Carlos GHOSN President and CEO 2009 MIXTE GENERAL MEETING MAY 6th, - - PowerPoint PPT Presentation

▶
carlos ghosn
SMART_READER_LITE
LIVE PREVIEW

Carlos GHOSN President and CEO 2009 MIXTE GENERAL MEETING MAY 6th, - - PowerPoint PPT Presentation

Dec 04, 2022 35 likes •663 views

Carlos GHOSN President and CEO 2009 MIXTE GENERAL MEETING MAY 6th, 2009 EXECUTIVE COMMITTEE Carlos GHOSN President & CEO Patrick PELATA COO Odile DESFORGES Philippe KLEIN Michel GORNET EVP, Plan, Product planning EVP, Manufacturing

slide-1
SLIDE 1

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

Carlos GHOSN

President and CEO

slide-2
SLIDE 2

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

EXECUTIVE COMMITTEE

Carlos GHOSN

President & CEO

Odile DESFORGES

EVP, Engineering and Quality

Jérôme STOLL

EVP, Sales & Marketing Europe Region Leader

Philippe KLEIN

EVP, Plan, Product planning Programs

Katsumi NAKAMURA

Asia-Africa Region Leader

Michel GORNET

EVP, Manufacturing and Logistics

Patrick PELATA

COO

Thierry MOULONGUET

EVP, CFO

slide-3
SLIDE 3

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ORDRE DU JOUR

Christian HUSSON

Secrétaire de l’Assemblée

slide-4
SLIDE 4

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

DOCUMENTS ON THE FLOOR OF THE MEETING

! Legal gazette, Bulletin des Annonces Légales Obligatoires,

  • f 20 February 2009, in which notice of this General Meeting

was published ! Legal gazettes, Bulletin des Annonces Légales Obligatoires of 23 March 2009 and Le Journal des Petites Affiches of 23 March 2009, in which the notice of call to the meeting was published ! Legal gazettes, Bulletin des Annonces Légales Obligatoires of 15 April 2009 and Le Journal des Petites Affiches of 15 April 2009, in which the amended notice of call to the meeting was published ! Report on the company’s activity ! Annual financial statements for the company Renault SA

slide-5
SLIDE 5

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

DOCUMENTS ON THE FLOOR OF THE MEETING

! Report by the Statutory Auditors on the company’s financial statements ! Report on regulated agreements concerning Renault s.a.s. ! Report by the Statutory Auditors on internal control procedures, and the report by the Chairman of the Board of Directors pertaining thereto ! Articles of Association in force ! List of registered shareholders in the form of a CD ROM ! Attendance sheet, currently being checked, which will be placed

  • n the floor of the meeting very shortly, as well as the proxy

powers of represented shareholders

slide-6
SLIDE 6

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

DOCUMENTS ON THE FLOOR OF THE MEETING

Documents contained in the brochure : ! Presentation of the resolutions and their wording ! CVs of the directors whose renewal and appointment are being proposed to the General Meeting ! Reports by the Statutory Auditors (on the consolidated financial statements, the company’s financial statements, regulated agreements, equity loans, financial operations concerning the registered capital (12th, 13th, 14th, 15th, 16th and 20th resolutions) ! Special reports to the General Meeting on stock options and bonus share awards ! Report by the Board of Directors to the General Meeting deciding as Extraordinary General Meeting ! Description of the share buy-back programme to be authorised by the General Meeting ! Table setting out the company’s results over the last five financial years

slide-7
SLIDE 7

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

AGENDA OF SHAREHOLDERS’ GENERAL MEETING

As ordinary:

! Approval of the consolidated financial statements for the 2008 financial year (1st resolution) ! Approval of the Company’s financial statements for the 2008 financial year (2nd resolution) ! Appropriation of the results for 2008 (3rd résolution) ! Agreements referred to in the article L.225-38 of the Commercial code (4th resolution) ! Renewal of a director’s term office (5th resolution) ! Appointment of a director (6th resolution) ! Appointment of a director (7th resolution) ! Appointment of a director elected by the employee shareholders (8th resolution) ! Appointment of a director elected by the employee shareholders (9th resolution) ! Report by the statutory auditors on elements used to determine the remuneration of redeemable shares (10th resolution) ! Authorisation for the Company to trade in its own shares on the stock market (11th resolution)

slide-8
SLIDE 8

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

AGENDA OF SHAREHOLDERS’ GENERAL MEETING

As extraordinary:

