Groupe Renault - 2019 Universal Registration Document

RENAULT: A RESPONSIBLE COMPANY

ANNUAL GENERAL MEETING OF RENAULT ON APRIL 24, 2020

FINANCIAL STATEMENTS

GROUPE RENAULT

CORPORATE GOVERNANCE

RENAULT AND ITS SHAREHOLDERS

ADDITIONAL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

AUTOMOTIVE RECEIVABLES NOTE 16 NET VALUE OF AUTOMOTIVE RECEIVABLES

December 31, 2019

December 31, 2018

(€ million)

Gross value

2,073 (807)

2,178 (770)

Impairment for incurred credit losses* Impairment for expected credit losses AUTOMOTIVE RECEIVABLES – NET VALUE

(8)

(9)

1,258

1,399

Including €(674) million related to Iran at December 31, 2019. *

These receivables do not include accounts receivable assigned to the Group’s sales financing companies or other non-Group entities when substantially all the risks and benefits associated with ownership of the receivables are transferred. The risk of dilution (essentially the risks of non-settlement after a commercial dispute) is retained by the Group, but is considered negligible. Receivables assigned in this way to Group sales financing companies are included in sales financing receivables, principally dealership receivables.

There is also no significant concentration of risks in the Automotive customer base (excluding AVTOAZ and with AVTOVAZ), and no single non-Group customer accounts for more than 10% of the total sales revenues of the Automotive segments. The management policy for credit risk is described in note 25. The maximum exposure to credit risk for Automotive (excluding AVTOVAZ) receivables is represented by the net book value of those receivables. The impairment model for Automotive receivables is presented in notes and 2-G. Details of fair value are given in note 24-A.

04

OTHER CURRENT AND NON-CURRENT ASSETS NOTE 17

December 31, 2019

December 31, 2018

Non-current

Current

Total

Non-current

Current

Total

(€ million)

Prepaid expenses

179 314

456

635

245 465

368

613

Tax receivables (excluding current taxes due) Tax receivables (on current taxes due)

1,884

2,198

1,712

2,177

21

86

107

19

111

130

Other receivables

605 105

1,555

2,160

603 153

1,566

2,169

Investments in controlled unconsolidated entities*

-

105

-

153

Derivatives on operating transactions of the Automotive segments Derivatives on financing transactions of the Sales Financing segment

- -

10

10

- -

10

10

177

177

123

123

TOTAL

1,224 1,361 (137)

4,168 4,370 (202)

5,392 5,731 (339)

1,485 1,613 (128)

3,890 4,082 (192)

5,375 5,695 (320)

Gross value Impairment

Investments of over €10 million in controlled unconsolidated entities concern iCabbi. *

thresholds applied by the Group. However, their contribution to the Group’s results, amounting to €(56) million in 2019 (€(29) million in 2018), is included in the cost of goods and services sold. The most significant entities will be fully consolidated in 2020. As these entities were transferred in December 2019 to the new company Renault MAI (see note 3-A), they will no longer be part of the Sales

Investments in controlled unconsolidated entities Controlled unconsolidated entities include Flit Tech (a taxi reservation platform), iCabbi (software development for taxis) and Marcel (a private car hire app). The financial statements of these entities are not fully consolidated at December 31, 2019 because their consolidation would not have a significant impact given the

financing segment from January 1, 2020.

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GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2019