Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009...

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APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL Q1 2009 Revenues Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of Europe region

Transcript of Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009...

Page 1: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL

Q1 2009 Revenues

Thierry MoulonguetEVP & CFO

Jérôme StollEVP & Leader of Europe region

Page 2: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 2

Agenda

! First quarter 2009 global sales volume

! First quarter 2009 group revenues

! Update on 2009 action plan

Page 3: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 3

TIV SEEMS TO APPROACH A THRESHOLD IN EUROPE(THANKS TO SCRAPPING INCENTIVES…)

TIV PC+LCV, evolution vs. y-1

-60%

-50%

-40%

-30%

-20%

-10%

0%

10%

20%

Europe France Germany Italy UK Spain

H1 08 Q3 08 Q4 08 Q1 09

Incentives in place with a positive impact on Q1 registrationsIncentives in place with a positive impact to come on Q2 registrations

Page 4: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 4

CRISIS & INCENTIVES IN EUROPE IMPACT ON TIV SEGMENT MIX

Europe TIV - 2009 vs 2008

-815,000-19%

-183,000-35%

-243,000-24%

-318,000-25%

-152,000-13%

+79,000+23%

A B C D+ LCV PC+LCV

Page 5: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 5

VARIOUS SITUATIONS ON INTERNATIONAL MARKETS

Incentives in place with a positive impact on Q1 registrationsIncentives in place with a positive impact to come on Q2 registrations

TIV PC+LCV, evolution vs. y-1

-80%

-60%

-40%

-20%

0%

20%

40%

Romania Russia TurkeySouthKorea India Brazil Argentina

H1 08 Q3 08 Q4 08 Q1 09

Page 6: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 6

REGION ORGANIZATION

Page 7: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7

418326

2008 2009

496

639

2008 2009

Q1 SALES AT -22.4% VS. 2008 - ALL REGIONS IMPACTED

Thousand units (PC+LCV)

GlobalGlobal--22.4%22.4%

EuropeEurope--22.0%22.0%

(incl. France(incl. France--11.3%)11.3%)

International-23.1%

59 47

2008 2009

2817

2008 2009

5567

2008 2009

6651

2008 2009

EuroMedEuroMed--23.8%23.8%

AsiaAsia//AfricaAfrica--20.2%20.2%

EurasiaEurasia--40.3%40.3%

AmericasAmericas--17.8%17.8%

Page 8: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 8

REDUCTION OF INVENTORIES42k UNIT REDUCTION IN Q1 2009

" Impact of massive production cut in Q4/08 in terms of inventory quantity and quality (strong reduction of ageing inventories)

" Total distribution stock of new cars down 34% vs. Q1 2008

* Operational indicator = distribution stock

*

Page 9: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 9

EUROPEAN REGISTRATIONS BY SEGMENTQ1 2009 vs. Q1 2008

29%+8,00026%

+7,000

-26%-99,000-35%

-28,000-37%-14,000

-22%-21,000-30%

-35,000

12%+4,000

A B C D+ LCV PC+LCV

DACIARENAULT+N/A%

+1,000

Page 10: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 10

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2007 2008 2009

EUROPE ORDER BANK STRONGLY INCREASED IN Q1THANKS TO GOOD LEVEL OF ORDERS

Europe Orderbank PC+LCV(At the start of each month)

Page 11: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 11

UPDATE ON DACIA & TWINGO

! Twingo and Dacia benefited from incentives.

! Orders exceed industrial output.

! Industrial decisions made to meet customer needs:! Novo Mesto (Twingo) :+0.5 shift &

Clio2 production transferred partially to Flins.

! Pitesti (Dacia) : increase of production/hour & work on Saturdays

TWINGO PC in Europe2009 vs 2008

67%+26,00012%

+4,000

Regs Orders

DACIA PC in Europe2009 vs 2008 211%

+51,000

26%+7,000

Regs Orders

Page 12: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 12

Mégane Family in Europe2009 vs 2008

62%+15,000

-64%-2,000

-59%-9,000

-49%-25,000

-22%-21,000

Hatch/Coupé Coupé-Cab Estate Scénic Mégane Family

GOOD START FOR NEW MEGANE

! Good start from Mégane hatch/coupé (from 12th to 4th place in Europe).

! Other Mégane bodies to be launched soon.

