Upload
vuongdung
View
227
Download
1
Embed Size (px)
Citation preview
30 NOVEMBER 2011 RENAULT PROPERTY
RENAULT GROUP
SOCIETE GENERALE CONFERENCE
DOMINIQUE THORMANN,EVP, CFO & RCI Banque CEO NOVEMBER 30th , 2011
2RENAULT PROPERTY30 NOVEMBER 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
3RENAULT PROPERTY30 NOVEMBER 2011
01 RENAULT PERFORMANCE UPDATE
02 OUTLOOK
4RENAULT PROPERTY30 NOVEMBER 2011
TOTAL INDUSTRY VOLUMES & GROUP UNIT SALES 2011 vs. 2010 OCTOBER YTD
TIV + 40.2 %GROUP + 65.6 %
TIV - 0.2 %GROUP - 6.1 %
TIV + 17.7 %GROUP + 15.1 %
TIV + 1.9 %GROUP + 0.9 %
TIV + 12.1 %GROUP + 27.5 %
TIV + 5.0 % GROUP + 3.5 %
*
*PC+LCV including USA & Canada
5RENAULT PROPERTY30 NOVEMBER 2011
2 163
1 374
251 219 23583
2 238
1 291
320 252 238138
2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011GLOBAL*
+ 3.5 %EUROPE - 6.1 %
AMERICAS+ 27.5 %
EURASIA + +65.6 %
INTERNATIONAL + 20.1 %
THOUSAND UNITS(PC + LCV)
RENAULT GROUP UNIT SALES 2011 vs. 2010 OCTOBER YTD
INTERNATIONAL SALES MIX AT 42% (+ 6.4 PTS VS. 2010)
ASIA / AFRICA+ 0.9 %
EUROMED+ 15.1 %
* PC+LCV including USA & Canada
6RENAULT PROPERTY30 NOVEMBER 2011
RENAULT GROUP REVENUES BY DIVISION YTD 2011
In million euros YTD 2011 Change(%)
YTD 2010
Automotive
Sales Financing
TOTAL
27,046
1,333
28,379
29,402
1,444
30,846
+ 8.7 %
+ 8.3 %
+ 8.7 %
7RENAULT PROPERTY30 NOVEMBER 2011
AUTOMOTIVE REVENUE VARIANCE ANALYSIS YTD
29,402
27,046
- 271
+ 1,149
- 242
+ 959
- 51
+ 417 + 395
Currency
Volume
Geographicalmix
CHANGE 2010 / 2011 : + €2,356
YTD 2010
Price
Sales to partners
Others
YTD 2011
+ 8.7 %
- 1.0 % + 4.2 % - 0.9 % + 3.5 % - 0.2 % + 1.5 % + 1.5 %
Product / Version mix
In million euros
8RENAULT PROPERTY30 NOVEMBER 2011
RCI BANQUE PERFORMANCE YTD
YTD 2011 Change(%)
YTD 2010
Revenues (in € m)
Average loans outstanding (in € bn)
New contracts (in thousand units)
New financing(in € bn)
1,333
20.8
710
7,4.
1,444
22.5
756
8,2
+ 8.3 %
+ 8.2 %
+ 6.4 %
+ 10.2 %
9RENAULT PROPERTY30 NOVEMBER 2011
RCI - IMPROVEMENT OF THE COST OF RISK
CUSTOMER & DEALER COST OF RISK
IN % OF AVERAGE OUTSTANDING LOANS
PROVISIONING & CUSTOMER DEFAULTED LOANS
0,54%
0,72%
0,61%0,68%
0,87%0,99%
0,40%
0,14%
2004 2005 2006 2007 2008 2009 2010 H1 2011
66%
70%72%
69%
72%
78%
82% 83%
3,21% 3,29% 3,31% 3,39%4,39% 5,11%
4,15% 3,80%
2004 2005 2006 2007 2008 2009 2010 H1 2011
Loan loss reserve/ non performing loans Non performing loans/ total outstanding
10RENAULT PROPERTY30 NOVEMBER 2011
� A strong capitalization level (core tier one)
� Liquidity management
� No static risk : Assets funded by liabilities with a longer maturity
� Dynamic liquidity management through stress test
10,5%10,6%10,4%9,5%
8,1%8,1%8,1%8,0%
2004 2005 2006 2007 2008 2009 2010 H1 2011
RCI – A STRONG BALANCE SHEET AND LIQUIDITY
Basel 1 Basel 2
11RENAULT PROPERTY30 NOVEMBER 2011
01 RENAULT PERFORMANCE UPDATE
