UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K for August 1, 2013
Commission File Number 1-31615
Sasol Limited
1 Sturdee Avenue
Rosebank 2196
South Africa
(Name and address of registrant's principal executive office)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F __X__ Form 40-F _____
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-
T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission
in paper of a Form 6-K if submitted
solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-
T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in
paper of a Form 6-K if submitted to furnish a report or other document
that the registrant foreign private issuer must furnish and make public
under the laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrant's "home country"), or
under the rules of the home country exchange on which the
registrant's securities are traded, as long as the report or other document
is not a press release, is not required to be and has not been distributed
to the registrant's security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also
thereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _____ No __X__
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule
12g3-2(b):
82-_______________.
Enclosures: Trading statement for the financial year ended 30 June
2013
Sasol Limited - Trading statement for the financial year ended 30
June 2013
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes: JSE : SOL NYSE : SSL
Sasol Ordinary ISIN codes: ZAE000006896 US8038663006
Sasol BEE Ordinary Share code: JSE : SOLBE1
Sasol BEE Ordinary ISIN code: ZAE000151817
("Sasol")
Trading statement for the financial year ended 30 June 2013 -
Sasol's headline earnings per share (HEPS) for the financial year
ended 30 June 2013 are expected to increase by between 20% and
30%, and earnings per share (EPS) for the financial year ended
30 June 2013 are expected to increase by between 7% and 17%,
compared to the previous financial year.
The strong financial results, underpinned by higher than
anticipated Sasol Synfuels' production volumes, were affected by
an impairment in respect of our Sasol Wax business related to the
Fischer-Tropsch wax expansion project (FTWEP) that is currently
under construction, as well as an impairment related to the
pending disposal of our share in Arya Sasol Polymer Company
(ASPC).
In the update from the chief financial officer released on 7 June
2013, we stated that we remained confident that, based on our
production guidance and macroeconomic indicators, we would
deliver solid operational performance and earnings for the 2013
financial year compared to the previous financial year, excluding
major once-off items. At the time, the currency and commodity
price volatility to which our earnings are particularly
sensitive, as well as any adjustments arising from our financial
year end closure process, and specifically in regard to ASPC and
FTWEP, made it difficult to be more precise in our profit outlook
statement.
Sasol's profitability for the financial year ended 30 June 2013
compared to the previous financial year benefited from the
improved production performance of its foundation businesses,
with Sasol Synfuels' production volumes increasing by 4% to 7,443
million tons compared to the previous financial year, as well as
the effect of a 14% weakening of the average rand/US dollar
exchange rate during the year. This has been partially offset by
a 3% lower average Brent crude oil price for the year, depressed
chemical prices and continued lower demand at our chemical
businesses. In addition, cost inflation was compounded by a
weaker rand and higher labour and maintenance costs.
We previously indicated that there was a risk of a potential
impairment of the FTWEP due to the volatile macroeconomic
environment and increased costs relating primarily to
construction delays and poor labour productivity. After a robust
reassessment of the project economics, FTWEP was impaired by
approximately R1,5 billion net of tax at 30 June 2013. All
efforts are being made to monitor and mitigate the risks
identified on the project and to improve the economics thereof.
We continue to progress towards concluding the disposal of our
share in ASPC. The investment's fair value was further written
down by approximately R1,6 billion net of tax at 30 June 2013, in
addition to the impairment of R1 974 million net of tax
previously recognised at 31 December 2012, reducing the carrying
value of the investment over the financial year by R3,6 billion
to R2,3 billion. This is based on our assessment of the fair
value of the asset as well as the accounting requirement to
recognise operating profits of approximately R1,6 billion for the
second half of the 2013 financial year which might not be
recovered through the disposal process. Estimates at 30 June 2013
indicate that additional write offs of approximately
US$100 million may still be required at the date of disposal
relating to the foreign currency translation reserve as a result
of a deteriorating Iranian environment and further operating
profits which might not be recovered through the disposal.
Despite a solid operational performance by ASPC, results for the
current financial year have been negatively impacted by the
devaluation of the Iranian currency which resulted in translation
losses of approximately R2,0 billion being recognised.
Sasol remains a strong cash generator and maintains its low
gearing and solid financial position. We continue to focus on
those factors within our control including cost containment,
operational efficiencies, margin improvements and improved
project execution. Sasol has launched a project to sustainably
reduce its cost base in the future. Further details of this cost
reduction project will be shared at Sasol's next financial
results announcement.
Our results may be further affected by any adjustments resulting
from our year end closure process. This may result in a change in
the estimated earnings.
The financial information on which this trading statement is
based has not been reviewed or reported on by the Company's
external auditors.
Sasol's financial results for the year ended 30 June 2013 will be
announced on Monday, 9 September 2013.
1 August 2013
Sponsor: Deutsche Securities (SA) Proprietary Limited
Forward-looking statements - disclaimer:
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 and cost reductions. Words such as "believe",
"anticipate", "expect", "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. 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 under the
Securities Exchange Act of 1934 on Form 20-F filed on 12 October
2012 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.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant, Sasol Limited, has
duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Date August 1, 2013 By: /s/ V D Kahla
Name: Vuyo Dominic Kahla
Title: Company Secretary