GROUPE RENAULT
2016 FINANCIAL RESULTS CONFERENCE
2
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
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.
DISCLAIMER
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
AGENDA
01FY 2016 FINANCIAL RESULTSCLOTILDE DELBOSEVP, Group Chief Financial Officer
022016 REVIEW AND 2017 OUTLOOKCARLOS GHOSNChairman & Chief Executive Officer
03 QUESTIONS & ANSWERS
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
FY 2016 FINANCIAL RESULTSCLOTILDE DELBOSEVP, Group Chief Financial Officer
01
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2,809
1,614
356 360 354124
3,183
1,805
364491
354167
GROUPE RENAULT UNIT REGISTRATIONS 2016 VS 2015
GLOBAL
+13.3%
EUROPE
+11.8%
AMERICAS
+0.1%
ASIA-PACIFIC
+34.5%
AFRICA-ME-INDIA
+36.4%
EURASIA
+2.3%
K units
(PC+LCV)
+4.6% TIV +7.0% -6.3% -1.7% -4.1% +9.3%
GROUP
INTERNATIONAL +15.3%
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2016 2015 CHANGE
Global unit sales (units) * 3,182,625 2,808,926 +13.3%
Group revenues 51,243 45,327 +13.1%
of which: Automotive 48,995 43,108 +13.7%
Sales financing 2,248 2,219 +1.3%
FY 2016 GROUP REVENUES
(million euros)
*2015 restated: since January 1, 2016, volumes for China are reported based
on retail sales versus wholesales previously.
H1 H2
+13.5% +12.7%
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
AUTOMOTIVE REVENUES VARIANCE ANALYSIS
Currency
Volume
Geographic
mix
Sales to
partnersOthers
+13.7%
+8.9 pts +0.2 pts +0.7 pts +3.9 pts -3.9 pts +1.4 pts
Price
+2.5 pts
CHANGE 2016 vs 2015: +€5,887m
FY 2015 FY 2016
(million euros)
Product
mix
43,108
48,995
+3,816
+1,099
+1,691
+312+68
+587-1,686
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
OPERATING PROFIT BY ACTIVITY
2016 2015* CHANGE
AUTOMOTIVE 2,386 1,546 +840
% Automotive revenues 4.9% 3.6% +1.3 pts
SALES FINANCING 896 829 +67
GROUP OPERATING PROFIT 3,282 2,375 +907
% Group revenues 6.4% 5.2% +1.2 pts
(million euros)
* restated IAS 12
H1 H2
4.7% 5.1%
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2,375
3,282
+184-112
+331+115
+1,036
+55-702
GROUP OPERATING PROFIT VARIANCE ANALYSIS
CurrencyVolume &
partners
Mix / Net Enrichment
G&A
RCI Banque
& other
activities
COST
REDUCTION
+€72m
FY 2015* FY 2016
CHANGE 2016 vs 2015: +€907m
Monozukuri
Raw materials
GROWTH
+€1,091m
(million euros)* Restated IAS12
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
+656
-101
-260
-111
-112
COST REDUCTION ANALYSIS
CHANGE 2016 vs 2015: +€72m
G&AManufacturing &
Logistics
R&DWarrantyPurchasing
Monozukuri
(million euros)
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2,375
3,282
+184-112
+331+115
+1,036
+55-702
GROUP OPERATING PROFIT VARIANCE ANALYSIS
CurrencyVolume &
partners
Mix / Net Enrichment
G&A
RCI Banque
& other
activities
COST
REDUCTION
+€72m
FY 2015* FY 2016
CHANGE 2016 vs 2015: +€907m
Monozukuri
Raw materials
GROWTH
+€1,091m
(million euros)* Restated IAS12
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
OTHER OPERATING INCOME & EXPENSES
2016 2015
Restructuring costs -283 -157
Impairment of assets -38 -53
Profit / loss on asset sales -4 +10
AVTOVAZ first full consolidation impact +325 -
Others +1 +1
Total other operating income & expenses +1 -199
(million euros)
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
FY 2016 FINANCIAL RESULTS
2016 2015 CHANGE
Revenues 51,243 45,327 +13.1%
Operating profit * 3,282 2,375 +907
in % of revenues 6.4% 5.2% +1.2pts
Other operating income & expenses 1 -199 +200
EBIT 3,283 2,176 +1,107
