RENAULT GROUP CHEUVREUX AUTUMN CONFERENCE. RENAULT GROUP 20th, SEPTEMBER 2012 RENAULT PROPERTY

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1 RENAULT GROUP CHEUVREUX AUTUMN CONFERENCE

2 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 ( in the section Finance / Regulated Information. 2

3 RENAULT GROUP UNIT SALES H vs H K units (PC+LCV) ,374 1, H1'11 H1'12 H1'11 H1'12 H1'11 H1'12 H1'11 H1'12 H1'11 H1'12 H1'11 H1'12 GLOBAL EUROPE EURASIA EUROMED-AFRICA AMERICAS ASIA- PACIFIC -3.3 % % % % % % INTERNATIONAL % 3

4 INTERNATIONAL SALES EXPANSION % OF UNIT SALES OUTSIDE EUROPE 43 % 47 % 35 % 37 % 34 % 37 % 17 % 17 % 17 % 19 % 23 % 27 % 30 % 11 % H

5 MORE EMERGING COUNTRIES IN THE GROUP S TOP 10 MARKETS 2010 TOP MARKET RANKING H TOP MARKET RANKING 01 FRANCE 01 FRANCE 02 GERMANY 02 BRAZIL 03 BRAZIL 03 RUSSIA SOUTH KOREA GERMANY 05 ITALY 05 ARGENTINA 06 SPAIN 06 ALGERIA 07 TURKEY 07 ITALY 08 UNITED KINGDOM 08 TURKEY 09 RUSSIA 09 IRAN 10 BELGIUM / LUXEMBURG 10 SPAIN 5

6 H FINANCIAL RESULTS H H CHANGE Revenues 21,101 20, Operating margin in % of revenues % % pts Other operating income & expenses EBIT Net financial income & expenses Associated companies Current & deferred taxes Net income + 1, (million euros) 6

7 AUTOMOTIVE REVENUES VARIANCE ANALYSIS CHANGE H / H : - 280m 20, Currency Volume Geographical mix Mix Sales to partners Others pts -2.7 pts pts pts pts pts pts , % H H (million euros) Price 7

8 GROUP OPERATING MARGIN VARIANCE ANALYSIS CHANGE H / H : - 148m + 269m Currency Volume Mix / price enrichment Raw materials Purchasing Warranty - 72 Manufacturing & logistics R&D + 23 G&A RCI - 8 Others 482 H H (million euros) 8

9 OPERATING MARGIN BY ACTIVITY H H CHANGE AUTOMOTIVE % Automotive revenues % % pts SALES FINANCING % Sales Financing revenues % % pts GROUP OPERATING MARGIN % Group revenues % % pts (million euros) 9

10 AUTOMOTIVE NET FINANCIAL DEBT DEC 31 ST 2011 : 299 m JUNE 30 TH 2012 : 818 m + 1,782 Cash flow -444 Net tangible & intangible investments -1,538 Change in WCR Leased vehicles Net capex Capitalized R&D xx Operational free cash flow Dividends received from listed co Dividends paid Financial investments & others Increase in net debt -519 (million euros) 10

11 DISTRIBUTION STOCK NEW VEHICLE PHYSICAL DISTRIBUTION STOCK IN K UNITS TOTAL INDEPENDENT DEALERS GROUP 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 SEP'11 DEC'11 MAR'12 JUN'12 Number of days of sales (previous period) 11

12 FIXED COST UNDER STRICT CONTROL! CAPEX AND R&D * H H NET CAPEX 4.4 % 2.5 % 2.8 % 3.1 % 4.4 % NET R&D 4.1 % 3.6 % 4.1 % 3.8 % 3.8 % TOTAL 8.5 % 6.1 % 6.8 % 7.0 % 8.2 % * Cash values for CAPEX and R&D restated net of asset depreciation and payments received from partners, in % of Group revenues! G&A REDUCTION 59m vs H

13 RISKS & OPPORTUNITIES FOR H2 2012! EUROPEAN ECONOMIC DECLINE! POSSIBLE SLOWDOWN IN EMERGING MARKETS! SUPPLIER BASE IN FRANCE! PRODUCT LAUNCHES (including Entry range)! DISCIPLINED PRICING POLICY! MONOZUKURI / FIXED COST CONTROL 13

14 NEW LOGAN 14

15 NEW SANDERO 15

16 GROUP STRONG LIQUIDITY POSITION AUTOMOTIVE DIVISION LIQUIDITY RESERVES AT JUNE 2012 RCI BANQUE LIQUIDITY RESERVES AT JUNE 2012 Cash = 7.4 Bn Cash = 0.1 Bn Credit lines = 3.7 Bn ECB eligible = 1.8 Bn (of which drawn zero) Credit lines = 4.5 Bn (of which drawn zero) TOTAL = 11.1 Bn TOTAL = 6.4 Bn ISSUED IN H2 2012:! 1 BONDS! 600 m 4.625% ISSUED IN H2 2012:! 2 BONDS! NOK 500 m 2015! KRW 50 bn 2017! SECURITIZATION! 300m Italian Portfolio wal: 1,7 years 16

17 TIV & GROUP UNIT SALES AUGUST 2012 YTD GLOBAL* MONDE TIV % GROUP % EUROPE TIV % GROUP % EURASIA TIV % GROUP % EUROMED-AFRICA TIV % GROUP % AMERICAS TIV % GROUP % ASIA-PACIFIC TIV % GROUP % RENAULT GROUP **PC+LCV including USA & Canada 20th, SEPTEMBER

18 RENAULT GROUP UNIT SALES AUGUST 2012 YTD vs 2011 K units (PC+LCV) ,773 1, GLOBAL EUROPE EURASIA EUROMED-AFRICA AMERICAS ASIA- PACIFIC -3.0 % % % % % -2.0 % INTERNATIONAL % 18

19 Q&A 19