PROPERTY OF GROUPE RENAULT
1
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
Q3 2018 CONFERENCE INVESTOR RELATIONS Q3 2018 PRESENTATION OCTOBER - - PowerPoint PPT Presentation
Q3 2018 CONFERENCE INVESTOR RELATIONS Q3 2018 PRESENTATION OCTOBER 23RD 2018 PROPERTY OF GROUPE RENAULT 1 DISCLAIMER Information contained within this document may contain forward looking statements. Although the Company considers that such
PROPERTY OF GROUPE RENAULT
1
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
PROPERTY OF GROUPE RENAULT
2
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
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.
PROPERTY OF GROUPE RENAULT
3
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
Q3 2018 COMMERCIAL RESULTS UPDATE THIERRY KOSKAS EVP, SALES & MARKETING
Q3 2018 REVENUES & OUTLOOK CLOTILDE DELBOS EVP & CFO
AGENDA
PROPERTY OF GROUPE RENAULT
4
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
KEY TAKE-AWAYS
▪ WLTP WELL MANAGED ▪ PRE BUYING IMPACT IN Q3 EUROPEAN MARKET ▪ STRONG EFFORT TO COMPENSATE ADVERSE FX THROUGH PRICE INCREASES ▪ SHARP DECREASE IN DEMAND IN SOME OF OUR KEY MARKETS ▪ RISK: LOW VISIBILITY FOR Q4 IN EUROPE ▪ OPPORTUNITY: RUSSIA (VAZ) & BRAZIL ▪ FULL-YEAR GUIDANCE CONFIRMED
PROPERTY OF GROUPE RENAULT
5
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
PROPERTY OF GROUPE RENAULT
6
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
* PC+LCV including USA & Canada
TIV EVOLUTION Q3 2018 VS Q3 2017
RUSSIA +9.2% TURKEY
ALGERIA +39.8% MOROCCO
IRAN
INDIA
BRAZIL +11.9% ARGENTINA
COLOMBIA +4.7%
WORLD*
TIV
EURASIA
TIV
AFRICA-ME-INDIA
TIV
AMERICAS
TIV +0.2%
ASIA-PACIFIC
TIV
EUROPE
TIV +0.8% FRANCE +10.2% GERMANY +1.5% UK
SPAIN +14.3% ITALY
CHINA
SOUTH KOREA -2.9%
PROPERTY OF GROUPE RENAULT
7
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
GROUPE RENAULT’S UNIT REGISTRATIONS Q3 2018 VS Q3 2017
K units (PC+LCV)
WORLD MARKET SHARE: 4.0% +0.2pts
TIV -3.0% GROUP -2.0% with J/H
Renault, Dacia, Lada, RSM, Alpine Renault, Dacia, Lada, RSM, Alpine Jinbei, Huasong (J/H)
GLOBAL EUROPE EURASIA AMI AMERICAS ASPA GROUP with JH +2.9% +8.6%
+0.2% +72.0%
GROUP w/o JH
TIV
+0.8%
+0.2%
INTERNATIONAL
PROPERTY OF GROUPE RENAULT
8
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
36% 42% 48% 55% 52% 48%
REGIONAL SALES BREAKDOWN
WEIGHT OF INTERNATIONAL SALES
TOP 10 MARKETS BY VOLUME Q3 (in K units)
01 02 03 04 05 06 07 08 09 10 Volume Q3 2018 Market share vs. Q3 2017
FRANCE
142 25.0%
RUSSIA
122 27.2%
GERMANY
64 7.1% +1.3pts
BRAZIL
58 9.0% +0.5pts
CHINA (incl. JH)
50 0.8% +0.5pts
SPAIN
47 13.1%
ITALY
43 10.6% +1.1pts
ARGENTINA
26 14.7% +0.4pts
IRAN
24 12.4% +1.3pts
UNITED KINGDOM
23 3.4%
PC+LCV
55% 52% 48% 46% 48% 54% 52% 45% 48% 52% 54% 52% 46% 48%
Q3 2012 Q3 2013 Q3 2014 Q3 2015 Q3 2016 Q3 2017 Q3 2018
International Europe
PROPERTY OF GROUPE RENAULT
9
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
REGIONAL SALES BREAKDOWN
46% 48% 15% 11% 21% 20% 13% 12% 5% 9% Q3 2017 Q3 2018
Group sales PC+LCV - Q3
EUROPE AFRICA MIDDLE EAST INDIA EURASIA AMERICAS ASIA PACIFIC
PROPERTY OF GROUPE RENAULT
10
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
Duster 1st SUV in Europe
PC Retail (All SUV segments–YTD August 2018)
KWID AMERICAS
In A-segment ▪ BRAZIL : #2 ▪ ARGENTINA : #2
DUSTER & NEW DUSTER
In C-Crossover segment ▪ FRANCE : #2 ▪ EUROPE : #4
EV CO-LEADER WITH NISSAN IN EUROPE
NEW MODELS – PERFORMANCE YTD SEPTEMBER 2018
ALPINE
▪ 5,250 reservations in Europe. ▪ Launch in Australia & Japan.
