RENAULT GROUP FIRST-HALF 2015 FINANCIAL RESULTS
DISCLAIMER Information contained within this document may contain forward looking statements. Although the Company considers that such information and statements are based on reasonable assumptions taken on the date of this report, due to their nature, they can be risky and uncertain (as described in the Renault documentation registered within the French financial markets regulation authorities) and can lead to a difference between the exact figures and those given or deduced from said information and statements. Renault does not undertake to provide updates or revisions, should any new statements and information be available, should any new specific events occur or for any other reason. Renault makes no representation, declaration or warranty as regards the accuracy, sufficiency, adequacy, effectiveness and genuineness of any statements and information contained in this report. Further information on Renault can be found on Renault’s web site (www.group.renault.com), in the section Finance / Regulated Information. INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 2
AGENDA 01 COMMERCIAL UPDATE 02 H1 2015 FINANCIAL RESULTS & OUTLOOK 03 QUESTIONS & ANSWERS INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 3
HIGHLIGHTS OPERATING MARGIN IMPROVEMENT GROWTH ACCELERATION FY GUIDANCE CONFIRMED INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 4
01 COMMERCIAL UPDATE INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 5
RENAULT GROUP UNIT REGISTRATIONS H1 2015 vs H1 2014 WORLD MARKET SHARE: 3.2% (=) K units (PC+LCV) 1,376 1,366 849 776 206 177 164 159 151 150 54 57 H1'14 H1'15 H1'14 H1'15 H1'14 H1'15 H1'14 H1'15 H1'14 H1'15 H1'14 H1'15 GLOBAL EUROPE EURASIA AMI AMERICAS ASIA-PACIFIC GROUP +0.8% +9.3% -10.2% +0.9% -20.3% -5.5% TIV +1.2% +8.5% -20.3% +3.0% -10.6% +0.4% INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 6
EUROPE REGION BREAKDOWN OF GROUP REGISTRATIONS PC+LCV TIV & MARKET MIX +8 H1’15 849 PERFORMANCE +64 849 H1’14 776 776 H1 2015 H1 2014 GROUP MARKET SHARE PC+LCV GROUP ORDER BOOK PC+LCV Europe 10.2% +0.1 pts France 26.9% -0.4 pts INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 7
AMERICAS REGION BREAKDOWN OF GROUP REGISTRATIONS PC+LCV H1’14 -22 206 PERFORMANCE 206 -21 TIV +1 & MARKET MIX ARGENTINA H1’15 164 GROUP MARKET SHARE PC+LCV OROCH TO BE LAUNCHED IN H2 Americas 5.9% -0.7 pts Brazil 7.0% +0.1 pts INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 8
EURASIA REGION BREAKDOWN OF GROUP REGISTRATIONS PC+LCV 177 849 H1’14 -10 -10 TIV -8 177 & MARKET MIX H1’15 PERFORMANCE -8 159 159 H1 2015 H1 2015 H1 2014 DUSTER FACELIFT LAUNCHED IN H2 GROUP MARKET SHARE PC+LCV Eurasia 11.2% +1.3 pts Russia 7.3% -0.5 pts INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 9
AFRICA - MIDDLE EAST - INDIA REGION BREAKDOWN OF GROUP REGISTRATIONS PC+LCV 849 PERFORMANCE 151 -10 H1’15 +5 H1’14 -4 150 177 151 +5 TIV 150 -4 & MARKET MIX -8 159 H1 2015 H1 2015 H1 2014 H1 2015 H1 2014 KWID TO BE LAUNCHED IN H2 GROUP MARKET SHARE PC+LCV AMI 3.6% -0.1 pts Algeria 31.7% +7.1 pts INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 10
ASIA-PACIFIC REGION BREAKDOWN OF GROUP REGISTRATIONS PC+LCV TIV & MARKET MIX 849 151 +3 -10 -6 H1’14 150 PERFORMANCE 177 H1’15 +5 57 -4 54 -8 159 H1 2015 H1 2015 H1 2014 H1 2015 H1 2014 GROUP MARKET SHARE PC+LCV WUHAN PLANT ON TRACK Asia-Pacific 0.3% 0.0 pt Korea 4.4% -0.2 pts INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 11
02 H1 2015 FINANCIAL RESULTS & OUTLOOK INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 12
H1 2015 FINANCIAL RESULTS H1 2014 H1 2015 CHANGE 19,820 22,197 +12.0% Revenues Operating margin +729 +1,069 +340 in % of revenues +3.7% +4.8% +1.1 pts -265 -116 +149 Other operating income & expenses +464 +953 +489 EBIT -124 -161 -37 Net financial income & expenses +725 +912 +187 Associated companies -264 -235 +29 Current & deferred taxes +801 +1,469 +668 Net income (million euros) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 13
H1 2015 GROUP REVENUES H1 2014 H1 2015 CHANGE 1,365,988 1,376,356 +0.8% Global registrations (units) 19,820 22,197 Group revenues +12.0% +12.4% of which : Automotive 18,739 21,065 +4.7% Sales financing 1,081 1,132 (million euros) Q1 Q2 +13.7% +10.8% INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 14
