2007 Interactive Registration Document - Renault

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07 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS B – Changes during the year Changes during 2007 in property, plant and equipment were as follows: DECEMBER 31, ACQUISITIONS/ (DISPOSALS)/ CHANGE IN SCOPE TRANSLATION OF CONSOLIDATION DECEMBER 31, (€ million) 2006 (DEPRECIATION) REVERSALS ADJUSTMENTS AND OTHER 2007 Land 645 23 (28) (10) (17) 613 Buildings 5,422 316 (129) (43) 5 5,571 Specific tools 7,675 1,229 (677) (79) (5) 8,143 Machinery and other tools 11,605 1,096 (457) (48) (258) 11,938 Vehicles leased to customers 2,308 1,005 (1,126) (20) 79 2,246 Other tangibles 830 35 (130) (7) (10) 718 Construction in progress (1) 1,718 (426) - (14) (46) 1,232 Property, plant and equipment, gross 30,203 3,278 (2,547) (221) (252) 30,461 Land - - - - - - Buildings (2,304) (266) 103 13 24 (2,430) Specific tools (5,732) (841) 671 39 (84) (5,947) Machinery and other tools (7,675) (875) 395 17 271 (7,867) Vehicles leased to customers (632) (124) 215 6 (43) (578) Other tangibles (694) (35) 137 4 4 (584) Construction in progress - - - - - - Depreciation (17,037) (2,141) 1,521 79 172 (17,406) Land 645 23 (28) (10) (17) 613 Buildings 3,118 50 (26) (30) 29 3,141 Specific tools 1,943 388 (6) (40) (89) 2,196 Machinery and other tools 3,930 221 (62) (31) 13 4,071 Vehicles leased to customers 1,676 881 (911) (14) 36 1,668 Other tangibles 136 - 7 (3) (6) 134 Construction in progress (1) 1,718 (426) - (14) (46) 1,232 Property, plant and equipment net 13,166 1,137 (1,026) (142) (80) 13,055 (1) Construction in progress is reported in the “acquisitions/depreciation” column. Changes during 2006 in property, plant and equipment were as follows: < TABLE OF CONTENTS > (€ million) GROSS VALUE DEPRECIATION NET VALUE Value at December 31, 2005 28,971 (16,280) 12,691 Acquisitions (note 27-C)/(depreciation) 3,577 (2,139) 1,438 (Disposals)/reversals (2,480) 1,420 (1,060) Translation adjustment (22) 31 9 Change in scope of consolidation and other 157 (69) 88 Value at December 31, 2006 30,203 (17,037) 13,166 206 Registration Document Renault 2007 Find out more at www.renault.com 01 02 03 04 05 06 07 08
13 – INVESTMENT IN NISSAN A – Nissan consolidation method Renault holds 44.3% ownership in Nissan. Renault and Nissan have chosen to develop a unique type of alliance between two distinct companies with common interests, uniting forces to achieve optimum performance. The Alliance is organised so as to preserve individual brand identities and respect each company’s corporate culture. Consequently: n n n n Renault does not hold the majority of Nissan voting rights; the terms of the Renault-Nissan agreements do not entitle Renault to appoint the majority of Nissan directors, nor to hold the majority of voting rights at meetings of Nissan’s Board of Directors; at December 31, 2007 as in 2006 and 2005, Renault supplied 4 of the total 9 members of Nissan’s Board of Directors; Renault-Nissan b.v., owned 50% by Renault and 50% by Nissan, is the Alliance’s joint decision-making body for strategic issues concerning either group individually. Its decisions are applicable to both Renault and Nissan. This entity does not enable Renault to direct Nissan’s fi nancial and operating strategies, and cannot therefore be considered to represent contractual control by Renault over Nissan. The matters examined by Renault-Nissan b.v. since it was formed have remained strictly within this contractual framework, and are not an indication that Renault exercises control over Nissan; Renault can neither use nor infl uence the use of Nissan’s assets in the same way as its own assets; C – Changes in the investment in Nissan (€ million) ✦ Global Reporting Initiative (GRI) Directives BEFORE NEUTRALISATION (SEE RIGHT) n FINANCIAL STATEMENTS 07 CONSOLIDATED FINANCIAL STATEMENTS Renault provides no guarantees in respect of Nissan’s debt. In view of this situation, Renault is considered to exercise signifi cant infl uence in Nissan, and therefore uses the equity method to include its investment in Nissan in the consolidation. B – Nissan consolidated financial statements included under the equity method in the Renault consolidation The Nissan accounts included under the equity method in Renault’s fi nancial statements are Nissan’s consolidated accounts published in compliance with Japanese accounting standards (as Nissan is listed on the Tokyo stock exchange), after adjustments for the requirements of the Renault consolidation. Nissan publishes consolidated fi nancial statements quarterly, and annually at March 31. For the purposes of the Renault consolidation, Nissan results are included in line with the Renault calendar (the results for the period January to December are consolidated in Renault’s annual fi nancial statements). The threemonth difference in Nissan’s consolidation of certain entities in its group (mainly in Europe and Mexico) has been absorbed over 2007. This has given rise to a profi t of some €50 million , included in Nissan’s contribution to Renault’s net income for 2007. Following Nissan’s equity transactions, Nissan held 2.7% of its own shares at December 31, 2007, compared to 2.1% at December 31, 2006 and 3.0% at December 31, 2005. Consequently, Renault’s percentage interest in Nissan was 45.6% at December 31, 2007, compared to 45.3% at December 31, 2006 and 45.7% at December 31, 2005. NEUTRALISATION OF 44.3% OF NISSAN’S INVESTMENT IN RENAULT (1) NET < TABLE OF CONTENTS > SHARE IN NET ASSETS NET GOODWILL TOTAL At December 31, 2005 10,590 (962) 9,628 813 10,441 