SS Lazio (BIT:SSL)
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Comprehensive additional information is available on our website: www.sasol.com
JOHANNESBURG, South Africa, Sept. 12 /PRNewswire-FirstCall/ -- A strong performance
Our attributable earnings for the financial year that ended on 30 June 2006 increased by 10% from R9,4 billion to R10,4 billion. Our earnings per share of R16,73 and headline earnings per share of R22,93 were respectively 9% and 33% higher than those of the previous year.
We have, with effect from 30 June 2006, in accordance with International Financial Reporting Standard (IFRS) 5, classified our Sasol Olefins and Surfactants (O&S) business as a disposal group held for sale. On 5 September 2006, we announced a write-down of the value of O&S amounting to R2,8 billion, after tax, to reflect its fair value at 30 June 2006. This write-down follows due consideration of valuations undertaken and bids received from interested parties as part of the envisaged divestiture of the business. Excluding O&S (including the write-down and impairments during the year of R0,9 billion), attributable earnings increased by 41% to R13,7 billion and earnings per share increased by 40% to R22,15.
Safety and operations
The group's consolidated recordable case rate (RCR) improved significantly from 1,2 on 30 June 2005 to 0,7 on 30 June 2006, following the substantial interventions that were progressed during the year to improve our safety performance to world-class standards. The RCR measurement is recognised as the foremost safety performance metric in the global oil and petrochemical industries.
Generally, our plants operated efficiently during the year.
Higher international oil prices
Operating profit increased by R6,3 billion (44%) to R20,7 billion during the year under review. Higher international oil prices (average dated Brent US$62,45/b in 2006 versus US$46,17/b in 2005) boosted our operating profit by about R5,6 billion, taking into account the negative effect of the Sasol Synfuels oil production hedge of R1,0 billion incurred in the previous financial year. This benefit was further enhanced by the positive impact of a slightly weaker rand (average rate R6,41: US$1,00 in 2006 versus R6,21: US$1,00 in 2005), which increased our operating profit by approximately R1,3 billion, including positive year-end currency translation effects.
Major capital projects advanced
Cash flow on capital projects amounted to R13,0 billion of which R8,4 billion (65%) was invested in our South African operations. The major projects advanced include the fuel quality enhancement and polymer expansion project (Project Turbo) in South Africa, the Oryx gas-to-liquid (GTL) venture in Qatar and the Arya Sasol Polymers project in Iran.
The cost and scheduled commissioning dates of various projects completed or being advanced have been adversely affected by the shortage of engineering, fabrication and construction resources, as a consequence of the significant increase in projects in execution around the world. The commissioning of the Oryx GTL plant has been delayed to the fourth quarter 2006 following damage during early commissioning to a supporting utility system.
Gearing reduced
Our gearing (net debt as a percentage of shareholders' equity) reduced from 37% at 30 June 2005 to 29% (excluding O&S) at 30 June 2006.
Dividend increased
The final dividend declared of R4,30 per share brings the total dividend to R7,10 per share which represents a 31% increase compared to the previous year. The dividend cover of 2,3 is outside of our target range of 2,5 to 3,5 times, but when measured against earnings from continuing operations (excluding the O&S write-down) is 3,1, which is within our target range.
Sasol Mining
The operating profit of Sasol Mining of R1 180 million was 5% lower than the previous year primarily because of lower coal export prices. Costs continued to be controlled to well within inflationary levels.
Sasol Synfuels
Primarily because of higher oil prices, Sasol Synfuels achieved an increase in operating profit of 79% to R13 499 million. Production volumes were 1% higher than the previous year and we successfully met the national requirement for all fuels to be lead free from 1 January 2006.
Sasol Oil
Sasol Oil achieved a 29% increase in operating profit to R2 432 million, mainly because of higher refining margins. Our empowerment transaction with Tshwarisano LFB Investments (Pty) Limited (Tshwarisano) was finalised following the prohibition by the Competition Tribunal of the proposed merger of our liquid fuels business with Engen. As a result, Tshwarisano acquired a 25% shareholding in Sasol Oil with effect from 1 July 2006. Pleasing progress was made during the year with the continued expansion of our retail network under both our Sasol and Exel brands.
Sasol Gas
Primarily driven by higher sales revenues, operating profit increased by 64% to R1 526 million, including a capital profit of R205 million. We achieved higher sales volumes both from an increase in consumption by our existing customers as well as through expanding our customer base.
