2007 AnnuAl Report - Renault
2007Annualreport
2007Key figures*Group sales worldwide:2,484,472 vehiclesRevenues – Renault share: 40,682 millionOperating margin: 1,354 millionNet income — Renault share: 2,669 MillionDividend per share: 3.80**Workforce:130,179 Employees* Published figures.** As proposed at the Annual General Meeting on April 29, 2008.
2007Key figuresTOTAL INDUSTRY VOLUME – REGISTRATIONS – CARS LCVs(IN UNITS)Europe FranceEuromed Americas 9139 090 059,82531,984,18550,044,010RENAULT GROUP – MARKET SHARE – CARS LCVs(%)Europe FranceEuromed Americas 2.5%9.4%2.5%20078.8%2.7%RENAULT GROUP – REGISTRATIONS - CARS LCVs(IN UNITS)Europe FranceEuromed Americas 722,454,861INTERNATIONAL GROUP 1%*In line with the Renault Commitment 2009 business plan, the Group expects the volume of sales generated outside Europe to rise to 37% by 2009.RENAULT SHARE PERFORMANCE FROM DECEMBER 31, 2002 TO DECEMBER 31, 2007 ( )CAC 40 AND DJ STOXX AUTO INDEXED ON RENAULT SHARE PRICE AT DECEMBER 31, 2002 ( 44.78)Annual change Renault share 22.2% 12.5% 11.9% 6.6% 32.1%12510075Renault : 6.6%50DJ Euro Stoxx Auto : 19.59%Cac 40 : 1.31%Year-end priceHighLow25Jan.Apr.Jul.Oct.Dec. Jan.Apr.Jul.Oct.Dec. Jan.Apr.Jul.Oct.Dec. Jan.Apr.Jul.Oct.Dec. .3884.86Oct.Dec.
,000125,128 124,277 126,584 050030,0000020032004200520062007NET INCOME – RENAULT 50010,0000020052006200720073.80 2007SIMPLIFIED STRUCTURE OF THE RENAULTGROUP AT DECEMBER 31, 200764.5Foreign revenues 032005( MILLION)3,3673,0002003REVENUES – RENAULT SHARE( MILLION)2,500( )(IN UNITS)( MILLION)1,500DIVIDEND PER SHAREWORKFORCE*OPERATING MARGIN*200615%44.3 %RENAULT20%RENAULTSAMSUNGMOTORS200770.1%99. 4%AB VOLVORENAULT100% TRUCKSMACKDACIADomestic revenues (%)*Published figures. **As proposed at the Annual General Meeting on April 29, 2008.COMMERCIAL RESULTS(THOUSAND UNITS – CARS LCVs)EUROMED CE-1.8%20062007669657AMERICAS 32.2%20062007ASIA-AFRICA 9.8%18524520062007WORLDWIDE 2.1%200620072,4342,484175192
Contents2007 in picturesFrom the President & CEORenault Commitment 2009Corporate governanceCode of conductManagement teamRisk managementRenault shareholders245812131516Product Offensive gets underway18THE Renault-Nissan alliance32Efforts rewarded44Sustainable developmentdrives corporate strategy64sales performanceand financial performance72The product pipelinePassenger carsThe Logan programPowertrainsLight commercial vehiclesVehicle rangeThe principes of the AllianceCooperation and synergiesNissan in 2007Nissan worldwideCommercial results of the AllianceQualityEngineering, Research and DevelopmentA global production and supply chain systemPurchasingSalesSales financingFormula 1Renault Sport TechnologiesOther investments and partnershipsHuman resourcesEnvironmentSocial responsibilitySales performanceFinancial performance and outlook for 7478
2007in pictures2007 saw sales growth resume under the impetus of six new product launches.International expansion quickened and we launched the Renault eco2 signaturefor our most ecological and economical vehicles.New Laguna in the spotlightin FrankfurtUnveiled at the Frankfurt Auto Show inSeptember 2007, New Laguna made its firstappearance in European sales networks inmid-October. Aiming for a top place in itscategory in terms of product and servicequality, New Laguna reflects the combinedcommitment of all sections of the business- from engineering and quality to purchasingand manufacturing. Produced at ourSandouville plant in Normandy, it achievedtop ratings for quality and reliability as soonas it rolled off the assembly lines.Rolling out a new brand identityBuilding strength on international marketsIn September, Renault's new brand identity made its public debut at the Frankfurt AutomobileShow. Building on Renault's rich heritage and culture, the new identity backs up the Group’snew market ambitions, positioning it as a human, reliable and enthusiastic brand.In 2007, Renault reinforced its international presence, bolstering positions in countrieswhere it was already represented and continuing its drive to build new positions on highgrowth markets. On the production side, capacity was expanded in Russia and a large newproject was launched in Chennai, India together with Nissan. On September 1, the RenaultNissan Alliance signed a memorandum of understanding with the Kingdom of Morocco forthe construction of a manufacturing site near Tangiers, and in December it entered intoa new industrial partnership with the leading Russian automaker AvtoVAZ. Renault alsorestructured its sales network, opening subsidiaries in Ireland on November 1, 2007 andin Scandinavia on January 1, 2008.2,484,472Renault vehicles sold worldwide in 2007.
