2007 Interactive Registration Document - Renault

07 CONSOLIDATED
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS
14 – INVESTMENTS IN OTHER ASSOCIATES
Details of other investments in other associates are as follows:
n balance sheet value: €2,011 million at December 31, 2007 (€2,181 million
at December 31, 2006 and €1,931 million at December 31, 2005);
A – Changes in the value of Renault’s investment in AB Volvo
Renault’s share in the net income of other associates: €387 million for 2007
(€389 million for 2006 and €322 million for 2005).
Most of these amounts relate to the investment in AB Volvo, accounted for
under the equity method.
(€ million) SHARE IN NET ASSETS NET GOODWILL TOTAL
At December 31, 2005 1,733 41 1,774
2006 net income 384 - 384
Dividend distributed (158) - (158)
Repurchase of AB Volvo own shares (2) (1) (3)
Translation adjustment, actuarial gains and losses and revaluation of financial instruments 41 2 43
At December 31, 2006 1,998 42 2,040
2007 net income 352 - 352
Dividend distributed (477) - (477)
Repurchase of AB Volvo own shares (1) - (1)
Translation adjustment, actuarial gains and losses and revaluation of financial instruments (78) (1) (79)
At December 31, 2007 1,794 41 1,835
AB Volvo owned 4.8% of its own shares at December 31, 2007 (4.9% at
December 31, 2006 and 5.0% at December 31, 2005). Renault’s investment
in AB Volvo thus stood at 21.8% at December 31, 2007, unchanged from
December 31, 2006 and from December 31, 2005.
B – Changes in AB Volvo equity restated for the purposes of the Renault consolidation
210 Registration Document Renault 2007
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n
Based on AB Volvo’s stock market share price of SEK 108.0 per A share and SEK
108.5 per B share at December 31, 2007, Renault’s investment in AB Volvo is
valued at €5,067 million (€4,650 million at December 31, 2006 based on the
prices of SEK 486.0 per A share and SEK 471.5 per B share).
(€ million) DECEMBER 31, 2006 NET INCOME 2007 DIVIDENDS OTHER CHANGES DECEMBER 31, 2007
Shareholders’ equity – AB Volvo share 9,613 1,615 (2,189) (333) 8,706
Restatements for Renault group requirements
Net assets restated for Renault group
(451) - - (24) (475)
requirements
Renault’s share in the net assets of
9,162 1,615 (2,189) (357) 8,231
AB Volvo 1,998 352 (477) (79) 1,794
The restatements applied for Renault group requirements mainly concern
cancellation of goodwill booked in AB Volvo’s accounts when AB Volvo was
acquired by Renault and recognition of actuarial gains and losses in equity.
C – AB Volvo financial information under IFRS
AB Volvo fi nancial information for 2007 established under IFRS, as published
by AB Volvo, is summarised as follows:
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(in millions of SEK) (€ million) (1)
2007 revenues 285,405 30,848
2007 net income
Shareholders’ equity
15,029 1,624
at December 31, 2007
Balance sheet total
82,781 8,768
at December 31, 2007 321,582 34,060
(1) Converted at the average exchange rate for 2007 i.e. SEK 9.25 = 1 euro for income statement
items, and at the December 31, 2007 rate i.e. SEK 9.44 = 1 euro for balance sheet items.
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