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

RENAULT SA ANNUAL FINANCIAL STATEMENTS

Details of the tax charge recognized on the income statement are as follows:

Taxes

Net income

Pre-tax income

Theoretical

Netting Credit generated Tax credit Net tax due Theoretical

As booked

(€ million)

Current income subject to normal rate

302

(15)

15

0 0

317

302

Extraordinary items Tax consolidation

1

1

1

(85)

85

Impairment Other

5

(5)

TOTAL

303

(15)

15

(80)

318

383

Details of Renault SA’s deferred tax position are as follows:

04

2019

2018

Variation

Assets (1)

Liabilities  (2)

Assets  (1)

Liabilities  (2)

Assets

Liabilities

(€ million)

Temporarily non-deductible expenses Provisions for risks and liabilities Temporarily non-taxable income

1

(1)

1

(1)

Expenses deducted (or taxed income) not yet recognized for accounting purposes

6 6

55 55

13 14

39 40

(7) (8)

16 15

TOTAL

i.e. future tax credit. (1) i.e. future tax charge. (2)

Investments and financial assets

4.4.2.8 Changes during the year were as follows:

At start of year Change over the year

At year-end

(€ million)

Investment in Nissan Motor Co. Ltd.

6,217

6,217

Investment in RNBV Investment in DAIMLER Investment in DRAC

12

12

584 282

584 282

TOTAL BEFORE PROVISIONS

7,095

0

7,095 (282) 6,813

Provision for impairment of other investments and financial assets

(22)

(260) (260)

TOTAL, NET

7,073

The impairment recognized relates to Dongfeng Renault Automotive Company (DRAC) (see Note 4.4.2.3). When the Renault-Nissan Alliance and Daimler AG signed a strategic cooperation agreement in 2010, Renault SA acquired 16,448,378 shares in Daimler AG or 1.55% of its capital. These shares are listed on the Frankfurt stock market and have a nominal value of €2.88. At December 31, 2019, their stock market price was €49.37 per share, giving a total of €812 million (€45.91 per share and a total of €755 million at December 31, 2018).

In 1999, Renault SA acquired an investment in Nissan Motor Co. Ltd. At December 31, 2019, this investment comprised 1,831,837,027 shares or 43.40% of the capital of Nissan. These shares are listed on the Tokyo Stock Exchange and have a nominal value of ¥50. At December 31, 2019, their stock market price was ¥636 (€5.22) per share, giving a total of €9,562 million (¥800 (€6.99) per share and a total of €12,804 million at December 31, 2018).

Advances to subsidiaries and affiliates

4.4.2.9 Changes during the year were as follows: (€ million)

At start of year

Increases

Decreases

At year-end

Dividends receivable*

9

9

Loans

11,868 11,877

1,683 1,683

(820) (820)

12,731 12,740

TOTAL BEFORE PROVISIONS  (1)

Impairment provisions

0

0

0

0

TOTAL, NET

11,877

1,683

(820)

12,740

Of which current portion (less than one year). (1) Of which long-term portion (over 1 year).

857 11

728 12

20

11

Net of foreign exchange revaluations. *

429

GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2019