2007 Interactive Registration Document - Renault

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07 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS 7.2.6.5 CASH FLOWS AND OTHER INFORMATION 27 – CASH FLOWS A – Other unrealised income and expenses (€ million) 2007 2006 2005 Net allocation to provisions (185) (256) (19) Net effects of sales financing credit losses 54 14 167 Net gain (loss) on asset disposals (19) (188) (194) Change in fair value of redeemable shares (53) 34 271 Change in fair value of other financial instruments 76 40 (93) Deferred taxes (58) (86) 26 Other 71 12 6 OTHER UNREALISED INCOME AND EXPENSES (114) (430) 164 B – Change in working capital (€ million) 2007 2006 2005 Decrease (increase) in net inventories (862) 656 (496) Decrease (increase) in Automobile receivables (171) 51 (88) Decrease (increase) in other assets (419) 190 (256) Increase (decrease) in trade payables 1 008 (522) 364 Increase (decrease) in other liabilities 97 (61) 102 DECREASE (INCREASE) IN WORKING CAPITAL (347) 314 (374) C – Cash flows from investing activities (€ million) 2007 2006 2005 Purchases of intangible assets (1,348) (1,132) (880) Purchases of property, plant and equipment (3,278) (3,577) (3,223) Total purchases for the period (4,626) (4,709) (4,103) Deferred payments (18) 65 85 TOTAL CAPITAL EXPENDITURE (4,644) (4,644) (4,018) D – Interest received and paid by the Automobile division < TABLE OF CONTENTS > (€ million) 2007 2006 2005 Interest received 280 202 131 Interest paid (350) (281) (200) INTEREST RECEIVED AND PAID (70) (79) (69) 230 Registration Document Renault 2007 Find out more at www.renault.com 01 02 03 04 05 06 07 08
28 – RELATED PARTIES A – Remuneration of Directors and Executives The consideration and related benefi ts of the President and CEO and the Chairman of the Board of Directors amounted to €11.5 million and €2.4 million respectively for 2007 (€9.2 million and €4.0 million respectively for 2006). The following amounts were recognised in expenses in the relevant years: (€ million) 2007 2006 Basic salary 1.2 1.2 Performance-related salary 1.4 1.4 Employer’s social security charges 0.8 0.8 Complementary pension 0.6 0.7 Stock option plans 7.4 5.0 Other remuneration 0.1 0.1 President and CEO 11.5 9.2 Basic salary - 0.9 Fixed fee payable to the Chairman of the Board 0.2 0.2 Employer’s social security charges 0.1 0.3 Complementary pension 0.8 1.2 Stock option plans 1.3 1.3 Other remuneration 0.1 0.1 Chairman of the Board of Directors 2.4 4.0 Directors’ fees amounted to €557,770 in 2007 (€542,752 in 2006), of which €56,000 for the President and CEO and the Chairman of the Board (unchanged from 2006). B – Renault’s investment in Nissan Details of Renault’s investment in Nissan are provided in note 13. C – Renault’s investment in AB Volvo Details of Renault’s investment in AB Volvo are provided in note 14. 29 – OFF- BALANCE SHEET COMMITMENTS AND CONTINGENT LIABILITIES Renault enters into a certain number of commitments in the course of its business. When these commitments qualify as liabilities, they are covered by provisions (e.g. retirement and other personnel benefi ts, litigations, etc.). Details of off-balance sheet commitments and contingencies are provided below (note 29-A). Renault also receives commitments from customers (deposits, mortgages, etc) and m ay benefi t from credit lines with credit institutions (note 29-B). ✦ Global Reporting Initiative (GRI) Directives FINANCIAL STATEMENTS 07 CONSOLIDATED FINANCIAL STATEMENTS A – Off-balance sheet commitments given A1 – Ordinary operations The Group is committed for the following amounts: DECEMBER 31, DECEMBER 31, DECEMBER 31, (€ million) 2007 2006 2005 Other guarantees given Opening of confirmed credit lines 595 540 518 for customers (1) 2,616 2,509 2,198 Firm investment orders 690 799 949 Lease commitments 355 404 317 Assets pledged or mortgaged (2) 167 254 216 (1) Confirmed credit lines opened for customers by the Sales financing division lead to a maximum payment of this amount within 12 months after the year-end. (2) Pledged and mortgaged assets are mainly financial assets provided as guarantees by Renault Samsung Motors when it was acquired by Renault in 2000. Lease commitments include rent from non-cancellable leases. The breakdown is as follows: DECEMBER 31, DECEMBER 31, DECEMBER 31, (€ million) 2007 2006 2005 Less than 1 year 56 56 55 Between 1 and 5 years 234 239 207 More than 5 years 65 109 55 LEASE COMMITMENTS 355 404 317 A2 – Special operations End-of-life vehicles Under EC Directive 2000/53/EC concerning end-of-life vehicles, published in September 2000, EU member states will be obliged to take measures to ensure that: n n < TABLE OF CONTENTS > vehicles at the end of their useful life can be transferred to an approved processing centre free of charge to the last owner; specifi c progressive targets are met concerning the re-use rate for vehicle components, with priority given to recycling, and the value of components that can be re-used. Since January 1, 2007, this Directive has concerned all vehicles on the road. The Group establishes provisions in relation to the corresponding cost on a country-by-country basis, as the Directive is incorporated into national laws and when the procedures for recycling operations are defi ned. These provisions are regularly reviewed to ensure they take account of changes in each country’s situation. For countries where the legislation is not yet complete, until the laws are in existence, it is impossible to accurately determine whether the Group will have to bear a residual cost 01 02 03 04 05 06 07 08 Registration Document Renault 2007 231
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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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5.3.2 RENAULT AND DIAC REDEEMABLE S
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5.4 INVESTOR RELATIONS POLICY ✦ S
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TABLE OF CONTENTS > RENAULT AND ITS
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TABLE OF CONTENTS > 06 Mixed Genera
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APPOINTMENT OF A DIRECTOR The seven
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CAPITAL INCREASE AUTHORISATION GIVE
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TABLE OF CONTENTS > MIXED GENERAL M
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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
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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 203 and 204: Renegotiations of the terms of borr
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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 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: Interest rate derivatives B3 - Equi
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
Page 267 and 268: Renault made its fi rst inventory o
Page 269 and 270: SITE WATER CONSUMPTION (m 3 thousan
Page 271 and 272: Nature and scope of the audit We pe
Page 273 and 274: ADDITIONAL INFORMATION 08 CROSS-REF
Page 275 and 276: GRI INDICATORS (1) ADDITIONAL INFOR
Page 280: (www.renault.com) Photos cre dits:
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