Sasol Limited (SSL) 6-K 24 Feb 20 2020 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Dec. 31, 2019
Document and Entity Information
Entity Registrant Name	SASOL LTD
Entity Central Index Key	0000314590
Document Type	6-K
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

Income Statement

Income Statement - ZAR (R) R in Millions		6 Months Ended		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Income Statement
Turnover		R 99,170	R 102,944	R 203,576
Materials, energy and consumables used		(46,373)	(45,960)	(90,589)
Selling and distribution costs		(3,831)	(3,794)	(7,836)
Maintenance expenditure		(5,265)	(4,676)	(10,227)
Employee-related expenditure		(16,445)	(14,789)	(29,928)
Exploration expenditure and feasibility costs		(381)	(167)	(663)
Depreciation and amortisation		(10,977)	(8,392)	(17,968)
Other expenses and income		(6,584)	(5,850)	(19,097)
Translation (losses)/gains		(227)	454	604
Other operating expenses and income		(6,357)	(6,304)	(19,701)
Equity accounted profits, net of tax		370	876	1,074
Operating profit before remeasurement items		9,684	20,192	28,342
Remeasurement items	[1]	169	599	(18,645)
Earnings before interest and tax (EBIT)		9,853	20,791	9,697
Finance income		381	420	787
Finance costs		(2,636)	(252)	(1,253)
Earnings before tax		7,598	20,959	9,231
Taxation		(3,092)	(5,057)	(3,157)
Earnings for the period	[2]	4,506	15,902	6,074
Attributable to
Owners of Sasol Limited		4,053	14,740	4,298
Non-controlling interests in subsidiaries		453	1,162	1,776
Earnings for the period	[2]	R 4,506	R 15,902	R 6,074
Per share information
Basic earnings per share (in rand per share)		R 6.56	R 23.92	R 6.97
Diluted earnings per share (in rand per share)		R 6.53	R 23.76	R 6.93
[1]	In FY19, remeasurement items included the impairments of the Tetramerization and EO/EG value chains of R7.4 billion (US$526 million) and R5.5 billion (US$388 million), respectively, an impairment of the Ammonia value chain of R3.3 billion and a further impairment of the shale gas assets in Canada of R1.9 billion (CAD181 million).
[2]	Earnings decreased by 72% to R4.5 billion compared to the prior period. This resulted from a 9% decrease in the rand per barrel price of Brent crude oil, softer global chemical prices and refining margins, lower productivity at our Mining operations and a negative contribution from the LCCP. As the LCCP units progress through the sequential beneficial operation schedule, our revenues do not yet match the costs expensed. We do expect that for the second half of FY20 revenue will match the costs expensed better. The LCCP negatively impacted earnings by R2.8 billion. Earnings were further impacted by approximately R2.0 billion in finance charges for the period as the LCCP units reach beneficial operation.

Income Statement (Parenthetical

Income Statement (Parenthetical) R in Millions, $ in Millions, $ in Millions		6 Months Ended	12 Months Ended
		Dec. 31, 2019ZAR (R)	Jun. 30, 2019CAD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2019ZAR (R)
Statement
Increase (decrease) in earnings for the period (as a percent)		(72.00%)
Earnings for the period	[1]	R 4,506			R 6,074
Increase (decrease) in Brent crude oil price		(9.00%)
Earnings before interest and tax (EBIT)		R 9,853			9,697
Finance charges		(2,636)			(1,253)
Tetramerization value chain
Statement
Impairment				$ (526)	(7,400)
EO/EG value chain
Statement
Impairment				$ (388)	(5,500)
Ammonia value chain
Statement
Impairment					(3,300)
Canadian shale gas assets
Statement
Impairment			$ (181)		R (1,900)
Lake Charles Chemicals Project (LCCP)
Statement
Earnings before interest and tax (EBIT)		(2,800)
Finance charges		R (2,000)
[1]	Earnings decreased by 72% to R4.5 billion compared to the prior period. This resulted from a 9% decrease in the rand per barrel price of Brent crude oil, softer global chemical prices and refining margins, lower productivity at our Mining operations and a negative contribution from the LCCP. As the LCCP units progress through the sequential beneficial operation schedule, our revenues do not yet match the costs expensed. We do expect that for the second half of FY20 revenue will match the costs expensed better. The LCCP negatively impacted earnings by R2.8 billion. Earnings were further impacted by approximately R2.0 billion in finance charges for the period as the LCCP units reach beneficial operation.

Statement of comprehensive inco

Statement of comprehensive income - ZAR (R) R in Millions		6 Months Ended		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Statement of comprehensive income
Earnings for the period	[1]	R 4,506	R 15,902	R 6,074
Other comprehensive income, net of tax
Items that can be subsequently reclassified to the income statement		(1,866)	3,817	1,353
Effect of translation of foreign operations		(1,743)	4,169	1,533
Effect of cash flow hedges		(156)	(452)	(287)
Tax on items that can be subsequently reclassified to the income statement		33	100	107
Items that cannot be subsequently reclassified to the income statement		(35)	56	(265)
Remeasurements on post-retirement benefit obligations		(128)	5	(531)
Fair value of investments through other comprehensive income		75	99	136
Tax on items that cannot be subsequently reclassified to the income statement		18	(48)	130
Total comprehensive income for the period		2,605	19,775	7,162
Attributable to
Owners of Sasol Limited		2,155	18,601	5,377
Non-controlling interests in subsidiaries		450	1,174	1,785
Total comprehensive income for the period		R 2,605	R 19,775	R 7,162
[1]	Earnings decreased by 72% to R4.5 billion compared to the prior period. This resulted from a 9% decrease in the rand per barrel price of Brent crude oil, softer global chemical prices and refining margins, lower productivity at our Mining operations and a negative contribution from the LCCP. As the LCCP units progress through the sequential beneficial operation schedule, our revenues do not yet match the costs expensed. We do expect that for the second half of FY20 revenue will match the costs expensed better. The LCCP negatively impacted earnings by R2.8 billion. Earnings were further impacted by approximately R2.0 billion in finance charges for the period as the LCCP units reach beneficial operation.

Statement of financial position

Statement of financial position - ZAR (R) R in Millions		Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Assets
Property, plant and equipment	[1]	R 282,349	R 233,549	R 181,552
Assets under construction	[2]	83,474	127,764	184,007
Right of use assets	[3]	16,475
Goodwill and other intangible assets		3,299	3,357	2,792
Equity accounted investments		10,276	9,866	10,961
Post-retirement benefit assets		1,151	1,274	1,292
Deferred tax assets	[4]	9,686	8,563	4,302
Other long-term assets		7,181	7,580	7,223
Non-current assets		413,891	391,953	392,129
Assets in disposal groups held for sale		1,302	2,554	136
Inventories		30,475	29,646	31,203
Trade and other receivables		25,724	29,308	30,515
Short-term financial assets	[5]	2,279	630	2,602
Cash and cash equivalents		12,674	15,877	15,876
Current assets		72,454	78,015	80,332
Total assets		486,345	469,968	472,461
Equity and liabilities
Shareholders' equity		222,645	219,910	235,997
Non-controlling interests		6,001	5,885	6,241
Total equity		228,646	225,795	242,238	R 228,608
Long-term debt		121,287	127,350	114,013
Lease liabilities	[3]	15,939	7,445	7,216
Long-term provisions		17,974	17,622	15,621
Post-retirement benefit obligations		12,850	12,708	12,141
Long-term deferred income		560	924	850
Long-term financial liabilities	[6]	2,142	1,440	433
Deferred tax liabilities	[4]	28,791	27,586	28,773
Non-current liabilities		199,543	195,075	179,047
Liabilities in disposal groups held for sale		411	488	44
Short-term debt	[7]	18,380	3,783	10,243
Short-term financial liabilities		1,348	765	1,264
Other current liabilities	[8]	38,013	44,004	39,519
Bank overdraft		4	58	106
Current liabilities		58,156	49,098	51,176
Total equity and liabilities		R 486,345	R 469,968	R 472,461
[1]	Includes assets under construction capitalised of R69 billion and depreciation for the period of R10 billion
[2]	Actual capital expenditure, including accruals, amounted to R21 billion. This includes R10 billion (US$0.7 billion) relating to the LCCP. R69 billion was capitalised to property, plant and equipment, including R55 billion relating to the LCCP
[3]	Refer to page 15 for the impact of the adoption of IFRS 16 ‘Leases’
[4]	Deferred tax assets and liabilities are determined based on the tax status and rates of the underlying entities. The increase in deferred tax assets relate to our US Operations.
[5]	Fair value period end adjustments, mainly the zero-cost foreign exchange collars
[6]	Includes R674 million relating to an embedded derivative contained in the Oxygen Train 17 agreement with Air Liquide, which was recognised as a Finance Lease under IAS 17. With the adoption of IFRS 16 the agreement is recognised as a service agreement
[7]	Short-term debt includes R14 billion relating to the US$1 billion syndicated loan facility raised in November 2019.
[8]	The movement mainly relates to the R3.9 billion decrease in capital project related payables as the LCCP nears completion