PROPERTY OF GROUPE RENAULT
11
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
PROPERTY OF GROUPE RENAULT
12
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
Q3 2018 GROUP REVENUES
In million euros
Q3 2017 Q3 2018 CHANGE CHANGE
at constant exchange rate
GLOBAL UNIT SALES (units)
866,546 891,539* +2.9%*
GROUP REVENUES
12,218 11,484
10,974 10,057
634 627
+11.4%
FINANCING
610 800 +31.1%** +37.1%**
* Including Jinbei & Huasong. Change without Jinbei & Huasong registrations: -1.7%
**Impact of the change in the accounting treatment of interest rate subsidies : -€142m on the Automotive excluding AVTOVAZ segment / +€142m on sales financing *** AVTOVAZ net of eliminations Nota Bene: revenues do not take into account the application of the requirements of IAS 29 - Financial Reporting in Hyperinflationary Economy for our business in Argentina, as the implementation of this standard has not yet been completed. This standard will be applied in our 2018 full year financials effective retroactively from January 1st, 2018.
PROPERTY OF GROUPE RENAULT
13
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
Currency Volume Geographic mix Sales to partners Others*
+0.7 pts +0.2 pts +1.6 pts
Price
CHANGE Q3 2018 vs Q3 2017: -€917m
Q3 2017 Q3 2018
(million euros)
Product mix
* 10,974
+181 +19 +76
REVENUES VARIANCE ANALYSIS
10,057
* Including a change in the accounting treatment of interest rate subsidies : -€142m on the Automotive excluding AVTOVAZ segment / +€142m on sales financing
AUTOMOTIVE EXCLUDING AVTOVAZ
Q3 2018 Q3 2017
+190*
Automotive Avtovaz Sales Financing 11,484
GROUPE RENAULT
12,218
PROPERTY OF GROUPE RENAULT
14
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
591 565 670 620 609 613 697 660 588 267 166 326 209 275 190 340 236 286 324 399 344 411 334 423 357 424 302
SEP'16 DEC'16 MAR'17 JUN'17 SEP'17 DEC'17 MAR'18 JUN'18 SEP'18
GROUP INDEPENDENT DEALERS TOTAL
Number of days of sales (backward) (IN K UNITS)
76 59 78 63
NEW VEHICLE DISTRIBUTION STOCK EXCLUDING AVTOVAZ
61 71 57 76 68
PROPERTY OF GROUPE RENAULT
15
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
RCI BANQUE PERFORMANCE
Q3 2017 Q3 2018 CHANGE
REVENUES (€m)
610 800* +31.1%*
AVERAGE PERFORMING ASSETS (€m)
40,132 45,311 +12.9%
NEW CONTRACTS (units)
435,066 424,004
NEW FINANCINGS (€m)
5,022 5,016
*Impact of the change in the accounting treatment of interest rate subsidies : +€142m on sales financing
PROPERTY OF GROUPE RENAULT
16
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
2018 TIV OUTLOOK
RUSSIA
>+10%
CHINA
+2%
INDIA
+8%
BRAZIL
+10%
FRANCE
>+4%
EUROPE
>+1.5%
GLOBAL TIV*
+2%
* PC+LCV including USA & Canada
PROPERTY OF GROUPE RENAULT
17
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
2018 OUTLOOK