QM5 launch in South KoreaLaunched in November 2007 in South Korea, QM5 is the first cross-over vehicle designedby Renault, developed by Nissan and produced by Renault Samsung Motors (RSM). Basedon the Koleos concept car, it will also be the first car produced by RSM and marketed byRenault, which will start selling it in spring 2008. Production at the Pusan plant in SouthKorea was the logical choice in view of local demand, with the Korean market expected totake up nearly half of the cars produced.Renault eco2 spells out the messageNew Twingo launchIn May, Renault launched the eco2 signature to distinguish the most economical andenvironment-friendly cars in its lineup. To qualify, vehicles must be manufactured on ISO14001-certified sites, emit less than 140g of C02 per kilometer or run on biofuel. Theymust also be 95% recoverable and contain at least 5% of recycled plastic. In November, theBibendum Challenge in Shanghai was the occasion for Renault to unveil its Logan Renaulteco2 concept car, which meets all three criteria. The car offers exceptional fuel consumptionof just 2.72 liters per 100km, holding C02 emissions to only 71g per kilometer.On the market in France since mid-June2007, New Twingo is the latest addition toRenault's lineup of compacts. Produced atthe Nova Mesto site in Slovenia, New Twingocombines connected style with feisty performance and practical design, giving Renaulta new edge in the small-car segment.More information ATWWW.renault.com
from the President & CEOMidway through Renault Commitment 2009, we are inline with the planned trajectory.All indicators point to significantly higher quality in our offering of products and services.Despite a challenging environment, we achieved a 3.3% operating margin in 2007,exceeding the 3% milestone we had set. In the past two years, the entire companyjoined forces to lay the groundwork for future growth: we overhauled our product line-up,developed new technologies and expanded our geographical footprint on booming markets.We are now ready and able to take the offensive.During these two years, we focused on meeting the three objectives of Renault Commitment2009, but our ambitions naturally extend beyond 2009. Our aim is not to hit a temporarypeak at this date, but to position Renault durably on the path of strong and profitable growth.We initiated a number of high-potential projects with our eye on the longer-term horizon.Given that the long-term outlook for mature markets is at best flat, the future growth ofthe auto industry depends largely on positioning in high-growth markets.This explains our decision to build two new Alliance plants to expand our global capacities.The first is in Chennai, India and the second in the port of Tangiers in Morocco. Weaim to make these two plants, which will each have an annual production capacity of400,000 vehicles, the most competitive in our production system.Similarly, we were able to win selection from among a number of candidates as the exclusivepartner of AvtoVAZ, Russia’s largest manufacturer with production capacity currentlyestimated at over one million units a year. This partnership represents an exceptionalopportunity for Renault. By reviving the Lada brand, the Alliance will become the clearleader in the Russian market, which will soon be the largest in Europe.We are also preparing for the future with two other projects designed to extend the limitsof mobility and thus of our industry.The goal today is no longer to simply reduce the negative environmental impact of cars,but to