Statement of financial positi_2

Statement of financial position (Parenthetical) R in Millions, $ in Billions		6 Months Ended
		Dec. 31, 2019USD ($)	Dec. 31, 2019ZAR (R)	Dec. 31, 2019ZAR (R)
Statement
Assets under construction capitalized			R 69,000
Depreciation			10,000
Actual capital expenditure, including accruals			21,442
Construction in progress capitalized to property, plant and equipment			69,000
Short-term debt	[1]			R 18,380
Increase (decrease) in capital project related payables	[2]		(3,853)
Syndicated loan facility
Statement
Short-term debt		$ 1		14,000
Lake Charles Chemicals Project (LCCP)
Statement
Actual capital expenditure, including accruals		$ 0.7	10,000
Construction in progress capitalized to property, plant and equipment			55,000
Increase (decrease) in capital project related payables			R (3,900)
Air Liquide
Statement
Embedded derivative				R 674
[1]	Short-term debt includes R14 billion relating to the US$1 billion syndicated loan facility raised in November 2019.
[2]	The movement is mainly as a result of the LCCP nearing completion

Statement of changes in equity

Statement of changes in equity - ZAR (R) R in Millions		Shareholders' equity	Share capital	Retained earnings	Share-based payment reserve	Foreign currency translation reserve	Remeasurements on post-retirement benefit obligations	Investment fair value reserve	Cash flow hedge accounting reserve	Non-controlling interests in subsidiaries	Total
Balance at beginning of period at Jun. 30, 2018											R 228,608
Restated balance at beginning of period at Jun. 30, 2018											228,608
Movement in share-based payment reserve											681
Share-based payment expense											327
Deferred tax											(122)
Sasol Khanyisa transaction											476
Total comprehensive income for the period											19,775
Dividends paid to shareholders											(4,897)
Final distribution to Sasol Inzalo Public Shareholders											(1,372)
Dividends paid to non-controlling shareholders in subsidiaries											(557)
Balance at end of period at Dec. 31, 2018		R 235,997	R 9,888	R 195,789	R (424)	R 32,653	R (1,846)	R 105	R (168)	R 6,241	242,238
Balance at beginning of period at Jun. 30, 2018											228,608
Restated balance at beginning of period at Jun. 30, 2018											228,608
Disposal of business											(52)
Movement in share-based payment reserve											1,552
Share-based payment expense											707
Deferred tax											(107)
Sasol Khanyisa transaction											952
Total comprehensive income for the period											7,162
Dividends paid to shareholders											(8,580)
Final distribution to Sasol Inzalo Public Shareholders											(1,372)
Dividends paid to non-controlling shareholders in subsidiaries											(1,523)
Balance at end of period at Jun. 30, 2019		219,910	9,888	181,706	410	29,978	(2,204)	132		5,885	225,795
Adjustment on initial application of IFRS 16, net of tax at Jun. 30, 2019	[1]										(290)
Restated balance at beginning of period at Jun. 30, 2019											225,505
Movement in share-based payment reserve											881
Share-based payment expense											396
Deferred tax											(7)
Sasol Khanyisa transaction											492
Total comprehensive income for the period											2,605
Dividends paid to shareholders											(11)
Dividends paid to non-controlling shareholders in subsidiaries											(334)
Balance at end of period at Dec. 31, 2019		R 222,645	R 9,888	R 186,036	R 713	R 28,240	R (2,286)	R 180	R (126)	R 6,001	R 228,646
[1]	The adjustment on initial application of IFRS 16 'Leases' relates the derecognition of the IAS 17 finance lease of Oxygen Train 17 and the recognition of the embedded derivative in the Oxygen Train 17 agreement with Air Liquide. Refer to page 15 for the impact of the adoption of IFRS 16.

Statement of cash flows

Statement of cash flows - ZAR (R) R in Millions		6 Months Ended			12 Months Ended
		Dec. 31, 2019		Dec. 31, 2018	Jun. 30, 2019
Statement of cash flows
Cash receipts from customers		R 102,955		R 103,145	R 203,613
Cash paid to suppliers and employees		(83,322)		(78,377)	(152,215)
Cash generated by operating activities	[1]	19,633		24,768	51,398
Dividends received from equity accounted investments		15		1,423	1,506
Finance income received		363		343	682
Finance costs paid	[2]	(2,999)		(2,494)	(6,222)
Tax paid		(3,301)		(1,339)	(3,946)
Cash available from operating activities		13,711		22,701	43,418
Dividends paid		(11)		(4,897)	(9,952)
Dividends paid to non-controlling shareholders in subsidiaries		(334)		(557)	(1,523)
Cash retained from operating activities		13,366		17,247	31,943
Total additions to non-current assets		(25,295)		(31,736)	(56,734)
Additions to non-current assets		(21,442)		(30,433)	(55,800)
Decrease in capital project related payables	[3]	(3,853)		(1,303)	(934)
Additional cash contributions (to)/from equity accounted investments		(137)		54	66
Proceeds on disposals and scrappings	[4]	2,032		53	567
Purchase of investments		(72)		(167)	(222)
Other net cash flow from investing activities		(459)		114	(89)
Cash used in investing activities		(23,931)		(31,682)	(56,412)
Final settlement to Sasol Inzalo Public Shareholders				(1,372)
Proceeds from long-term debt	[5]	18,504		20,470	93,884
Repayment of long-term debt	[5]	(23,987)		(12,056)	(69,656)
Repayment of lease liabilities		(1,110)		(422)	(344)
Proceeds from short-term debt	[6]	15,136		7,827	977
Repayment of short-term debt		(1,270)		(1,629)	(1,730)
Cash generated by financing activities		7,273		12,818	23,131
Translation effects on cash and cash equivalents		132		348	162
Decrease in cash and cash equivalents		(3,160)		(1,269)	(1,176)
Cash and cash equivalents at the beginning of the period		15,819	[7]	17,039	17,039
Reclassification to disposal groups held for sale		11			(44)
Cash and cash equivalents at the end of the period	[7]	R 12,670		R 15,770	R 15,819
[1]	Cash generated by operating activities decreased by 21% to R19.6 billion compared to R24.8 billion in the prior period. This was largely due to the softer macroeconomics and losses attributable to the LCCP. The decrease was partially negated by another strong working capital and cost performance from the foundation business. Working capital decreased by R433 million during the period mainly as a result of focused management actions.
[2]	Included in finance costs paid are amounts capitalised to assets under construction of R1 974 million.
[3]	The movement is mainly as a result of the LCCP nearing completion
[4]	Includes proceeds from the disposal of our investment in Sasol Huntsman GmbH & co KG of EUR91 million (R1 506 million).
[5]	Includes additional bilateral facilities of US$250 million (R3.7 billion) and R2.2 billion in the local debt market issued under the Domestic Medium Term Note programme offset by net repayment of RCF (US$671 million/R9.9 billion).
[6]	Short-term debt includes the US$1 billion (R14 billion) syndicated loan facility raised in November 2019.
[7]	Includes bank overdraft.

Statement of cash flows (Parent

Statement of cash flows (Parenthetical) € in Millions, R in Millions, $ in Millions	6 Months Ended
	Dec. 31, 2019EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019ZAR (R)
Statement
Increase (decrease) in cash generated by operating activities (as a percent)	(21.00%)	(21.00%)	(21.00%)
Cash generated by operating activities			R 19,633	[1]
Increase (decrease) in working capital			(433)
Amounts capitalised to assets under construction			1,974
Proceeds on disposals and scrappings			2,032	[2]
Proceeds from long-term debt			18,504	[3]
Repayment of long-term debt			23,987	[3]
Proceeds from short-term debt			15,136	[4]
Additional bilateral facility, one
Statement
Proceeds from long-term debt		$ 250	3,700
Additional bilateral facility, two
Statement
Proceeds from long-term debt			2,200
Revolving credit facilities
Statement
Repayment of long-term debt		671	9,900
Syndicated loan facility
Statement
Proceeds from short-term debt		$ 1,000	14,000
Sasol Huntsman GmbH & co KG
Statement
Proceeds on disposals and scrappings	€ 91		R 1,506
[1]	Cash generated by operating activities decreased by 21% to R19.6 billion compared to R24.8 billion in the prior period. This was largely due to the softer macroeconomics and losses attributable to the LCCP. The decrease was partially negated by another strong working capital and cost performance from the foundation business. Working capital decreased by R433 million during the period mainly as a result of focused management actions.
[2]	Includes proceeds from the disposal of our investment in Sasol Huntsman GmbH & co KG of EUR91 million (R1 506 million).
[3]	Includes additional bilateral facilities of US$250 million (R3.7 billion) and R2.2 billion in the local debt market issued under the Domestic Medium Term Note programme offset by net repayment of RCF (US$671 million/R9.9 billion).
[4]	Short-term debt includes the US$1 billion (R14 billion) syndicated loan facility raised in November 2019.