Net financial income & expenses -323 -221 -102
Associated companies ** 1,638 1,371 +267
Current & deferred taxes * -1,055 -366 -689
Net income **
in % of revenues
3,543
6.9%
2,960
6.5%
+583
+0.4pts
(million euros)
* 2015 restated IAS 12
** 2015 restated for AVTOVAZ 3 month difference
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
ASSOCIATED COMPANIES
2016 2015 CHANGE
NISSAN 1,741 1,976 -235
AVTOVAZ * -89 -620 +531
Others -14 15 -29
Total associated companies 1,638 1,371 +267
(million euros)
* 2015 restated
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
FY 2016 FINANCIAL RESULTS
2016 2015 CHANGE
Revenues 51,243 45,327 +13.1%
Operating profit * 3,282 2,375 +907
in % of revenues 6.4% 5.2% +1.2pts
Other operating income & expenses 1 -199 +200
EBIT 3,283 2,176 +1,107
Net financial income & expenses -323 -221 -102
Associated companies ** 1,638 1,371 +267
Current & deferred taxes * -1,055 -366 -689
Net income **
in % of revenues
3,543
6.9%
2,960
6.5%
+583
+0.4pts
(million euros)
* 2015 restated IAS 12
** 2015 restated for AVTOVAZ 3 month difference
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
4,362
1,107
-940
1,264
+356
+772 -794+1,119
AUTOMOTIVE NET FINANCIAL POSITION
Operational free
cash flow
Cash flow
Changein WCR
Dividendspaid
Net tangible& intangible
investments
-3,611
Net Change
AutoExcl.VAZ
Dividends received
fromlisted co.
Capitalized
R&D
-903
Financial investments
& others
Net capex
-2,144
(million euros)
LeasedVehicles -564
Share Buy-back
Nissan
AUTO
EXCL.VAZ
AUTO
INCL.VAZ
DEC 31, 2015 2,661 N/A
DEC 31, 2016 3,925 2,720
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
NEW VEHICLE DISTRIBUTION STOCK* EXCLUDING AVTOVAZ
468
526 527 520
481
593571
591564
106
264
178
260
141
298
200
267
165
362
262
349
260
340
295
371
324
399
DEC'14 MAR'15 JUN'15 SEP'15 DEC'15 MAR'16 JUN'16 SEP'16 DEC'16
GROUP
INDEPENDENTDEALERS
TOTAL
Number of days of sales
(previous period)556658 7775 78
(IN K UNITS)
60
* 2014 & 2015 restated
76 59
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
LIQUIDITY RESERVES
Cash €11.6bn
Available credit lines €3.3bn
TOTAL €14.9bn
LIQUIDITY RESERVES
Cash €11.8bn
Available credit lines €3.3bn
TOTAL €15.1bn
AUTOMOTIVE DIVISION LIQUIDITY EXCLUDING AVTOVAZ
DECEMBER 2015 DECEMBER 2016
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
RCI BANQUE
2016 2015
New financings (€bn) 17.9 15.6
Average performing assets (€bn) 33.3 28.6
Net banking income 4.41% 4.75%
Cost of risk (customer & dealer) -0.31% -0.33%
Operating expenses* -1.39% -1.47%
Pretax income* 2.74% 2.97%
Operating profit (€m)* 896 829
(in percentage of average performing assets)
* 2015 restated IAS12
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
End 2016 End 2015
DEPOSITS 12.6 10.2
o/w GERMANY 8.1 7.0
o/w UNITED KINGDOM 2.6 1.3
o/w FRANCE 1.2 1.3
o/w AUSTRIA 0.7 0.6
RCI BANQUE RETAIL DEPOSIT ACTIVITY
(billion euros)
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2016 REVIEW & 2017 OUTLOOKCARLOS GHOSNChairman - Chief Executive Officer
02
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2016 FINANCIAL RESULTS – GROUPE RENAULT
2016 RESULTS WRAP-UP01
DRIVE THE CHANGE UPDATE02
2017 OUTLOOK03
FUTURE TRENDS04
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2016 OBJECTIVES MET & RECORD RESULTS
* at constant exchange rates
REVENUES 2016 > 2015*
GROUP & AUTOMOTIVE OP. MARGIN 2016 > 2015
AUTOMOTIVE OPERATIONAL FREE CASH FLOW > 0
24
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2016 ACHIEVEMENTS – PRODUCT LAUNCHES
