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/
Copyright