RENAULT GROUP CHEUVREUX AUTUMN 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 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. 2
RENAULT GROUP UNIT SALES H1 2012 vs H1 2011 K units (PC+LCV) 1 400 1,374 1,328 1 200 1 000 800 832 708 600 400 200 80 104 171 184 179 215 113 117 0 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 % - 14.9 % + 29.4 % + 7.9 % + 20.4 % + 3.5 % INTERNATIONAL + 14.3 % 3
INTERNATIONAL SALES EXPANSION % OF UNIT SALES OUTSIDE EUROPE 43 % 47 % 35 % 37 % 34 % 37 % 17 % 17 % 17 % 19 % 23 % 27 % 30 % 11 % 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 H1 2012 4
MORE EMERGING COUNTRIES IN THE GROUP S TOP 10 MARKETS 2010 TOP MARKET RANKING H1 2012 TOP MARKET RANKING 01 FRANCE 01 FRANCE 02 GERMANY 02 BRAZIL 03 BRAZIL 03 RUSSIA 04 04 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
H1 2012 FINANCIAL RESULTS H1 2011 H1 2012 CHANGE Revenues 21,101 20,935-166 Operating margin + 630 + 482-148 in % of revenues + 3.0 % + 2.3 % - 0.7 pts Other operating income & expenses + 142 + 37-105 EBIT + 772 + 519-253 Net financial income & expenses -81-127 -46 Associated companies + 557 + 630 + 73 Current & deferred taxes + 5-236 -241 Net income + 1,253 + 786-467 (million euros) 6
AUTOMOTIVE REVENUES VARIANCE ANALYSIS CHANGE H1 2012 / H1 2011 : - 280m 20,143 + 5 Currency - 553 Volume - 217 + 383 Geographical mix Mix + 45-190 Sales to partners Others + 0.0 pts -2.7 pts - 1.1 pts + 1.9 pts + 0.2 pts - 0.9 pts + 1.2 pts + 246 19,863-1.4 % H1 2011 H1 2012 (million euros) Price 7
GROUP OPERATING MARGIN VARIANCE ANALYSIS CHANGE H1 2012 / H1 2011 : - 148m + 269m + 3 630 Currency - 176 Volume - 211-72 Mix / price enrichment Raw materials Purchasing + 344-26 Warranty - 72 Manufacturing & logistics R&D + 23 G&A + 59-13 RCI - 8 Others 482 H1 2011 H1 2012 (million euros) 8
OPERATING MARGIN BY ACTIVITY H1 2011 H1 2012 CHANGE AUTOMOTIVE + 221 + 87-134 % Automotive revenues + 1.1 % + 0.4 % - 0.7 pts SALES FINANCING + 409 + 395-14 % Sales Financing revenues + 42.7 % + 36.8 % - 5.9 pts GROUP OPERATING MARGIN + 630 + 482-148 % Group revenues + 3.0 % + 2.3 % - 0.7 pts (million euros) 9
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 - 945 Net capex - 421 Capitalized R&D - 172 -xx Operational free cash flow - 200 Dividends received from listed co. + 272-346 Dividends paid - 245 Financial investments & others Increase in net debt -519 (million euros) 10
DISTRIBUTION STOCK NEW VEHICLE PHYSICAL DISTRIBUTION STOCK IN K UNITS 510 480 365 323 315 313 324 356 376 360 366 310 401 455 446 405 268 219 240 233 198 186 176 191 208 181 184 252 162 165 200 212 215 213 179 143 169 147 153 165 176 168 182 148 153 482 262 220 459 279 180 TOTAL INDEPENDENT DEALERS GROUP 69 80 67 60 45 52 47 50 51 56 49 53 59 65 52 69 61 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
FIXED COST UNDER STRICT CONTROL! CAPEX AND R&D * 2009 2010 H1 2011 2011 H1 2012 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 H1 2011 12
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
NEW LOGAN 14
NEW SANDERO 15
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 2017 @ 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
TIV & GROUP UNIT SALES AUGUST 2012 YTD GLOBAL* MONDE TIV + 7.0 % GROUP - 3.0 % EUROPE TIV - 7.4 % GROUP - 14.3 % EURASIA TIV + 13.8 % GROUP + 24.9 % EUROMED-AFRICA TIV + 4.2 % GROUP + 5.1 % AMERICAS TIV + 6.1 % GROUP + 23.6 % ASIA-PACIFIC TIV + 10.5 % GROUP - 2.0 % RENAULT GROUP **PC+LCV including USA & Canada 20th, SEPTEMBER 2012 17
RENAULT GROUP UNIT SALES AUGUST 2012 YTD vs 2011 K units (PC+LCV) 2 000 1 800 1,773 1,720 1 600 1 400 1 200 1 000 800 1 027 881 600 400 200 109 136 228 239 247 305 162 159 0 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 GLOBAL EUROPE EURASIA EUROMED-AFRICA AMERICAS ASIA- PACIFIC -3.0 % - 14.3 % + 24.9 % + 5.1 % + 23.6 % -2.0 % INTERNATIONAL + 12.6 % 18
Q&A 19