SASOL Integrated Report 2025_Final_28 August 2025 - Flipbook - Page 56
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
PORTFOLIOS
ESG
REMUNERATION REPORT
DATA AND ASSURANCE / ADMINISTRATION
STATEMENT OF FINANCIAL POSITION
At 30 June
Non-current assets
R229 billion
Current assets
R130 billion
Total assets
R360 billion
Return on invested capital (ROIC)
25
20
15
10
5
0
(5)
(10)
(15)
(20)
18 21
8
%
7
5
6
5
(13)
21
22
23
Year
Including AUC
6
(15)
24
25
Excluding AUC
The increase in ROIC for 2025 is a result of the
lower impairment of assets compared to FY24.
Net debt to EBITDA
25
1,6
Year
24
1,5
1,3
23
1,1
22
1,9
21
0,0
0,5
Rm
2024
Reclassified*
Rm
158 041
11 834
2 350
12 959
3 008
1 083
3 543
780
35 803
229 401
41 793
1 557
40 086
5 615
41 050
130 101
53
359 555
163 589
12 351
2 462
14 742
2 536
910
4 030
446
37 193
238 259
40 719
456
36 533
3 532
45 383
126 623
98
364 980
152 427
5 184
157 611
88 554
15 177
12 949
12 121
229
–
3 478
132 508
16 940
3 757
636
47 411
625
66
1
69 436
359 555
143 005
4 422
147 427
103 871
15 173
14 396
11 356
446
510
5 205
150 957
15 990
4 750
1 108
44 198
320
109
121
66 596
364 980
2025
1,0
time
1,5
2,0
Net debt: EBITDA ratio of 1,6 times has increased
from 1,5 times at 30 June 2024 due to lower adjusted
EBITDA, partly offset by lower debt. Net debt has
decreased due to a stronger R/US$ closing exchange
rate and positive cash generation. Adjusted EBITDA
is lower than prior year mainly as a result of lower
rand-oil, refining margin, product differentials and
sales volumes compared to FY24, partly offset by an
increase in Chemicals margins and cost savings.
Assets
Property, plant and equipment
Right of use assets
Goodwill and other intangible assets
Equity accounted investments
Other long-term investments
Post-retirement benefit assets
Long-term receivables and prepaid expenses
Long-term financial assets
Deferred tax assets
Non-current assets
Inventories
Tax receivable
Trade and other receivables
Short-term financial assets
Cash and cash equivalents
Current assets
Assets in disposal groups held for sale
Total assets
Equity and liabilities
Shareholders’ equity
Non-controlling interests
Total equity
Long-term debt*
Lease liabilities
Long-term provisions
Post-retirement benefit obligations
Long-term deferred income
Long-term financial liabilities*
Deferred tax liabilities
Non-current liabilities
Short-term debt*
Short-term provisions
Tax payable
Trade and other payables
Short-term deferred income
Short-term financial liabilities*
Bank overdraft
Current liabilities
Total equity and liabilities
* Prior year numbers have been reclassified on adoption of the amendments to IAS 1, refer note 1.
SASOL INTEGRATED REPORT 2025
55
Commentary
Property, plant and equipment
Additions to property, plant and equipment amounted to
R25,4 billion and current year depreciation amounted to
R11,2 billion. Asset impairments in 2025 amounted to R20,2 billion
which is significantly lower than 2024. Refer to Remeasurement
items under the Income statement for detail of the impairments.
Inventories
The year-on-year increase in inventories mainly relates to higher
maintenance materials stock volumes on hand at June 2025
compared to June 2024.
Trade and other receivables
The year-on-year increase in trade and other receivables is mainly
due to higher sales volumes in quarter 4 of the current year and
proceeds on disposal of Uzbekistan GTL that reached specified
capacity per the sales agreement.
Short-term financial assets
Short-term financial liabilities increased compared to the prior year
mainly due to forward exchange contracts and other derivative
financial instruments that were in the money during the year, as
well as an increase in investments in equity and bonds.
Debt
Our total debt was R103,3 billion compared to R117,8 billion at
30 June 2024, with approximately R97,3 billion (US$5,5 billion)
denominated in US dollar. The stronger closing rand/US dollar
exchange rate had a R2,4 billion (decrease) impact on the debt
balance. At 30 June 2025, gearing was 54% (30 June 2024: 64%)
and Net debt: EBITDA was 1,6 times (30 June 2024: 1,5 times).
Short-term debt
The current year short-term debt balance consists mainly of accrued
interest, as well as the short-term portion of the convertible bond.
Trade and other payables
Trade and other payables increased compared to the prior year due
to higher material and utility cost.
Long-term and short-term financial liabilities
Short-term financial liabilities decreased compared to the prior year
mainly due to a decrease in the embedded derivative related to the
convertible bond per the latest valuation report, as well as foreign
exchange differences in the Oxygen supply contract embedded
derivative.