Page 13: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 13

MARKET SHARE BY CHANNEL IN EUROPE (G5)12M rolling average since 2005

+1.0pt

Page 14: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 14

Agenda

! First quarter 2009 global sales volume

! First quarter 2009 group revenues

! Update on 2009 action plan

Page 15: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 15

Renault groupRevenues by division Q1 YTD

* 2008 data has been restated on a consistent basis

In million euros YTD 2009 Change(%)

YTD 2008Pro forma*

Automobile

Sales Financing

TOTAL

9,727

506

10,233

6,634

446

7,080

- 31.8%

- 11.9%

- 30.8%

Page 16: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 16

Q1 change in consolidation

In million euros

Automobile

Sales Financing

TOTAL

Change in Perimeter /

Consolidation(1)

31/03/2008Pro forma

31/03/2008Published

9,697

506

10,203

30

-

30

9,727

506

10,233

Page 17: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 17

- 6.1Europe

+0.6

Contribution to the change in revenues

Others

- 6.1

- 2.4- 0.9

-7.5

- 1.7

AUTOMOBILE DIVISION REVENUES DOWN 31.8% IN Q1’09

Euromed + Eurasia+ Americas+ Asia-Africa

- 17.1 -8.6

-13.8

ExchangerateVolume

Mix/price

ExchangerateVolume

Mix/price

Page 18: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 18

Agenda

! First quarter 2009 global sales volume

! First quarter 2009 group revenues

! Update on 2009 action plan

Page 19: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 19

NET AUTOMOBILE FINANCIAL DEBT & FUNDING YTD (Renault + RCI) !Net automobile financial indebtedness :

• The automobile division is focused on its priority : optimizing FCF• At end Q1’09, net automotive financial debt increased by less than 10% vs. end

Dec 2008 (€7.9 bn), including the change in law for supplier payables in France• For information : Yen liabilities decreased from Y503 bn at end Dec’08 to Y282

bn at end Mar’09

!Update on funding plan :• Auto refinancing :

• €0.4 bn from the EIB for CO2 investment support.• €3 bn loan from the French Government

• RCI medium and long term funding : • €0.8 bn SFEF : 2/3 of the available envelop.• In line for its’ 2009 securitization plan

Page 20: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 20

2009 ACTION PLANADAPT OUR PRODUCTION LEVEL

260

80

100

120

140

160

180

200

220

240

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

Thousand units 2008

60

Production forecast – Feb’09Renault global industrial output

Actual production level20092009

Page 21: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 21

UPDATE ON RENAULT VOLUNTARY DEPARTURE PLAN & CRISIS-PERIOD LABOR DEAL

! Crisis-period labor deal :! System based on solidarity and fairness! In a context of strong decrease in the automobile markets :

! Necessity to reduce costs! Adjust our organization to a lower level of activity

! Voluntary departure plan :

1 100 1 350

9001 000

4 0004 100

Initial expectations Departures committed

Renault SAS

France others

Europe

6 000> 6 400

Page 22: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 22

Megane Renault Sport

Trafic ph3

2009 ACTION PLANPRODUCT LAUNCHES

2009

1st HALF

New Master SM3

2nd HALF

SM5

Vehicles outside Renault Commitment 2009 product planning

Scenic& Grand Scenic

Megane station wagon

Clio 3 phase 2

Kangoo Be Bop

MeganeCoupé

Page 23: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 23

Focus Grand Scénic

Page 24: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 24

Focus Mégane Estate

Page 25: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 25

Focus Clio 3 ph 2

Page 26: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th, 2009 Q1 2009 REVENUES - CONFERENCE CALL 26

Forthcoming events

! 06/05 AGM! 12/05 Impact of Nissan’s Q4 FY08 results! End May Alliance synergies! 30/07 H1 2009 Financial results

Page 27: Thierry Moulonguet EVP & CFO Jérôme Stoll EVP & Leader of ... · APRIL 29th, 2009 Q1 2009 REVENUES CONFERENCE CALL 7 418 326 2008 2009 496 639 2008 2009 Q1 SALES AT -22.4% VS. 2008

APRIL 29th 2009 Q1 2009 REVENUES CONFERENCE CALL

Q1 2009 Revenues

Thierry MoulonguetEVP & CFO

Jérôme StollEVP & Leader of Europe region