! Authorisation to cancel holdings of the Company’s own shares (12th resolution) ! Delegation of powers to the Board of directors in order to issue ordinary shares and securities granting access to the registered capital, with maintenance of the shareholders’ preferential subscription right (13th resolution) ! Delegation of powers to the Board of Directors in order to issue ordinary shares and securities granting acess to the registered capital, with exclusion of the shareholders’ preferential right (14th resolution) ! Delegation of powers of the Board of Directors in order to issue ordinary shares and securities granting access to the share capital of another company, as remuneration for contributions in kind made to the Company in the form of shares

  • r securities granting access to share capital of another company (15th resolution)

! Global limitation of authorisations (16th resolution)

slide-9
SLIDE 9

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

AGENDA OF SHAREHOLDERS’ GENERAL MEETING

As extraordinary:

! Delegation of powers to the Board of Directors to increase the Company’s capital by incorporating reserves or profits, share issue premiums or contribution issue premiums (17th resolution) ! Capital increase by the issue of shares reserved to employees (20th resolution)

As ordinary:

! Powers for formalities

(21st resolution)

slide-10
SLIDE 10

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

COMMERCIAL RESULTS

Jérôme STOLL

EVP, Sales & Marketing

slide-11
SLIDE 11

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

2008 COMMERCIAL RESULTS FOR RENAULT GROUP

Thousands of units PC+LCV

Global

2008 2007

2,485 2,382

  • 4.1%
  • 7.2%

Europe

2008 2007

1,624 1,507

Outside Europe + 1.7% + 4.1%

2007 2008

255 245

Americas

424 405

2008 2007

  • 4.6%

EuroMed

2008 2007

192 215

+ 12.3%

Asia Africa

slide-12
SLIDE 12

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

SUCCESS OF THE ENTRY RANGE

50 100 150 200 250 300 350 400 450 500 550 2004 2005 2006 2007 2008

Thousands of units

Over 500,000 sales

Logan berline Logan MCV Logan van Logan pick up Sandero

slide-13
SLIDE 13

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

2009 OUTLOOK

40 44 48 52 56 60 64 68 72 World TIV (million of units)

64 68

  • 19%

55

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

2009 forecast

2008 2009

slide-14
SLIDE 14

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

UNCERTAIN CAR MARKETS IN EUROPE

  • 50%
  • 40%
  • 30%
  • 20%
  • 10%

0% 10% 20%

Europe France Germany Italy GB Spain

H1 2008 Q3 2008 Q4 2008 Q1 2009

slide-15
SLIDE 15

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

UNCERTAIN CAR MARKETS OUTSIDE EUROPE

H1 2008 Q3 2008 Q4 2008 Q1 2009

  • 80%
  • 60%
  • 40%
  • 20%

0% 20% 40%

Romania Russia Turkey South Korea India Brazil Argentina

slide-16
SLIDE 16

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

2009: ONGOING PRODUCT OFFENSIVE

Mégane Renault Sport Trafic ph3 New Master SM3 Scénic & Grand Scénic Clio 3 phase 2 Kangoo be bop Mégane Coupe

1st HALF 2nd HALF

SM5 Mégane Estate

slide-17
SLIDE 17

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

MÉGANE COUPE

slide-18
SLIDE 18

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

KANGOO BE-BOP

slide-19
SLIDE 19

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

NEW CLIO RANGE

slide-20
SLIDE 20

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

NEW GRAND SCENIC

slide-21
SLIDE 21

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

NEW MEGANE ESTATE

slide-22
SLIDE 22

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

NEW MEGANE: SUCCESSFUL LAUNCH

1 2 3 5 6 7 8 9 10 11

12

13 14 4

2008 2009

4

12

slide-23
SLIDE 23

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

2009 COMMERCIAL PERSPECTIVE

! Uncertain markets ! Full year for: New Mégane, Sandero et Symbol ! Product offensive ongoing in 2009: Clio 3 ph2, Mégane Estate, Scénic, Master… " Improvement of market share

slide-24
SLIDE 24

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

  • 22%

Europe

2009 2008

418 326

Q1 2009 COMMERCIAL RESULTS

Thousands of units (PC + LCV)

