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UBS AUTO CONFERENCE - FRANKFURT 13 SEPTEMBER 2011 RENAULT PROPERTY
RENAULT GROUPUBS CONFERENCE: FRANKFURT 2011
2UBS AUTO CONFERENCE - FRANKFURT RENAULT PROPERTY13 SEPTEMBER 2011
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.renault.com), in the section Finance / Regulated Information.
DISCLAIMER
3UBS AUTO CONFERENCE - FRANKFURT RENAULT PROPERTY13 SEPTEMBER 2011
01 WHERE WE WERE AT END H1
02 UPDATE JULY & AUGUST
03 OUTLOOK
AGENDA
4RENAULT PROPERTYUBS AUTO CONFERENCE - FRANKFURT 13 SEPTEMBER 2011
1 349
898
133 129 143 46
1 374
832
179 154 12980
H1'10 H1'11 H1'10 H1'11 H1'10 H1'11 H1'10 H1'11 H1'10 H1'11 H1'10 H1'11GLOBAL+ 1.9 %
EUROPE - 7.4 %
AMERICAS+ 34.9 %
EURASIA + 73.3 %
INTERNATIONAL + 20.5 %
THOUSAND UNITS(PC + LCV)
RENAULT GROUP UNIT SALES H1 2011 vs. H1 2010
ASIA / AFRICA- 9.5 %
EUROMED+ 20.0 %
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H1 2010 H1 2011 CHANGERevenues 19,668 21,101 + 7.3 %
Operating margin + 780 + 630 - 150
in % of revenues + 4.0 % + 3.0 % - 1.0 pts
Other operating income & expenses - 62 + 142 + 204
Net financial income & expenses - 246 - 81 + 165
Associated companies + 531 + 557 + 26
Current & deferred taxes - 180 + 5 + 185
Net income + 823 + 1,253 + 430
(million euros)
H1 2011 FINANCIAL RESULTS
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AUTOMOTIVE NET FINANCIAL DEBT REDUCTION IN H1 2011
+ 121Operational
free cash flow
+ 1,668Cash flow
- 437ChangeIn WCR
Dividendspaid
Net tangible& intangible investments
+ 214Decrease in net debt
Dividends received
fromassociates
Leased vehicles
- 435Capitalized
R&DFinancial
Investments & Others
- 585Net Capex
-90 + 144 - 89+ 38
(million euros)
DEC 31ST 2010 : € 1,435 mJUNE 30TH 2011 : € 1,221 m
UPDATE JULY & AUGUST
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TIV & GROUP UNIT SALES 2011 vs. 2010 : JULY & AUGUST
TIV + 28.7 %GROUP + 67.3 %
TIV + 2.1 %GROUP - 8.2 %
TIV + 3.8 %GROUP + 15.4 %
TIV - 3.4 %GROUP + 19.9 %
TIV + 8.8 %GROUP + 14.6 %
TIV + 1.5 % GROUP + 4.9 %
*
*Preliminary figures PC+LCV including USA & Canada
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379
213
60 44 4617
398
196
68 50 5528
2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 GLOBAL+ 4.9%
EUROPE - 8.2 %
AMERICAS+ 14.6 %
EURASIA + 67.3 %
INTERNATIONAL + 21.6 %
THOUSAND UNITS(PC + LCV)
RENAULT GROUP UNIT SALES 2011 vs. 2010 : JULY & AUGUST INTERNATIONAL SALES MIX AT 51% (+ 7.0 PTS VS. 2010)
ASIA / AFRICA+ 19.9 %
EUROMED+ 15.4 %
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EUROPEAN ORDERBOOK
! ORDERBOOK END JUNE:
! +11 % VS JUNE 2010
! O/W FRANCE +18 %
! ORDERTAKE IN JULY & AUGUST IN LINE WITH NORMAL SEASONALITY
! EUROPEAN ORDERBOOK AT END AUGUST 2011: +10 % VS AUGUST 2010
PC + LCV ORDER PORTFOLIO(Europe Region)
JUNE’10JUNE’09JUNE’08JUNE’07 JUNE’11
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OUTLOOK
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FULL YEAR 2011 TOTAL INDUSTRY VOLUMES (PC+LCV VS FY 2010)
