3%) because of the
adverse impact of unplanned shutdowns, which was partly offset by the benefit of
introducing natural gas to improve plant operational stability.                 
Sasol liquid fuels business                                                     
Higher refinery margins resulted in our liquid fuels business increasing        
operating profit by 33% to R1 900 million. Sales volumes transacted through     
Sasol and Exel retail fuel outlets exceeded expectations and market share       
objectives were met.                                                            
The proposed merging of our liquid fuels business with Engen was conditionally  
recommended during the year by the South African Competition Commission to the  
Competition Tribunal. The envisaged formation of the merged entity (Uhambo Oil) 
will be considered at the Competition Tribunal during October 2005. The         
announcement of our significant equity empowerment transaction in this business 
is imminent.                                                                    
Sasol gas                                                                       
Primarily driven by higher sales of natural gas both to external customers and  
Sasol businesses, operating profit increased by 141% to R932 million. Post-     
commissioning problems were experienced with the newly-installed auto thermal   
reformers in Sasolburg resulting in supply problems which have since been       
Sasol synfuels international                                                    
This business hosts the growth ambitions of the group relating to GTL and coal- 
to-liquid ventures. Its costs are associated with advancing the Qatar and       
Nigeria GTL projects and evaluating others in accordance with our strategic     
objective to build these global businesses. Costs rose to R199 million in the   
year as a direct consequence of increased activity in this respect, net of      
receipts of R33 million.                                                        
Sasol olefins and surfactants                                                   
The operating loss of Sasol Olefins and Surfactants of R221 million includes    
capital write-offs of R783 million which arose mainly because of impairments.   
The significant assets impaired include the LAB plant in the USA and the zeolite
plant in Italy. Sunk costs associated with the proposed octene-3 plant in South 
Africa have also been impaired.                                                 
Excluding these capital write-offs, the operating profit of R562 million also   
includes a net benefit of R374 million from accounting standard changes,        
resulting in an operating profit of R188 million which compares with an         
operating loss incurred in the previous year of R46 million.                    
While significantly higher oil-derivative feedstock costs were recovered through
higher selling prices, the comparable improvement in operating performance      
materialised mainly because of continuing successes in cost reductions and      
productivity improvements.                                                      
Sasol polymers                                                                  
Higher international polymer prices and margins, together with ongoing benefits 
arising from productivity improvements, offset much higher oil-derivative       
feedstock costs. Sasol Polymers achieved a pleasing 44% improvement in operating
profit to R1 484 million.                                                       
Sasol solvents                                                                  
Various plant outages experienced throughout the industry and strong            
international demand resulted in global supply shortfalls which caused          
unprecedented high solvent selling prices and margins. As a result, and aided by
the benefits of stringent cost management, Sasol Solvents increased operating   
profit from R117 million to R1 243 million after taking into account the        
impairment of n-butanol.                                                        
Other businesses                                                                
Sasol Wax experienced a slight reduction in operating profit to R212 million    
because of not being able to recover higher oil-derivative feedstock costs      
through higher selling prices, primarily in Europe because of intense           
competition from Chinese producers.                                             
Sasol Nitro had an excellent year with its operating profit increasing more than
twelve-fold to over R400 million, mainly because of improved margins and higher 
volumes in both the fertilizers and explosives businesses and non-recurring     
capital items in the previous year.                                             
Sasol Petroleum International benefited from the contribution of increased gas  
production in Mozambique and its oil revenues from off-shore West Africa. It    
achieved an operating profit of R281 million. This is the first year this       
fledgling business has been profitable. This performance augers well for the    
Profit outlook                                                                  
International oil and commodity chemical markets and prices are unstable and so 
forecasting these with confidence is not possible. Nevertheless, assuming no    
major disruptions in world currency and energy markets, we anticipate           
satisfactory growth in earnings in the year ahead.                              
Basis of preparation and accounting policies                                    
The condensed consolidated financial statements for the year ended 30 June 2005 
have been prepared in compliance with the Listings Requirements of the JSE      
Limited, IFRS and the South African Companies Act, 1973, as amended.            