Global

2009 2008

639 496

  • 22.4%
  • 17.8%

2008 2009

55 67

Americas

66 51

2009 2008

  • 23.8%

EuroMed

2009 2008

59 47

  • 20.2%

Asia Africa

  • incl. France - 11.3%

2009 2008

28 17

  • 40.3%

Eurasia

Outside Europe

  • 23.1%
slide-25
SLIDE 25

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ORDERBANK: VEHICLES NOT YET REGISTERED

Europe Orderbank PC+LCV

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2009 2008 2007

slide-26
SLIDE 26

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

Thierry MOULONGUET

Executive Vice President Chief Financial Officer

FINANCIAL RESULTS

slide-27
SLIDE 27

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

FY 2008 FINANCIAL RESULTS: HIGHLIGHTS

Group revenues

€37.8 bn

Group operating margin

€212 m

Net income

€599 m

Automobile net financial debt

€7.9 bn

slide-28
SLIDE 28

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

Q4 2008: A RAPID & BRUTAL DOWNTURN

+ 4.0%

  • 7.0%
  • 45.0%

+ 4.2% + 0.4%

  • 2.2%

+ 6.5% + 2.5%

  • 3.5%
  • 21.8%

Production Auto Revenues Registrations Q1 2008 Q2 2008 Q3 2008 Q4 2008

  • 30.0%

Change vs. 2007

  • 6.0%
slide-29
SLIDE 29

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

A YEAR OF TWO HALVES

+ 365

441

76

Financial result 599 437

  • 329

0.6% 212 37,791

2008

  • 2,135

2,734

Net income

  • 1,238

1,675

Associated companies

  • 213
  • 116

Other operating income & expenses

  • 2.7pt

3.3%

In % of revenues

  • 1,142

1,354

Operating margin

  • 7.0% (1)

40,682

Revenues Change

2008/2007

2007

(million euros)

(1) On a consistent basis, FY2007 = €40,620 m

slide-30
SLIDE 30

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

Cash Flow Dividends paid

+ 3,061

  • 2,704

+ 546

Fair value

  • 5,856
  • 1,636

Yen impact + Others

  • 1,076

Net tangible & intangible investments incl. R&D Change In WCR

  • 3,385

Investment in AvtoVAZ

  • 662

Increase in net debt

2008 AUTOMOBILE NET FINANCIAL DEBT AT €7.944bn

  • 3,028

Free cash flow + 688

Dividends received from associates

(million euros)

slide-31
SLIDE 31

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

AUTOMOBILE RCI BANQUE

2009 FUNDING - SYNTHESIS

Liquidity reserves

= €3.4 bn

Remboursements 2009

Total = €4.8 bn

2009 Funding already obtained 2009 reimbursments

€3.5 bn

Mid term funding needs

€3 bn

Liquidity reserves

Total = €6.5 bn

2009 mid term funding

= €3 bn

(at Dec 31st 2008)

(at Dec 31st 2008) French State = €3bn EIB= €0.4bn SFEF funding = €1 bn Additional securitization = €1bn Capital market / bank funding? Of which…

  • Cap. Market funding renewals

= €3 bn Credit lines rebuilt = €0.5bn

slide-32
SLIDE 32

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

EVOLUTION OF AUTOMOBILE DIVIDION REVENUES IN Q1’08

Volume Mix/Price Parity Others

  • 31.8%

Contribution to global evolution

€9,727 bn €6,634 bn

slide-33
SLIDE 33

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

EVOLUTION OF RENAULT SHARE PRICE SINCE 2008 ANNUAL GENERAL MEETING (Base 100)