On 1 July 2005, the South African Government - through its gas pipeline development company iGas - acquired a 25% shareholding in Republic of Mozambique Pipeline Investments Company (Pty) Limited (ROMPCO), which owns the natural gas pipeline between Mozambique and South Africa. Companhia Mocambicana de Gasoduto (CMG), a state owned company in Mozambique, is also far advanced in exercising its option to acquire a 25% shareholding in ROMPCO. We expect this transaction to be finalised before the end of the calendar year.
Sasol Synfuels International
This business hosts the growth ambitions of the group relating to GTL and coal-to-liquid (CTL) ventures. Its costs are associated with establishing and advancing the various opportunities that Sasol has to commercialise its proprietary Fischer Tropsch technology. An operating loss of R642 million was incurred in the year as a direct consequence of our increased activity in this respect.
The highlights of the year were the inauguration of the Oryx GTL joint venture in Qatar, the commencement of construction for the GTL venture in Nigeria and the signing of agreements to proceed with feasibility studies into two CTL projects in China.
Sasol Polymers
The higher cost of oil-related feedstock procured from Sasol Synfuels could not be fully recovered through higher polymer selling prices resulting in significantly lower margins. In difficult trading conditions, Sasol Polymers achieved an operating profit of R822 million, which was 44% below the result of the previous year.
Sasol Solvents
Following the unprecedented fly-up in international solvents selling prices in the previous financial year, prices normalised this year and our operating profits reduced by 14% to R873 million. Productivity improvements and cost savings partly compensated for higher feedstock costs.
Other businesses
Sasol Nitro's performance improved because of higher ammonia prices and pleasing results from our explosives business. The fertiliser business experienced trading difficulties because of lower sales volumes resulting from high maize inventories held by our customers and the delayed summer rains.
The performance of Sasol Wax improved relative to the previous year because of more stable production and strong global demand for all grades of our waxes.
Sasol Petroleum International achieved a very pleasing performance with operating profits increasing from R280 million to R600 million.
Profit outlook
We anticipate satisfactory growth in earnings in the new financial year assuming continuing high oil prices, a slightly weaker rand and no major disruptions in the markets in which we conduct our business. We will commission substantial new production capacity (polymers and GTL) during the year which is expected to benefit our earnings in the 2008 financial year.
Basis of preparation and accounting policies
The condensed provisional consolidated financial statements for the year ended 30 June 2006 have been prepared in compliance with the Listings Requirements of the JSE Limited, International Financial Reporting Standards (IFRS) and the South African Companies Act, 1973, as amended.
Except where otherwise disclosed, the accounting policies applied in the presentation of the condensed consolidated financial statements for the year ended 30 June 2006 are consistent with those applied for the year ended 30 June 2005.
Full details of the accounting policies applied, changes in comparative information and comprehensive notes will be set out in the audited consolidated financial statements for the year ended 30 June 2006.
The following accounting standards have been adopted with retrospective application:
-- IFRS2 Share based payment, which requires that the effects of share
based payments be charged to income. Earnings and diluted earnings per
share were reduced by R0,23 and R0,22 respectively for the year ended
30 June 2005; and
-- IFRS6 Exploration for and evaluation of mineral resources, which was
adopted before it became mandatory and resulted in the
reclassification of intangible assets attributable to exploration and
development to property, plant and equipment. The reclassification did
not have any effect on reported earnings.
The effects of these changes have been applied retrospectively and consequently comparative information for the 2005 and 2004 financial years has been restated.
A number of other accounting standards were also adopted by the group during the year. The adoption of these standards did not have a significant impact on the financial results and financial position of the group.
The following comparative information for the 2005 financial year has been restated:
-- Short-term loans with fixed maturity dates, previously classified as
bank overdraft, have been reclassified as short-term debt; and
-- Costs attributable to the arrangement of long-term debt financing,
previously classified as long-term prepaid expenses, have been set off
against long-term debt.
These condensed provisional consolidated financial statements have been prepared in accordance with the historic cost convention except for certain financial instruments which are stated at fair value. The consolidated financial results are presented in rand, which is Sasol Limited's functional and presentation currency.
Related party transactions
The group, in the ordinary course of business, entered into various sale and purchase transactions on an arm's length basis at market rates with related parties.