THE GROUP IS AIMING TO:
* Excluding IFRS 15 impact
▪ INCREASE GROUP REVENUES* (AT CONSTANT EXCHANGE RATES AND PERIMETER) ▪ MAINTAIN GROUP OPERATING MARGIN ABOVE 6.0%* ▪ GENERATE A POSITIVE AUTOMOTIVE OPERATIONAL FREE CASH FLOW
PROPERTY OF GROUPE RENAULT
18
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
PROPERTY OF GROUPE RENAULT
19
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
PROPERTY OF GROUPE RENAULT
20
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
2,749 1,423 380 508 292 145 2,971 1,503 349 546 325 248
2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018
K units (PC+LCV)
GROUPE RENAULT’S UNIT REGISTRATIONS YTD 2018 VS YTD 2017
GLOBAL EUROPE AMI EURASIA AMERICAS ASPA GROUP with JH +8.1% +5.6%
+7.5% +11.3% +70.3%
GROUP w/o JH
+3.5%
TIV +1.8% +2.3% +2.6% +3.1% +4.0% +2.0% INTERNATIONAL: +10.7% with JH
WORLD MARKET SHARE: 4.3% (+0.2pts)
PROPERTY OF GROUPE RENAULT
21
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
Q3 2018 YTD GROUP REVENUES
In million euros
Q3 2017
YTD
Q3 2018
YTD
CHANGE
GLOBAL UNIT SALES (Kunits)
2,749 2,971* +8.1%*
GROUP REVENUES
41,755 41,441
37,969 36,924
1,925 2,104 +9.3%
1,861 2,413 +29.7%**
* Including Jinbei & Huasong. Change without Jinbei & Huasong registrations: +3.5% ** Impact of the change in the accounting treatment of interest rate subsidies : -€420m on the Automotive excluding AVTOVAZ segment / +€420m on sales financing *** AVTOVAZ net of eliminations Nota Bene: Revenues do not take into account the application of the requirements of IAS 29 - Financial Reporting in Hyperinflationary Economy for our business in Argentina, as the implementation of this standard has not yet been completed. This standard will be applied in our 2018 full year financials effective retroactively from January 1st, 2018.
PROPERTY OF GROUPE RENAULT
22
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
Currency Volume Geographic mix Sales to partners Others
+1.5 pts
+0.1 pts +1.3 pts
+0.0 pts Price
CHANGE Q3 YTD 2018 vs Q3 YTD 2017: -€1,045m
Q3 2017 YTD Q3 2018 YTD
(million euros) Product mix
36,924* 37,969
+554
+505 +42
+34*
AUTOMOTIVE EXCLUDING AVTOVAZ REVENUES VARIANCE ANALYSIS
* Including a change in the accounting treatment of interest rate subsidies for -420 €m on the Automotive excluding AVTOVAZ segment
PROPERTY OF GROUPE RENAULT
23
INVESTOR RELATIONS – Q3 2018 PRESENTATION OCTOBER 23RD 2018
RCI BANQUE PERFORMANCE YTD
Q3 2017
YTD
Q3 2018
YTD CHANGE
REVENUES (€m)
1,861 2,413* +29.7%*
AVERAGE PERFORMING ASSETS (€m)
39,091 44,238 +13.2%
NEW CONTRACTS (units)
1,317,692 1,371,150 +4.1%
NEW FINANCINGS (€m)
15,374 16,071 +4.5%
* Impact of the change in the accounting treatment of interest rate subsidies : +€420m on sales financing