  • 59.2%
  • 35.2%
  • 60.4%
  • 21.5%
  • 44.4%
  • 44.7%

30 60 90 120

2 9 / 4 / 8 1 4 / 5 / 8 2 9 / 5 / 8 1 3 / 6 / 8 2 8 / 6 / 8 1 3 / 7 / 8 2 8 / 7 / 8 1 2 / 8 / 8 2 7 / 8 / 8 1 1 / 9 / 8 2 6 / 9 / 8 1 1 / 1 / 8 2 6 / 1 / 8 1 / 1 1 / 8 2 5 / 1 1 / 8 1 / 1 2 / 8 2 5 / 1 2 / 8 9 / 1 / 9 2 4 / 1 / 9 8 / 2 / 9 2 3 / 2 / 9 1 / 3 / 9 2 5 / 3 / 9 9 / 4 / 9 5 / 5 / 9

Renault CAC 40 PSA Fiat BMW Daimler

slide-34
SLIDE 34

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

EVOLUTION OF RENAULT SHARE SINCE BEGINING OF 2009 (Base 100)

30 60 90 120 150 180 210 31/12/08 08/01/09 16/01/09 24/01/09 01/02/09 09/02/09 17/02/09 25/02/09 05/03/09 13/03/09 21/03/09 29/03/09 06/04/09 14/04/09 22/04/09 05/05/09 Renault CAC 40 PSA Fiat BMW Daimler

+ 45.7% + 45.6% + 75.8% + 4.4% + 0.2% + 27.2%

slide-35
SLIDE 35

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

AN ACTIVE COMMUNICATION POLICY TOWARDS INDIVIDUAL SHAREHOLDERS

! Consultative committee ! Shareholders’ Club ! Individual shareholders’ meeting ! Dedicated web page on the Group site ! Online web function to manage Renault registered shares

slide-36
SLIDE 36

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

Patrick PÉLATA

COO

2008 OPERATIONAL RESULTS & 2009 ACTION PLAN

slide-37
SLIDE 37

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

QUICKLY ADAPT RENAULT TO THE CRISIS

Q1 2008

US & Spain markets fall 2009 2008

SEPTEMBER 2008

Lehman Brothers bailout Financial Crisis

FEBRUARY 2009

Specific Crisis Plan roll-out Social Contract for Times of Crisis

NOV - DEC 2008

Strong market downturn

DECEMBER 2008

Specific Crisis Plan definition

JULY 2008

1st measures

JAN - FEB 2009

Ongoing market degradation

Crisis chronology Renault’s answers

slide-38
SLIDE 38

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ACTION PLAN FOR 2009

AIMING FOR A POSITIVE FREE CASH FLOW

  • 1. Maximize revenue
  • 2. Reduce costs
  • 3. Reduce investments
  • 4. Lower working capital requirement
slide-39
SLIDE 39

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ACTION PLAN FOR 2009

AIMING FOR A POSITIVE FREE CASH FLOW

  • 1. Maximize revenue
  • 2. Reduce costs
  • 3. Reduce investments
  • 4. Lower working capital requirement
slide-40
SLIDE 40

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

DEVELOP SALES ON MOST PROFITABLE CANALS

8 % 9 % 10 % 11 % 12 %

Total market share Private market share + 1 pt market share

Renault + Dacia market share (Passenger Cars) Europe G5 (F, D, I, Sp, GB) – 12 month sliding average

2005 2006 2007 2008 2009

slide-41
SLIDE 41

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ACTION PLAN FOR 2009

AIMING FOR A POSITIVE FREE CASH FLOW

  • 1. Maximize revenue
  • 2. Reduce costs
  • 3. Reduce investments
  • 4. Lower working capital requirement
slide-42
SLIDE 42

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

REDUCE COSTS

  • 20%

Labor costs

  • 15%

R&D

Fixed costs

  • 20%

Markets 2007- 2009 Variation

slide-43
SLIDE 43

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ACTION PLAN FOR 2009

AIMING FOR A POSITIVE FREE CASH FLOW

  • 1. Maximize revenue
  • 2. Reduce costs
  • 3. Reduce investments
  • 4. Lower working capital requirement
slide-44
SLIDE 44

