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Transcript of GROUPE RENAULT DEUTSCHE BANK CONFERENCE · PDF fileinvestor relations –h1 results...
PROPERTY OF GROUPE RENAULT 1INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
GROUPE RENAULT
DEUTSCHE BANK CONFERENCE – FRANKFURT 2017
PROPERTY OF GROUPE RENAULT 2INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
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 3INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
DRIVE THE CHANGE HOW WE MET OUR TARGETS
01
PROPERTY OF GROUPE RENAULT 4INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
HOW WE MET OUR TARGETS (2010 - 2016 UPDATE)
GROWTH TARGET
OVER ACHIEVED
39.041.1
51.2
2010 2014 2016
Grouprevenues
PROFITABILITY TARGET
OVER ACHIEVED
POSITIVE FCF
EVERY YEAR
1.1%
2.2%
4.9%
2.8%
3.9%
6.4%
2010 2014 2016
Automotive COP
Group COP 1,084
597
827
1,083 1,033
2011 2012 2013 2014 2015 2016
Free cash flow1,107
PROPERTY OF GROUPE RENAULT 5INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
HOW WE MET OUR TARGETS PRODUCT ENRICHMENT
RANGE BEFORE 2010 RANGE 2010 - 2016
EXTENDED AUTONOMY
PROPERTY OF GROUPE RENAULT 6INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
HOW WE MET OUR TARGETS SALES TO PARTNERS
40% contributionto growth of revenues
2010 - 2016
PROPERTY OF GROUPE RENAULT 7INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
HOW WE INTENDED TO IMPROVE OPERATING MARGIN
3.0 %
> 5 %
VolumeCost
reduction
Enrichment
Net
Raw
material
Provision
FOREX
FY2013 > FY2016
PROPERTY OF GROUPE RENAULT 8INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
WHAT WE ACHIEVED
1,0992.8%
3,2826.4%
Volume
EnrichmentNet
FOREX
2011 2016
Raw material
(million euros)
Cost
reductions
> €3billion
2010 – 2016 CUMULATED
PROPERTY OF GROUPE RENAULT 9INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
4 KEY-FUNCTIONS CONVERGENCEALLIANCE SYNERGIES
2009 2010 2011 2012 2013 2014 2015 2016 2018
Renault NissanO
BJE
CT
IVE
€5.5bn
€3.8bn
ACCELERATING ALLIANCE SYNERGIES
PURCHASINGUPSTREAM
ENGINEERING
HUMANRESOURCES
MANUFACTURING& LOGISTICS
€4.3bn
4 KEY-FUNCTIONS CONVERGENCE
€5 bn
PROPERTY OF GROUPE RENAULT 10INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
2017 SALES RESULTS – YTD JULY
02
PROPERTY OF GROUPE RENAULT 11INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
1 963
1 098
346253
18977
2170
1163
386292
215115
YTD'16 YTD'17 YTD'16 YTD'17 YTD'16 YTD'17 YTD'16 YTD'17 YTD'16 YTD'17 YTD'16 YTD'17
GLOBAL
+10.5%
+10.3%
EUROPE
+5.9%
+5.8%
AMERICAS
+13.6%
+13.5%
ASIA-PACIFIC
+48.8%
+47.7%
AFRICA-ME-INDIA
+15.7%
+15.5%
EURASIA
+11.4%
+10.6%
INTERNATIONAL +16.5%
K units
(PC+LCV)
+2.6% TIV +4.3% +5.1% +0.4% +7.8% +3.8%
GROUP
GROUP excl. LADA
WORLD MARKET SHARE: 4.1% (+0.3 pts)
GROUPE RENAULT’S UNIT REGISTRATIONS YTD JULY 2017 VS 2016 (incl. Lada)
PROPERTY OF GROUPE RENAULT 12INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
FOCUS ON EV
ZOE IS THE ONLY AFFORDABLE EV WITH 400KM HOMOLOGATED RANGE
New ZE 40 battery with 400km NEDC range
300km in real life driving conditions
New ‘pay as you drive’ battery rental scheme
23 984
13 627
Mar Jun Aug
ZOE CUMUL ORDERS 2017
ZOE CUMUL ORDERS 2016
ZOE is leader in Europe (+48% vs 2016)
ZOE market share: 24.1% (+1 pts vs 2016)
Renault Leader on EV :
SALES: STRENGTHENING ZOE LEADERSHIP ORDERS: BREAKTHROUGH ON ZOE
+76% vs
2016 YTD
12 3
21 238
14 914
#4 8 163
#5 7 41611 237
YTD JULY 2017
PROPERTY OF GROUPE RENAULT 13INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
