Integrated_Annual_Report_2026 - Flipbook - Page 73
DRIVING SUSTAINABLE
VALUE CREATION
SASOL AT A
GLANCE
INTRODUCTION
EXECUTING
STRATEGY
DELIVERING
BUSINESS VALUE
SUMMARISED FINANCIAL
PERFORMANCE
CORPORATE
GOVERNANCE
SUSTAINABILITY
REPORT
REMUNERATION
REPORT
ASSURANCE /
ADMINISTRATION
PERFORMANCE OVERVIEW CONTINUED
For the year ended 30 June
2026
Rm
2025
Rm
2024
Rm
272 118
249 096
275 111
Turnover
R272 billion
Turnover
Earnings
Materials, energy and consumables used
(138 032)
(129 141)
(137 957)
R14 billion
Selling and distribution costs
(9 468)
(9 579)
(10 394)
Maintenance expenditure
(14 863)
(15 524)
(15 446)
Employee-related expenditure
(36 787)
(35 298)
(35 465)
Depreciation and amortisation
(13 602)
(14 002)
(15 644)
Other expenses and income
(16 435)
(8 711)
(13 854)
79
1 623
1 758
Operating profit before remeasurement items
43 010
38 464
48 109
Remeasurement items affecting operating profit
(17 320)
(19 645)
(75 414)
Earnings/(loss) before interest and tax (EBIT/(LBIT))
25 690
18 819
(27 305)
Loss on remeasurement items of
R17 billion
Equity accounted profits, net of tax
Headline earnings per share
Year
26
38,31
25
18,19
24
18,19
35,13
23
53,75
22
47,58
0
10
20
30
40
50
60
Finance income
2 329
2 925
3 226
Finance costs
(9 412)
(9 462)
(10 427)
Earnings/(loss) before tax
18 607
12 282
(34 506)
Taxation
(4 149)
(4 556)
(9 739)
Earnings/(loss) for the year
14 458
7 726
(44 245)
Owners of Sasol Limited
12 149
6 767
(44 271)
Non-controlling interests in subsidiaries
2 309
959
26
14 458
7 726
(44 245)
Attributable to
Rand per share
HEPS increased from R35,13 in 2025 to R38,31 in
2026 mainly due the increase in adjusted EBITDA,
offset by discount rate impact on rehabilitation
provision, unrealised translation loss compared to gain
in the prior year, and increase in minority interest
earnings
Rand
Rand
Rand
Basic earnings/(loss) per share
18,99
10,60
(69,94)
Diluted earnings/(loss) per share
18,73
10,54
(69,94)
Earnings per share (EPS)
Year
Per share information
18,99
26
10,60
25
24
(69.94)
23
14.00
22
62.34
(60)
(40)
(20)
0
20
40
60
Rand per share
EPS increased from R10,60 in 2025 to R18,99 in
2026 due to the abovementioned increase in HEPS
and lower remeasurement items after tax.
Commentary
Turnover
Turnover increased by 9% compared to the prior year, mainly
due to a 4% increase in sales volumes, a 7% increase in the
average US$ per barrel Brent crude oil price, and higher
refining margins and fuel differentials supported by the Middle
East conflict in quarter 4 of 2026. Turnover was further
impacted by higher sales basket prices in Chemicals Africa
(1%) and Chemicals Eurasia (13%), offset by lower basket price
in America (-5%), These benefits were partly offset by a 7%
stronger Rand/US dollar exchange rate
Materials, energy and consumables used
Materials, energy and consumables used increased as a
result of the abovementioned increase in sales volumes,
and stronger average Rand/US$ exchange rate, higher
Eskom utility costs and escalation in legislated carbon tax
rates leading to higher carbon costs. Prior year included
a R3,9 billion reduction relating to a non-recurring legal
settlement received from Transnet
Other expenses and income
Other expenses and income increased compared to the
prior year mainly due to higher translation losses with the
strengthening of the Rand, and lower other income compared
to prior year. During the prior year, Sasol and Transnet
concluded a legal settlement agreement, with R1,6 billion
recognised in Other income. The prior year also included
R1,3 billion insurance proceeds in Chemicals America from the
US East Cracker fire incident that occurred in March 2024.
Equity accounted profits, net of tax
Equity accounted profits decreased by 95% resulting from a
decrease in ORYX GTL earnings, with the Middle East conflict
resulting in the shutdown of Oryx’s GTL facility in March
2026. One train has since started up in July 2026 and the
other in August 2026.
Remeasurement items
Total impairments of R16,8 billion were 19% lower than
the R20,7 billion in the prior year, and related mainly to the
Secunda liquid fuels refinery cash generating units (CGU)
(R7,7 billion), the Polyethylene CGU (R3,7 billion) and the
Production Sharing Agreement (PSA) development in
Mozambique (R3,8 billion). While management actions
improved the recoverable amount of the Secunda CGU, these
benefits were offset by the stronger forecast Rand/US$
exchange rate.
Taxation
Our effective corporate tax rate decreased from 37,1% at 30
June 2025 to 22,3% at 30 June 2026. The decrease was
mainly due to the lower Italy Care Chemicals CGU impairment
recognised in 2026, Sasol Italy tax losses incurred for which
no deferred tax assets are recognised as it is no longer
considered probable that sufficient future taxable income
will be available in the foreseeable future to fully utilise these
losses, and Section 12L allowances claimed in South Africa
relating to prior years.
SASOL INTEGRATED REPORT 2026
72
