Groupe Renault - 2019 Universal Registration Document

04

CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS

Changes in the investment in Nissan as shown in Renault’s statement of financial position 12 – C –

Share in net assets

Before neutralization

Neutralization proportional to Nissan’s investment in Renault  (1)

Net

Goodwill

Total

(€ million)

At December 31, 2018

20,822

(974)

19,848

735

20,583

2019 net income

242

242

242

Dividend distributed Translation adjustment

(579)

(579)

(579)

353

353

24

377

Other changes  (2)

(1)

(1)

(1)

At December 31, 2019 20,622 Nissan has held 44,358,000 Renault shares since 2002, corresponding to an investment of around 15%. The neutralization is based on Renault’s percentage holding in (1) Nissan. Other changes include the effect of Renault dividends received by Nissan, the change in actuarial gains and losses on pension obligations, the change in the financial (2) instruments revaluation reserve and the change in Nissan treasury shares. 20,837 (974) 19,863 759

Changes in Nissan equity restated for the purposes of the Renault consolidation 12 – D –

December 31, 2019

December 31, 2018

2019 net income

Translation adjustment

Other changes  (1)

Dividends

(¥ billion)

Shareholders’ equity – parent company shareholders’ share under Japanese GAAP Restatements for compliance with IFRS: Provision for pension and other long-term employee benefit obligations

5,338

42

(151)

(117)

(61)

5,051

(65) 712 (99)

(14)

1

51

(27) 752

Capitalization of development expenses Deferred taxes and other restatements Net assets restated for compliance with IFRS Restatements for Groupe Renault requirements  (2) Net assets restated for Groupe Renault requirements (€ million) Net assets restated for Groupe Renault requirements

41

(1)

4

(10)

(17) (27)

(122) 5,654

5,886

73 (6) 67

(151)

(127)

111

(10)

41

25 (2)

161

5,997

(161)

(86)

5,815

47,650 43.7% 20,822

554

(1,325)

808

-

47,687 43.7% 20,837

Renault’s percentage interest

Renault’s share (before neutralization effect described below)

242

(579)

353

(1)

Neutralization of Nissan’s investment in Renault  (3) Renault’s share in the net assets of Nissan

(974)

(974)

19,848 19,863 Other changes include the effect of Renault dividends received by Nissan, the change in actuarial gains and losses on pension obligations, the change in the financial (1) instruments revaluation reserve and the change in Nissan treasury shares. In 2019, they also include the impacts of the first application of IFRS 16 (€(16) million) and IFRIC 23 (€(37) million). Restatements for Groupe Renault requirements essentially correspond to revaluation of fixed assets by Renault for the acquisitions undertaken between 1999 and 2002, (2) and elimination of Nissan’s investment in Renault accounted for under the equity method. Nissan has held 44,358 thousand Renault shares in Renault since 2002, an ownership interest of about 15%. The neutralization is based on Renault’s percentage holding in (3) Nissan. Nissan net income under Japanese GAAP 12 – E – Since Nissan’s financial year ends at March 31, the Nissan net income included in the 2019 Renault consolidation is the sum of Nissan’s net income for the final quarter of its 2018 financial year and the first three quarters of its 2019 financial year. 242 (579) 353 (1)

January to March 2019

April to June 2019

July to September 2019 Second quarter of Nissan’s 2019 financial year

October to December 2019 Third quarter of Nissan’s 2019 financial year

January to December 2019

Fourth quarter of Nissan’s 2018 financial year

First quarter of Nissan’s 2019 financial year

Reference period for Renault’s 2019 consolidated financial statements

(¥ billion) (€ million)* (¥ billion) (€ million)* (¥ billion) (€ million)* (¥ billion) (€ million)*

(¥ billion)

(€ million)*

Net income – Parent company shareholders’ share

2

20

7

52

59

495

(26)

(217)

42

350

Converted at the average exchange rate for each quarter. *

376 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2019

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