Groupe Renault - 2019 Universal Registration Document

04

CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS

At December 31, 2019 the AVTOVAZ group’s loans and borrowings are not guaranteed (at December 31, 2018, €357 million of loans and borrowings were guaranteed by €86 million of property, plant and equipment, €19 million of finished goods and 100% of the shares of AO Lada-Servis and AO ZAK). Changes in debts of the Sales Financing segment In 2019, RCI Banque group issued new bonds totalling €3,869 million and maturing between 2019 and 2026, and redeemed bonds for a total of €4,034 million. RCI Banque also undertook an €850 million issue on the Tier 2 callable subordinated bank debt market. Savings deposits collected rose by €1,848 million in 2019 (€883 million of sight deposits and €965 million of term deposits) to €17,711 million (€13,003 million of sight deposits and €4,708 million of term deposits), and are classified as other interest-bearing borrowings. These savings are collected in Germany, Austria, Brazil, France and the United Kingdom.

maturities of over one year and were unused at December 31, 2019 (and at December 31, 2018). Also, at December 31, 2019, the Sales Financing segment’s confirmed credit lines opened in several currencies with banks amounted to €4,847 million (€4,820 at December 31, 2018). These credit lines were drawn to the extent of €13 million at December 31, 2019 (€26 million at December 31, 2018). The contractual documentation for financial liabilities and confirmed credit lines contains no clause that could affect the continued supply of credit in the event of any change in Renault’s credit rating or financial ratio compliance. Breakdown by maturity 23 – D – For financial liabilities including derivatives, contractual flows are similar to the expected flows and correspond to the amounts to be paid. For floating-rate financial instruments, interest is calculated using interest rates as at December 31, 2019. No contractual flows are reported for Renault and Diac redeemable shares as they have no fixed redemption date.

Credit lines

At December 31, 2019, Renault SA’s confirmed credit lines opened with banks amounted to the equivalent of €3,480 million at December 31, 2019 as at December 31, 2018. These credit lines have

FINANCIAL LIABILITIES OF THE AUTOMOTIVE SEGMENTS

December 31, 2019

Balance sheet value

Total contractual flows

<1 yr 1 to 2 yrs 2 to 3 yrs 3 to 4 yrs 4 to 5 yrs >5 yrs

(€ million)

Bonds issued by Renault SA (by issue date) 2014

500

500

-

500

-

-

- -

-

2017 2018 2019

2,295 1,921 1,557

2,295 1,921 1,557

577

-

218

750 150

750 750

- -

321

- -

700

-

-

57

1,500

Bonds issued by Renault Do Brasil (by issue date) 2016

6 5

-

-

- -

- -

- -

- -

- -

Accrued interest, expenses and premiums

36

36

TOTAL BONDS

6,284

6,309

613 648 229 123 285

821

218

900

757 3,000

Other debts represented by a certificate Borrowings from credit institutions Lease liabilities in application of IFRS 16  (1) (2) Other interest-bearing borrowings TOTAL OTHER FINANCIAL LIABILITIES

648 982 723 610

648 569 776 363

-

-

-

-

- -

75

25

50 78 15

190

117

104

70 10

284

35

18

-

2,963

2,356 1,285

227

147

143

270

284

Future interest on bonds and other financial liabilities

-

200

39

73

57

14

6

11

Redeemable shares

281 268

-

-

-

-

-

-

- -

Derivatives on financing operations

264

215

21

14

8

6

TOTAL FINANCIAL LIABILITIES OF THE AUTOMOTIVE (EXCLUDING AVTOVAZ) SEGMENT

9,796

9,129 2,152 1,142

436 1,065 1,039 3,295

Rouble-denominated bank loans

878

878

71 20

109

9

367

322

- -

Rouble-denominated interest-free promissory notes Lease liabilities in application of IFRS 16  (1) (2) Financial liabilities of Alliance Rostec Auto b.v.

20 16

20 56

-

-

-

-

4 7

3

3

2

2

42

7

7

-

-

-

-

-

Less current loans and borrowings from Renault s.a.s. and intra-Group cash of the AVTOVAZ segment

(10) 911

(10) 951

(10)

-

-

-

-

-

TOTAL FINANCIAL LIABILITIES OF THE AVTOVAZ SEGMENT

92

112

12

369

324

42

The effects of first application of IFRS 16 “Leases” under the simplified retrospective approach are presented in note 2-A. (1) The potential future cash outflows caused by the exercise of extension options and contracts already signed which take effect in 2020 amount to €80 million. (2)

396 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2019

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