02 OUTLOOK
12RENAULT PROPERTY30 NOVEMBER 2011
GROWING TIV, RECOVERING QUICKLY AFTER 2008/2009
52 5254
56 56 56 5761
6365
6865
63
71
83
93
51
40
50
60
70
80
90
100
110
120
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Global TIV (PC+LCV) IN MILLION UNITS
100
8590 98
100109
131 148
2007 2010 2013 2016
Outside Europe
Europe
13RENAULT PROPERTY30 NOVEMBER 2011
ZOOM ON SALES OUTSIDE EUROPE:
5 OF RENAULT’S TOP 10 MARKETS ARE OUTSIDE EUROPE
FRANCE
SOUTH KOREA
RUSSIA
UNITED KINGDOM
TURKEY
YTD 2010 RANKING
01
02
03
04
05
06
07
08
09
10
YTD 2011 RANKING
BRAZIL
GERMANY
ITALY
SPAIN
FRANCE
SOUTH KOREA
ARGENTINA
RUSSIA
TURKEY
01
02
03
04
05
06
07
08
09
10
BRAZIL
GERMANY
ITALY
SPAIN
BELGIUM / LUXEMBOURG
ARGENTINA11
BELGIUM / LUXEMBOURG
14RENAULT PROPERTY30 NOVEMBER 2011
GROUP UNIT SALES BREAKDOWN
26% 25%
39%32%
35%43%
2007 2011 e
EUROPE
excl. France
FRANCE
INTERNATIONAL
15RENAULT PROPERTY30 NOVEMBER 2011
NEW MODEL REGIONAL INDUSTRIALIZATION FACELIFT
2011
ASIA/AFRICA
EUROMED
AMERICAS
EURASIA
QM5SM7 FLUENCEIndia
KOLEOSIndia
DUSTERRussia
DUSTERColumbia
SANDEROBrazil
SUSTAINED GROWTH THROUGH PRODUCT LAUNCHES
B HATCHIndia
DUSTERBrazil / Arg
HATCH
D-SEGMENT MODEL YEARFAMILY CAR SMALL LCV PC VAN
B SedanIndia
DUSTERIndia
FLUENCE ZETurkey
Q1-Q3 Q4 Q1-Q2
2012
MEGANERussia
FLUENCERussia
16RENAULT PROPERTY30 NOVEMBER 2011
VOLUME GROWTH : 90% FROM OUTSIDE EUROPE
1 643
317
273
288
107
2000 2005 2010 2013
Eurasia
Asia Africa
Euromed
Americas
Europe
17% 37%27% 45%
2.4m2.5m
2.6m
3m
GROUP UNIT SALES : Renault, Dacia & Renault Samsung brands
17RENAULT PROPERTY30 NOVEMBER 2011
510480
365
323 315 313 324356
376360 366
401
455 446
310
268
176 162 165191 184
219240 233
200 212
147 153 148165 176 182
215 213179
143 169
198186
181208
168
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
DISTRIBUTION STOCK
NEW VEHICLE PHYSICAL DISTRIBUTION STOCK IN K UNITS
Number of days of sales
(previous period)
69 80 67 60 45 52 47 50 51 4956 53 59
GROUPINDEPENDENTDEALERS
TOTAL
65
18RENAULT PROPERTY30 NOVEMBER 2011
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 2
011
2011
2012
2013
TARGET: CAP 9%
Net capital expenditure and net R&D in % of group revenues
19RENAULT PROPERTY30 NOVEMBER 2011
4.04.04.14.14.23.74.24.5
7.18.8
6.35.43.4
1.1
3.63.7
9.510.4
8.2
4.8
7.67.8
12.811.1
Dec 0
7
June 0
8
Dec 0
8
June 0
9
Dec 0
9
June 1
0
Dec 1
0
June 1
1
AVAILABLE CREDIT LINES CASH
AUTOMOTIVE LIQUIDITY RESERVE
€ billion
20RENAULT PROPERTY30 NOVEMBER 2011
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
2130 NOVEMBER 2011
OUTLOOK 2011
FULL YEAR 2011 TOTAL INDUSTRY VOLUMES (PC+LCV vs. FY 2010)
� GLOBAL + 3 %
� EUROPE stable
� FRANCE - 3 %
2011 FULL YEAR OUTLOOK CONFIRMED
� UNIT SALES AND REVENUES > 2010
� AUTOMOTIVE OPERATIONAL FREE CASH FLOW > €500m
� CAPEX + R&D < 9 % OF GROUP REVENUES
22RENAULT PROPERTY30 NOVEMBER 2011
Q&A