SASOL Integrated Report 2025_Final_28 August 2025 - Flipbook - Page 57
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
PORTFOLIOS
ESG
REMUNERATION REPORT
DATA AND ASSURANCE / ADMINISTRATION
INCOME STATEMENT
For the year ended 30 June
Turnover
R249 billion
Turnover
Materials, energy and consumables used
Selling and distribution costs
Maintenance expenditure
Employee-related expenditure
Depreciation and amortisation
Other expenses and income
Equity accounted profits, net of tax
Earnings
R8 billion
Loss on remeasurement items of
R19,6 billion
Headline earnings per share
35,13
Year
25
18,19
24
23
53,75
22
47,58
21
2025
Rm
2024
Rm
2023
Rm
249 096
(129 141)
(9 579)
(15 524)
(35 298)
(14 002)
(8 711)
1 623
275 111
(137 957)
(10 394)
(15 446)
(35 465)
(15 644)
(13 854)
1 758
289 696
(152 297)
(10 470)
(15 076)
(33 544)
(16 491)
(9 023)
2 623
10
20
30
40
50
60
Rand per share
HEPS increased from R18,19 to R35,13 in 2025 due to
prior year including the partial derecognition of the US
deferred tax asset, an increase in Chemicals margins and
cost savings. This was offset by the impact of lower
rand-oil, refining margin, product differentials and sales
volumes compared to FY24.
Turnover
Turnover decreased by 9% compared to the prior year, largely
due to a 15% decline in the Rand oil price, significant reductions
in refining margins and fuel price differentials, along with 3%
lower sales volumes.
Materials, energy and consumables used
Decrease includes a R3,9 billion reduction in the current year
relating to compensation received from Transnet.
Other expenses and income
Other expenses and income decreased compared to the prior
year mainly due to lower gains on the valuation of derivative
contracts, as well as translation losses relating to effect of
the strengthening of the rand on the translation of foreign
operations and intergroup exposure on foreign currency loans
compared to translation gains in the prior year. Other income
increased with R1,6 billion in the current year relating to a
settlement received from Transnet.
Operating profit before remeasurement
items
Remeasurement items affecting operating
profit
38 464
48 109
55 418
(19 645)
(75 414)
(33 898)
Earnings/(loss) before interest and tax
(EBIT/(LBIT))
Finance income
Finance costs
18 819
2 925
(9 462)
(27 305)
3 226
(10 427)
21 520
2 253
(9 259)
Earnings/(loss) before tax
Taxation
12 282
(4 556)
(34 506)
(9 739)
14 514
(5 181)
Earnings/(loss) for the year
7 726
(44 245)
9 333
Attributable to
Owners of Sasol Limited
Non-controlling interests in subsidiaries
6 767
959
(44 271)
26
8 799
534
7 726
(44 245)
9 333
• At 30 June 2025 the Italy Care Chemicals CGUs of R3,3
billion was fully impaired. This was offset by the reversal of
impairment for the China Care Chemicals CGU of R1,2 billion;
Rand
Rand
Rand
• Mozambican assets were impaired at 30 June 2025, with
the Production Sharing Agreement (PSA) of R3,1 billion and
Exploration Block PT5-C of R1,2 billion;
Basic earnings/(loss) per share
10,60
(69,94)
14,00
Diluted earnings/(loss) per share
10,54
(69,94)
13,02
39,53
0
Commentary
Per share information
Earnings before interest and tax
EBIT of R18,8 billion was incurred compared to the prior year LBIT of R27,3 billion, mainly due to decreased
impairment of assets, disciplined cost and capital management and keeping cash fixed cost increases
below inflation. EBIT was negatively impacted by a 15% decline in the Rand oil price, significant reductions
in refining margins and fuel price differentials, along with 3% lower sales volumes. EBIT were further
supported by non-recurring items, including the Transnet settlement of R5,5 billion and the reduction in
the environmental rehabilitation provision of R2,9 billion, offset by lower unrealised gains of R2 billion
from the translation of monetary assets and liabilities and revaluation of derivatives (compared to
R4,7 billion the prior year).
SASOL INTEGRATED REPORT 2025
56
Equity accounted profits, net of tax
Equity accounted profits decreased by 8% resulting from a
decrease in ORYX GTL earnings. This was driven by unfavourable
macroeconomic impacts, insurance proceeds received in the prior
year relating to the fire at the Air Separation Unit 2 during June
2023, and an increase in depreciation, partly offset by higher
production following the extended shutdown of both Trains in
FY24.
Remeasurement items
Remeasurement items affecting the 2025 operating loss include
the following impairments:
• A total of R0,8 billion relating to the Chemicals Africa ChlorAlkali and Polyvinyl Chloride, and South African Wax value
chain CGUs. The South African Wax value chain CGU remains
fully impaired;
• Sasolburg liquid fuels refinery CGU of R1,3 billion; the CGU
remains fully impaired; and
• Secunda liquid fuels refinery CGU of R11,8bn; the CGU remains
fully impaired.
Taxation
Our effective corporate tax rate increased from (28,2)% at
30 June 2024 to 37,1% at 30 June 2025. The increase was mainly
as a result of the non-deductible expenses incurred not deemed
to be in the production of taxable income, non-deductible
impairments, as well as the reversal of Sasol Italy’s deferred tax
asset previously recognised on historical tax losses, as well as
current tax losses, as it is no longer considered probable that
sufficient future taxable income will be available in the
foreseeable future to fully utilise these losses.
