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H117 Renault Presentation

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H117 Renault Presentation 2017 FINANCIAL RESULTS CONFERENCE INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 1 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. INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 2 AGENDA FY 2017 FINANCIAL RESULTS CLOTILDE DELBOS 01 EVP, Group Chief Financial Officer 2017 KEY ACHIEVEMENTS / 2018 OUTLOOK 02 CARLOS GHOSN Chairman & Chief Executive Officer 03 QUESTIONS & ANSWERS INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 3 01 FY 2017 FINANCIAL RESULTS CLOTILDE DELBOS EVP, Group Chief Financial Officer INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 4 GROUPE RENAULT’S UNIT REGISTRATIONS 2017 VS 2016 (incl. Lada) WORLD MARKET SHARE: 4.03% (+0.2pts) K units (PC+LCV) 3,762 3,468 1,810 1,911 INTERNATIONAL: +11.6% 645 733 491 532 354 389 167 196 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 GLOBAL EUROPE AMI EURASIA AMERICAS ASPA GROUP 8.5% 5.6% 8.4% 13.6% 9.9% 17.0% TIV 2.3% 3.3% 2.0% 7.0% 7.2% 2.7% INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 5 FY 2017 GROUP REVENUES In million euros 2016 2017 CHANGE GLOBAL UNIT SALES* (units) 3,468,174 3,761,634 +8.5% GROUP REVENUES 51,243 58,770 +14.7% o/w AUTOMOTIVE excl. AVTOVAZ 48,995 53,530 +9.3% o/w AVTOVAZ** - 2,727 N/A o/w SALES FINANCING 2,248 2,513 +11.8% H1 H2 +12.1% +6.5% * 2016 including Lada sales ** AVTOVAZ net of eliminations Nota Bene: AVTOVAZ accounted for by equity method in 2016 and fully consolidated in 2017 INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 6 AUTOMOTIVE EXCLUDING AVTOVAZ REVENUES VARIANCE ANALYSIS CHANGE 2017 vs 2016: +€4,535m Others Sales to partners Currency +973 -346 +1,298 Price Product +738 Geographic mix Volume mix +355 -68 53,530 +1,585 +3.3 pts -0.1 pts +0.7 pts +1.5 pts +2.6 pts -0.7 pts +2.0 pts 48,995 +9.3% (million euros) 2016 2017 INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 7 FY 2017 OPERATING PROFIT BY ACTIVITY In million euros 2016 2017 CHANGE GROUP OPERATING PROFIT 3,282 3,854 +572 % of Group revenues 6.4% 6.6% +0.2pts o/w AUTOMOTIVE excl. AVTOVAZ 2,386 2,749 +363 % of segment revenues 4.9% 5.1% +0.2pts o/w AVTOVAZ* - 55 +55 o/w SALES FINANCING 896 1,050 +154 H1 H2 4.8% 5.5% * AVTOVAZ net of eliminations Nota Bene: AVTOVAZ accounted for by equity method in 2016 and fully consolidated in 2017 INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 8 GROUP OPERATING PROFIT VARIANCE ANALYSIS CHANGE 2017 vs 2016: +€572m RCI Banque & others Currency Monozukuri G&A Raw +413 -303 -125 materials AVTOVAZ** Volume & partners +55 +663 -394 Mix / Net Enrichment +493 -230 3,799 3,854 COST GROWTH 3,282 REDUCTION +€906m +€538m (million euros) 2016* 2017 2017 * 2016 excluding AVTOVAZ excl. AVTOVAZ incl. AVTOVAZ ** AVTOVAZ net of eliminations INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 9 COST REDUCTION ANALYSIS EXCLUDING AVTOVAZ CHANGE 2017 vs 2016: +€538m Monozukuri +75 -100 -43 -125 +731 (million euros) Purchasing Warranty R&D Manufacturing & G&A Logistics INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 10 GROUP OPERATING PROFIT VARIANCE ANALYSIS CHANGE 2017 vs 2016: +€572m RCI Banque & others Currency Monozukuri G&A Raw +413 -303 -125 materials AVTOVAZ** Volume & partners +55 +663 -394 Mix / Net Enrichment +493 -230 3,799 3,854 COST GROWTH 3,282 REDUCTION +€906m +€538m (million euros) 2016* 2017 2017 * 2016 excluding AVTOVAZ excl. AVTOVAZ incl. AVTOVAZ ** AVTOVAZ net of eliminations INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 11 OTHER OPERATING INCOME & EXPENSES In million euros 2016* 2017 NET RESTRUCTURING COSTS -283 -56 IMPAIRMENT OF ASSETS -38 -52 CAPITAL GAIN/LOSS ON DISPOSAL OF FIXED ASSETS -4 +96 IMPACT OF AVTOVAZ FIRST FULL CONSOLIDATION +325 - OTHERS +1 -36 TOTAL OTHER OPERATING INCOME & EXPENSES +1 -48 * 2016 excluding AVTOVAZ INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 12 FY 2017 FINANCIAL RESULTS In million euros 2016 2017 CHANGE REVENUES 51,243 58,770 +14.7% OPERATING