9. KAPTUR
10. ALASKAN
1. MEGANE
2. TALISMAN SW
3. MEGANE ESTATE
4. SCENIC
5. MEGANE SEDAN
6. GRAND SCENIC
OTHER INTERNATIONAL LAUNCHES
COMPLETE RENEWAL
WITH C & D SEGMENT
7. KADJAR
8. KOLEOS
PRODUCT OFFENSIVE IN CHINA
WITH LOCAL PRODUCTION
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2016 ACHIEVEMENTS – CONSOLIDATION OF AVTOVAZ
SUCCESSFUL
RECAPITALIZATION
NEW
RECOVERY PLAN
OPERATIONAL PROFITABILITY
EXPECTED BY 2018
26
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
DRIVE THE CHANGE 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
27
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2010 – 2016 MORE DIVERSIFIED PRODUCT MIX
PRODUCTS RENEWAL
Complete renewal of C&D segment
Reinforced leadership in B segment
NEW PRODUCTS
Pioneer & leader in E.V
Full cross-over line-up for all our markets
Enlarged LCV range and Pick-ups
Twizy Zoe Kangoo ZE
Dokker Oroch Alaskan
Kwid Captur Kadjar Koleos (+QM6)
Megane 4 Scenic 4 Talisman (+SM6) Espace 5
Clio 4 Captur
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2010 – 2016 BETTER BALANCED REGIONAL MIX
BRAZIL
AMERICAS
S. KOREA
ASIA PACIFIC
TURKEY
EURASIA
SPAIN
ITALY
UK
GERMANY
FRANCE
EUROPE
2010 : 8 countries > 100,000 units sold
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2010 – 2016 BETTER BALANCED REGIONAL MIX
INDIA
IRAN
AMI
BRAZIL
AMERICAS
S. KOREA
ASIA PACIFIC
TURKEY
EURASIA
RUSSIASPAIN
ITALY
UK
GERMANY
FRANCE
EUROPE
2010 : 8 countries > 100,000 units sold
2016 : 11 countries > 100,000 units sold
30
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2010 – 2016 SALES TO PARTNERS
40% contributionto growth of revenues
2010 - 2016
31
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2010 – 2016 SCALE EFFECTS
KADJAR
QASHQAI
KOLEOS
XTRAIL
CMF C-D SUV PLATFORM MODULAR APPROACH
60%<10%
2010 > 2016
2/3 of value of upcoming vehicles
from standardized modules
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2010 – 2016 COMPETITIVENESS AGREEMENT
€500m investment
3600 recruitments
€220m in training
2017 – 2019 AGREEMENT
33
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2010 – 2016 COST REDUCTIONS
1,0992.8%
3,2826.4%
Volume
EnrichmentNet
FOREX
2011 2016
Raw material
(million euros)
Cost
reductions
> €3billion
2010 – 2016 CUMULATED
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2010 – 2016 PRODUCT ENRICHMENT
RANGE BEFORE 2010 RANGE 2010 - 2016
EXTENDED AUTONOMY
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
RISKS
Raw materials
Brexit impact
Trade agreements
2017 OPPORTUNITIES AND RISKS
OPPORTUNITIES
Full year impact of new products
Alliance synergies
Emerging markets recovery (Brazil, Russia)
& ramp-up (China, India)
36
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
2017 TIV OUTLOOK
* PC+LCV INCLUDING USA & CANADA
EUROPE +2%
FRANCE +2%
BRAZIL
-6%
INDIA
+8%
CHINA
+5%
GLOBAL TIV *
+ 1.5% to + 2%
BRAZILstable
RUSSIA stable
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
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
38
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
BEYOND 2017 PREPARING FOR THE FUTURE
ELECTRIC
CONNECTED
AUTONOMOUS
39
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
OUTLOOK 2017 AND BEYOND
DRIVE NEXT
2010 - 2016
THE
CHANGE 2017 MID-TERMPLAN
40
INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT
QUESTIONS & ANSWERS
03
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INVESTOR RELATIONS
RENAULT FY 2016 PRESENTATION FEBRUARY 10TH 2017 PROPERTY OF GROUPE RENAULT