Sasol Integrated Report 2023 - Book - Page 48
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
CREATING VALUE
PERFORMANCE
GOVERNANCE AND REWARDS
ADMINISTRATION
PERFORMANCE OVERVIEW // PERFORMANCE AT A GLANCE
Triple bottom line reporting 3
People, Planet and Profit
Sasol Chemicals performance summary
The Chemicals Business faced a challenging operating environment in 2023. Lower demand, high feedstock and energy costs
and increased competition as supply chain constraints eased post the COVID-19 pandemic, resulted in the average sales basket
price decreasing by 12% and lower overall unit margins compared to the prior year. Sales volumes were 4% lower than the prior year.
After normalising for the European Wax disposal in the third quarter of 2022, sales volumes for 2022 were 1% lower, with lower Eurasia
volumes offset by higher sales volumes in America and South Africa. EBIT for the Chemicals Business decreased by 51% to R15,9 billion,
compared to the EBIT of R32,6 billion in the prior year.
Turnover (Rm)
Turnover (Rm)
CHEMICALS
AFRICA
17 669
24 072
Total assets (Rm)
64 912
60 901
Turnover (Rm)
(Loss)/earnings before interest and tax (LBIT/EBIT) (Rm)
Total assets (Rm)
Number of employees
Turnover (Rm)
42% Chemicals Africa
30% Chemicals Eurasia
28% Chemicals America
CHEMICALS
AMERICA
2022
64 054
Earnings before interest and tax (EBIT) (Rm)
Number of employees
CHEMICALS
EURASIA
2023
67 772
(Loss)/earnings before interest and tax (LBIT/EBIT) (Rm)
Total assets (Rm)
Number of employees
6 351
6 396
47 577
55 011
(1 188)
7 552
38 608
36 402
2 865
2 808
44 492
41 496
(543)
981
158 237
139 685
1 327
1 271
Sasol Energy performance summary
The Energy Business continued to benefit from higher oil prices, refining margins and a weaker exchange rate and per barrel oil prices and
fuel differentials. This benefit was partly offset by significant challenges with coal quality and plant reliability issues during the first half
of the year. We saw a notable improvement in operational reliability in the second half of the year and have progressed with the external
coal purchasing programme to meet the coal demand for our Secunda Operations (SO). We also made available additional natural gas to
SO which contributed to the higher production in the second half. An impairment of R35,3 billion was recognised on the Secunda liquid
fuels refinery CGU. Accordingly, the Energy Business EBIT decreased by 96% to R1,9 billion compared to the prior year of R46,0 billion
which included gains on the disposal of assets.
Turnover (Rm)
Turnover (Rm)
FUELS
(Loss)/earnings before interest and tax (LBIT/EBIT) (Rm)
Total assets (Rm)
Number of employees
GAS
(7 128)
27 959
39 098
56 418
4 611
4 610
7 234
7 789
Earnings before interest and tax (EBIT) (Rm)
6 432
14 622
23 090
18 330
Total assets (Rm)
Turnover (Rm)
MINING
2022
97 996
Turnover (Rm)
Number of employees
89% Fuels
6% Gas
5% Mining
2023
116 235
612
513
6 386
6 370
Earnings before interest and tax (EBIT) (Rm)
2 580
3 456
Total assets (Rm)
17 647
29 893
Number of employees
8 768
8 520
2023
2022
Corporate Centre
Turnover (Rm)
Earnings/(loss) before interest and tax (EBIT/LBIT)*
Total assets (Rm)
Number of employees
–
30
3 698
(17 225)
53 335
43 356
4 539
4 512
* LBIT for the prior year mainly as a result of losses on the valuation of financial instruments and derivative contracts
SASOL INTEGRATED REPORT 2023
47