Significant acquisitions and disposals of businesses
Subsidiaries
On 1 July 2005, a 25% interest in Republic of Mozambique Pipeline Investments Company (Pty) Limited was sold to iGas Limited (owned by the South African Government) for a consideration of R595 million and a profit of R205 million was realised.
In terms of a loan and security agreement with Lux International Corporation, Sasol Wax International AG obtained effective control of the business. The business was previously accounted for as an associate and has, with effect from January 2006, been consolidated.
With effect from 30 November 2005, Sasol Limited acquired the remaining 2% in Sasol Oil (Pty) Limited for a consideration of R146 million.
Joint ventures
On 23 February 2006, the South African Competition Tribunal prohibited the proposed merger of Sasol Oil (Pty) Limited and Engen Limited.
In terms of the joint operating agreement entered into between Sasol Petroleum Temane (SPT) and Companhia Mocambicana De Hidrocarbenetos S.A.R.L. (CMH), CMH acquired a 30% participating interest in the central processing facility assets held by SPT on 1 April 2006 for a consideration of US$65 million (R399 million) and SPT realised a loss of R82 million.
Disposal groups held for sale and discontinued operation
With effect from 30 June 2006, the O&S business unit was classified as a disposal group held for sale and the results reported as a discontinued operation. The income statement has been restated for all periods to exclude O&S from continuing operations and report these results as a single line item. In the 2006 balance sheet the assets and liabilities of O&S have been classified as held for sale. The cash flow statement and 2005 balance sheet include both continuing and discontinued operations.
On classification as held for sale, the net assets of the business were written down by R3,2 billion (R2,8 billion after tax) to the estimated fair value less costs to sell. The sale of the O&S business is expected to be completed within the next financial year.
We continue to classify our investment in FFS Refiners (Pty) Limited as an asset held for sale as progress has been made in advancing the sale of this business and it is anticipated that the disposal of this entity will be completed within the next financial year.
Post balance sheet date events
On 30 June 2006, Sasol announced that the R1,45 billion Tshwarisano broad based black economic empowerment transaction had been successfully concluded. In terms of the agreement, Tshwarisano has, with effect from 1 July 2006, acquired a 25% shareholding in Sasol Oil (Pty) Limited. Sasol is providing facilitation and support for Tshwarisano's financing requirements which will significantly lower Tshwarisano's cost of borrowing. In addition, Sasol is also establishing and funding trusts within Tshwarisano for the benefit of the under-privileged
The Sasol Polymers board approved the disposal of Sasol's 50% share in DPI Holdings (Pty) Limited to Dawn Limited for a consideration of R51 million. The transaction is subject only to the approval of the South African Competition authorities and will become effective at the end of the month in which such approval is given.
The Sasol Nitro board approved the acquisition of the remaining 40% of Sasol Dyno Nobel (Pty) Limited for a consideration of US$ 31 million (approximately R222 million at 30 June 2006). The transaction is subject only to the approval of the South African Competition Tribunal and has been recommended to the Tribunal by the South African Competition Commission. The transaction becomes effective five days after approval is received from the Tribunal.
A discussion document was released during July 2006 by a task team appointed by the South African Minister of Finance to assess possible reforms to the fiscal regime applicable to windfall profits in South Africa's Liquid Fuel Energy Sector, with particular reference to the synthetic fuel industry. In response to the document published by the task team, on 10 August 2006, Sasol submitted a written submission assessing possible reforms to the fiscal regime. Sasol participated in the public hearings held during August 2006 and is awaiting the outcome of the investigation.
Subject to the approval of shareholders at a general meeting convened for 3 October 2006, Sasol Limited proposes to acquire 60 111 477 Sasol Limited shares held by its subsidiary, Sasol Investment Company (Pty) Limited and to subsequently cancel these shares. Except for the related transaction costs, the repurchase and cancellation of these shares will have no effect on the consolidated financial position of the group.
Review by KPMG Inc.