Segment report

Segment report	6 Months Ended
	Dec. 31, 2019
Segment report
Segment report	Segment report for the period ended Turnover Earnings before interest and tax (EBIT) Full year Half year Half year Half year Half year Full year 30 Jun 19 31 Dec 18 31 Dec 19 31 Dec 19 31 Dec 18 30 Jun 19 Rm Rm Rm Segment analysis Rm Rm Rm 26 060 12 584 12 983 Operating Business Units 2 397 3 425 3 812 20 876 9 906 10 348 Mining 1 374 2 661 4 701 5 184 2 678 2 635 Exploration and Production International 1 023 764 (889) 200 912 101 403 98 781 Strategic Business Units 6 549 16 240 8 095 83 803 43 623 41 206 Energy 6 743 9 565 16 566 48 813 23 011 24 642 Base Chemicals (1 488) 3 076 (1 431) 68 296 34 769 32 933 Performance Chemicals 1 294 3 599 (7 040) 78 26 – Group Functions 907 1 126 (2 210) 227 050 114 013 111 764 Group performance 9 853 20 791 9 697 (23 474) (11 069) (12 594) Intersegmental turnover 203 576 102 944 99 170 External turnover Revenue by major product line Half year Half year Full year 31 Dec 19 31 Dec 18 30 Jun 19 Rm Rm Rm Base Chemicals 24 183 22 668 48 113 Polymers 13 974 12 346 25 864 Solvents 5 965 6 441 13 178 Fertilisers and explosives 2 240 2 333 4 718 Other base chemicals 2 004 1 548 4 353 Performance Chemicals 32 452 34 349 67 228 Organics 24 790 26 193 51 405 Waxes 3 927 4 387 8 474 Advanced materials 3 735 3 769 7 349 Upstream, Energy and Other Coal 906 1 826 3 222 Liquid fuels and crude oil 36 884 39 633 75 819 Gas (methane rich and natural gas) and condensate 3 134 2 991 5 986 Other (Technology, refinery services) 1 148 991 2 308 Revenue from contracts with customers 98 707 102 458 202 676 Revenue from other contracts (franchise rentals, use of fuel tanks and fuel storage) 463 486 900 Total external turnover 99 170 102 944 203 576 Segmental earnings performance i,ii,iii Mining – striving towards zero harm, productivity a key focus Mining productivity disappointingly decreased by 7% as a result of increasing geological complexities necessitating additional roof support requirements to ensure safe operations. In addition, unplanned infrastructure challenges coupled with two tragic fatalities at our Thubelisha Colliery led to further downtime. The external contracted coal supply from the Isibonelo Colliery was also severely disrupted due to flooding following above average rainfall in the Secunda area. As a result of the lower production, our inventory levels reduced below target levels necessitating external coal purchases in order to sustain our integrated Secunda value chain. We remain focused on improving productivity to targeted levels. However, we expect further external coal purchases of approximately 1,3 to 1,6 million tons during the second half of FY20 in order to sustain liquid fuels production and enable recovery to targeted stock pile levels. As a result, EBIT decreased by 48% to R1,4 billion compared to the prior period. This was partially negated by increased sales volumes in order to meet internal customer demand. External sales volumes were 19% lower compared to the prior period as we diverted export quality coal to the Secunda Synfuels Operations (SSO) value chain. Our normalised unit cost increased by 15% to R343/ton due to lower overall production levels and cash fixed cost increased above inflation mainly due to higher labour cost. We expect our normalised mining unit cost to be approximately R330 to R350/ton for the full year. Exploration and Production International (E&PI) – consistent operational performance in Mozambique, adversely impacted by lower sales prices EBIT increased by 34% to R1,0 billion compared to the prior period due to a consistent operational performance in Mozambique. Our Mozambican producing operations recorded an EBIT of R1,4 billion, a 12% increase compared to the prior period mainly due to the impact of a favourable Rand/US dollar exchange rate offset by lower sales prices. We expect gas production volumes from the Petroleum Production Agreement in Mozambique to be 114 to 118 bscf, in line with previous market guidance. Gabon achieved an EBIT of R113 million, a 66% decrease compared to the prior period mainly due to lower oil prices and lower volumes negated by lower operating costs. Our Canadian shale gas asset in Montney generated an operating loss of R142 million compared to a loss of R366 million in the prior period as we seek to optimise our drilling activities. We remain committed to divest from this asset as part of our strategic portfolio optimisation. Energy – strong liquid fuels volume performance, with lower refining margins Total liquid fuels sales volumes increased marginally due to higher sales volumes in the wholesale channel, enabled by increased production at SSO and lower reliance on external white product purchases. SSO continues to run stably with refined production volumes up by 5% following the successful completion of a phase shutdown compared to a total West factory shutdown during FY19. Natref production was 8% lower compared to the prior period, mainly as a result of the impact of the planned shutdown during November 2019. External natural gas sales volumes decreased by 2% due to lower market demand in the South African economy. The weaker macroeconomic environment, with lower international oil prices and lower refining margins negatively impacted EBIT which decreased by 30% to R6,7 billion compared to the prior period. This was offset by higher liquid fuels sales volumes and a weaker average Rand/US dollar exchange rate. Cash fixed cost increased by 9% mainly due to higher than expected inflationary increases in electricity costs and equipment service charges. We continue with the execution of our retail expansion strategy and have opened three new retail convenience centres (RCCs) during the period. We are targeting ten new RCCs for the full year. ORYX GTL achieved a utilisation rate of 98% during the period and contributed R701 million to EBIT, a decrease of R255 million compared to the prior period. The decrease was mainly due to lower international oil prices and a 1% decrease in production volumes. We expect to achieve a utilisation rate of 55% to 60% for the full year due to an extended planned shutdown during the second half of the year. Escravos GTL production volumes were lower as both trains were in a planned shutdown from August 2019. Both trains returned to operation during December 2019. Performance Chemicals – challenging macroeconomic environment weighing on performance Total sales volumes increased by 6% compared to the prior period as the LCCP EO/EG plant continues to produce as planned. Excluding LCCP volumes, total sales volumes decreased by 5%, with our organics business recording a 3% decrease in sales volumes. This volume performance was due to a generally softer macroeconomic environment in Europe and Asia, on the back of US/China trade disputes, specifically visible in the automotive market segment. Despite these economic headwinds, our advanced materials portfolio margins remained robust during the period. Our organics portfolio sales price was negatively impacted by the higher share of MEG and lower oleochemicals pricing. EBIT decreased by 64% to R1,3 billion compared to the prior period mainly as a result of the softer macroeconomic environment and R1,6 billion of losses attributable to the LCCP while in the ramp-up phase. The LCCP EO/EG plant realised sales volumes of 144kt (70kt during the first quarter and 74kt during the second quarter of FY20) of MEG during the period compared to 37kt during the last quarter of FY19. The EO/EG plant together with the ETO unit, which reached beneficial operation on 30 January 2020 and the Guerbet and Ziegler units which are anticipated to reach beneficial operation during the last quarter of FY20, are expected to sustainably increase the EBIT from the Performance Chemicals business going forward. Base Chemicals – higher volumes offset by further softening of chemical prices Softer commodity chemical prices were experienced across most of our sales regions and products, largely attributable to weaker global demand and increased global capacity. Our foundation business sales volumes (excluding Polymers US products) were 1% higher compared to the prior period as a result of a phase shutdown during the period versus a total West factory shutdown at SSO during the prior period. Total sales volumes increased by 21% compared to the prior period. Our Base Chemicals average sales basket price decreased by 15% compared to the prior period. As a result of this and losses of R1,2 billion attributable to the LCCP while in the ramp-up phase, EBIT decreased from R3,1 billion in the prior period to a loss of R1,5 billion. The softening of chemical sales prices also resulted in a R464 million further impairment of the Blends and Mining Chemicals and Methyl Isobutyl Ketone (MIBK) cash generating units. The decrease in EBIT was negated by a R936 million profit in relation to the disposal of our 50% equity interest in the Sasol Huntsman maleic anhydride joint venture as we continue to execute on our asset optimisation programme. Polymers US sales volumes increased to 469kt from 116kt during the prior period mainly due to the ethylene cracker startup and the LLDPE plant achieving beneficial operation which is ramping up as planned. Our polymers US average sales basket price decreased by 40% compared to the prior period due to changes in product mix with us re-entering the merchant ethylene market following the new ethylene cracker startup as well as lower global polymer prices. The High-density polyethylene (HDPE) plant continues to produce above expectation. Heightened geopolitical risks, especially in the Middle East, the recent outbreak of COVID-19 and the ongoing trade discussions between China and the US are likely to impact sales prices and volumes for the remainder of FY20. i Forward-looking statements are the responsibility of the Directors and in accordance with standard practice, it is noted that this statement has not been reviewed and reported on by the Company’s auditors. ii All comparisons to the prior period refer to the six months ended 31 December 2018. All numbers are quoted on a pre-tax basis, except for earnings attributable to shareholders. iii All other operational and financial measures (such as cash fixed cost) have not been reviewed and reported on by the Company’s auditors.