eliminate it. We are currently developing vehicles capable of running on renewableenergy without any impact at all on the environment. Within three years, we will be ableto mass market electrical vehicles with zero carbon dioxide, zero particle and zero noiseemissions without sacrificing performance, autonomy or driving pleasure. You will see thefirst concrete example on the Israeli market in 2011.Alongside “zero emission” mobility, we are developing mobility for all. This is the aim ofthe 2,500 vehicle we want to develop together with Nissan and the Indian manufacturerBajaj. Designed for emerging markets, this car is made primarily for people who have notyet had access to individual transportation.2006 and 2007 were years in which we invested in the success, not just of this plan, butalso of all those that will follow. From 2008 on, we will start to reap the rewards of all thehard work the men and women of Renault have put in over the past two years. We haveconfirmed our milestone of a 4.5% operating margin in 2008 and expect to increase oursales volumes by over 10%. This growth is unprecedented in the history of Renault andit will be fueled by a product offensive that is unprecedented as well: after the six newproducts launched in 2007, nine new vehicles will be rolled-out in 2008.As shareholders, you have a direct interest in our progress. We have undertaken to raisethe dividend to 4.5 per share by 2009. This year, the Board of Directors will ask theAnnual General Meeting to raise the dividend from 3.1 in 2007 to 3.8 in 2008, basedon 2007 earnings.You can count on the motivation of the men and women of Renault, who have all ralliedaround Renault Commitment 2009, to make this an innovative, global company workingwithin the Alliance to deliver a strong and lasting performance.
Renault Commitment 2009Halfway through the business plan, quality ison target, our profitability milestone has beensurpassed and our product offensive is underway.February 14, 2008: Carlos Ghosn announces 2007 results.2007, THE YEAR OF QUALITYQuality, the first of Renault’s commitments,was the focus of concerted efforts throughout the company. The quality of productsand services has improved significantly,reaching the highest levels ever attainedby Renault.This is borne out by all our indicators: The number of end-of-assembly-linedefects has been divided by six in thepast two years. The number of incidents reported duringthe first three months on the road wasreduced by half from 2005 to 2007. The quality of service has improved considerably as well. The share of customersworldwide who say they are “fully satisfied” with sales and after-sales servicesrose from 72.1% in January 2006 to78.4% at the end of 2007. This increaserepresents 700,000 more customers whoare fully satisfied.All processes are now in place to ensure thatthis progress spreads to the entire line-up,all over the world, to make quality one ofRenault’s lasting assets. Some vehicles already rank among thetop 3 of their segment. For example, theGerman Automobile Club has rankedScénic, Modus and Clio 3 among the bestthree cars of their category. In India, Loganwas named the best in its category by twoindependent organizations. All indicators show that New Laguna iswell positioned to become one of the topthree in its segment in terms of quality.2007 Renault Annual ReportA New Laguna undergoes quality controlat the Sandouville factory in Normandy (France).5
Renault Commitment 2009PROFITABILITY:RENAULTOUTPERFORMSTHE OPERATINGMARGIN MILESTONESET FOR 2007Profitability is the second of Renault’s commitments. Despite a challenging environment for the entire automotive industry, theGroup achieved the operating margin milestones set for 2006 and 2007, with 3.3% in2007 exceeding the 3% forecast.Improved profitability is due mainly to effortsby all business functions to improve productivity and cut costs in the past two years.In 2006 and 2007: Purchasing costs were reduced by 9.1%,excluding the impact of raw materialprices. Productivity gains at the plants helped cutmanufacturing costs by 5.4%. Logistics costs