The condensed provisional consolidated balance sheet at 30 June 2006 and the related condensed provisional consolidated statements of income, changes in equity and cash flow for the year then ended have been reviewed by our auditors, KPMG Inc. Their unmodified review report is available for inspection at the registered office of Sasol Limited.
principal foreign currency conversion rates
One unit of foreign currency equals 30 June 2006 30 June 2005
Rand/US$ (closing) 7,17 6,67
Rand/US$ (average) 6,41 6,21
Rand/euro (closing rate) 9,17 8,07
Rand/euro (average rate) 7,80 7,89
declaration of dividend number 54
The directors of Sasol Limited have declared a final dividend of R4,30 per share (2005: R3,10 per share) for the year to 30 June 2006. The dividend has been declared in the currency of the Republic of South Africa. The salient dates are:
To holders of ordinary shares:
Last day for trading to qualify for and
participate in the dividend
(cum dividend) Friday, 6 October 2006
Trading ex dividend commences Monday, 9 October 2006
Record date Friday, 13 October 2006
Dividend payment date
(electronic and certified register) Monday, 16 October 2006
On 16 October 2006, dividends due to certificated shareholders on the South African registry will either be electronically transferred to shareholders' bank accounts or, in the absence of suitable mandates, dividend cheques will be posted to such shareholders.
Shareholders who have dematerialised their share certificates will have their accounts, at their Central Securities Depository Participant or Broker credited on 16 October 2006.
Share certificates may not be dematerialised or rematerialised between Monday, 9 October 2006 and Friday, 13 October 2006, both days inclusive.
To holders of American Depositary Receipts:
on or about
Ex dividend on New York Stock Exchange* Wednesday, 11 October 2006
Record date Friday, 13 October 2006
Approximate date for currency conversion Tuesday, 17 October 2006
Approximate dividend payment date Thursday, 26 October 2006
* subject to NYSE approval
On behalf of the board
PV Cox L P A Davies TS Munday
Chairman Chief executive Deputy chief executive
Sasol Limited, 12 September 2006
Forward-looking statements: In this report we make certain statements that are not historical facts and relate to analyses and other information based on forecasts of future results not yet determinable, relating, amongst other things, to exchange rate fluctuations, volume growth, increases in market share, total shareholder return and cost reductions. These are forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995. Words such as "believe," "anticipate," "intend," "seek," "will," "plan," "could," "may," "endeavour" and "project" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. Forward-looking statements involve inherent risks and uncertainties and, if one or more of these risks materialise, or should underlying assumptions prove incorrect, actual results may be very different from those anticipated. The factors that could cause our actual results to differ materially from such forward-looking statements are discussed more fully in our most recent annual report under the Securities Exchange Act of 1934 on Form 20-F filed on 26 October 2005 and in other filings with the United States Securities and Exchange Commission. Forward-looking statements apply only as of the date on which they are made, and Sasol does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
Please note: A billion is defined as one thousand million.
The provisional financial statements are presented on a condensed consolidated basis.
Registered office: Sasol Limited, 1 Sturdee Avenue, Rosebank, Johannesburg 2196, P.O. Box 5486, Johannesburg 2000
Share registrars: Computershare Investor Services 2004 (Pty) Limited, 70 Marshall Street, Johannesburg 2001. P.O. Box 61051, Marshalltown 2107, South Africa, Tel: +27 11 370-7700, Fax: +27 11 370 5271/2
Directors (non-executive): P V Cox (Chairman), E le R Bradley, W A M Clewlow, B P Connellan, M S V Gantsho, A Jain (Indian), I N Mkhize, S Montsi, T H Nyasulu, J E Schrempp (German)
(Executive): L P A Davies (Chief executive), T S Munday (Deputy chief executive), K C Ramon (Chief Financial Officer), V N Fakude, A M Mokaba
Company secretary: N L Joubert
Company registration number: 1979/003231/06, Incorporated in the Republic of South Africa
JSE NYSE
Share codes: SOL SSL
ISIN code: ZAE000006896 US8038663006
American depositary receipt (ADR) program: Cusip number 803866300 ADR to ordinary share 1:1
Depositary: The Bank of New York, 22nd floor, 101 Barclay Street, New York, N.Y. 10286, U.S.A.