AUTOMOTIVE REVENUES VARIANCE ANALYSIS CHANGE H1 2015 / H1 2014: + € 2,326m Currency Sales to +225 partners -33 Others +1,112 Price Product mix +308 +145 Volume -46 +615 Geographic 21,065 mix 18,739 +3.3pts -0.2pts +0.8pts +1.6pts +5.9pts +1.2pts -0.2pts +12.4% H1 2014 H1 2015 (million euros) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 15
GROUP OPERATING MARGIN VARIANCE ANALYSIS CHANGE H1 2015 / H1 2014: + € 340m Raw RCI & Currency materials Other Volume & +28 +112 Monozukuri activities partners +1 G&A -17 +236 -283 +263 Mix / Net Enrichment 1,069 COST REDUCTION GROWTH + € 219m + € 264m 729 H1 2014 H1 2015 (million euros) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 16
OPERATING MARGIN BY ACTIVITY H1 2014 H1 2015 CHANGE +348 +656 +308 AUTOMOTIVE % Automotive revenues +1.9% +3.1% +1.3 pts +381 +413 +32 SALES FINANCING +729 +1,069 +340 GROUP OPERATING MARGIN +3.7% +4.8% +1.1 pts % Group revenues (million euros) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 17
RCI BANQUE in % of average loans outstanding H1 2014 H1 2015 6.0 7.7 New financings ( € bn) 24.8 27.6 Average performing loans outstanding ( € bn) Net banking income* 5.14% 4.93% -0.47% -0.31% Cost of risk* (customer & dealer) -1.58% -1.54% Operating expenses* 2.92% 3.08% Pretax income* (* in percentage of average performing loans outstanding) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 18
OTHER OPERATING INCOME & EXPENSES H1 2014 H1 2015 Net restructuring costs -152 -106 (incl. competitiveness agreement in France) Impairment of assets / reversal -135 -11 +30 +6 Profit / loss on asset sales -8 -5 Others -265 -116 TOTAL OTHER OPERATING INCOME & EXPENSES (million euros) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 19
H1 2015 FINANCIAL RESULTS H1 2014 H1 2015 CHANGE 19,820 22,197 +12.0% Revenues Operating margin +729 +1,069 +340 in % of revenues +3.7% +4.8% +1.1 pts -265 -116 +149 Other operating income & expenses +464 +953 +489 EBIT -124 -161 -37 Net financial income & expenses +725 +912 +187 Associated companies -264 -235 +29 Current & deferred taxes +801 +1,469 +668 Net income (million euros) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 20
ASSOCIATED COMPANIES H1 2014 H1 2015 CHANGE +789 +979 +190 Nissan -15 -55 -70 AVTOVAZ (1) +12 -9 +3 Others +187 +725 +912 TOTAL ASSOCIATED COMPANIES (million euros) (1) AVTOVAZ is consolidated with a 3-month time lag Q1 Q2 494 485 INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 21
H1 2015 FINANCIAL RESULTS H1 2014 H1 2015 CHANGE 19,820 22,197 +12.0% Revenues Operating margin +729 +1,069 +340 in % of revenues +3.7% +4.8% +1.1 pts -265 -116 +149 Other operating income & expenses +464 +953 +489 EBIT -124 -161 -37 Net financial income & expenses +725 +912 +187 Associated companies -264 -235 +29 Current & deferred taxes +801 +1,469 +668 Net income (million euros) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 22
AUTOMOTIVE NET CASH POSITION DEC. 31, 2014: € 2,104m JUNE 30, 2015: € 1,567m Cash flow -369 +1,727 Change in WCR -899 Net capex Dividends received -431 from Capitalized listed co. R&D +267 -123 -95 Leased -591 Net tangible Operational Vehicles -537 free & intangible cash flow investments -118 Dividends - 1,453 Net cash Financial paid investments decrease & others (million euros) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 23
DISTRIBUTION STOCK NEW VEHICLE DISTRIBUTION STOCK (IN K UNITS) 527 488 515 510 503 507 495 493 481 TOTAL 459 445 388 367 353 337 333 314 INDEPENDENT 272 264 260 253 240 DEALERS 255 243 251 241 240 GROUP 177 158 140 131 106 100 DEC'12 MAR'13 JUN'13 SEP'13 DEC'13 MAR'14 JUN'14 SEP'14 DEC'14 MAR'15 JUN'15 65 Number of days of sales 72 67 75 63 76 62 74 57 74 64 (previous period) INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 24
RISKS & OPPORTUNITIES FOR THE SECOND HALF NEW PRODUCTS REGULATORY COST PRESSURE LATIN AMERICA EUROPEAN MARKET MOMENTUM FOREX SUPPLY CHAIN INVESTOR RELATIONS JULY 30 th , 2015 RENAULT H1 2015 PRESENTATION 25
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