2006 net income 1,888 - 1,888 - 1,888 Dividend distributed (431) - (431) - (431) Translation adjustment (1,093) - (1,093) (92) (1,185) Other changes (2) 144 - 144 (80) 64 At December 31, 2006 11,098 (962) 10,136 641 10,777 2007 net income 1,288 - 1,288 - 1,288 Dividend distributed (456) - (456) - (456) Translation adjustment (587) - (587) (31) (618) Other changes (2) (6) - (6) (19) (25) At December 31, 2007 11,337 (962) 10,375 591 10,966 (1) At December 31, 2007 and 2006, Nissan held 15% of Renault. (2) Other changes include Renault dividends received by Nissan, the change in actuarial gains and losses on pension obligations, the change in the financial instruments revaluation reserve and changes in Nissan treasury shares. Nissan’s contribution to Renault net income for 2006 included an exceptional profi t of €82 million due to fi nalisation of the transfer of part of Nissan’s pension obligations to the Japanese state (€450 million in 2005). 01 02 03 04 05 06 07 08 Registration Document Renault 2007 207
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2007 REGISTRATION DOCUMENT
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TABLE OF CONTENTS 01 RENAULT AND TH
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01 Renault and the Group < TABLE OF
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1.1.2 BACKGROUND AND HIGHLIGHTS 189
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1.1.3 MAIN ACTIVITIES Since the fi
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I n the luxury E segment, Renault l
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PRODUCTION OF THE MAIN MANUFACTURIN
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HIGHLIGHTS IN GROUP NETWORK STRATEG
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In April 2007, in addition to an or
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n n in Morocco, Renault signed a me
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RENAULT RETAIL GROUP SA 117-199, av
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* REAL ESTATE AND IT FINANCING FOR
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1.3 THE RENAULT-NISSAN ALLIANCE On
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RENAULT SHARE PRICE FROM MARCH 29,
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These two entities are free to acce
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Interchangeable components Compleme
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MANUFACTURING Renault and Nissan ha
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1.3.4.1 NISSAN’S STRATEGY AND GRO
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1.3.4.2 NISSAN’S 2007 CONTRIBUTIO
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SALES IN WESTERN EUROPE RENAULT AND
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GLOBAL SALES AND PRODUCTION SITES
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02 Management report < TABLE OF CON
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FRANCE & EUROPE REGIONS - GROUP SAL
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for 67.1% of the Group’s sales in
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INTERNATIONAL ROLLOUT OF THE LOGAN
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In 2007, RCI Banque also launched f
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RENAULT GROUP - REGISTRATIONS IN EU
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Renault g roup’s new geographical
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Renault g roup - R&D expenses* Glob
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2.1.3 FINANCIAL INFORMATION ON THE
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2.1.4 PROGRESS REPORT ON RENAULT CO
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The Renault [T] (“square T”) te
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2.2.3 2007 R&D HIGHLIGHTS 2.2.3.1 A
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Industrial risk The decision to set
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MANAGEMENT PROCEDURES Between 1990
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MANAGEMENT PROCEDURES Import subsid
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Renault Finance also trades for its
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In early 2005 RCI Banque also secur
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2.3.5 OTHER RISKS 2.3.5.1 OFF-BALAN
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03 Sustainable development < TABLE
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of employee commitment remains one
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Over the past three years, incentiv
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For 2007, Group turnover totaled 7%
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3.1.2.5 TRAINING Vocational trainin
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Efforts continued in 2007 to extend
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The agreement on teleworking was si
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TEST LABORATORY Renault’s test la
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COMPARATIVE INVENTORY AND PROGRESS
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Renault is implementing a three-pro
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Liquefied Petroleum Gas (LPG) and C
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USE Use-phase waste is generated by
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3.2.3 CROSS-FUNCTIONAL MANAGEMENT O