website: http://www.sasol.com/
e-mail:
balance sheet
at 30 June
2006 2005
Restated
Rm Rm
ASSETS
Property, plant, equipment 62 587 57 334
Goodwill 266 509
Intangible assets 834 1 116
Post-retirement benefit assets 80 300
Deferred tax assets 691 409
Other long-term assets 2 293 2 106
Non-current assets 66 751 61 774
Assets held for sale 12 115 41
Inventories 8 003 9 995
Trade and other receivables 12 067 12 370
Short-term financial assets 180 178
Restricted cash 584 1 002
Cash 3 102 2 509
Current assets 36 051 26 095
TOTAL ASSETS 102 802 87 869
EQUITY AND LIABILITIES
Shareholders' equity 52 352 43 533
Minority interest 379 253
Total equity 52 731 43 786
Long-term debt 15 021 12 845
Long-term provisions 3 463 2 954
Post-retirement benefit obligations 2 461 2 970
Long-term deferred income 1 698 763
Deferred tax liabilities 6 053 6 286
Non-current liabilities 28 696 25 818
Liabilities in disposal group held for sale 5 479 -
Short-term debt 2 721 5 614
Short-term financial liabilities 514 792
Other current liabilities 12,219 11 572
Bank overdraft 442 287
Current liabilities 21 375 18 265
TOTAL EQUITY AND LIABILITIES 102 802 87 869
income statement
for the year ended 30 June
2006 2005
Restated
Rm Rm
CONTINUING OPERATIONS
Turnover 63 850 52 497
Cost of sales and services rendered (33,093) (28,493)
Gross profit 30 757 24 004
Non-trading income 191 233
Marketing and distribution expenditure (3,561) (3,477)
Administrative expenditure (3,070) (3,031)
Other operating expenditure (3,839) (3,439)
Translation gains 254 93
Operating profit 20 732 14 383
Dividends and interest received 317 106
Income from associates 135 185
Borrowing costs (net of amounts capitalised) (456) (427)
Profit before tax 20 728 14 247
Taxation (6,819) (4,411)
Profit from continuing operations 13 909 9 836
DISCONTINUED OPERATIONS
Net loss from discontinued operations (3,360) (289)
Profit 10 549 9 547
Attributable to
Shareholders 10 373 9 437
Minority interests in subsidiaries 176 110
10 549 9 547
Rand Rand
Basic earnings per share
Attributable earnings basis 16.73 15.37
from continuing operations 22.15 15.85
from discontinued operations (5.42) (0.48)
Headline earnings basis 22.93 17.27
from continuing operations 22.47 16.94
from discontinued operations 0.46 0.33
Diluted earnings per share (cents)(1)
Attributable earnings basis 16.42 15.11
from continuing operations 21.74 15.58
from discontinued operations (5.32) (0.47)
Headline earnings basis 22.50 16.97
from continuing operations 22.05 16.65
from discontinued operations 0.45 0.32
Dividends per share (cents)
- interim 2.80 2.30
- final 4.30(2) 3.10
7.10 5.40
(1) Taking the Sasol Share Incentive Scheme into account.
(2) Declared subsequent to 30 June 2006 and has been presented for
information purposes only. No provision regarding this final
dividend has been recognised.
changes in equity statement
for the year ended 30 June
2006 2005
Restated
Rm Rm
Opening balance as previously reported 43 530 35 027
Share based payment - prior year
adjustment 3 2
Restated opening balance 43 533 35 029
Negative goodwill written off - 610
Shares issued 431 311
Attributable earnings 10 373 9 437
as previously reported 9 573
effects of changes in accounting policies (136)
Increase in share based payment reserve 169 137
Dividends paid (3,660) (2,856)
Increase in foreign currency
translation reserve 1 147 313
Increase in cash flow hedge accounting
reserve 359 552
Closing balance 52 352 43 533
Comprising
Share capital 3 634 3 203
Share repurchase programme (3,647) (3,647)
Retained earnings 51 748 45 035
Share based payment reserve 780 611
Foreign currency translation reserve (189) (1,336)
Investment fair value reserve 2 2
Cash flow hedge accounting reserve 24 (335)
Shareholders' equity 52 352 43 533
cash flow statement
for the year ended 30 June
2006 2005
Restated
Rm Rm
Cash receipts from customers 80,853 68,263
Cash paid to suppliers and employees (56,473) (49,451)
Cash generated by operating activities 24,380 18,812
Investment income 444 169
Borrowing costs paid (1,745) (1,523)
Tax paid (5,389) (3,753)
Dividends paid (3,660) (2,856)
Cash available from operating activities 14,030 10,849
Additions to property, plant and equipment (13,026) (12,420)