fell by 7.3%. General and administrative expensesdeclined 5% despite the development ofour international operations. Distribution costs rose by 3.1%. Investment costs were reduced by 35%,enabling Renault to execute this period ofintensive development with no significantincrease in spending.PAVING THE WAY FOR STRONG, SUSTAINABLE GROWTHGrowth is Renault’s third commitment. Thefirst part of the business plan was devoted tolaying the groundwork for strong and sustainable growth. Renault overhauled its productline-up, developed new technologies andexpanded its geographical footprint.Never before has Renault developed so manynew products, at such high quality levels andduring such a short period as in the past twoyears. The number of new vehicles in development doubled between 2005 and 2007. Theresulting rapid pace of product launches willfuel growth thanks to a rejuvenated productrange that extends into new segments andis better tailored to the requirements of allcustomers, be they French, German, Brazilian,Indian, Russian or Korean.Alongside these products, we have developed new technologies designed to reconcileperformance, safety and preservation of theenvironment.We thus added new engines to our powertrainrange, now benchmarks in their segments interms of fuel efficiency — the case of the2.0-liter dCi, the 1.2-liter 100hp turbo andthe dCi 110hp, which enables New Laguna toemit just 130g of carbon dioxide per kilometer.Optimization of existing engines, means that48% of Renault vehicles sold in Europe in2007 emit less than 140 grams of carbondioxide per kilometer.Lastly, Renault retained its leadership in safetywith nine cars awarded the maximum 5-starrating in the Euro-NCAP tests.The first half of the plan also saw Renaultexpand existing operations in high-growthmarkets, including Colombia, Russia, Turkeyand Romania, and enter new markets in Indiaand Iran. Between the end of 2005 and theend of 2007, total production capacity, including that installed at its partners, increased by600,000 vehicles a year.Thanks to two years of dedicated efforts,Renault is well equipped to meet the challenges of Renault Commitment 2009. Therehas been a breakthrough in quality, our coststructure is sound and we have laid the foundations for future growth.This policy will be pursued with the samefocus in 2008 and 2009.For the first time since the launch of thebusiness plan, all regions reported a positiveoperating margin. By reinforcing its international management, for example withthe Regional Management Committees,Renault increased the number of its profitcenters and reduced its dependency on theEuropean market.Tune-up at the end of the Renault Logan assemblyline at the Avtoframos factory in Russia.62007 Renault Annual Report
OUTLOOK FOR 20082006/2008 PRODUCT offensiveRenault has confirmed its milestone of a4.5% operating margin in 2008 and theplanned dividend growth — another steptowards our commitment to a 6% operatingmargin in 2009.2007 was the year of quality for Renault,and 2008 will be the year of growth. TheGroup expects to increase its sales volumesby over 10%.This growth will be fueled by a productoffensive of unprecedented magnitude, aswe reap the full-year benefits of the vehiclesrolled out in 2007: Logan Van, New Twingo,New Laguna sedan and estate, QM5 andSandero.The product offensive initiated in 2007 willintensify this year with nine vehicles makingtheir first appearances worldwide.Four of these are renewals that will helprejuvenate the range: Kangoo PC and Kangoo LCV, whichsold over 2 million units in their firstgeneration Mégane hatch, the core of our rangeand a product designed for internationalmarkets — a sedan that will be thesuccessor to Clio Symbol.We will also launch five products, entirelynew in our line-up, positioning Renault inhigh-growth segments: Grand Modus and Clio Grand Tour. Bothmodels were well received by the market in early 2008. A new model derived from the Loganplatform: Logan pick-up. An LCV specifically designed for urbanuse: New Kangoo Express Compact. And finally, Laguna coupe, equipped withthe new V6 dCi