Salient features

Salient features	6 Months Ended
	Dec. 31, 2019
Salient features
Salient features	Salient features for the period ended Half year Half year Full year 31 Dec 19 31 Dec 18 30 Jun 19 Other financial information Total debt (including bank overdraft) Rm 155 610 131 578 138 636 interest-bearing Rm 155 546 130 800 137 691 non-interest-bearing Rm 64 778 945 Finance expense capitalised Rm 1 974 3 440 6 942 Capital commitments (subsidiaries and joint operations)¹ Rm 49 394 71 248 60 095 authorised and contracted Rm 217 047 187 515 212 848 authorised, not yet contracted Rm 37 827 53 163 43 097 less expenditure to date Rm (205 480) (169 430) (195 850) Capital commitments (equity accounted investments) Rm 1 957 1 018 1 283 authorised and contracted Rm 641 618 715 authorised, not yet contracted Rm 1 912 620 1 100 less expenditure to date Rm (596) (220) (532) Effective tax rate² % 40,7 24,1 34,2 Number of employees³ number 31 363 31 430 31 429 1 During FY19 a misstatement was identified in the calculation of the LCCP capital cost estimate that was included in the capital commitment disclosure as at 31 December 2018 and 30 June 2018. The misstatement related to the inaccurate estimation of the cost still to be incurred on the project. Accordingly, the capital commitments disclosure as at 31 December 2018 that were originally presented as R58 640 million has been revised by R12 608 million (US$878 million) to R71 248 million. Management concluded that the revision is not material to interim financial results. 2 Our effective corporate tax rate increased from 24,1% to 40,7%. The effective corporate tax rate is 12,7% higher than the South African corporate income tax rate of 28%, mainly due to non-deductible finance costs as a result of increased funding required for the LCCP and the increase in US tax losses at a lower US corporate income tax rate. The positive benefit of the lower US corporate income tax rate will dilute our effective corporate tax rate as soon as the LCCP is generating taxable profits. 3 The total number of employees includes permanent and non-permanent employees and the group’s share of employees within joint operations, but excludes contractors and equity accounted investments’ employees. Half year Half year Full year 31 Dec 19 31 Dec 18 30 Jun 19 Rm Rm Rm Reconciliation of headline earnings Earnings attributable to owners of Sasol Limited 4 053 14 740 4 298 Effect of remeasurement items for subsidiaries and joint operations (169) (599) 18 645 Impairment of property, plant and equipment 464 2 14 161 Impairment of assets under construction – – 4 272 Impairment of goodwill and other intangible assets – – 18 Impairment of other assets 3 – – Reversal of impairment – (957) (949) Profit on disposal of business¹ (983) – (267) Profit on disposal of non-current assets (61) (27) (32) Scrapping of non-current assets 426 376 1 408 Write-off of unsuccessful exploration wells (18) 7 34 Tax effects and non-controlling interests (214) 168 (4 017) Effect of remeasurement items for equity accounted investments – 15 15 Headline earnings 3 670 14 324 18 941 Headline earnings adjustments by segment Mining 106 7 45 Exploration and Production International (18) 7 1 976 Energy (27) 122 247 Base Chemicals (352) (820) 3 190 Performance Chemicals 118 85 13 182 Group Functions 4 – 5 Remeasurement items (169) (599) 18 645 Headline earnings per share² Rand 5,94 23,25 30,72 Diluted headline earnings per share Rand 5,91 23,08 30,54 1 Mainly relates to R461 million profit on the disposal of our investment in Sasol Huntsman GmbH & co KG and the corresponding R475 million release of foreign currency translation reserve. 2 Headline earnings per share refers to disclosure made in terms of the JSE Limited Listing Requirements. The reader is referred to the definitions contained in the 2019 Sasol Limited financial statements.

Basis of preparation

Basis of preparation	6 Months Ended
	Dec. 31, 2019
Basis of preparation
Basis of preparation	Basis of preparation The condensed consolidated interim financial statements for the six months ended 31 December 2019 have been prepared in accordance with International Financial Reporting Standard (IFRS), IAS 34 ‘Interim Financial Reporting’, the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council and the requirements of the Companies Act of South Africa, 2008, as amended, and the JSE Limited Listings Requirements. The condensed consolidated interim financial statements do not include all the disclosures required for complete annual financial statements prepared in accordance with IFRS as issued by the International Accounting Standards Board. The condensed consolidated interim financial statements are prepared on a going concern basis. The Board is satisfied that the liquidity and solvency of the Company is sufficient to support the current operations for the next 12 months. These condensed consolidated interim financial statements have been prepared in accordance with the historic cost convention except that certain items, including derivative financial instruments, liabilities for cash-settled share-based payment schemes, financial assets at fair value through profit or loss and financial assets designated at fair value through other comprehensive income, are stated at fair value. The condensed consolidated interim financial statements are presented in South African rand, which is Sasol Limited’s functional and presentation currency. The accounting policies applied in the preparation of these condensed consolidated interim financial statements are in terms of IFRS and are consistent with those applied in the consolidated annual financial statements for the year ended 30 June 2019, except for the adoption of IFRS 16 ‘Leases’, and the Amendments to IFRS 9 ‘Financial Instruments’, IAS 39 ‘Financial Instruments: Recognition and Measurement’ and IFRS 7 ‘Financial Instruments: Disclosure’, and IFRIC 23 ‘Uncertainty Over Income Tax Treatments’ with effect from 1 July 2019. The condensed consolidated interim financial statements appearing in this announcement are the responsibility of the directors. The directors take full responsibility for the preparation of the condensed consolidated interim financial statements. Paul Victor CA(SA), Chief Financial Officer, is responsible for this set of condensed consolidated interim financial statements and has supervised the preparation thereof in conjunction with the Senior Vice President: Financial Control Services, Moveshen Moodley CA(SA). The condensed consolidated interim financial statements were approved by the Sasol Limited Board of directors on 21 February 2020. New International Financial Reporting Standards adopted IFRS 16 ‘Leases’ IFRS 16 replaces IAS 17 ‘Leases’ as well as three Interpretations (IFRIC 4 ‘Determining whether an Arrangement contains a Lease’, SIC-15 ‘Operating Leases - Incentives’ and SIC-27 ‘Evaluating the Substance of Transactions Involving the Legal Form of a Lease’). IFRS 16 introduces a single lease accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee is required to recognise a right of use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. Sasol adopted IFRS 16 with effect from 1 July 2019 using the modified retrospective approach, which allows the cumulative effect of initially applying the standard to be recognised in equity as an adjustment to the opening retained earnings at adoption date, with no restatement of comparative financial information required. The adoption of the standard has a material effect on the group’s financial statements, significantly increasing the group’s recognised assets and liabilities. IFRS 16 provides a revised definition for leases whereby contracts that convey the right to control the use of an identified asset for a period of time in exchange for consideration are accounted for as leases. Sasol reviewed contracts previously classified as leases under IAS 17 to determine whether the contract contains a lease on adoption date, and evaluated whether any significant contracts not previously accounted for as leases contained a lease under IFRS 16. At 1 July 2019, additional lease liabilities were recognised for leases previously classified as operating leases under IAS 17. These lease liabilities were measured at the present value of lease payments over the remaining reasonably certain lease period, discounted using entity-specific incremental borrowing rates as of 1 July 2019. The discount rates incorporate factors such as the lessee’s country of operation, the lease term, the nature of the asset and the commencement date of the lease. On transition, the incremental borrowing rates applied in deriving the total lease liability range from 8,2% to 11,5% (South African rand denominated leases), 0,9% to 8,1% (Eurasia) and 3,7% to 5,6% (United States). On 1 July 2019, a corresponding right of use asset was recognised for an amount equal to the aforementioned lease liability, adjusted for any prepaid or accrued lease payment on the contract as at 30 June 2019, as well as for any restoration obligation. In terms of the transition options allowed by IFRS 16, leases with a remaining contract period of less than 12 months from adoption date were not recognised on the statement of financial position but continue to be expensed through the income statement on a straight-line basis. As allowed practical expedients in IFRS 16, initial direct costs were excluded from the measurement of the right of use asset at adoption date, a single discount rate was used in certain instances for a portfolio of leases with reasonably similar characteristics, hindsight was used in the determination of the lease term in the case of renewal or termination options and relying on previous assessments on whether leases are onerous as an alternative to performing an impairment review to determine that no onerous contracts existed at 1 July 2019. With the application of the definition of leases contained in IFRS 16, certain contracts previously accounted for as operating or finance leases under IAS 17 are no longer accounted for as leases, but rather as service agreements. This was mainly where it was determined that Sasol do not control how and for what purpose the asset is used. For leases previously classified as finance leases, the respective right of use assets and lease liabilities were measured at adoption date at the same amounts as under IAS 17 immediately preceding the adoption of IFRS 16. The impact of the adoption of IFRS 16 on the group’s statement of financial position at 1 July 2019 is as follows: 30 June IFRS 16 1 July 2019 Impact 2019 Rm Rm Rm Statement of financial position Assets Property, plant and equipment 233 549 (7 417) 226 132 Assets under construction 127 764 (71) 127 693 Right of use assets – 16 045 16 045 Goodwill and other intangible assets 3 357 – 3 357 Equity accounted investments 9 866 – 9 866 Post-retirement benefit assets 1 274 – 1 274 Deferred tax assets 8 563 – 8 563 Other long-term assets 7 580 (191) 7 389 Non-current assets 391 953 8 366 400 319 Assets in disposal groups held for sale 2 554 – 2 554 Inventories 29 646 – 29 646 Trade and other receivables 29 308 (13) 29 295 Short-term financial assets 630 – 630 Cash and cash equivalents 15 877 – 15 877 Current assets 78 015 (13) 78 002 Total assets 469 968 8 353 478 321 Equity and liabilities Shareholders’ equity 219 910 (290) 219 620 Non-controlling interests 5 885 – 5 885 Total equity 225 795 (290) 225 505 Long-term debt 127 350 (1 005) 126 345 Lease liabilities 7 445 7 933 15 378 Long-term provisions 17 622 – 17 622 Post-retirement benefit obligations 12 708 – 12 708 Long-term deferred income 924 (152) 772 Long-term financial liabilities 1 440 624 2 064 Deferred tax liabilities 27 586 (111) 27 475 Non-current liabilities 195 075 7 289 202 364 Liabilities in disposal groups held for sale 488 – 488 Short-term debt 3 783 1 383 5 166 Short-term financial liabilities 765 – 765 Other current liabilities 44 004 (29) 43 975 Bank overdraft 58 – 58 Current liabilities 49 098 1 354 50 452 Total equity and liabilities 469 968 8 353 478 321 The application of the new standard has a significant impact on the presentation and timing of expenditure. Under IFRS 16, expenses related to leases previously classified as operating leases are now recognised in the income statement over the lease term as amortisation of the right of use asset and interest expense relating to the lease liability, whereas these expenditures were previously predominantly disclosed as expenditure on ‘Selling and distribution costs’, ‘Maintenance expenditure’ and ‘Other operating expenses’ on a straight-line basis. Following the adoption of IFRS 16, payments relating to leases previously classified as operating leases are presented under cash flow from financing activities, representing the payment of principal, and as operating cash flows, representing the payment of interest. Under IAS 17, these payments were primarily reflected as cash flows from operating activities. Amendments to IFRS 9 ‘Financial Instruments’, IAS 39 ‘Financial Instruments: Recognition and Measurement’ and IFRS 7 ‘Financial Instruments: Disclosure’ These amendments provide certain reliefs in connection with interest rate benchmark (IBOR) reform. The reliefs relate to hedge accounting and have the effect that IBOR reform should not generally cause hedge accounting to terminate. However, any hedge ineffectiveness should continue to be recorded in the income statement. The IBOR reform amendment was early adopted. The adoption of these amendments had no impact on the group’s financial statements. IFRIC 23 ‘Uncertainty Over Income Tax Treatments’ IFRIC 23 clarifies how the recognition and measurement requirements of IAS 12 ‘Income taxes’ are applied where there is uncertainty over income tax treatments. The adoption of IFRIC 23 had no impact on the group at 31 December 2019.

