2007 Interactive Registration Document - Renault

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07 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS Renault Argentina Renault Argentina SA manages a savings plan called Plan Rombo SA, designed to enable savers’ groups to acquire vehicles. The savers make monthly contributions to the plan and a vehicle is delivered at the end of a given period. At December 31, 2007, Plan Rombo SA had approximately 500 savers’ groups on its books. Renault Argentina SA and Plan Rombo SA are jointly responsible to subscribers for the correct operation of the plan. Renault’s corresponding off-balance sheet commitment amounts to 82 million Argentinean pesos at December 31, 2007 (€18 million). Other commitments Disposals of subsidiaries or businesses by the Group generally include representations and warranties in the buyer’s favour. At December 31, 2007, Renault had not identified any significant risks in connection with these operations. Following partial sales of subsidiaries during previous years, Renault retains options to sell all or a portion of its residual investment. Exercising these options would not have any signifi cant impact on the consolidated fi nancial statements. Under the agreement signed in April 2003, when Renault sold a 51% stake in Renault Agriculture to Claas, after Claas exercised its option to acquire a further 29% in February 2006, Renault and Claas now hold a sale and purchase option respectively for the remaining 20%, which may be exercised from January 1, 2010. The agreement signed in March 2007 by Renault and the Japanese group NTN for the sale of 35% of SNR also provides for a fi rm future purchase by NTN of a further 16% in SNR on the fi rst anniversary of the sale. In addition, Renault and NTN respectively hold a sale and purchase option concerning 29% of SNR, which can be exercised during a 60-day period starting on the 3 rd and 4 th anniversary dates of the original transaction. From the 5 th anniversary date, Renault has a unilateral option to sell its residual 20% investment in SNR, valid for fi ve years. If this option is not exercised by the end of the fi ve-year period, NTN will have a purchase option on the residual investment. Group companies are periodically subject to tax inspections in the countries in which they operate. Tax adjustments are recorded as provisions in the fi nancial statements. Contested tax adjustments are recognised on a caseby-case basis, taking into account the risk that the proceedings or appeal m ay be unsuccessful. < TABLE OF CONTENTS > B – Off-balance sheet commitments received DECEMBER 31, DECEMBER 31, DECEMBER 31, (€ million) 2007 2006 2005 Other guarantees given Opening of confirmed credit lines 1,154 784 764 for customers (1) 10,759 10,683 10,643 Firm investment orders 506 395 208 Lease commitments 361 537 616 Assets pledged or mortgaged (2) 2,185 2,107 2,150 (1) The Sales financing division receives guarantees from its customers in the course of sales financing for new or used vehicles. Guarantees received from customers amount to €425 million at December 31, 2007. (2) Including €1,574 million for commitments received by the Sales financing division for sale to a third party of rental vehicles at the end of the rental contract. 30 – SUBSEQUENT EVENTS Substantial price decrease for Renault SA redeemable shares The value of the redeemable shares issued by Renault SA underwent a considerable decrease in early 2008: the quoted price fell from €874 at December 31, 2007 to €555 at January 31, 2008. As these shares are recorded at fair value (market value) through profi t and loss, such a change in the quoted price could have a signifi cant impact on the Group’s net fi nancial income. The estimated potential impact based on the price at January 31, 2008 corresponds to fi nancial income of €256 million with a corresponding decrease in non-current fi nancial liabilities (no impact on consolidated cash). This estimated impact will vary with fl uctuations in the quoted price of the redeemable shares. 232 Registration Document Renault 2007 Find out more at www.renault.com 01 02 03 04 05 06 07 08
31 – CONSOLIDATED COMPANIES A – Fully consolidated companies (subsidiaries) ✦ Global Reporting Initiative (GRI) Directives < TABLE OF CONTENTS > FINANCIAL STATEMENTS 07 CONSOLIDATED FINANCIAL STATEMENTS RENAULT GROUP’S INTEREST (%) AUTOMOBILE COUNTRY DECEMBER 31, 2007 DECEMBER 31, 2006 DECEMBER 31, 2005 FRANCE Renault s.a.s France 100 100 100 Arkanéo France 100 100 100 Auto Châssis International (ACI) Le Mans France 100 100 100 Auto Châssis International (ACI) Villeurbanne France 100 100 100 Car life Siège and subsidiaries France 100 100 100 Emboutissage Tôlerie Gennevilliers (ETG) France 100 100 100 France Services rapides and subsidiary France - - 100 Fonderie Le Mans France - - 100 SNR Group (Société Nouvelle de Roulements) France - 100 100 IDVU France 100 100 100 Maubeuge construction automobile (MCA) France 100 100 100 Renault développement industriel et commercial (RDIC) France 100 100 100 REAGROUP SA and subsidiaries France 100 100 100 SCI parc industriel du Mans France 100 100 100 SCI Plateau de Guyancourt France 100 100 100 SNC Renault Cléon France 100 100 100 SNC Renault Douai France 100 100 100 SNC Renault Flins France 100 100 100 SNC Renault Le Mans France 100 100 100 SNC Renault Sandouville France 100 100 100 Société des automobiles Alpine Renault France 100 100 100 Sofrastock International France 100 100 100 Société de transmissions automatiques France 80 80 80 Société de véhicules automobiles de Batilly (SOVAB) Société Immobilière de Construction Française pour l’Automobile et la Mécanique France 100 100 100 (SICOFRAM) and subsidiary France 100 100 100 Société immobilière Renault Habitation (SIRHA) France 100 100 100 Société Immobilière d’Epone France 100 100 100 Société Immobilière pour l’Automobile et la Mécanique (SIAM) France 100 100 100 SODICAM 2 France 100 100 100 Société financière et foncière (SFF) France 100 100 100 Technologie et exploitation informatique (TEI) France 100 100 100 EUROPE Auto Châssis International (ACI) Valladolid Spain 100 100 100 Cacia Portugal 100 100 100 Cofal Luxembourg 100 100 77 Grigny Ltd. United Kingdom 100 100 100 Mecanizacion Contable SA (Meconsa) Spain 100 100 100 Motor Reinsurance Company Luxembourg 100 100 100 Renault Belgique Luxembourg and subsidiaries Belgium 100 100 100 Renault Ceska Republica and subsidiaries Czech Republic 100 100 100 Renault Croatia Croatia 100 100 100 Renault Espana Comercial SA (REC SA) and subsidiaries Spain 100 100 100 Renault Espana SA and subsidiaries Spain 100 100 100 Renault Finance Switzerland 100 100 100 Renault F1 Team Ltd. United Kingdom 100 100 100 Renault Group b.v. Netherlands 100 100 100 01 02 03 04 05 06 07 08 Registration Document Renault 2007 233
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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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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
Page 201 and 202: Useful lives are regularly reviewed
Page 203 and 204: Renegotiations of the terms of borr
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 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 and 232: Interest rate derivatives B3 - Equi
Page 233: 28 - RELATED PARTIES A - Remunerati
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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