2007 Interactive Registration Document - Renault

07 CONSOLIDATED
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS
24 – FINANCIAL LIABILITIES AND SALES FINANCING DEBTS
A – Breakdown by nature
DECEMBER 31, 2007 DECEMBER 31, 2006 DECEMBER 31, 2005
(€ million) NON-CURRENT CURRENT TOTAL NON-CURRENT CURRENT TOTAL NON-CURRENT CURRENT TOTAL
Renault SA redeemable shares 697 - 697 749 - 749 718 - 718
Bonds 3,728 416 4,144 3,575 618 4,193 3,415 1,084 4,499
Other debts represented by a certificate - - - - - - - 46 46
Borrowings from credit institutions 179 275 454 346 1,508 1,854 1,063 584 1,647
Other interest-bearing borrowings 244 598 842 310 1,397 1,707 267 626 893
Financial liabilities of the Automobile
division (excluding derivatives)
Derivative liabilities on financing operations
4,848 1,289 6,137 4,980 3,523 8,503 5,463 2,340 7,803
of the Automobile division 293 228 521 179 192 371 171 207 378
Total financial liabilities of the
Automobile division (note 24-B) 5,141 1,517 6,658 5,159 3,715 8,874 5,634 2,547 8,181
Diac redeemable shares 19 - 19 19 - 19 15 - 15
Bonds - 7,847 7,847 - 8,961 8,961 - 10,116 10,116
Other debts represented by a certificate 253 9,142 9,395 252 7,609 7,861 252 7,405 7,657
Borrowings from credit institutions - 3,989 3,989 - 4,401 4,401 - 4,652 4,652
Other interest-bearing borrowings - 62 62 - 124 124 - 75 75
Total financial liabilities and debts
of the Sales financing division
(excluding derivatives)
Derivative liabilities on financing operations
272 21,040 21,312 271 21,095 21,366 267 22,248 22,515
of the Sales financing division - 156 156 - 117 117 - 179 179
Financial liabilities and debts of the
Sales financing division (note 24-B) 272 21,196 21,468 271 21,212 21,483 267 22,427 22,694
TOTAL FINANCIAL LIABILITIES AND
DEBTS OF THE SALES FINANCING
DIVISION 5,413 22,713 28,126 5,430 24,927 30,357 5,901 24,974 30,875
Redeemable shares
The redeemable shares issued in October 1983 and April 1984 by Renault SA
are subordinated perpetual shares. They earn a minimum annual return of 9%
comprising a fi xed portion (6.75%) and a variable portion that depends on
consolidated revenues and is calculated based on identical Group structure and
methods. The return on redeemable shares, amounting to €17 million for 2007
(identical to 2006 and 2005), is included in interest expenses. These shares
are listed on the Paris Stock Exchange, and traded for €940 at December 31,
2006 and €874 at December 31, 2007 for par value of €153, leading to a
corresponding €53 million adjustment to the fair value of redeemable shares
recorded in other fi nancial income (note 8).
The return on Diac redeemable shares issued in 1985 comprises a fi xed
portion equal to the Annual Monetary Rate, and a variable portion calculated
by multiplying an amount equal to 40% of the Annual Monetary Rate by the
rate of increase in net consolidated profi t of the Diac sub-group compared to
the prior year.
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Changes in bonds
In 2007, Renault SA redeemed bonds issued in 2000 and 2004 for a total
of €451 million, and undertook new bond issues totalling €588 million and
maturing between 2010 and 2017.
RCI Banque also redeemed bonds for a total of €3,139 million in 2007, and
issued new bonds totalling €2,022 million and maturing between 2008 and
2012.
Credit lines
At December 31, 2007 the Renault group’s open credit lines with banks amounted
to the equivalent of €10,818 million in various currencies (€10,731 million in
2006), with maturities extending to 2011. The short-term portion amounted
to €3,600 million at December 31, 2007 (€3,440 million in 2006). A total of
€59 million of these credit lines was in use at December 31, 2007 (€48 million
at December 31, 2006).
220 Registration Document Renault 2007
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