Groupe Renault - 2020 Universal Registration Document

GROUPE RENAULT: A COMPANY THAT ACTS RESPONSIBLY

ANNUAL GENERAL MEETING OF RENAULT ON APRIL 23, 2021

FINANCIAL STATEMENTS

GROUPE RENAULT

CORPORATE GOVERNANCE

RENAULT AND ITS SHAREHOLDERS

ADDITIONAL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2020

Balance sheet value

Fair value of financial liabilities at amortized cost

Fair value level of financial liabilities at fair value

Fair value through profit and loss

Fair value through equity

FINANCIAL LIABILITIES OTHER LIABILITIES (€ million)

Amortized cost

Notes

Total 1,580 1,274 8,681 8,277

Tax liabilities (including current taxes due)

21 21 21 21 21 23 23 23 23 23 23 23 23

1,580 1,274 8,681 8,277

(1)

Social liabilities

(1)

Other liabilities and deferred income

(1)

Trade payables

(1)

Derivatives on financing operations of the Automotive segments

13

-

13

2

Renault redeemable shares Diac redeemable shares

245

245

298 (2)

14

14

1

04

Subordinated debts

876

876

876 (3)

Bonds

24,241

24,241

24,241 (3) 5,750 (3) 11,066 (3)

Other debts represented by a certificate Borrowings from credit institutions Lease liabilities in application of IFRS 16

5,750

5,750

11,066

11,066

694

694

694 (3)

Other interest-bearing and non-interest-bearing borrowings Derivatives on financing operations of the Automotive segments Derivatives on financing operations of the Sales Financing segment TOTAL FINANCIAL LIABILITIES AND OTHER LIABILITIES

21,488

21,488

21,488 (3)

23

436

436

-

2

23

84

12

72 85

2

84,719 84,172 The Group does not report the fair value of financial liabilities such as trade payables, tax liabilities and social liabilities, because their book value is a reasonable (1) approximation of their fair value. The fair value of Renault and Diac redeemable shares is identical to the stock market price. (2) The fair value of the Automotive segment’s financial liabilities and Sales Financing debts measured at amortized cost is essentially determined by discounting future cash (3) flows at rates offered to Renault at December 31, 2020 for loans with similar conditions and maturities. The rates offered to Renault result from observable market data such as zero-coupon interest rate curves and secondary market prices for bonds issued by the Group, and consequently this is a level 2 fair value. Changes in Level 3 financial instruments 24 - B - Level 3 financial instruments mainly correspond to investments in non-controlled entities (€46 million at December 31, 2020 and €66 million at December 31, 2019). In an exception to the general approach, these instruments are still carried at historical cost, but if this is inappropriate they are valued on the basis of the share of net equity or using a method based on non-observable data. Impact of financial instruments on net income 24 - C - 462

Financial instruments other than derivatives

Instruments measured at fair value through profit and loss

Instruments measured at fair value through equity

Instruments measured at amortized cost*

Total impact on net income

Derivatives

(€ million)

Operating margin

(1)

(1) 15 14

(169) (374) (544)

11

(160) (394) (554)

Net financial income (expenses)

(43) (44)

8

Impact on net income – Automotive segments

19 56 56 75

Operating margin

1 1

7 7

320 320

385 385

Impact on net income – Sales Financing segment TOTAL GAINS (LOSSES) WITH IMPACT ON NET INCOME Including financial liabilities subject to fair value hedges. *

(169)

(43)

21

(223)

For the Automotive segments, the impact of financial instruments on the operating margin mainly corresponds to foreign exchange gains and losses on operating transactions. Fair value hedges 24 - D -

December 31, 2020

December 31, 2019

(€ million)

Change in fair value of the hedging instrument Change in fair value of the hedged item Net impact on net income of fair value hedges

51

74

(49)

(80)

2

(6)

Hedge accounting methods are described in note 2-X.

399

GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2020