Litigation and contingency

Litigation and contingency	6 Months Ended
	Dec. 31, 2019
Litigation and contingency
Litigation and contingency	Litigation and contingency As reported previously, the South African Revenue Services (SARS) conducted an audit over a number of years on Sasol Financing International Plc (SFI) which performs an off-shore treasury function for Sasol. The audit culminated in the issuance by SARS of revised tax assessments, based on the interpretation of the place of effective management of SFI. The potential tax exposure is R2,46 billion (including interest and penalties as at 31 December 2019), which is disclosed as a contingent liability. SFI and SARS have come to a mutual agreement that the Tax Court related processes will be held in abeyance pending the outcome of the judicial review application against the SARS decision to register SFI as a South African taxpayer. The legal process is ongoing in this regard and a court date for the hearing of the application has been requested by SFI. On 5 February 2020, a law firm based in the US filed a security class action against Sasol Limited and five of its current and former executive directors. The action alleges that Sasol intentionally misled the markets regarding cost and schedule of the LCCP. Sasol is studying the action. From time to time, Sasol companies are involved in other litigation and similar proceedings in the normal course of business. A detailed assessment is performed on each matter and a provision is recognised where appropriate. Although the outcome of these proceedings and claims cannot be

Related party transactions

Related party transactions	6 Months Ended
	Dec. 31, 2019
Related party transactions
Related party transactions	Related party transactions The group, in the ordinary course of business, entered into various sale and purchase transactions on an arm’s length basis at market rates with related parties.

Significant events and transact

Significant events and transactions since 30 June 2019	6 Months Ended
	Dec. 31, 2019
Significant events and transactions since 30 June 2019
Significant events and transactions since 30 June 2019	Significant events and transactions since 30 June 2019 In accordance with IAS34 ‘Interim Financial Reporting’, we have included an explanation of events and transactions which are significant to obtain an understanding of the changes in our financial position and performance since 30 June 2019. A R936 million profit was recognised in relation to the disposal of our 50% equity interest in the Sasol Huntsman maleic anhydride joint venture as we continue to execute on our asset optimisation programme.

Subsequent events

Subsequent events	6 Months Ended
	Dec. 31, 2019
Subsequent events
Subsequent events	Subsequent events On 13 January 2020, an incident occurred at the LDPE unit. The investigation into the incident is complete. The root cause analysis determined that a piping support structure, within the LDPE emergency vent system, failed during commissioning causing a pipe to dislodge. No major equipment was damaged, and the incident was isolated. Remediation has commenced, however, the replacement of the high pressure piping material components have long lead times. We expect beneficial operation of the LDPE unit to be delayed to the second half of calendar year 2020. Parallel commissioning activities on the remainder of the LDPE unit continue during remediation and every effort will be made to expedite the restoration project. On 14 February 2020, we received approval from the Competition Commission of South Africa to form a new joint venture, which will be managed and operated by our world-class explosives partner and the majority shareholder, Enaex S.A. The downstream portion of our explosives business, classified as a disposal group held for sale since 30 June 2019, will be disposed to the joint venture as a going concern. The process is expected to close by the end of June 2020.

Financial instruments

Financial instruments	6 Months Ended
	Dec. 31, 2019
Financial instruments
Financial instruments	Financial instruments Fair value Fair value is determined using valuation techniques as outlined unless the instrument is listed in an active market. Where possible, inputs are based on quoted prices and other market determined variables. Fair value hierarchy The table below represents significant financial instruments measured at fair value at the reporting date, or for which fair value is disclosed at 31 December 2019. This includes the US dollar bonds, interest rate swap, ethane swap, embedded derivative and zero-cost foreign exchange collars which were considered to be significant financial instruments for the group based on the amounts recognised in the statement of financial position. The calculation of fair value requires various inputs into the valuation methodologies used. The source of the inputs used affects the reliability and accuracy of the valuations. Significant inputs have been classified into the hierarchical levels in line with IFRS 13. Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Inputs other than quoted prices that are observable for the asset or liability (directly or indirectly). Level 3 Inputs for the asset or liability that are unobservable. IFRS 13 fair value hierarchy Carrying value Fair value Instrument Rm Rm Valuation method Significant inputs Listed long-term debt Level 1 45 829 49 001 Fair value Quoted market price for the same or similar instruments Derivative financial assets and liabilities Level 2 (537) (537) Forward rate interpolator model, discounted expected cash flows, numerical approximation, as appropriate Foreign exchange rates, market commodity prices, US$ swap curve, as appropriate Derivative financial assets and liabilities¹ Level 3 (674) (674) Forward rate interpolator model, discounted expected cash flows, numerical approximation, as appropriate US PPI and US labour index forecast, US dollar and Rand treasury curves, Rand zero swap discount rate 1 Relates to the embedded derivative contained in the Oxygen Train 17 agreement with Air Liquide, IFRS 16 adoption impact of R624 million and R50 million fair value adjustment at 31 December 2019. For all other financial instruments, fair value approximates carrying value.

Basis of preparation (Policies)

Basis of preparation (Policies)	6 Months Ended
	Dec. 31, 2019
Significant accounting policies
Accounting policies followed in interim financial statements	The accounting policies applied in the preparation of these condensed consolidated interim financial statements are in terms of IFRS and are consistent with those applied in the consolidated annual financial statements for the year ended 30 June 2019, except for the adoption of IFRS 16 ’Leases’, and the Amendments to IFRS 9 'Financial Instruments', IAS 39 'Financial Instruments: Recognition and Measurement' and IFRS 7 'Financial Instruments: Disclosure', and IFRIC 23 'Uncertainty Over Income Tax Treatments' with effect from 1 July 2019.

Segment report (Tables)

Segment report (Tables)	6 Months Ended
	Dec. 31, 2019
Segment report
Schedule of segment information	Segment report for the period ended Turnover Earnings before interest and tax (EBIT) Full year Half year Half year Half year Half year Full year 30 Jun 19 31 Dec 18 31 Dec 19 31 Dec 19 31 Dec 18 30 Jun 19 Rm Rm Rm Segment analysis Rm Rm Rm 26 060 12 584 12 983 Operating Business Units 2 397 3 425 3 812 20 876 9 906 10 348 Mining 1 374 2 661 4 701 5 184 2 678 2 635 Exploration and Production International 1 023 764 (889) 200 912 101 403 98 781 Strategic Business Units 6 549 16 240 8 095 83 803 43 623 41 206 Energy 6 743 9 565 16 566 48 813 23 011 24 642 Base Chemicals (1 488) 3 076 (1 431) 68 296 34 769 32 933 Performance Chemicals 1 294 3 599 (7 040) 78 26 – Group Functions 907 1 126 (2 210) 227 050 114 013 111 764 Group performance 9 853 20 791 9 697 (23 474) (11 069) (12 594) Intersegmental turnover 203 576 102 944 99 170 External turnover
Schedule of revenue by major product line	Revenue by major product line Half year Half year Full year 31 Dec 19 31 Dec 18 30 Jun 19 Rm Rm Rm Base Chemicals 24 183 22 668 48 113 Polymers 13 974 12 346 25 864 Solvents 5 965 6 441 13 178 Fertilisers and explosives 2 240 2 333 4 718 Other base chemicals 2 004 1 548 4 353 Performance Chemicals 32 452 34 349 67 228 Organics 24 790 26 193 51 405 Waxes 3 927 4 387 8 474 Advanced materials 3 735 3 769 7 349 Upstream, Energy and Other Coal 906 1 826 3 222 Liquid fuels and crude oil 36 884 39 633 75 819 Gas (methane rich and natural gas) and condensate 3 134 2 991 5 986 Other (Technology, refinery services) 1 148 991 2 308 Revenue from contracts with customers 98 707 102 458 202 676 Revenue from other contracts (franchise rentals, use of fuel tanks and fuel storage) 463 486 900 Total external turnover 99 170 102 944 203 576

