2007 Interactive Registration Document - Renault

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07 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS B – Changes in provisions (other than provisions for pension and other long-term employee obligations) (€ million) RESTRUCTURING PROVISIONS WARRANTY PROVISIONS TAX RISKS AND LITIGATION PROVISIONS OTHER PROVISIONS TOTAL At December 31, 2005 435 945 237 476 2,093 Increases 187 649 89 128 1,053 Reversals of provisions for application (178) (817) (65) (134) (1,194) Reversals of unused balance of provisions (22) (48) (32) (76) (178) Changes in scope of consolidation - - 1 (4) (3) Translation adjustments and other changes 23 6 (8) (49) (28) At December 31, 2006 445 735 222 341 1,743 Increases 58 695 59 91 903 Reversals of provisions for application (278) (589) (26) (81) (974) Reversals of unused balance of provisions (6) (6) (76) (37) (125) Changes in scope of consolidation - (3) - (26) (29) Translation adjustments and other changes 34 (13) (6) (17) (2) At December 31, 2007 253 819 173 271 1,516 Reversal of unused balances mainly result from changes in the assumptions used to estimate the original provision. At December 31, 2007, other provisions included €50 million of provisions established in application of environmental regulations (€81 million at December 31, 2006). These provisions principally concern environmental compliance costs for industrial land that the Group intends to sell (particularly on the Boulogne Billancourt site) and expenses related to the EU directive on end-of-life vehicles (note 29-A2). In 2007, €4 million were allocated to these provisions, and €20 million were reversed. As greenhouse gas emissions were lower than the Group’s allocated quotas, no associated provisions were booked at December 31, 2007. C – Provisions for pensions and other long-term employee benefit obligations C1 – Pension and benefit plans Pensions and other long-term employee benefi t obligations essentially concern current employees. These benefi ts are covered either by contributions to defi ned-contribution plans or by defi ned-benefi t plans. Defined-contribution plans The Group makes earnings-related payments, in accordance with local practices , to the national organisations responsible for paying pensions and similar fi nancial benefi ts. There is no actuarial liability concerning these pension arrangements. The total expense for defi ned-contribution plans is approximately €450 million in 2007 (€500 million in 2006). Defined-benefit plans Provisions are established for this type of plan, mainly concerning indemnities payable upon retirement, but also covering: other payments upon retirement and supplementary pensions; other long-term benefi ts, chiefl y long-service awards and fl exible holiday entitlements; healthcare expense coverage. Defi ned-benefi t plans are sometimes covered by funds which are valued annually based on market value. The value of fund assets, if any, is deducted from the corresponding liability. In view of the amounts involved (€388 million at December 31, 2007), the Group’s exposure to risk resulting from changes in these fund asset values is low (see note 20-C3). C2 – Actuarial assumptions The main actuarial assumptions used for the companies in France, the country accounting for most of the Group’s obligations, are the following: Retirement age 60 to 65 Salary increase 3% Discount rate (1) 5.3 % (1) The rate most frequently used to value the Group’s obligations in France is 5.3% (4,4% in 2006 and 4,0% in 2005). However, the rate varies between companies depending on the maturities of obligations. 216 Registration Document Renault 2007 Find out more at www.renault.com n n n < TABLE OF CONTENTS > 01 02 03 04 05 06 07 08
C3 – Summary ✦ Global Reporting Initiative (GRI) Directives FINANCIAL STATEMENTS 07 CONSOLIDATED FINANCIAL STATEMENTS (€ million) DECEMBER 31, 2007 DECEMBER 31, 2006 DECEMBER 31, 2005 DECEMBER 31, 2004 Present value of obligations 1,580 1,507 1,287 1,097 Fair value of fund assets (388) (363) (247) (230) Actuarial gains and losses on obligations (335) (242) (138) (30) Actuarial gains and losses on fund assets 37 27 8 - C4 – Provisions for pension and other long-term employee benefit obligations (at December 31) (€ million) DECEMBER 31, 2007 DECEMBER 31, 2006 DECEMBER 31, 2005 French companies 1,064 978 877 Foreign companies 139 179 178 TOTAL 1,203 1,157 1,055 C5 – Change in the provisions for pension and other long-term employee benefit obligations (€ million) OBLIGATIONS FUND ASSETS OBLIGATIONS NET OF FUND ASSETS PAST SERVICE COSTS BALANCE SHEET PROVISION Balance at December 31, 2005 1,287 (247) 1,040 15 1,055 Net expense for the year 2006 (note 20-C6) 131 (15) 116 (2) 114 Benefits paid and contribution to funds (63) (28) (91) - (91) Actuarial gains (losses) 102 (19) 83 - 83 Unrecorded past service cost - - - - - Translation adjustments 2 (3) (1) - (1) Change in scope of consolidation and other 48 (51) (3) - (3) Balance at December 31, 2006 1,507 (363) 1,144 13 1,157 Net expense for the year 2007 (note 20-C6) 136 (21) 115 (2) 113 Benefits paid and contribution to funds (91) (16) (107) (107) Actuarial gains (losses) 93 (10) 83 83 Unrecorded past service cost - - - - Translation adjustments (27) 23 (4) (4) Change in scope of consolidation and other (38) (1) (39) (39) Balance at December 31, 2007 1,580 (388) 1,192 11 1,203 The increase in actuarial losses in 2007 and 2006 is principally attributable to the French companies, largely as a result of the French laws on S ocial S ecurity fi nancing. These laws subject retirement bonuses to S ocial S ecurity charges C6 – Net expense for the year < TABLE OF CONTENTS > when the employee leaves the company at his own initiative. While the Group has not modifi ed the way it manages retirements, the effects of these laws have been taken into consideration in its actuarial parameters. (€ million) 2007 2006 2005 Current service cost 88 86 97 Cost of unwinding the discount 46 43 40 Expected return on fund assets (21) (15) (6) Net expense for the year 113 114 131 01 02 03 04 05 06 07 08 Registration Document Renault 2007 217
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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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5.3 MARKET FOR RENAULT SHARES 5.3.1
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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
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Page 205 and 206: 7 - OTHER OPERATING INCOME AND EXPE
Page 207 and 208: B - Changes during the year (€ mi
Page 209 and 210: 13 - INVESTMENT IN NISSAN A - Nissa
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: The plans have been valued as follo
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
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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
Page 259 and 260: ADDITIONAL INFORMATION 08 INFORMATI
Page 261 and 262: 8.3.1.3 PRESIDENT AND CHIEF EXECUTI
Page 263 and 264: COMPOSITION, TASKS AND OPERATING PR
Page 265 and 266: 8.3.3.2 USE AND/OR COMMUNICATION OF
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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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