The accounting policies applied in the presentation of the condensed            
consolidated financial statements are consistent with those applied for the year
ended 30 June 2004 except for the accounting treatment of goodwill and property,
plant and equipment which have been amended following the adoption of IFRS3     
Business Combinations and IAS16 Property, Plant and Equipment. The result of    
these changes is that goodwill is no longer amortised, negative goodwill at 30  
June 2004 is written off against accumulated earnings and the useful lives of   
property, plant and equipment have been reassessed resulting in an increase in  
operating profit of R1,3 billion and a related increase in earnings per share of
139 cents.                                                                      
These condensed consolidated financial statements have been prepared in         
accordance with the historic cost convention except for certain financial       
instruments which are stated at fair value.                                     
The principal reporting currency of the Sasol group is rand. This currency      
reflects the economic substance of the underlying events and circumstances of   
the group.                                                                      
Related party transactions                                                      
The group, in the ordinary course of business, enters into various sale and     
purchase transactions on an arm"s length basis at market rates with related     
Significant acquisitions and disposals of businesses                            
On 9 November 2004, Sasol Oil (Pty) Limited invested in Namibian Liquid Fuel    
(Pty) Limited (NLF). The main purpose of NLF is to supply various petroleum     
products into the Namibian market. In terms of the agreement entered into       
between the shareholders of NLF, for the 2005 financial year, Sasol effectively 
controlled this entity and was entitled to 90% of the income from this business.
NLF has accordingly been consolidated as a subsidiary for the 2005 financial    
On 24 December 2004, the group sold its investments in two South African captive
insurance companies for R17 million, which was equal to their carrying value.   
On 1 March 2005, Sasol Wax International AG underwent a restructuring. The      
result of the restructuring was the disposal of its investment in Euro Schumann 
Sasol Wax GmbH, the acquisition of 100% of the investment in Sasol Wax Danmark  
APS and an acquisition of a direct 31,25% interest in Paramelt RMC BV.          
Significant influence in this entity has been retained. This was a non-cash,    
share-for-share exchange transaction. Paramelt is reflected in the 2005 results 
as an equity accounted associate and Sasol Wax Danmark is consolidated as a     
Joint venture                                                                   
On 24 September 2004, the group disposed of its investment in Sasol Southwest   
Energy LLC for R20 million. Following an impairment charge in the prior year,   
the final disposal of the investment realised a profit of R28 million.          
During the year, the group reclassified its investment in FFS Refiners (Pty)    
Limited from an investment in associate to an investment held-for-sale as it is 
anticipated that the disposal of this entity will be completed within the next  
Post-balance sheet date events                                                  
In May 2005, the Competition Commission conditionally recommended the approval  
of the proposed joint venture between Sasol Limited and Petroliam Nasional      
Berhad of their respective liquid fuels businesses, Sasol Oil (Pty) Limited and 
Engen Limited, to be called Uhambo Oil Limited, to the Competition Tribunal.    
Public hearings are scheduled for October 2005 whereafter the Competition       
Tribunal will give its ruling.                                                  
On 1 July 2005, a 25% interest in the Republic of Mozambique Pipeline           
Investments Company (Pty) Limited was sold to iGas (Pty) Limited (owned by the  
South African Government) for R609 million realising a profit of R189 million.  