PROFIT 3,282 3,854 +572 % of Group revenues 6.4% 6.6% +0.2 pts OTHER OPERATING INCOME & EXPENSES +1 -48 -49 EBIT 3,283 3,806 +523 NET FINANCIAL INCOME & EXPENSES -323 -504 -181 ASSOCIATED COMPANIES 1,638 2,799 +1,161 CURRENT & DEFERRED TAXES -1,055 -891 +164 NET INCOME 3,543 5,210* +1,667 * Excluding the impact of the US tax reform and Calsonic Kansei divestiture on Nissan contribution (-€1,021m): Net income = €4,189m Nota Bene: AVTOVAZ accounted for by equity method in 2016 and fully consolidated in 2017 INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 13 ASSOCIATED COMPANIES In million euros 2016 2017 CHANGE NISSAN 1,741 2,791* +1,050 AVTOVAZ -89 - +89 OTHERS -14 8 +22 TOTAL ASSOCIATED COMPANIES 1,638 2,799 +1,161 H1 H2 1,288 1,503 * €1,770m excluding the impact of the US tax reform and Calsonic Kansei divestiture on Nissan contribution (-€1,021m) Nota Bene: AVTOVAZ accounted for by equity method in 2016 and fully consolidated in 2017 INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 14 FY 2017 FINANCIAL RESULTS In million euros 2016 2017 CHANGE REVENUES 51,243 58,770 +14.7% OPERATING PROFIT 3,282 3,854 +572 % of Group revenues 6.4% 6.6% +0.2 pts OTHER OPERATING INCOME & EXPENSES +1 -48 -49 EBIT 3,283 3,806 +523 NET FINANCIAL INCOME & EXPENSES -323 -504 -181 ASSOCIATED COMPANIES 1,638 2,799 +1,161 CURRENT & DEFERRED TAXES -1,055 -891 +164 NET INCOME 3,543 5,210* +1,667 * Excluding the impact of the US tax reform and Calsonic Kansei divestiture on Nissan contribution (-€1,021m): Net income = €4,189m Nota Bene: AVTOVAZ accounted for by equity method in 2016 and fully consolidated in 2017 INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 15 AUTOMOTIVE NET FINANCIAL POSITION Excl. AVTOVAZ Net tangible & intangible investments Change DEC 31, 2016*: €2,416m in WCR -3,891 Cash flow 447 DEC 31, 2017*: €2,928m Net capex -2,169 Dividends Capitalized received 4,327 R&D from Dividends listed co. paid -1,193 Operational free AVTOVAZ 761 Financial Leased -529 -996 Share Vehicles FCF cash flow investments & others buy-back Others from Net 62 for employees AVTOVAZ change 945 -163 -121 86 512 (million euros) * The figures at December 31, 2016 include adjustments relating to the allocation of the purchase price paid for the AVTOVAZ Group. INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 16 NEW VEHICLE DISTRIBUTION STOCK EXCLUDING AVTOVAZ (K units) 670 TOTAL 618 593 591 609 613 571 564 481 INDEPENDENT 399 410 423 DEALERS 371 340 343 333 298 324 327 295 267 277 GROUP 200 208 190 141 165 DEC'15 MAR'16 JUN'16 SEP'16 DEC'16 MAR'17 JUN'17 SEP'17 DEC'17 55 78 60 76 59 78 63 71 57 Number of days of sales (backward) INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 17 RCI BANQUE 2016 2017 NEW FINANCINGS (€bn) 17.9 20.6 AVERAGE PERFORMING ASSETS (€bn) 33.3 39.6 NET BANKING INCOME 4.41% 4.11% COST OF RISK (CUSTOMER & DEALER) -0.31% -0.11% OPERATING EXPENSES -1.39% -1.32% PRETAX INCOME 2.74% 2.72% OPERATING PROFIT (€m) 896 1,050 All percentages are calculated on average performing assets INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 18 02 2017 KEY ACHIEVEMENTS 2018 OUTLOOK CARLOS GHOSN Chairman & Chief Executive Officer INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 19 DRIVE THE CHANGE MAIN OBJECTIVES ACHIEVED A YEAR AHEAD REVENUES €50bn* GROUP OPERATING MARGIN 5% * Without AVTOVAZ consolidation. Based on bank consensus FX rate at the beginning of 2014. INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 20 2017 OBJECTIVES OVERACHIEVED & RECORD RESULTS RECORD SALES RECORD REVENUES RECORD OPERATING PROFIT in million units in billion euros in million euros 3.76 58.8 3,854 3.47 51.2 3,282 2016* 2017 2016 2017 2016 2017 GLOBAL SALES GROUP TURNOVER GROUP OPERATING PROFIT +8.5% +14.7% +17.4% * 2016 including Lada sales INVESTOR RELATIONS – FY 2017 PRESENTATION FEBRUARY 16TH 2018 PROPERTY OF GROUPE RENAULT 21 2017 HIGHLIGHT: NEW STRATEGIC PLAN 2017 - 2022 OBJECTIVES €70bn 7% €4.2bn REVENUES COP SAVINGS INVESTOR RELATIONS – FY 2017 PRESENTATION
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