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VEHICLE DESIGN AND DEVELOPMENT PROC
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ENVIRONMENTAL MANAGEMENT IN THE VEH
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SHARING RENAULT’S KNOW-HOW WITH O
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3.3.2 RENAULT AND ITS STAKEHOLDERS
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In 2007, Renault participated as an
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BREAKDOWN OF ACCIDENTS RESULTING IN
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The Safety for All program in Moroc
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“VALUED CITIZENS” PROGRAM IN SO
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MAIN HR OBJECTIVES ✦ Global Repor
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3.4.3 SOCIAL OBJECTIVES KEY OBJECTI
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OEKOM Oekom, one of Germany’s lea
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TABLE OF CONTENTS > SUSTAINABLE DEV
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TABLE OF CONTENTS > 04 Corporate go
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DIRECTORS OFFICES/FUNCTIONS Carlos
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DIRECTORS OFFICES/FUNCTIONS Jean-Cl
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THE ALLIANCE: n took cognizance of
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In compliance with French legal and
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4.2 MANAGEMENT BODIES AT FEBRUARY 1
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ORGANIZATION CHART AT FEBRUARY 1, 2
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4.3.3 FEES PAID TO STATUTORY AUDITO
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The Chairman of the Board of Direct
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Summary of plans The options grante
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CORPORATE GOVERNANCE 04 REPORT OF T
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PROCEDURES AND OPERATING METHODS Th
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4.5.2.7 ORGANIZATION OF PROCEDURES
Page 157 and 158: CORPORATE GOVERNANCE 04 STATUTORY A
Page 159 and 160: 05 Renault and its shareholders < T
Page 161 and 162: 5.1.2.2 GENERAL MEETINGS OF SHAREHO
Page 163 and 164: 5.2.4 UNISSUED AUTHORIZED CAPITAL 5
Page 165 and 166: 5.3 MARKET FOR RENAULT SHARES 5.3.1
Page 167 and 168: 5.3.2 RENAULT AND DIAC REDEEMABLE S
Page 169 and 170: 5.4 INVESTOR RELATIONS POLICY ✦ S
Page 171 and 172: TABLE OF CONTENTS > RENAULT AND ITS
Page 173 and 174: TABLE OF CONTENTS > 06 Mixed Genera
Page 175 and 176: APPOINTMENT OF A DIRECTOR The seven
Page 177 and 178: CAPITAL INCREASE AUTHORISATION GIVE
Page 179 and 180: TABLE OF CONTENTS > MIXED GENERAL M
Page 181 and 182: TABLE OF CONTENTS > 07 Financial st
Page 183 and 184: ✦ Global Reporting Initiative (GR
Page 185 and 186: 7.2.3 CONSOLIDATED SHAREHOLDERS’
Page 187 and 188: 7.2.4 CONSOLIDATED STATEMENTS OF CA
Page 189 and 190: A2 - CONSOLIDATED BALANCE SHEETS BY
Page 191 and 192: DECEMBER 31, 2005 (€ million) AUT
Page 193 and 194: (€ million) AUTOMOBILE SALES FINA
Page 195 and 196: B - INFORMATION BY GEOGRAPHIC AREA
Page 197 and 198: 7.2.6.1 ACCOUNTING POLICIES AND SCO
Page 199 and 200: F - Translation of foreign currency
Page 201 and 202: Useful lives are regularly reviewed
Page 203 and 204: Renegotiations of the terms of borr
Page 205 and 206: 7 - OTHER OPERATING INCOME AND EXPE
Page 207: B - Changes during the year (€ mi
Page 211 and 212: G - Hedging of the investment in Ni
Page 213 and 214: 15 - INVENTORIES DECEMBER 31, DECEM
Page 215 and 216: A dividend distribution of €3.80
Page 217 and 218: The plans have been valued as follo
Page 219 and 220: C3 - Summary ✦ Global Reporting I
Page 221 and 222: B - Breakdown by category ✦ Globa
Page 223 and 224: B - Breakdown by category DECEMBER
Page 225 and 226: C1 - Financial liabilities of the A
Page 227 and 228: B - Impact of financial instruments
Page 229 and 230: DECEMBER 31, 2005 (€ million) ✦
Page 231 and 232: Interest rate derivatives B3 - Equi
Page 233 and 234: 28 - RELATED PARTIES A - Remunerati
Page 235 and 236: 31 - CONSOLIDATED COMPANIES A - Ful
Page 241 and 242: 1. WITH COGERA Credit facility agre
Page 243 and 244: BALANCE SHEET ✦ Global Reporting
Page 245 and 246: E - Marketable securities Marketabl
Page 247 and 248: 7.4.2.7 INVESTMENTS Changes during
Page 249 and 250: 7.4.2.13 PROVISIONS FOR RISKS AND L
Page 251 and 252: Breakdown by maturity ✦ Global Re
Page 253 and 254: Renault SA uses derivatives to impl
Page 255 and 256: 7.4.2.23 SUBSEQUENT EVENTS No signi
Page 257 and 258: 08 Additional information < TABLE O
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ADDITIONAL INFORMATION 08 INFORMATI
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8.3.1.3 PRESIDENT AND CHIEF EXECUTI
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COMPOSITION, TASKS AND OPERATING PR
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8.3.3.2 USE AND/OR COMMUNICATION OF
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Renault made its fi rst inventory o
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SITE WATER CONSUMPTION (m 3 thousan
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Nature and scope of the audit We pe
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ADDITIONAL INFORMATION 08 CROSS-REF
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GRI INDICATORS (1) ADDITIONAL INFOR
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