Salient features (Tables)

Salient features (Tables)	6 Months Ended
	Dec. 31, 2019
Salient features
Summary of other financial information	Salient features for the period ended Half year Half year Full year 31 Dec 19 31 Dec 18 30 Jun 19 Other financial information Total debt (including bank overdraft) Rm 155 610 131 578 138 636 interest-bearing Rm 155 546 130 800 137 691 non-interest-bearing Rm 64 778 945 Finance expense capitalised Rm 1 974 3 440 6 942 Capital commitments (subsidiaries and joint operations)¹ Rm 49 394 71 248 60 095 authorised and contracted Rm 217 047 187 515 212 848 authorised, not yet contracted Rm 37 827 53 163 43 097 less expenditure to date Rm (205 480) (169 430) (195 850) Capital commitments (equity accounted investments) Rm 1 957 1 018 1 283 authorised and contracted Rm 641 618 715 authorised, not yet contracted Rm 1 912 620 1 100 less expenditure to date Rm (596) (220) (532) Effective tax rate² % 40,7 24,1 34,2 Number of employees³ number 31 363 31 430 31 429 1 During FY19 a misstatement was identified in the calculation of the LCCP capital cost estimate that was included in the capital commitment disclosure as at 31 December 2018 and 30 June 2018. The misstatement related to the inaccurate estimation of the cost still to be incurred on the project. Accordingly, the capital commitments disclosure as at 31 December 2018 that were originally presented as R58 640 million has been revised by R12 608 million (US$878 million) to R71 248 million. Management concluded that the revision is not material to interim financial results. 2 Our effective corporate tax rate increased from 24,1% to 40,7%. The effective corporate tax rate is 12,7% higher than the South African corporate income tax rate of 28%, mainly due to non-deductible finance costs as a result of increased funding required for the LCCP and the increase in US tax losses at a lower US corporate income tax rate. The positive benefit of the lower US corporate income tax rate will dilute our effective corporate tax rate as soon as the LCCP is generating taxable profits. 3 The total number of employees includes permanent and non-permanent employees and the group’s share of employees within joint operations, but excludes contractors and equity accounted investments’ employees.
Summary of reconciliation of headline earnings	Half year Half year Full year 31 Dec 19 31 Dec 18 30 Jun 19 Rm Rm Rm Reconciliation of headline earnings Earnings attributable to owners of Sasol Limited 4 053 14 740 4 298 Effect of remeasurement items for subsidiaries and joint operations (169) (599) 18 645 Impairment of property, plant and equipment 464 2 14 161 Impairment of assets under construction – – 4 272 Impairment of goodwill and other intangible assets – – 18 Impairment of other assets 3 – – Reversal of impairment – (957) (949) Profit on disposal of business¹ (983) – (267) Profit on disposal of non-current assets (61) (27) (32) Scrapping of non-current assets 426 376 1 408 Write-off of unsuccessful exploration wells (18) 7 34 Tax effects and non-controlling interests (214) 168 (4 017) Effect of remeasurement items for equity accounted investments – 15 15 Headline earnings 3 670 14 324 18 941 Headline earnings adjustments by segment Mining 106 7 45 Exploration and Production International (18) 7 1 976 Energy (27) 122 247 Base Chemicals (352) (820) 3 190 Performance Chemicals 118 85 13 182 Group Functions 4 – 5 Remeasurement items (169) (599) 18 645 Headline earnings per share² Rand 5,94 23,25 30,72 Diluted headline earnings per share Rand 5,91 23,08 30,54 1 Mainly relates to R461 million profit on the disposal of our investment in Sasol Huntsman GmbH & co KG and the corresponding R475 million release of foreign currency translation reserve. 2 Headline earnings per share refers to disclosure made in terms of the JSE Limited Listing Requirements. The reader is referred to the definitions contained in the 2019 Sasol Limited financial statements.

Basis of preparation (Tables)

Basis of preparation (Tables)	6 Months Ended
	Dec. 31, 2019
Basis of preparation
Schedule of impact of adoption of IFRS 16	30 June IFRS 16 1 July 2019 Impact 2019 Rm Rm Rm Statement of financial position Assets Property, plant and equipment 233 549 (7 417) 226 132 Assets under construction 127 764 (71) 127 693 Right of use assets – 16 045 16 045 Goodwill and other intangible assets 3 357 – 3 357 Equity accounted investments 9 866 – 9 866 Post-retirement benefit assets 1 274 – 1 274 Deferred tax assets 8 563 – 8 563 Other long-term assets 7 580 (191) 7 389 Non-current assets 391 953 8 366 400 319 Assets in disposal groups held for sale 2 554 – 2 554 Inventories 29 646 – 29 646 Trade and other receivables 29 308 (13) 29 295 Short-term financial assets 630 – 630 Cash and cash equivalents 15 877 – 15 877 Current assets 78 015 (13) 78 002 Total assets 469 968 8 353 478 321 Equity and liabilities Shareholders’ equity 219 910 (290) 219 620 Non-controlling interests 5 885 – 5 885 Total equity 225 795 (290) 225 505 Long-term debt 127 350 (1 005) 126 345 Lease liabilities 7 445 7 933 15 378 Long-term provisions 17 622 – 17 622 Post-retirement benefit obligations 12 708 – 12 708 Long-term deferred income 924 (152) 772 Long-term financial liabilities 1 440 624 2 064 Deferred tax liabilities 27 586 (111) 27 475 Non-current liabilities 195 075 7 289 202 364 Liabilities in disposal groups held for sale 488 – 488 Short-term debt 3 783 1 383 5 166 Short-term financial liabilities 765 – 765 Other current liabilities 44 004 (29) 43 975 Bank overdraft 58 – 58 Current liabilities 49 098 1 354 50 452 Total equity and liabilities 469 968 8 353 478 321

Financial instruments (Tables)

Financial instruments (Tables)	6 Months Ended
	Dec. 31, 2019
Financial instruments
Schedule of financial instruments classified into the hierarchical levels in line with IFRS 13	IFRS 13 fair value hierarchy Carrying value Fair value Instrument Rm Rm Valuation method Significant inputs Listed long-term debt Level 1 45 829 49 001 Fair value Quoted market price for the same or similar instruments Derivative financial assets and liabilities Level 2 (537) (537) Forward rate interpolator model, discounted expected cash flows, numerical approximation, as appropriate Foreign exchange rates, market commodity prices, US$ swap curve, as appropriate Derivative financial assets and liabilities¹ Level 3 (674) (674) Forward rate interpolator model, discounted expected cash flows, numerical approximation, as appropriate US PPI and US labour index forecast, US dollar and Rand treasury curves, Rand zero swap discount rate 1 Relates to the embedded derivative contained in the Oxygen Train 17 agreement with Air Liquide, IFRS 16 adoption impact of R624 million and R50 million fair value adjustment at 31 December 2019. For all other financial instruments, fair value approximates carrying value.

Segment report - Segment inform

Segment report - Segment information (Details) - ZAR (R) R in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Income Statement
Turnover	R 99,170	R 102,944	R 203,576
Earnings before interest and tax (EBIT)	9,853	20,791	9,697
Operating Business Units
Income Statement
Earnings before interest and tax (EBIT)	2,397	3,425	3,812
Mining
Income Statement
Earnings before interest and tax (EBIT)	1,374	2,661	4,701
Exploration and Production International
Income Statement
Earnings before interest and tax (EBIT)	1,023	764	(889)
Strategic Business Units
Income Statement
Earnings before interest and tax (EBIT)	6,549	16,240	8,095
Energy
Income Statement
Earnings before interest and tax (EBIT)	6,743	9,565	16,566
Base Chemicals
Income Statement
Earnings before interest and tax (EBIT)	(1,488)	3,076	(1,431)
Performance Chemicals
Income Statement
Earnings before interest and tax (EBIT)	1,294	3,599	(7,040)
Group Functions
Income Statement
Earnings before interest and tax (EBIT)	907	1,126	(2,210)
Group performance
Income Statement
Turnover	111,764	114,013	227,050
Group performance | Operating Business Units
Income Statement
Turnover	12,983	12,584	26,060
Group performance | Mining
Income Statement
Turnover	10,348	9,906	20,876
Group performance | Exploration and Production International
Income Statement
Turnover	2,635	2,678	5,184
Group performance | Strategic Business Units
Income Statement
Turnover	98,781	101,403	200,912
Group performance | Energy
Income Statement
Turnover	41,206	43,623	83,803
Group performance | Base Chemicals
Income Statement
Turnover	24,642	23,011	48,813
Group performance | Performance Chemicals
Income Statement
Turnover	32,933	34,769	68,296
Group performance | Group Functions
Income Statement
Turnover		26	78
Intersegmental turnover
Income Statement
Turnover	R (12,594)	R (11,069)	R (23,474)