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

REDUCE INVESTMENTS

  • 24%

Investments

  • 20%

Labor costs

  • 15%

R&D

Fixed costs

  • 20%

Markets 2007- 2009 Variation

slide-45
SLIDE 45

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ACTION PLAN FOR 2009

AIMING FOR A POSITIVE FREE CASH FLOW

. Maximize revenue

  • 2. Reduce costs
  • 3. Reduce investments
  • 4. Lower working capital requirement
slide-46
SLIDE 46

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

KEEP ON REDUCING INVENTORIES

5,933 6,565

2,000 4,000 6,000 2009 Target

€ Million

5,900 5,266

  • €800m à - €1bn
  • Dec. 07

June 08

  • Dec. 08

2008 Target

slide-47
SLIDE 47

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ACTION PLAN FOR 2009

AIMING FOR A POSITIVE FREE CASH FLOW

  • 1. Maximize revenue
  • 2. Reduce costs
  • 3. Reduce investments
  • 4. Lower working capital requirement
slide-48
SLIDE 48

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

CAR-SCRAP BONUSES

slide-49
SLIDE 49

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

STRATEGIC PERSPECTIVES

Carlos GHOSN

President & CEO

slide-50
SLIDE 50

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

QUALITY

Laguna TOP 3 in its segment

PROFITABILITY

6% operating profit margin in 2009

GROWTH

+ 800,000 sales between 2005 & 2009

Goal:

Be the most profitable and competitive European volume carmaker

RENAULT’S STRATEGY Commitments:

slide-51
SLIDE 51

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

QUALITY REVOLUTION

slide-52
SLIDE 52

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

PRODUCT LINE-UP ENRICHMENT

Mégane Coupe Grand Scénic Kangoo be bop Symbol/Thalia Grand Modus Clio Estate Kangoo Kangoo Express Logan Pick-Up Laguna Coupé Mégane

Logan MCV

Logan Van Twingo Koléos Sandero Laguna Laguna Estate

2008 2009 2006 2007 18 launches

slide-53
SLIDE 53

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

TECHNOLOGICAL RANGE DEVELOPMENT

Renault, leader in Europe In 2008 60% of sales < 140 g CO2 / km SAFETY ENVIRONMENT

slide-54
SLIDE 54

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

SOURCES OF PROFITABILITY AND GROWTH

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Mégane LCV

Renault Group vehicles sold outside Europe

30% 27% 23% 19% 17% 17% 17% 35%

37%

11%

Logan Family

slide-55
SLIDE 55

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

STAKES

SHORT TERM GOING THROUGH THE CRISIS MID - LONG TERM ADAPTING TO THE NEW AUTOMOTIVE ERA

slide-56
SLIDE 56

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ADAPTING TO THE NEW AUTOMOTIVE ERA

! Long lasting high oil prices ! Increasing environmental expectations

slide-57
SLIDE 57

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ADAPTING TO THE NEW AUTOMOTIVE ERA

! Emerging markets catch-up

slide-58
SLIDE 58

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ENTRY RANGE 5 derivatives based on the Logan Platform

LOGAN PICK UP LOGAN VAN LOGAN MCV LOGAN SEDAN SANDERO

slide-59
SLIDE 59

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

REINFORCE ALLIANCE SYNERGIES

1,5 billion Euros

  • f additional free cash

flow for Renault and Nissan in 2009

slide-60
SLIDE 60

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

ORDRE DU JOUR

Christian HUSSON

Secrétaire de l’Assemblée

slide-61
SLIDE 61

MAY 6th, 2009 2009 MIXTE GENERAL MEETING

61

Summary of the diligences and conclusions described within the following reports*: ! The consolidated financial statements ! The annual financial statements ! The regulated agreements and commitments with related third parties ! The elements used to determine the remuneration

  • f the redeemable shares

! The resolutions in relation with:

! The capital reduction through the cancellation of purchased shares (12th resolution) ! The proposed grants of power to the board of directors for various issues of shares and securities, with the retention and /or cancellation of the shareholders’ preferential subscription right (13th, 14th,15th and 16th resolutions ) ! The proposed grant of powers to the Board of directors to decide on a capital increase reserved to employees (20th resolution)

* Booklet Joint General Meeting inserted into the briefcase given at the reception desk

STATUTORY AUDITORS’ REPORTS