2015 FINANCIAL RESULTS CONFERENCE DISCLAIMER Information contained - - PowerPoint PPT Presentation

▶
2015 financial results conference disclaimer
SMART_READER_LITE
LIVE PREVIEW

2015 FINANCIAL RESULTS CONFERENCE DISCLAIMER Information contained - - PowerPoint PPT Presentation

Nov 16, 2023 126 likes •445 views

RENAULT GROUP 2015 FINANCIAL RESULTS CONFERENCE DISCLAIMER Information contained within this document may contain forward looking statements. Although the Company considers that such information and statements are based on reasonable

slide-1
SLIDE 1

RENAULT GROUP 2015 FINANCIAL RESULTS CONFERENCE

slide-2
SLIDE 2

2

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

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.

DISCLAIMER

slide-3
SLIDE 3

3

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

AGENDA

01

FY 2015 FINANCIAL RESULTS

DOMINIQUE THORMANN EVP, Chief Financial Officer

02

2015 REVIEW AND 2016 OUTLOOK

CARLOS GHOSN Chairman & Chief Executive Officer

03 QUESTIONS & ANSWERS

slide-4
SLIDE 4

4

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

FY 2015 FINANCIAL RESULTS

DOMINIQUE THORMANN

EVP, Chief Financial Officer

01

slide-5
SLIDE 5

5

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

2 712 1 465 390 308 417 133 2 802 1613 356 360 355 117

RENAULT GROUP UNIT REGISTRATIONS 2015 VS 2014

GLOBAL +3.3% EUROPE +10.2% AMERICAS

  • 14.8%

ASIA-PACIFIC

  • 12.3%

AFRICA-ME-INDIA +16.9% EURASIA

  • 8.6%

K units (PC+LCV)

+1.6% TIV +9.4%

  • 21.1%
  • 1.6%
  • 12.8%

+2.3% GROUP

INTERNATIONAL -4.8%

slide-6
SLIDE 6

6

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

2015 2014

CHANGE

Global unit sales (units) 2,801,592 2,712,432 +3.3% Group revenues 45,327 41,055 +10.4%

  • f which: Automotive

43,108 38,874 +10.9% Sales financing 2,219 2,181 +1.7%

FY 2015 GROUP REVENUES

(million euros)

slide-7
SLIDE 7

7

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

AUTOMOTIVE REVENUES VARIANCE ANALYSIS

Currency Volume Geographic mix Sales to partners Others

+10.9%

+3.2 pts

  • 0.1 pts

+1.3 pts +2.1 pts

  • 0.1 pts
  • 0.3 pts

Price +4.8 pts

CHANGE 2015 vs 2014: +€4,234m

FY 2014 FY 2015

(million euros) Product mix

38,874 43,108

+1,260 +1,874 +809 +491

  • 34
  • 115
  • 51
slide-8
SLIDE 8

8

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

OPERATING PROFIT BY ACTIVITY

2015 2014

CHANGE

AUTOMOTIVE 1,496 858 +638 % Automotive revenues 3.5% 2.2%

+1.3pts

SALES FINANCING 824 751 +73 GROUP OPERATING PROFIT 2,320 1,609 +711 % Group revenues 5.1% 3.9%

+1.2pts

(million euros)

H1 H2 3.1% 3.8%

slide-9
SLIDE 9

9

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

1,609 2,320

+596

  • 69

+61

  • 379

+441 +39 +22

GROUP OPERATING PROFIT VARIANCE ANALYSIS

Currency Volume & partners Mix / Net Enrichment G&A RCI Banque &

  • ther

activities

COST REDUCTION €527m

FY 2014 FY 2015

CHANGE 2015 vs 2014: +€711m

Monozukuri Raw materials

GROWTH €480m

(million euros)

slide-10
SLIDE 10

10

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

+492 +197

  • 155

+62

  • 69

COST REDUCTION ANALYSIS

CHANGE 2015 vs 2014: +€527m

G&A Manufacturing & Logistics R&D Warranty Purchasing Monozukuri (million euros)

slide-11
SLIDE 11

11

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

1,609 2,320

+596

  • 69

+61

  • 379

+441 +39 +22

GROUP OPERATING PROFIT VARIANCE ANALYSIS

Currency Volume & partners Mix / Net Enrichment G&A RCI Banque & other activities

