07 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS Changes in the number of stock options held by personnel QUANTITY WEIGHTED AVERAGE EXERCISE PRICE (€) WEIGHTED AVERAGE SHARE PRICE AT GRANT AND EXERCISE DATES (€) QUANTITY <strong>2007</strong> 2006 WEIGHTED AVERAGE EXERCISE PRICE (€) WEIGHTED AVERAGE SHARE PRICE AT GRANT AND EXERCISE DATES (€) Outstanding at January 1 16,539,634 66 13,299,707 54 Granted 2,018,300 95 96 5,096,400 89 88 Exercised (2,268,502) 47 99 (1,856,473) 46 86 Expired (66,500) 67 100 - - - Outstanding at December 31 16,222,932 72 16,539,634 66 Options and free share attribution rights yet to be exercised at December 31, <strong>2007</strong> N° PLAN TYPE OF PLAN GRANT DATE EXERCISE PRICE (€) OUTSTANDING EXERCISE PERIOD Plan 2 Stock purchase options October 28, 1997 24. 89 - October 29, 2002 – October 27, <strong>2007</strong> Plan 3 Stock purchase options October 27, 1998 32. 13 243,769 October 28, 2003 – October 26, 2008 Plan 4 Stock purchase options March 16, 1999 40. 82 20,000 March 17, 2004 – March 15, 2009 Plan 5 Stock purchase options October 19, 1999 50. 94 356,714 October 20, 2004 – October 18, 2009 September 7, 2000 49. 27 September 8, 2005 – September 6, 2010 Plan 6 Stock purchase options and October 24, 2000 49. 57 486,774 October 25, 2005 – October 23, 2010 Plan 7 Stock purchase options December 18, 2001 48. 97 968,741 December 19, 2006 – December 17, 2011 Plan 8 Stock purchase options September 5, 2002 49. 21 1,609,007 September 6, <strong>2007</strong> – September 4, 2012 Plan 9 Stock purchase options September 8, 2003 53. 36 1,700,484 September 9, <strong>2007</strong> – September 7, 2011 Plan 10 Stock subscription options September 14, 2004 66. 03 2,128,650 September 15, 2008 – September 13, 2012 Plan 11 Stock subscription options September 13, 2005 72. 98 1,618,593 September 14, 2009 – September 12, 2013 Plan 12 Stock subscription options May 4, 2006 and May 12, 2006 and June 30, 2006 87. 98 1,663,200 May 5, 2010 – May 5, 2014 Plan 13 Stock subscription options May 4, 2006 and May 12, 2006 and July 17, 2006 87. 98 2,728,700 May 5, 2010 – May 5, 2014 Plan 13 bis Attribution of free shares May 12, 2006 and July 17, 2006 - 1,374 ,5 00 May 5, 2012 (1) December 5, 2006 Plan 14 Stock subscription options and February 19, <strong>2007</strong> 93. 86 1,843,300 December 6, 2010 – December 4, 2014 Plan 15 (2) Stock subscription options December 5, <strong>2007</strong> 96. 54 695,000 December 6, 2011 – December 5, 2015 Plan 16 (2) Stock subscription options December 5, <strong>2007</strong> 96. 54 160,000 December 6, 2011 – December 5, 2015 Plan 16 bis (2) Attribution of free shares December 5, <strong>2007</strong> - 60,000 December 6, 2013 (1) (1) The free shares will be delivered to employees on May 5, 2010 and December 6, 2011 respectively for plans 13 and 16 bis, and must be held a minimum of two years before resale. (2) 695,000 options, 160,000 options and 60,000 free shares respectively had been attributed at December 31, <strong>2007</strong> under plans 15, 16 and 16 bis. The total authorised by the Board of Directors is 2,080,000 options, 797,787 options and 132,166 free shares respectively. The grant date is the date at which benefi ciaries are informed of the decision to grant these options or shares, and the terms of the relevant plans. H – Share-based payments Share-based payments exclusively concern stock options and free shares awarded to personnel. Plan values The options awarded under these plans only become vested after a period of fi ve years for plans 1 to 8, and four years for plans 9 to 16. For stock option < TABLE OF CONTENTS > plans, the exercise period then covers fi ve years for plans 1 to 8 and four years for plans 9 to 16. Loss of the benefi t of these options follows the applicable regulations: all options are forfeited