Segment report - Revenue by maj

Segment report - Revenue by major product line (Details) - ZAR (R) R in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Income Statement
Revenue from contracts with customers	R 98,707	R 102,458	R 202,676
Revenue from other contracts (franchise rentals, use of fuel tanks and fuel storage)	463	486	900
Total external turnover	99,170	102,944	203,576
Base Chemicals
Income Statement
Revenue from contracts with customers	24,183	22,668	48,113
Polymers
Income Statement
Revenue from contracts with customers	13,974	12,346	25,864
Solvents
Income Statement
Revenue from contracts with customers	5,965	6,441	13,178
Fertilisers and explosives
Income Statement
Revenue from contracts with customers	2,240	2,333	4,718
Other base chemicals
Income Statement
Revenue from contracts with customers	2,004	1,548	4,353
Performance Chemicals
Income Statement
Revenue from contracts with customers	32,452	34,349	67,228
Organics
Income Statement
Revenue from contracts with customers	24,790	26,193	51,405
Waxes
Income Statement
Revenue from contracts with customers	3,927	4,387	8,474
Advanced materials
Income Statement
Revenue from contracts with customers	3,735	3,769	7,349
Coal
Income Statement
Revenue from contracts with customers	906	1,826	3,222
Liquid fuels and crude oil
Income Statement
Revenue from contracts with customers	36,884	39,633	75,819
Gas (methane rich and natural gas) and condensate
Income Statement
Revenue from contracts with customers	3,134	2,991	5,986
Other (Technology, refinery services)
Income Statement
Revenue from contracts with customers	R 1,148	R 991	R 2,308

Segment report - Mining Segment

Segment report - Mining Segment (Details) R in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2020MT	Dec. 31, 2019ZAR (R)itemR / T	Dec. 31, 2018ZAR (R)	Jun. 30, 2020R / T	Jun. 30, 2019ZAR (R)
Disclosure of operating segments
EBIT | R		R 9,853	R 20,791		R 9,697
Mining
Disclosure of operating segments
Increase (decrease) in productivity (as a percent)		(7.00%)
Number of fatalities at Thubelisha Colliery | item		2
Increase (decrease) in EBIT (as a percent)		(48.00%)
EBIT | R		R 1,374	R 2,661		R 4,701
Increase (decrease) in external sales volume (as a percent)		(19.00%)
Increase (decrease) in normalised unit cost (as a percent)		15.00%
Normalised unit cost		343
Mining | Forecast | Minimum
Disclosure of operating segments
External coal purchases | MT	1.3
Normalised unit cost				330
Mining | Forecast | Maximum
Disclosure of operating segments
External coal purchases | MT	1.6
Normalised unit cost				350

Segment report - Exploration an

Segment report - Exploration and Production International Segment (Details) R in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Jun. 30, 2020Bcf	Jun. 30, 2019ZAR (R)
Disclosure of operating segments
EBIT	R 9,853	R 20,791		R 9,697
Exploration and Production International
Disclosure of operating segments
Increase (decrease) in EBIT (as a percent)	34.00%
EBIT	R 1,023	764		R (889)
Exploration and Production International | Mozambique
Disclosure of operating segments
Increase (decrease) in EBIT (as a percent)	12.00%
EBIT	R 1,400
Exploration and Production International | Mozambique | Forecast | Minimum
Disclosure of operating segments
Gas production volumes | Bcf			114
Exploration and Production International | Mozambique | Forecast | Maximum
Disclosure of operating segments
Gas production volumes | Bcf			118
Exploration and Production International | Gabon
Disclosure of operating segments
Increase (decrease) in EBIT (as a percent)	(66.00%)
EBIT	R 113
Exploration and Production International | Canada
Disclosure of operating segments
EBIT	R (142)	R (366)

Segment report - Energy Segment

Segment report - Energy Segment (Details) R in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019ZAR (R)item	Dec. 31, 2018ZAR (R)	Jun. 30, 2020item	Jun. 30, 2019ZAR (R)
Disclosure of operating segments
EBIT	R 9,853	R 20,791		R 9,697
Energy
Disclosure of operating segments
Increase (decrease) in EBIT (as a percent)	(30.00%)
EBIT	R 6,743	R 9,565		R 16,566
Increase (decrease) in cash fixed cost (as a percent)	9.00%
Number of new retail convenience centres opened | item	3
Energy | Forecast
Disclosure of operating segments
Number of new retail convenience centres targeted | item			10
Energy | ORYX GTL
Disclosure of operating segments
Increase (decrease) in liquid fuels production volumes (as a percent)	(1.00%)
EBIT	R 701
Utilization rate (as a percent)	98.00%
Increase (decrease) in EBIT	R (255)
Energy | ORYX GTL | Forecast | Minimum
Disclosure of operating segments
Utilization rate (as a percent)			55.00%
Energy | ORYX GTL | Forecast | Maximum
Disclosure of operating segments
Utilization rate (as a percent)			60.00%
Energy | Natref
Disclosure of operating segments
Increase (decrease) in liquid fuels production volumes (as a percent)	(8.00%)
Energy | Natural gas
Disclosure of operating segments
Increase (decrease) in external sales volume (as a percent)	(2.00%)
Energy | Secunda Synfuels Operations
Disclosure of operating segments
Increase (decrease) in liquid fuels feedstock production volumes (as a percent)	5.00%

Segment report - Performance ch

Segment report - Performance chemicals Segment (Details) R in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Dec. 31, 2019kT	Sep. 30, 2019kT	Jun. 30, 2019kT	Dec. 31, 2019ZAR (R)kT	Dec. 31, 2018ZAR (R)	Jun. 30, 2019ZAR (R)
Disclosure of operating segments
EBIT				R 9,853	R 20,791	R 9,697
Lake Charles Chemicals Project (LCCP)
Disclosure of operating segments
EBIT				R (2,800)
Performance Chemicals
Disclosure of operating segments
Increase (decrease) in external sales volume (as a percent)				6.00%
Increase (decrease) in EBIT (as a percent)				(64.00%)
EBIT				R 1,294	R 3,599	R (7,040)
Performance Chemicals | Lake Charles Chemicals Project (LCCP)
Disclosure of operating segments
EBIT				R 1.6
Performance Chemicals | EO/EG value chain
Disclosure of operating segments
Realised sales volume | kT	74	70	37	144
Performance Chemicals | Projects excluding LCCP project
Disclosure of operating segments
Increase (decrease) in external sales volume (as a percent)				(5.00%)
Performance Chemicals | Organics
Disclosure of operating segments
Increase (decrease) in external sales volume (as a percent)				(3.00%)

Segment report - Base chemicals

Segment report - Base chemicals Segment (Details) R in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019ZAR (R)kT	Dec. 31, 2018ZAR (R)kT	Jun. 30, 2019ZAR (R)
Disclosure of operating segments
EBIT	R 9,853	R 20,791	R 9,697
Gains (losses) on disposals of investments	983		267
Sasol Huntsman GmbH & co KG
Disclosure of operating segments
Gains (losses) on disposals of investments	R 936
Disposal of equity interest (as a percent)	50.00%
Lake Charles Chemicals Project (LCCP)
Disclosure of operating segments
EBIT	R (2,800)
Base Chemicals
Disclosure of operating segments
Increase (decrease) in foundation business sales volumes (excluding Polymers US products) (as a percent)	1.00%
Increase (decrease) in external sales volume (as a percent)	21.00%
Increase (decrease) in average sales basket price	(15.00%)
EBIT	R (1,488)	R 3,076	R (1,431)
Base Chemicals | Blends and Mining Chemicals and Methyl Isobutyl Ketone (MIBK)
Disclosure of operating segments
Impairment charges	R 464
Base Chemicals | Polymer US
Disclosure of operating segments
Increase (decrease) in average sales basket price	(40.00%)
Realised sales volume | kT	469	116
Base Chemicals | Sasol Huntsman GmbH & co KG
Disclosure of operating segments
Gains (losses) on disposals of investments	R 936
Disposal of equity interest (as a percent)	50.00%
Base Chemicals | Lake Charles Chemicals Project (LCCP)
Disclosure of operating segments
EBIT	R (1,200)

Salient features - Other financ

Salient features - Other financial information (Details) R in Millions, $ in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019ZAR (R)employee	Dec. 31, 2018ZAR (R)	Jun. 30, 2019ZAR (R)employee	Dec. 31, 2018USD ($)employee	Dec. 31, 2018ZAR (R)employee
Other financial information
Total debt (including bank overdraft)	R 155,610		R 138,636		R 131,578
interest-bearing debt	155,546		137,691		130,800
non-interest-bearing debt	64		945		R 778
Finance expense capitalised	R 1,974	R 3,440	R 6,942
Effective tax rate	40.70%	24.10%	34.20%
Number of employees | employee	31,363		31,429	31,430	31,430
Difference between effective corporate tax rate and South African corporate income tax rate	12.70%
South Africa
Other financial information
Applicable tax rate	28.00%
Subsidiaries and joint operations
Other financial information
Total capital commitments	R 49,394		R 60,095		R 71,248
authorised and contracted	217,047		212,848		187,515
authorised, not yet contracted	37,827		43,097		53,163
less expenditure to date	(205,480)		(195,850)		(169,430)
Subsidiaries and joint operations | Originally presented
Other financial information
Total capital commitments					58,640
Subsidiaries and joint operations | Increase due to review of forecast
Other financial information
Total capital commitments				$ 878	12,608
Equity accounted investments
Other financial information
Total capital commitments	1,957		1,283		1,018
authorised and contracted	641		715		618
authorised, not yet contracted	1,912		1,100		620
less expenditure to date	R (596)		R (532)		R (220)

