Disclaimer – Forward-looking statements
Sasol may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return, executing our growth projects (including LCCP), oil and gas reserves and cost reductions, including in connection with our BPEP, RP and our business performance outlook. Words such as “believe”, “anticipate”, “expect”, “intend", “seek”, “will”, “plan”, “could”, “may”, “endeavour”, “target”, “forecast” and “project” and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report on Form 20-F filed on 28 August 2018 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do 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. All references to years refer to the financial year ended 30 June. Any reference to a calendar year is clearly articulated as such.
Abbreviations
| mm bbl | million barrels | |
| mm tons | million tons | |
| bscf | billion standard cubic feet | |
| m bbl | thousand barrels | |
| ktpa | thousand tons per annum | |
| Rm | rand millions | |
| $/ton | US dollar per ton | |
| R/ton | rand per ton | |
| mm3 | million cubic meters | |
| BPEP | Business Performance Enhancement Project | |
| EGTL | Escravos Gas-to-Liquids | |
| HEPS | Headline Earnings Per Share | |
| HDPE | High-density Polyethylene | |
| LCCP | Lake Charles Chemicals Project | |
| PSA | Production Sharing Agreement | |
| RP | Response Plan | |
| SSO | Secunda Synfuels Operations |
Sustainable Development Goals (SDG)
| SDG 4: | Ensure inclusive and quality education for all and promote lifelong learning |
| SDG 6: | Ensure access to water and sanitation for all |
| SDG 8: | Promote inclusive and sustainable economic growth, employment and decent work for all |
| SDG 12: | Ensure sustainable consumption and production patterns |
| SDG 13: | Take urgent action to combat climate change and its impacts |
Core headline earnings are calculated by adjusting headline earnings with once-off items, period close adjustments and depreciation and amortisation of significant capital projects, exceeding R4 billion which have reached beneficial operation and are still ramping up and share-based payments on implementation of B-BBEE transactions. 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 and may not be comparable with similarly titled measures reported by other companies.
Earnings before interest, tax, depreciation and amortisation (EBITDA) is calculated by adjusting earnings before interest and taxation for depreciation, amortisation, remeasurement items, share-based payments and unrealised gains and losses on our hedging activities. We believe EBITDA is a useful measure of the group’s underlying cash flow performance. However, this is not a defined term under IFRS and may not be comparable with similarly titled measures reported by other companies