! GLOBAL + 3 % to + 4%
! EUROPE 0 % to - 2 %
! FRANCE - 4 % to - 6 %
SUPPLY CONSTRAINTS IMPROVING IN Q3
! PRODUCTION RAMP UP
2011 FULL YEAR OUTLOOK CONFIRMED
! UNIT SALES AND REVENUES > 2010
! AUTOMOTIVE OPERATIONAL FREE CASH FLOW > €500m
! CAPEX + R&D < 9 % OF GROUP REVENUES
OUTLOOK PUBLISHED END H1
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4.04.04.14.14.23.74.24.5
7.18.8
6.35.43.4
1.13.63.7
9.510.4
8.2
4.8
7.67.8
12.811.1
Dec
07
June
08
Dec
08
June
09
Dec
09
June
10
Dec
10
June
11
AVAILABLE CREDIT LINES CASH
AUTOMOTIVE LIQUIDITY RESERVE
€ billion
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0.7
1.1
0.5
1.6
1.21.2
STD 2011 2012 2013 2014 2015 >2016
RENAULT SA LONG TERM DEBT MATURITY
€ billion
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69
80
67
60
5247
50 51 4953
5956
45
JUN'08 SEP'08 DEC'08 MAR'09 JUN'09 SEP'09 DEC'09 MAR'10 JUN'10 SEP'10 DEC'10 MAR'11 JUN'11
INVENTORY MANAGEMENT
Number of days of sales (previous period)Renault balance sheet + independent dealers
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GROUP UNIT SALES BREAKDOWN
26% 25%
39%32%
35%43%
2007 2011 e
EUROPE
excl. France
FRANCE
INTERNATIONAL
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CAPITAL EXPENDITURE AND R&D
10,4%
11,8%11,2% 11,1% 11,1%
8,9%
6,5%7,2%
10%
12,5%11,2%
10,1%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
June
2011
2011
2012
2013
TARGET: CAP 9%
Net capital expenditure and net R&D in % of group revenues
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OPTIMISED R&D AND INVESTMENT EXPENDITURES
LCV PLATFORMSshared with Nissan,
Daimler and GM
A PLATFORMwith Daimler
(Smart/Twingo)
B PLATFORM + M0 PLATFORM
with shared modules
C & D PLATFORMshared with Nissan
2011 2012 2013 2014 - 2016
EV RANGE
Energy 130 dci Energy 110 Tce ….
Tangiers Chennai
New Alliance industrial capacityInternal combustion
AvtoVaz
Zero emission
….
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NEW MODEL REGIONAL INDUSTRIALIZATION FACELIFT
2011 2012
A/B
D/E
C
M0
EV KANGOO ZE FLUENCE ZE TWIZY ZOE
TWINGO
C-SEGMENT MODEL YEAR
QM5 / KOLEOS D-SEGMENT MODEL YEAR
LOGANIran
B HATCHIndia
B SEDANIndia CLIO 4 A-ENTRY
Argentina
SM7
FAMILY CAR SMALL LCV
FLUENCEIndia
KOLEOSIndia
DUSTERBrazil
DUSTERRussia
DUSTERColumbia
DUSTERIndia
SANDEROColumbia
SANDEROBrazil
PRODUCT LAUNCHES
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FROM CONCEPT … TO REALITY : EV INFRASTRUCTURE
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Mantes (France)
Brescia (Italy)
Hamburg (Germany)
First customer deliveries
FROM CONCEPT … TO REALITY : EV COMMERCIALIZATION
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2010 2011 2012 2013 2014
TELL THE STORY
DELIVER ONTHE STORY
DEZIR CLIO IV
CAPTURE
R SPACE
FRENZY
Z 28
Z 29
FROM CONCEPT … TO REALITY : NEW DESIGN STRATEGY
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CONCEPT CAR FRENDZY
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Q&A