COST REDUCTION €527m

FY 2014 FY 2015

CHANGE 2015 vs 2014: +€711m

Monozukuri Raw materials

GROWTH €480m

(million euros)

slide-12
SLIDE 12

12

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

OTHER OPERATING INCOME & EXPENSES

2015 2014

Net restructuring costs (incl. competitiveness agreement in France)

  • 157
  • 305

Impairment of assets / reversal

  • 53
  • 153

RCI Banque (mainly change in regulation)

  • 50

Profit / loss on asset sales +10 +7 Others +1

  • 3

Total other operating income & expenses

  • 199
  • 504

(million euros)

slide-13
SLIDE 13

13

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

FY 2015 FINANCIAL RESULTS

2015 2014

CHANGE

Revenues 45,327 41,055 +10.4% Operating profit 2,320 1,609 +711 in % of revenues 5.1% 3.9% +1.2pts Other operating income & expenses

  • 199
  • 504

+305 EBIT 2,121 1,105 +1,016 Net financial income & expenses

  • 221
  • 333

+112 Associated companies 1,371 1,362 +9 Current & deferred taxes

  • 311
  • 136
  • 175

Net income 2,960 1,998 +962

(million euros)

slide-14
SLIDE 14

14

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

ASSOCIATED COMPANIES

2015 2014

CHANGE

NISSAN 1,976 1,559 +417 AVTOVAZ (1)

  • 620
  • 182
  • 438

Others 15

  • 15

+30 Total associated companies 1,371 1,362 +9

(1) In 2015 the 3-month time lag has been removed, therefore AVTOVAZ contribution is based on net income between January 1, 2015 and December 31, 2015 In 2014, AVTOVAZ contribution was based on net income between October 1, 2013 and September 30, 2014

(million euros)

slide-15
SLIDE 15

15

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

FY 2015 FINANCIAL RESULTS

2015 2014

CHANGE

Revenues 45,327 41,055 +10.4% Operating profit 2,320 1,609 +711 in % of revenues 5.1% 3.9% +1.2pts Other operating income & expenses

  • 199
  • 504

+305 EBIT 2,121 1,105 +1,016 Net financial income & expenses

  • 221
  • 333

+112 Associated companies 1,371 1,362 +9 Current & deferred taxes

  • 311
  • 136
  • 175

Net income 2,960 1,998 +962

(million euros)

slide-16
SLIDE 16

16

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

3,451 1,033 557

+663 +581

  • 599
  • 458

AUTOMOTIVE NET CASH POSITION

Operational free cash flow Cash flow

Change in WCR Dividends paid Net tangible & intangible investments

  • 3,081

Net change In cash

Dividends received from listed co. Capitalized R&D

  • 876

Financial investments & others Net capex

  • 1,853

DEC 31, 2014 : €2,104m DEC 31, 2015 : €2,661m

(million euros)

Leased Vehicles

  • 352
slide-17
SLIDE 17

17

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

NEW VEHICLE DISTRIBUTION STOCK

488 527 495 493 459 515 510 503 465 100 255 158 253 106 251 177 260 141 388 272 337 240 353 264 333 243 324

DEC'13 MAR'14 JUN'14 SEP'14 DEC'14 MAR'15 JUN'15 SEP'15 DEC'15

GROUP INDEPENDENT DEALERS TOTAL

Number of days of sales (previous period)

75 76 63 62 74 57 74 64 53

(IN K UNITS)

slide-18
SLIDE 18

18

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

LIQUIDITY RESERVES Cash €11.6bn Available credit lines €3.2bn TOTAL €14.8bn LIQUIDITY RESERVES Cash €11.6bn Available credit lines €3.3bn TOTAL €14.9bn

AUTOMOTIVE DIVISION LIQUIDITY

DECEMBER 2014 DECEMBER 2015

slide-19
SLIDE 19

19

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

RCI BANQUE

(in percentage of average loans outstanding)

2015 2014

New financings (€bn) 15.6 12.6 Average loans outstanding (€bn) 28.2 25.4 Net banking income* 4.82% 4.95%** Cost of risk (customer & dealer)