engine and the 4-wheelactive drive chassis.Including products rolled out in 2007 anddue to arrive on certain new markets in2008, there will be 13 product events inFrance: seven new vehicle launches and themarket roll-out of Laguna estate, Koleos andSandero. We will also introduce three facelifts for existing vehicles (Modus phase II andthe sports versions of Twingo and Laguna).There will be 14 launches in the Europeregion, 12 in the Euromed region, six in theAmericas and 11 in Asia-Africa.Carlos Ghosn unveils Renault Koleos at the presentationof financial results on February 14, 2008.2007 Renault Annual Report7
Corporate governanceBoard of Directors at December 31, 2007Louis SchweitzerAlain ChampigneuxDominique de La GaranderieFranck RiboudChairman of the BoardChairman of the Appointments and GovernanceCommitteeAge 65Number of shares: 283,845and 5,115 ESOP unitsDate of first term: May 1992Current term expires: 2009Document Manager, Quality DepartmentDirector elected by employeesMember of the Accounts and Audit CommitteeAge 54Number of shares: 694 ESOP unitsDate of first term: November 2002Current term expires: 2008Attorney, former Chair of the Paris Bar AssociationIndependent DirectorMember of the Accounts and Audit Committee andof the Appointments and Governance CommitteeAge 64Number of shares: 150Date of first term: February 2003Current term expires: 2009Chairman and Chief Executive Officer, Danone GroupIndependent DirectorChairman of the Remuneration CommitteeAge 52Number of shares: 331Date of first term: December 2000Current term expires: 2010Carlos GhosnSenior Advisor to Union de Banques SuissesIndependent DirectorMember of the Remuneration CommitteeAge 66Number of shares: 1,000Date of first term: July 1996Current term expires: 2008Philippe LagayetteConseiller Référendaire to the Cour des ComptesDirector of Shareholdings at APE (Agence desParticipations de l’Etat),French Ministry for the Economy, Finance andIndustryMember of the Accounts and Audit CommitteeAge 38Date of first term: February 2007Current term expires: 2011President and CEOPresident and CEO, Nissan Motor Co., Ltd.President of the Alliance Board and Renault Nissan b.v.Age 53Number of shares: 205,200Date of first term: April 2002Current term expires: 2010Yves AudvardRenault Advanced Process Design EngineerDirector elected by employeesMember of the International Strategy CommitteeAge 56Number of shares: 6 and 123 ESOP unitsDate of first term: November 2002Current term expires: November 2008Michel BarbierRenault Working Conditions TechnicianDirector elected by employeesMember of the Internati
In September, Renault's new brand identity made its public debut at the Frankfurt Automobile Show. Building on Renault's rich heritage and culture, the new identity backs up the Group’s new market ambitions, positioning it as a human, reliable and enthusiastic brand. 2,484,472 renault veHicles sold worldwide in 2007. 2007
witnessed Renault winning its 10th Constructor's Championship in the last 20 years. In India, Renault redefined the sedan segment with the Renault Fluence, urged SUV lovers to indulge with the Renault Koleos and rejuvenated the compact category with Renault Pulse. Now it's time to welcome the new Renault Duster. A CENTURY OF RENAULT
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Renault and Nissan, while Renault and Nissan each bought a 1.55% stake in Daimler. In 2013, Renault formed Dongfeng Renault Automotive Company, a 50:50 JV with Chinese car maker Dongfeng Motor. As of 31 December 2014, Renault's vehicles were sold in 125 countries in Europe, the Americas, Asia Pacific, Africa, the Middle East, India and Eurasia.
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J. Chil. Chem. Soc., 59, N 4 (2014) 2747 EXPERIMENTAL ACTIVITIES IN THE LABORATORY OF ANALYTICAL CHEMISTRY UNDER AN INQUIRY APPROACH HELEN ARIAS 1, LEONTINA LAZO1*, FRANCISCO CAÑAS2 1Intituto de Química, Facultad de Ciencias, Pontificia Universidad Católica de Valparaíso, Avenida Universidad 330, Curauma, Valparaíso, Chile. 2Universidad Andres Bello, Departamento de Química, Facultad de .