in the event of resignation, and a decision is made for each individual case when an employee leaves at the company’s instigation. The valuation method follows a suitable binomial mathematical model, with exercise of the options anticipated and spread over the exercise period on a straight-line basis. The volatility factor applied is implicit volatility at the grant date. The dividend used is determined by reference to the dividend payout schedule contained in the <strong>Renault</strong> Commitment 2009 plan. 214 <strong>Registration</strong> <strong>Document</strong> <strong>Renault</strong> <strong>2007</strong> Find out more at www.renault.com 01 02 03 04 05 06 07 08
The plans have been valued as follows: ✦ Global Reporting Initiative (GRI) Directives FINANCIAL STATEMENTS 07 CONSOLIDATED FINANCIAL STATEMENTS EXPENSE EXPENSE EXPENSE SHARE PRICE DURATION INITIAL VALUE UNIT FAIR FOR <strong>2007</strong> FOR 2006 FOR 2005 AT GRANT INTEREST EXERCISE OF PLAN (thousands of €) VALUE (€ million) (€ million) (€ million) DATE (€) VOLATILITY RATE PRICE (€) OPTION (1) DIVIDEND PER SHARE (€) Plan 9 32,820 18.15 (6) (8) (8) 55.40 33.0% 3.79% 53.36 4–8 years 1.15 Plan 10 39,870 19.75 (9) (9) (9) 69.05 27.0% 3.71% 66.03 4–8 years 1.40 Plan 11 22,480 14.65 (6) (8) (1) 72.45 23.5% 2.68% 72.98 4–8 years 1.80 Plan 12 (2) 17,324 15.42 (5) (3) - 87.05 28.1% 3.90% 87.98 4–8 years 2.40–4.50 Plan 13 (2) 36,634 15.59 (9) (5) - 87.82 27.2% 3.85% 87.98 4–8 years 2.40–4.50 Plan 13 bis (2) 74,666 69.86 (20) (8) - 83.71 N/A 3.83% N/A N/A 2.40–4.50 Plan 14 (2) 26,066 14.14 (6) - - 92.65 26.7% 3.88% 93.86 4–8 years 2.40–4.50 Plan 15 14,849 21.36 (1) - - 99.10 34.0% 3.89% 96.54 4–8 years 2.40–4.50 Plan 16 3,418 21.36 - - - 99.10 34.0% 3.89% 96.54 4–8 years 2.40–4.50 Plan 16 bis 4,787 79.78 - - - 99.10 N/A 3.89% N/A N/A 2.40–4.50 TOTAL 272,914 (62) (41) (18) (1) Period during which the option is not considered vested for tax purposes. (2) For these plans, options or free share attribution rights have been awarded at different dates within the stated period. The information reported m ay correspond to weighted averages based on quantities awarded per grant date. 20 – PROVISIONS A – Provisions at December 31 (€ million) DECEMBER 31, <strong>2007</strong> DECEMBER 31, 2006 DECEMBER 31, 2005 Provisions (other than provisions for pension and other long-term employee obligations) 1,516 1,743 2,093 Provisions for restructuring and workforce adjustment costs 253 445 435 Provisions for warranty costs 819 735 945 Provisions for tax risks and litigation 173 222 237 Other provisions 271 341 476 Provisions for pension and other long-term employee benefit obligations 1,203 1,157 1,055 TOTAL PROVISIONS 2,719 2,900 3,148 Provisions – long-term 1,765 1,847 1,884 Provision – short-term 954 1,053 1,264 All known litigation in which <strong>Renault</strong> or Group companies are involved is examined at each closing. After seeking the opinion of legal advisors, any provisions deemed necessary are set aside to cover the estimated risk. < TABLE OF CONTENTS > 01 02 03 04 05 06 07 08 <strong>Registration</strong> <strong>Document</strong> <strong>Renault</strong> <strong>2007</strong> 215
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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
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CORPORATE GOVERNANCE 04 STATUTORY A
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05 Renault and its shareholders < T
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5.1.2.2 GENERAL MEETINGS OF SHAREHO
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5.2.4 UNISSUED AUTHORIZED CAPITAL 5
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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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(www.renault.com) Photos cre dits: