Groupe Renault - 2019 Universal Registration Document

04

RENAULT SA ANNUAL FINANCIAL STATEMENTS FINANCIAL STATEMENTS

The increases mainly concern the Research Tax Credit (€160 million). The decreases principally result from the assignment of €156 million of the 2017 Research Tax Credit receivable, €169 million of the 2018 Research Tax Credit receivable and €54 million of the 2018 CICE Tax Credit receivable. The major components of other assets are: deferred charges consisting of final payments and issuance expenses P on various loans;

redemption premiums on several long-term bonds (five to seven P years); unrealized foreign exchange losses corresponding to unrealized P losses on borrowings issued in yen (€37 million), which are covered by a provision, and a €133 million foreign exchange difference on repayment of borrowings issued in yen used for the Nissan hedge, which is recorded in a cash instrument valuation difference account.

At start of year

Increases

Decreases

At year-end

(€ million)

Other assets Deferred charges

13 12

4

(5) (3)

12 20

Bond redemption premiums

11 75 90

Unrealized foreign exchange losses

126 151 38 113

(32) (40)

170 202 177 25

TOTAL*

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

Shareholders’ equity 4.4.2.12 Changes in shareholders’ equity were as follows:

Balance at start of year

Allocation of 2017 net income

2018 Net income

Balance at year-end

Dividends

Other

(€ million)

Share capital Share premium

1,127 4,782

1,127 4,782 5,520

Equity valuation difference Legal and tax basis reserves

901 113

(381)

113

Retained earnings

8,173 1,726

1,726

(1,035)

8,864

Net income

(1,726)

383 383

383

TOTAL

21,822

(1,035)

(381)

20,789

Non-distributable reserves amounted to €5,693 million at December 31, 2019. The change in equity valuation difference mainly consists of the evolution of the value of Renault s.a.s. shares under the equity method for -€465 million, of Dacia shares valued under equity method for €80 million and of SOFASA shares valued under equity method for €4 million euros. Renault SA’s ownership structure was as follows at December 31, 2019:

Ownership structure

Voting rights

Number of shares held % of du capital

Number

%,

French State Employees

44,387,915 12,745,288 4,548 736 44,358,343 9,167,391 180,514,611 295,722,284

15.01% 4.31% 1.54% 15.00% 3.10% 61.04%

88,775,830 21 887,515

28.69% 7.07%

Treasury shares

Nissan

Daimler AG

15,741,908 183,002,578 309,407,831

5.09% 59.15%

Others TOTAL

100%

100%

The par value of the Renault SA share is €3.81.

432 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2019

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