On 1 August 2005, Sasol announced that it is considering the divestment from its
Olefins and Surfactants business including its Safol plant but excluding its co-
monomers activities in South Africa. The potential divestment is subject to an  
acceptable selling price being attained.                                        
Principal foreign currency conversion rates                                     
One unit of foreign currency equals:    30 June 2005    30 June 2004            
     Rand/US$ (closing - at end of year)    6,67            6,62                
Rand/US$ (average - for the year)      6,21            6,88                
     Rand/euro (closing - at end of year)   8,07            7,57                
     Rand/euro (average - for the year)     7,89            8,19                
Independent audit by KPMG Inc                                                   
The group"s condensed consolidated financial statements have been derived from  
the audited consolidated financial statements at 30 June 2005 and for the year  
then ended. Our auditors, KPMG Inc, have audited the consolidated financial     
statements in accordance with International Standards on Auditing. A copy of    
their unqualified audit report is available for inspection at the registered    
office of Sasol Limited.                                                        
Declaration of dividend number 52                                               
The directors of Sasol Limited have declared a final dividend of 310 cents per  
share (2004: 235 cents per share) for the year ended 30 June 2005. The dividend 
has been declared in the currency of the Republic of South Africa. The salient  
dates are:                                                                      
To holders of ordinary shares                                                   
Last day for trading to qualify for and                                         
participate in the dividend (cum dividend)   Friday, 7 October 2005             
Trading ex dividend commences                Monday, 10 October 2005            
Record date                                  Friday, 14 October 2005            
Dividend payment date (electronic and                                           
certificated register)                       Monday, 17 October 2005            
On 17 October 2005, dividends due to certificated shareholders on the South     
African Registry will either be electronically transferred to shareholders" bank
accounts or, in the absence of suitable mandates, dividend cheques will be      
posted to such shareholders.                                                    
Shareholders who have dematerialised their share certificates will have their   
accounts at their Central Securities Depository Participant or Broker credited  
on Monday, 17 October 2005. Share certificates may not be dematerialised or     
rematerialised between Monday, 10 October 2005 and Friday, 14 October 2005, both
days inclusive.                                                                 
To holders of American Depositary Receipts                                      
Ex dividend on New York Stock Exchange       Wednesday, 12 October 2005         
Record date                                  Friday, 14 October 2005            
Approximate date for currency conversion     Tuesday, 18 October 2005           
Approximate dividend payment date            Thursday, 27 October 2005          
On behalf of the board                                                          
P du P Kruger      L P A Davies             T S Munday                          
Chairman           Chief executive          Deputy chief executive &            
Sasol Limited                               chief financial officer             
12 September 2005                                                               
Sasol expresses regret relating to the tragic incidents experienced during the  
past financial year. We again extend our sincere condolences to all those       
affected and assure every stakeholder of our unequivocal commitment to a zero-  
harm working environment.                                                       
Forward-looking statements: In this report we make certain statements that are  
not historical facts and relate to analyses and other information based on      
forecasts of future results not yet determinable, relating, amongst other       
things, to exchange rate fluctuations, volume growth, increases in market share,
total shareholder return and cost reductions. These are forward-looking         
statements as defined in the United States Private Securities Litigation Reform 
Act of 1995. Words such as "believe", "anticipate", "intend", "seek", "will",   
"plan", "could", "may", "endeavour" and "project" and similar expressions are   
intended to identify such forward-looking statements, but are not the exclusive 
means of identifying such statements. Forward-looking statements involve        
inherent risks and uncertainties and, if one or more of these risks materialise,
or should underlying assumptions prove incorrect, actual results may be very    
different from those anticipated. The factors that could cause our actual       
results to differ materially from such forward-looking statements are discussed 
more fully in our most recent annual report under the Securities Exchange Act of
1934 on Form 20-F filed on 29 October 2004 and in other filings with the United 
States Securities and Exchange Commission. Forward-looking statements apply only
as of the date on which they are made, and Sasol does not undertake any         
obligation to update or revise any of them, whether as a result of new          
information, future events or otherwise.                                        
Please note: A billion is defined as one thousand million. The financial        
statements are presented on a condensed consolidated basis.                     
Registered office: Sasol Limited, 1 Sturdee Avenue, Rosebank, Johannesburg 2196,
P.O. Box 5486, Johannesburg 2000                                                
Share registrars: Computershare Investor Services 2004 (Pty) Limited, 70        
Marshall Street, Johannesburg 2001                                              
P.O. Box 61051, Marshalltown 2107, South Africa.                                
Tel: +27 11 370-7700.  Fax: +27 11 370-5271/2                                   
Directors (non-executive): P du P Kruger (Chairman),                            
P V Cox (Deputy chairman),  E le R Bradley,  W A M Clewlow,                     
B P Connellan,  M S V Gantsho,  A Jain (Indian),  I N Mkhize,                   
S Montsi,  J E Schrempp (German),  C B Strauss                                  
(Executive):  L P A Davies (Chief executive),                                   
T S Munday (Deputy chief executive and chief financial officer)                 
Company secretary: N L Joubert                                                  
Company registration number: 1979/003231/06, Incorporated in the Republic of    
South Africa                                                                    
                JSE            NYSE                                             
Share code:     SOL            SSL                                              
ISIN code:      ZAE000006896   US8038663006                                     
American depositary receipt (ADR) program: Cusip number 803866300 ADR to        
ordinary share 1:1                                                              
Depositary: The Bank of New York, 22nd floor, 101 Barclay Street, New York, N.Y.