2017 H1 RESULTS AND PERSPECTIVES
03
PROPERTY OF GROUPE RENAULT 14INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
KEY TAKE-AWAYS FROM H1 RESULTS
ROBUST GROWTH IN ALL REGIONS
STRONG CONTRIBUTION FROM SALES TO PARTNERS
COST SAVINGS BACK ON TRACK
NEGATIVE MIX NET PRICE ENRICHMENT
AVTOVAZ IN A RECOVERY MODE
PROPERTY OF GROUPE RENAULT 15INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
H1 2017 FINANCIAL RESULTS
In million euros H1 2016 H1 2017 CHANGE
REVENUES 25,185 29,537 +17.3%
OPERATING PROFIT 1,541 1,820 +279
% OF GROUP REVENUES +6.1% +6.2% +0.1 pts
OTHER OPERATING INCOME & EXPENSES -65 -31 +34
EBIT 1,476 1,789 +313
NET FINANCIAL INCOME & EXPENSES -67 -211 -144
ASSOCIATED COMPANIES 678 1,317 +639
CURRENT & DEFERRED TAXES -520 -479 +41
NET INCOME 1,567 2,416 +849
Nota Bene: AVTOVAZ accounted for by equity method in 2016 and fully consolidated in 2017
PROPERTY OF GROUPE RENAULT 16INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
In million euros H1 2016 H1 2017 CHANGE
GROUP OPERATING PROFIT
% GROUP REVENUES
1,541+6.1%
1,820+6.2%
+279+0.1pts
o/w AUTOMOTIVE
% AUTOMOTIVE REVENUES
1,121+4.7%
1,292+4.8%
+171+0.1pts
o/w AVTOVAZ* - 3 +3
o/w SALES FINANCING 420 525 +105
H1 2017 OPERATING PROFIT BY ACTIVITY
*AVTOVAZ net of eliminations
Nota Bene: AVTOVAZ accounted for by equity method in 2016 and fully consolidated in 2017
PROPERTY OF GROUPE RENAULT 17INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
1,8171,541
1,820
204
-44-132
-180 346
177-95 3
CurrencyVolume &
partnersMix / Net Enrichment
G&A
RCI Banque
& others
COST
REDUCTION
+€160m
H1 2016* H1 2017
incl. AVTOVAZ
Monozukuri Raw materials
GROWTH
+€523m
(million euros)
AVTOVAZ**
H1 2017
excl. AVTOVAZ
GROUP OPERATING PROFIT VARIANCE ANALYSIS
CHANGE H1 2017 vs H1 2016 : +€279m
* 2016 in previous perimeter excluding AVTOVAZ
** AVTOVAZ net of eliminations
PROPERTY OF GROUPE RENAULT 18INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
CHANGE H1 2017 vs H1 2016: +€160m
+382
-11
-83
-84
-44
G&AManufacturing &
Logistics
R&DWarrantyPurchasing
Monozukuri
(million euros)
COST REDUCTION ANALYSIS EXCLUDING AVTOVAZ
PROPERTY OF GROUPE RENAULT 19INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
RCI BANQUE
H1 2016 H1 2017
NEW FINANCINGS (€Bn) 8.9 10.4
AVERAGE PERFORMING ASSETS (€Bn) 31.9 38.6
NET BANKING INCOME 4.39% 4.44%
COST OF RISK (CUSTOMER & DEALER) -0.30% -0.29%
OPERATING EXPENSES -1.41% -1.37%
PRETAX INCOME 2.71% 2.83%
OPERATING PROFIT (€m) 420 525
( in percentage of average performing assets)
PROPERTY OF GROUPE RENAULT 20INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
FX VOLATILITY
RAW MATERIALS
MARKET CHANNEL MIX IN EUROPE
MONOZUKURI
RECOVERY IN RUSSIA AND BRAZIL
NEW PRODUCTS
H2 2017 RISKS & OPPORTUNITIES
PROPERTY OF GROUPE RENAULT 21INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
2017 TIV OUTLOOK
* PC+LCV INCLUDING USA & CANADA
EUROPE +2%
FRANCE +2%
BRAZIL
-6%
INDIA
+8%
CHINA
+5%
GLOBAL TIV *
+ 1.5% to + 2.5%
BRAZIL
+5%
RUSSIA at least +5%
PROPERTY OF GROUPE RENAULT 22INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
2017 OUTLOOK
INCLUDING AVTOVAZ, THE GROUP IS AIMING TO :
Increase group revenues, beyond the impact of AVTOVAZ
(at constant exchange rates)*
Increase group operating profit in euros*
Generate a positive Automotive operational free cash flow
* compared with 2016 Groupe Renault published results
PROPERTY OF GROUPE RENAULT 23INVESTOR RELATIONS – H1 RESULTS PRESENTATION SEPTEMBER 2017
QUESTIONS & ANSWERS
03