  • 0.33%
  • 0.43%

Operating expenses*

  • 1.51%
  • 1.58%

Pretax income* 2.99% 2.93%** Operating profit (€m) 824 751

* Excluding non recurring items ** Restated

slide-20
SLIDE 20

20

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

End 2015 End 2014

DEPOSITS 10.2 6.5

  • /w GERMANY

7.0 4.4

  • /w FRANCE

1.3 1.8

  • /w UNITED KINGDOM

1.3

  • /w AUSTRIA

0.6 0.4

RCI BANQUE RETAIL DEPOSIT ACTIVITY

(billion euros)

slide-21
SLIDE 21

21

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

2015 REVIEW & 2016 OUTLOOK

CARLOS GHOSN

Chairman - Chief Executive Officer

02

slide-22
SLIDE 22

22

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

2015: GUIDANCE FULLY REACHED

* at constant exchange rates

REVENUES 2015 > 2014* GROUP & AUTOMOTIVE OP. MARGIN 2015 > 2014 AUTOMOTIVE OPERATIONAL FREE CASH FLOW > 0

slide-23
SLIDE 23

23

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

SUCCESSFUL LAUNCHES

MARCH 2015

IN EUROPE OUTSIDE EUROPE

MAY 2015 DECEMBER 2015

NEW ESPACE Registrations: 21 Ku x3 vs Espace IV KADJAR Registrations: 54 Ku TALISMAN Orders: 5 Ku

at end January

KWID Orders: 100 Ku

at end January

DUSTER OROCH Registrations: 3,5 Ku

SEPTEMBER 2015 NOVEMBER 2015

slide-24
SLIDE 24

24

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

A SIGNIFICANT STEP TOWARDS “DRIVE THE CHANGE” TARGETS

1.9% 3.0% 3.9% 5.1%

2012 restated 2013 2014 2015

> 5%

in 2017*

GROUP OPERATING MARGIN

41.3 40.9 41.1 45.3

2012 2013 2014 2015

GROUP REVENUES

€ 50 Bn

in 2017*

* DRIVE THE CHANGE TARGET

AHEAD OF TARGET ON TRACK

slide-25
SLIDE 25

25

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

ESTATE TALISMAN SCENIC SHORT SCENIC LONG KADJAR China CROSSOVER PICK-UP 1T CROSSOVER

RENEWAL OF OUR RANGE 10 LAUNCHES IN 2016

EUROPE INTERNATIONAL

C Segment - Hatch

H1 2016 H2 2016 H2 2016 H1 2016

C Segment - MPV

H2 2016

C Segment C Segment - MPV D Segment

H2 2016 H2 2016 H2 2016

B Segment

H2 2016

C Segment

H1 2016

SEDAN D Segment - Estate NEW MEGANE

slide-26
SLIDE 26

26

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

4 KEY-FUNCTIONS CONVERGENCE ALLIANCE SYNERGIES

2009 2010 2011 2012 2013 2014 2015 2016e Renault Nissan

> €4.3bn

€3.8bn

* estimated

ALLIANCE SYNERGIES

PURCHASING UPSTREAM ENGINEERING HUMAN RESOURCES MANUFACTURING & LOGISTICS €4.1bn*

slide-27
SLIDE 27

27

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

2016 TIV OUTLOOK

* PC+LCV INCLUDING USA & CANADA

EUROPE +2% FRANCE +2% RUSSIA

  • 12%

BRAZIL

  • 6%

INDIA +8% CHINA +4% to +5%

UNCERTAINTIES IN EMERGING MARKETS

GLOBAL TIV *

+ 1% to + 2%

slide-28
SLIDE 28

28

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

GLOBAL FOOTPRINT 13 STARTS OF PRODUCTION IN THE WORLD IN 2016!

4 SOP 5 SOP 2 SOP 2 SOP

SOP : Start Of Production

slide-29
SLIDE 29

29

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

GROWTH OPPORTUNITY Autonomous driving Connected vehicle Electric vehicle

slide-30
SLIDE 30

30

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

OUTLOOK 2016

THE GROUP* IS AIMING TO:

  • Increase group revenues (at constant exchange rates)
  • Improve group operating margin
  • Generate a positive Automotive operational free cash flow

* at constant scope of consolidation

slide-31
SLIDE 31

31

INVESTOR RELATIONS RENAULT FY 2015 PRESENTATION FEBRUARY 12TH 2016 PROPERTY OF GROUPE RENAULT

QUESTIONS & ANSWERS

03