10286, U.S.A.                                                                   
Value added statement for the year ended 30 June                                
2005        2004                    
                                            Rm          Rm                      
Turnover                                    69 239      60 151                  
Purchased materials and services            (42 079)    (37 085)                
Value added                                 27 160      23 066                  
Investment income                           333         307                     
Wealth created                              27 493      23 373                  
South Africa                                21 474      17 664                  
Rest of world                               6 019       5 709                   
Wealth created                              27 493      23 373                  
Employees                                   8 645       8 731                   
Providers of equity capital                 2 967       2 812                   
Providers of loan capital                   587         439                     
Government                                  4 326       3 421                   
Reinvested in the group                     10 968      7 970                   
Wealth distribution                         27 493      23 373                  
salient features                                                                
                                              2005        2004                  
Selected ratios                                                                 
Return on equity                 %            24,4        17,3                  
Return on total assets           %            18,4        13,4                  
Operating margin                 %            21,0        15,5                  
Borrowing cost cover             times        9,7         7,0                   
Dividend cover                   times        2,9         2,2                   
Share statistics                                                                
Total shares in issue            million      676,9       671,3                 
Treasury shares                                                                 
(share repurchase programme)     million      60,1        60,1                  
Weighted average number                                                         
of shares                        million      613,8       610,0                 
Diluted weighted average                                                        
number of shares                 million      624,4       616,2                 
Share price (closing)            rand         180,80      96,10                 
Market capitalisation            Rm           122 379     64 509                
Net asset value per share        rand         70,58       57,31                 
Other financial information                                                     
Total debt (including bank                                                      
- interest bearing               Rm           18 865      16 448                
- non-interest bearing           Rm           1           40                    
Borrowing costs capitalised      Rm           1 116       1 105                 
Capital commitments              Rm           19 169      24 780                
- authorised and contracted      Rm           26 679      18 216                
- authorised, not yet                                                           
contracted                       Rm           7 740       14 397                
- less expenditure to date                    (15 250)    (7 833)               
Guarantees and contingent                                                       
- total amount                   Rm           33 122      25 835                
- liability included on balance                                                 
sheet                            Rm           11 230      9 759                 
Significant items in operating                                                  
- employee costs                 Rm           8 645       8 731                 
- depreciation of property,                                                     
plant and equipment              Rm           3 591       4 723                 
- operating lease charges        Rm           462         350                   
Directors" remuneration          Rm           26          22                    
Share options granted to                                                        
directors - cumulative           "000         1 205       1 451                 
Effective tax rate               %            32,1        34,6                  
Employees                        number       30 004      30 910                
Average crude oil price                                                         
- dated Brent                    US$/barrel   46,17       31,30                 
Average rand/US$ exchange rate   1US$ = rand  6,21        6,88                  
Reconciliation of headline                                                      
earnings                                      Rm          Rm                    
Attributable earnings                         9 573       5 940                 
Effect of capital items                       1 275       27                    
- Impairment of assets                        1 078       342                   
- Profit on disposal of assets                (60)        (341)                 
- Scrapping of property, plant and equipment  290         26                    
- Profit on sale of participation rights in                                     
GTL project                                   (33)        -                     
Amortisation of goodwill                      -           21                    
Amortisation of negative goodwill             -           (225)                 
Tax effect on reconciling items               (235)       (65)                  
Deferred tax asset written off                122         -                     
Headline earnings                             10 735      5 698                 
Capital items included in operating profit    Rm          Rm                    
Mining                                        (23)        (17)                  
Synfuels                                      110         3                     
Liquid Fuels Business                         63          -                     
Synfuels International                        (33)        -                     
Olefins and Surfactants                       783         21                    
Polymers                                      12          (59)                  
Solvents                                      382         18                    
Other                                         (19)        61                    
1 275       27                    
The reader is referred to the definitions contained in the 2004 Sasol Limited   
annual financial statements.                                                    
Date: 12/09/2005 07:05:13 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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