Acquisition of businesses (147) -
Cash acquired on acquisition of businesses (113) -
Disposal of businesses 587 36
Cash disposed of on disposal of businesses (1) (94)
Cash in disposal group held for sale (472) -
Other investing activities 572 251
Cash utilised in investing activities (12,600) (12,227)
Share capital issued 431 311
Dividends paid to minority shareholders (75) (64)
Increase in long-term debt 1,305 4,165
Decrease in short-term debt (2,938) (2,144)
Cash effect of financing activities (1,277) 2,268
Effect of translation of cash of
foreign operations (133) (175)
Increase in cash and cash equivalents 20 715
Cash and cash equivalents at
beginning of year 3,224 2,509
Cash and cash equivalents at end of year 3,244 3,224
Comprising
- restricted cash 584 1,002
- cash 3,102 2,509
- bank overdraft (442) (287)
3,244 3,224
value added statement
for the year ended 30 June
2006 2005
Restated
Rm Rm
Turnover 63 850 52 497
Purchased materials and services (32,072) (28,092)
Value added 31 778 24 405
Investment income 452 291
Wealth created 32 230 24 696
Employees 7 647 6 845
Providers of equity capital 3 836 2 966
Providers of loan capital 1 638 1 361
Government 6 584 4 177
Reinvested in the group 12 525 9 347
Wealth distribution 32 230 24 696
headline earnings
2006 2005
Restated
Rm Rm
Profit from continuing operations 13,909 9,836
Less minority interest (176) (110)
Effect of capital items of continuing
operations 129 703
Impairment of assets 155 556
Reversal of impairment (140) -
Profit on disposal of assets (146) (94)
Scrapping of property, plant and equipment 260 274
Profit on sale of participation rights
in GTL project - (33)
Tax effects 67 (31)
Headline earnings of continuing operations 13,929 10,398
Net loss from discontinued operations (3,360) (289)
Effect of capital items of
discontinued operations 4,143 572
Impairment of assets 912 522
Fair value write-down 3,196 -
Profit on disposal of assets 14 34
Scrapping of property, plant and equipment 21 16
Tax effects (498) (204)
Deferred tax asset written off - 122
Headline earnings of discontinued
operations 285 201
Headline earnings 14,214 10,599
Capital items per business unit Rm Rm
Mining (16) 23
Synfuels (187) (110)
Oil (8) (63)
Gas 138 -
Synfuels International - 33
Polymers (17) (12)
Solvents 105 (593)
Other (144) 19
Continuing operations (129) (703)
Discontinued operation - Olefins & Surfactants (4,143) (572)
(4,272) (1,275)
salient features
2006 2005
Restated
Selected ratios
Return on equity % 21.6 24.0
Return on total assets % 18.5 18.2
Operating margin % 32.5 27.4
Borrowing cost cover times 10.1 9.7
Dividend cover times 2.3 2.8
Dividend cover from
continuing operations times 3.1 2.9
Share statistics
Total shares in issue million 683.0 676.9
Treasury shares (share
repurchase programme) million 60.1 60.1
Weighted average number of
shares million 620.0 613.8
Diluted weighted average
number of shares million 631.7 624.4
Share price (closing) Rand 275.00 180.80
Market capitalisation Rm 187,825 122,379
Net asset value per share Rand 84.05 70.58
Other financial information
Total debt (including bank overdraft)
- interest bearing Rm 17,884 18,745
- non-interest bearing Rm 300 1
Borrowing costs capitalised Rm 1,439 1,106
Capital commitments 13,866 19,169
- authorised and
contracted Rm 28,060 26,679
- authorised, not yet
contracted Rm 6,306 7,740
- less expenditure to date Rm (20,500) (15,250)
Guarantees and contingent liabilities
- total amount Rm 33,212 33,122
- liability included on
balance sheet Rm 12,106 11,230
Significant items in operating profit
- employee costs Rm 7,647 6,845
- depreciation and
amortisation of
non-current assets Rm 3,399 3,177
- operating lease charges Rm 319 232
Directors' remuneration Rm 33 26
Share options granted to
directors - cumulative '000 1,506 1,205
Effective tax rate % 32.9 31.0
Employees number 31,460 30,004
Average crude oil price -
dated Brent US$/barrel 62.45 46.17
Average Rand/US$ exchange
rate 1US$ = Rand 6.41 6.21
The reader is referred to the definitions contained in the 2005 Sasol
Limited annual financial statements.
DATASOURCE: Sasol Limited
CONTACT: The Sasol Investor Relations team, +27-11-441-3113,
+27-11-441-3113-3563, +27-11-441-3321,
Web site: http://www.sasol.com/