Sasol Limited Integrated Report 2021 - Book - Page 13
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President and Chief Executive Officer’s statement (CONTINUED)
Our Group top priorities are determined annually having regard
to our material matters, operating environment and evolving
strategy. They therefore emphasise those factors that impact value
preservation, creation and erosion. They anchor us in successfully
positioning ourselves to transition to Future Sasol.
Reflecting on our 2021 results
Our top priorities for 2022
Our balance sheet improved substantially compared to a year ago and, with Sasol
2.0 now ramping-up, we are on course to restore our investment grade metrics.
This is a significant achievement. FY21 was the positive shift we needed for
all our stakeholders and we now have a strong foundation for Future Sasol,
supported by a deleveraged balance sheet and a new operating model that allows
for greater agility, faster decision-making and enhanced customer-centricity.
PEOPLE
Financial and operational performance
For FY21, our business results met and surpassed expectations. They were
underpinned by a strong overall business and operational performance.
We exceeded our balance sheet targets, thereby averting the need for a rights
issue. We managed liquidity well above target and delivered value through
our strategy-led asset divestment programme.
Safety
The safety of our people is paramount and while there was an improvement,
we tragically lost Mr Samuel Molumo during the financial year and
Mr Fraser Norris, after year end, from work-related incidents. We remain
steadfast in our commitment to zero harm and we will continue embedding
a culture that humanises safety. We have made significant progress through
key interventions and programmes that have transformed the SHE dialogue.
Our high-severity incidents (HSI) programme has contributed to a significant
reduction in the severity of the hospitalised incidents experienced.
Advance sustainability
ZERO
Safety
• Earn trust of
stakeholders
• Deliver our roadmap and targets for 2030 and our Net Zero ambition for 2050
• Further refine environmental compliance roadmaps to FY25
• Deliver 600 MW Power Purchase Agreements (PPA) in support of 1 200 MW
renewable energy ambition by 2030
• Develop a roadmap to leverage our competitive advantage (eg FT) to gain access
to emerging future value pools
• Identify opportunities to grow and participate in sustainable products and
chemistries
• Secure optionality relating to securing flexible sustainable feedstock opportunities
• Deliver our 2030
roadmap
• Grow and participate
in sustainable
businesses
Trust
Decarbonising
Deliver and maximise value
PROFIT
Looking ahead
Over the past year we have overcome significant obstacles because we had clarity
of the task ahead and confidence in our abilities. We head into the future with a
clear Purpose and an updated strategy which is supported by our values. Through
our diverse, driven and dedicated employees across the world we will build a
sustainable Future Sasol that will create value for all our stakeholders.
• Zero harm
Link to
material matter
People
PLANET
COVID-19
COVID-19 continues to wreak havoc around the world, upending livelihoods and
potentially permanently disrupting the way business is conducted. Through an
agile approach to managing production, supported by fit-for-purpose practices,
our objective is to ensure sustainable performance and world-class operations.
COVID-19 requires companies to step-up and contribute meaningfully to
alleviating its impacts. We have significantly contributed to frontline efforts in
managing the spread of the disease, while implementing measures to support
community and public health, most notably through supporting the Department
of Health’s vaccination strategy.
• S
trive for zero harm through relentless focus on preventing high-severity injuries
and eliminating fatalities
• Continue focus on embedding our values to strengthen our espoused culture
• Stakeholder value proposition: Rebuild trust and create shared value
• Refine employee value proposition to drive capability building and promote
employee engagement
• Promote diversity, equity and inclusion in the workplace
Outcomes linked to
our incentive plan
• Deliver Sasol 2.0 commitments for FY22 and mature prudent financial risk
management, debt maturity and liquidity management, working capital
management and effective cost control
• Drive reliable and predictable, feedstock supply and operations producing
market-led downstream products
• Ramp-up cash flow generation in United States post LCCP start-up
• Continue transformation of chemicals to a solutions orientated specialty portfolio
• Continuously improve our service delivery and customer experience enabled
through omni-channel customer feedback and metrics
• Further strengthen
the balance sheet
• Reliable and
predictable feedstock
supply and operations
Trust
Sasol 2.0
Fleetwood Grobler
President and Chief Executive Officer
20 September 2021
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Sasol Integrated Report 2021