Sasol Form 20-F for the year ended 30 June 2021 - Book - Page 6
translation gains and losses (realised and unrealised),
all gains and losses on our derivatives and hedging
activities (realised and unrealised), and share-based
payments on implementation of Broad-Based Black
Economic Empowerment (B-BBEE) transactions.
Period close adjustments in relation to the valuation of
our derivatives at period end are to remove volatility
from earnings as these instruments are valued using
forward curves and other market factors at the reporting
date and could vary from period to period. We believe
core headline earnings is a useful measure of the
group’s sustainable operating performance. However,
this is not a defined term under IFRS, should not be
viewed as a substitute for earnings for the year or
earnings per share and may not be comparable with
similarly titled measures reported by other companies.
The aforementioned adjustments are the responsibility
of the directors of Sasol. The adjustments have been
prepared for illustrative purposes only and due to their
nature, core headline earnings may not necessarily be
indicative of Sasol’s financial position, changes in
equity, results of operations or cash flows.
“EBIT” refers to earnings before interest and
“LBIT” refers to loss before interest and tax.