Salient features - Reconciliati

Salient features - Reconciliation of headline earnings (Details) - ZAR (R) R / shares in Units, R in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Salient features
Earnings attributable to owners of Sasol Limited	R 4,053	R 14,740	R 4,298
Effect of remeasurement items for subsidiaries and joint operations	(169)	(599)	18,645
Reversal of impairment		(957)	(949)
Profit on disposal of business	(983)		(267)
Profit on disposal of non-current assets	(61)	(27)	(32)
Scrapping of non-current assets	426	376	1,408
Write-off of unsuccessful exploration wells	(18)	7	34
Tax effects and non-controlling interests	(214)	168	(4,017)
Effect of remeasurement items for equity accounted investments		15	15
Headline earnings	R 3,670	R 14,324	R 18,941
Headline earnings per share (HEPS)
Headline earnings per share (in rand per share)	R 5.94	R 23.25	R 30.72
Diluted headline earnings per share (in rand per share)	R 5.91	R 23.08	R 30.54
Sasol Huntsman GmbH & co KG
Salient features
Profit on disposal of business	R (936)
Headline earnings per share (HEPS)
Profit on disposal of investments	461
Release of foreign currency translation reserve	475
Mining
Salient features
Effect of remeasurement items for subsidiaries and joint operations	106	R 7	R 45
Exploration and Production International
Salient features
Effect of remeasurement items for subsidiaries and joint operations	(18)	7	1,976
Energy
Salient features
Effect of remeasurement items for subsidiaries and joint operations	(27)	122	247
Base Chemicals
Salient features
Effect of remeasurement items for subsidiaries and joint operations	(352)	(820)	3,190
Base Chemicals | Sasol Huntsman GmbH & co KG
Salient features
Profit on disposal of business	(936)
Performance Chemicals
Salient features
Effect of remeasurement items for subsidiaries and joint operations	118	85	13,182
Group Functions
Salient features
Effect of remeasurement items for subsidiaries and joint operations	4		5
Property, plant and equipment
Salient features
Impairment loss	464	R 2	14,161
Assets under construction
Salient features
Impairment loss			4,272
Goodwill and other intangible assets
Salient features
Impairment loss			R 18
Other assets
Salient features
Impairment loss	R 3

Basis of preparation - Leases (

Basis of preparation - Leases (Details)	Jun. 30, 2019
South Africa | Minimum
Disclosure of initial application of standards or interpretations
Incremental borrowing rate	8.20%
South Africa | Maximum
Disclosure of initial application of standards or interpretations
Incremental borrowing rate	11.50%
Eurasia | Minimum
Disclosure of initial application of standards or interpretations
Incremental borrowing rate	0.90%
Eurasia | Maximum
Disclosure of initial application of standards or interpretations
Incremental borrowing rate	8.10%
United States of America | Minimum
Disclosure of initial application of standards or interpretations
Incremental borrowing rate	3.70%
United States of America | Maximum
Disclosure of initial application of standards or interpretations
Incremental borrowing rate	5.60%

Basis of preparation - Impact o

Basis of preparation - Impact of the adoption of IFRS 16 (Details) - ZAR (R) R in Millions		Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Assets
Property, plant and equipment	[1]	R 282,349	R 233,549	R 181,552
Assets under construction	[2]	83,474	127,764	184,007
Right of use assets	[3]	16,475
Goodwill and other intangible assets		3,299	3,357	2,792
Equity accounted investments		10,276	9,866	10,961
Post-retirement benefit assets		1,151	1,274	1,292
Deferred tax assets	[4]	9,686	8,563	4,302
Other long-term assets		7,181	7,580	7,223
Non-current assets		413,891	391,953	392,129
Assets in disposal groups held for sale		1,302	2,554	136
Inventories		30,475	29,646	31,203
Trade and other receivables		25,724	29,308	30,515
Short-term financial assets	[5]	2,279	630	2,602
Cash and cash equivalents		12,674	15,877	15,876
Current assets		72,454	78,015	80,332
Total assets		486,345	469,968	472,461
Equity and liabilities
Shareholders' equity		222,645	219,910	235,997
Non-controlling interests		6,001	5,885	6,241
Total equity		228,646	225,795	242,238	R 228,608
Long-term debt		121,287	127,350	114,013
Lease liabilities	[3]	15,939	7,445	7,216
Long-term provisions		17,974	17,622	15,621
Post-retirement benefit obligations		12,850	12,708	12,141
Long-term deferred income		560	924	850
Long-term financial liabilities	[6]	2,142	1,440	433
Deferred tax liabilities	[4]	28,791	27,586	28,773
Non-current liabilities		199,543	195,075	179,047
Liabilities in disposal groups held for sale		411	488	44
Short-term debt	[7]	18,380	3,783	10,243
Short-term financial liabilities		1,348	765	1,264
Other current liabilities	[8]	38,013	44,004	39,519
Bank overdraft		4	58	106
Current liabilities		58,156	49,098	51,176
Total equity and liabilities		R 486,345	469,968	R 472,461
IFRS 16 Impact
Assets
Property, plant and equipment			(7,417)
Assets under construction			(71)
Right of use assets			16,045
Other long-term assets			(191)
Non-current assets			8,366
Trade and other receivables			(13)
Current assets			(13)
Total assets			8,353
Equity and liabilities
Shareholders' equity			(290)
Total equity			(290)
Long-term debt			(1,005)
Lease liabilities			7,933
Long-term deferred income			(152)
Long-term financial liabilities			624
Deferred tax liabilities			(111)
Non-current liabilities			7,289
Short-term debt			1,383
Other current liabilities			(29)
Current liabilities			1,354
Total equity and liabilities			8,353
After application of IFRS 16
Assets
Property, plant and equipment			226,132
Assets under construction			127,693
Right of use assets			16,045
Goodwill and other intangible assets			3,357
Equity accounted investments			9,866
Post-retirement benefit assets			1,274
Deferred tax assets			8,563
Other long-term assets			7,389
Non-current assets			400,319
Assets in disposal groups held for sale			2,554
Inventories			29,646
Trade and other receivables			29,295
Short-term financial assets			630
Cash and cash equivalents			15,877
Current assets			78,002
Total assets			478,321
Equity and liabilities
Shareholders' equity			219,620
Non-controlling interests			5,885
Total equity			225,505
Long-term debt			126,345
Lease liabilities			15,378
Long-term provisions			17,622
Post-retirement benefit obligations			12,708
Long-term deferred income			772
Long-term financial liabilities			2,064
Deferred tax liabilities			27,475
Non-current liabilities			202,364
Liabilities in disposal groups held for sale			488
Short-term debt			5,166
Short-term financial liabilities			765
Other current liabilities			43,975
Bank overdraft			58
Current liabilities			50,452
Total equity and liabilities			R 478,321
[1]	Includes assets under construction capitalised of R69 billion and depreciation for the period of R10 billion
[2]	Actual capital expenditure, including accruals, amounted to R21 billion. This includes R10 billion (US$0.7 billion) relating to the LCCP. R69 billion was capitalised to property, plant and equipment, including R55 billion relating to the LCCP
[3]	Refer to page 15 for the impact of the adoption of IFRS 16 ‘Leases’
[4]	Deferred tax assets and liabilities are determined based on the tax status and rates of the underlying entities. The increase in deferred tax assets relate to our US Operations.
[5]	Fair value period end adjustments, mainly the zero-cost foreign exchange collars
[6]	Includes R674 million relating to an embedded derivative contained in the Oxygen Train 17 agreement with Air Liquide, which was recognised as a Finance Lease under IAS 17. With the adoption of IFRS 16 the agreement is recognised as a service agreement
[7]	Short-term debt includes R14 billion relating to the US$1 billion syndicated loan facility raised in November 2019.
[8]	The movement mainly relates to the R3.9 billion decrease in capital project related payables as the LCCP nears completion

Litigation and contingency (Det

Litigation and contingency (Details) R in Millions	Feb. 05, 2020item	Dec. 31, 2019ZAR (R)
Tax contingent liability
Contingent liabilities
Estimated financial effect of contingent liabilities | R		R 2,460
Class action in relation to LCCP
Contingent liabilities
Number of current and former executive directors against whom class action filed | item	5

Significant events and transa_2

Significant events and transactions since 30 June 2019 (Details) - ZAR (R) R in Millions	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Significant events and transactions
Gain from disposal of equity interest	R 983	R 267
Sasol Huntsman GmbH & co KG
Significant events and transactions
Gain from disposal of equity interest	R 936
Disposal of equity interest (as a percent)	50.00%

Financial instruments (Details)

Financial instruments (Details) - ZAR (R) R in Millions	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Air Liquide
Financial instruments
Loss on fair value adjustment	R 50
IFRS 16 Impact | Air Liquide
Financial instruments
Derivative financial assets and liabilities - carrying value		R (624)
Derivatives | Level 2
Financial instruments
Derivative financial assets and liabilities - carrying value	(537)
Derivative financial assets and liabilities - fair value	(537)
Derivatives | Level 3
Financial instruments
Derivative financial assets and liabilities - carrying value	(674)
Derivative financial assets and liabilities - fair value	(674)
Listed long-term debt | Level 1
Financial instruments
Financial liabilities - carrying value	45,829
Financial liabilities - fair value	R 49,001