Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 68
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2
3
4
SASOL LIMITED GROUP
OPERATING AND OTHER ACTIVITIES
2021
Rm
2020
Rm
2019
Rm
Energy business
65 676
67 415
85 536
Coal¹
Liquid fuels and crude oil²
Gas (methane rich and natural gas) and condensate³
2 025
58 265
5 386
1 343
60 119
5 953
3 222
76 328
5 986
Chemicals business
133 136
119 840
114 832
Advanced materials⁴
Base chemicals⁵
Essential care⁶
Performance solutions⁷
7 380
45 684
44 314
35 758
7 200
40 262
40 112
32 266
7 349
34 967
41 084
31 432
2 288
2 313
2 308
201 100
810
189 568
799
202 676
900
201 910
190 367
203 576
for the year ended 30 June
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Turnover
Revenue by major product line
Other (Technology, refinery services)⁹
Revenue from contracts with customers
Revenue from other contracts⁸
1 Derived from Mining segment.
2 Derived from Fuels segment.
3 Derived from Gas segment.
4 Approximately 37% (2020 – 29%; 2019 – 28%) of revenue from advanced materials is derived from Chemicals Africa while 52% (2020 – 56%;
2019 – 57%) is derived from Chemicals Eurasia and the remaining revenue is derived from Chemicals America.
5 Approximately 59% (2020 – 59%; 2019 – 74%) of revenue from base chemicals is derived from Chemicals Africa while 33% (2020 – 29%; 2019 – 18%)
is derived from Chemicals America and the remaining revenue is derived from Chemicals Eurasia.
6 Approximately 70% of revenue from essential care products is derived from Chemicals Eurasia and approximately 30% is derived from Chemicals
America for all three years presented.
7 Approximately 70% of revenue from performance solutions is derived from Chemicals Eurasia and approximately 15% from Chemicals America and
Chemicals Africa each for all three years presented.
8 Relates to the Fuels segment and includes franchise rentals, use of fuel tanks and fuel storage.
9 Relates to the Gas and Fuels segments.
The disaggregation of revenue was updated in the current year and comparatives have been restated – refer to note 1.
Accounting policies:
Revenue from contracts with customers is recognised when the control of goods or services has transferred to the customer
through the satisfaction of a performance obligation. Group performance obligations are satisfied at a point in time and over
time, however the group mainly satisfies its performance obligations at a point in time. For further information on revenue
recognition, refer to Segment information on pages 58 to 59.
Revenue recognised reflects the consideration that the group expects to be entitled to for each distinct performance obligation
after deducting indirect taxes, rebates and trade discounts and consists primarily of the sale of fuels, oil, natural gas and chemical
products, services rendered, license fees and royalties. The group allocates revenue based on stand-alone selling prices.
The group enters into exchange agreements with the same counterparties for the purchase and sale of inventory that are entered
into in contemplation of one another. When the items exchanged are similar in nature, these transactions are combined and
accounted for as a single exchange transaction. The exchange is recognised at the carrying amount of the inventory transferred.
Revenue from arrangements that are not considered contracts with customers, mainly pertaining to franchise rentals, use of fuel
tanks and fuel storage, is presented as revenue from other contracts.
The period between the transfer of the goods and services to the customer and the payment by the customer does not exceed
12 months and the group does not adjust for time value of money.
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Sasol Annual Financial Statements 2021