ag 2009 - js + tm + pp + cg pp v11 gb - renault · documents contained in the brochure :!...

MAY 6th, 20092009 MIXTE GENERAL MEETING

Carlos GHOSNPresident and CEO


EXECUTIVE COMMITTEE

Carlos GHOSNPresident & CEO

Odile DESFORGESEVP, Engineering and

Quality

Jérôme STOLLEVP, Sales & MarketingEurope Region Leader

Philippe KLEINEVP, Plan, Product planning

Programs

Katsumi NAKAMURAAsia-Africa Region Leader

Michel GORNETEVP, Manufacturing

and Logistics

Patrick PELATACOO

Thierry MOULONGUETEVP, CFO


ORDRE DU JOUR

Christian HUSSONSecrétaire de l’Assemblée


DOCUMENTS ON THE FLOOR OF THE MEETING

! Legal gazette, Bulletin des Annonces Légales Obligatoires,of 20 February 2009, in which notice of this General Meetingwas published

! Legal gazettes, Bulletin des Annonces Légales Obligatoires of 23 March 2009 and Le Journal des Petites Affiches of 23 March 2009, in which the notice of call to the meeting was published

! Legal gazettes, Bulletin des Annonces Légales Obligatoires of 15 April 2009 and Le Journal des Petites Affiches of 15 April 2009, in which the amended notice of call to the meeting was published

! Report on the company’s activity

! Annual financial statements for the company Renault SA



! Report by the Statutory Auditors on the company’s financial statements

! Report on regulated agreements concerning Renault s.a.s.

! Report by the Statutory Auditors on internal control procedures,and the report by the Chairman of the Board of Directors pertaining thereto

! Articles of Association in force

! List of registered shareholders in the form of a CD ROM

! Attendance sheet, currently being checked, which will be placed on the floor of the meeting very shortly, as well as the proxy powers of represented shareholders



Documents contained in the brochure :

! Presentation of the resolutions and their wording! CVs of the directors whose renewal and appointment are being proposed

to the General Meeting! Reports by the Statutory Auditors (on the consolidated financial

statements, the company’s financial statements, regulated agreements, equity loans, financial operations concerning the registered capital (12th, 13th, 14th, 15th, 16th and 20th resolutions)

! Special reports to the General Meeting on stock options and bonus share awards

! Report by the Board of Directors to the General Meeting deciding as Extraordinary General Meeting

! Description of the share buy-back programme to be authorised bythe General Meeting

! Table setting out the company’s results over the last five financial years


AGENDA OF SHAREHOLDERS’ GENERAL MEETING

As ordinary:! Approval of the consolidated financial statements for the 2008 financial year

(1st resolution)

! Approval of the Company’s financial statements for the 2008 financial year(2nd resolution)

! Appropriation of the results for 2008 (3rd résolution)

! Agreements referred to in the article L.225-38 of the Commercial code (4th resolution)

! Renewal of a director’s term office (5th resolution)

! Appointment of a director (6th resolution)

! Appointment of a director (7th resolution)

! Appointment of a director elected by the employee shareholders (8th resolution)

! Appointment of a director elected by the employee shareholders (9th resolution)

! Report by the statutory auditors on elements used to determine the remuneration of redeemable shares (10th resolution)

! Authorisation for the Company to trade in its own shares on the stock market(11th resolution)



As extraordinary:! Authorisation to cancel holdings of the Company’s own shares (12th resolution)

! Delegation of powers to the Board of directors in order to issue ordinary sharesand securities granting access to the registered capital, with maintenance of the shareholders’ preferential subscription right (13th resolution)

! Delegation of powers to the Board of Directors in order to issue ordinary sharesand securities granting acess to the registered capital, with exclusion of the shareholders’ preferential right (14th resolution)

! Delegation of powers of the Board of Directors in order to issue ordinary sharesand securities granting access to the share capital of another company, as remuneration for contributions in kind made to the Company in the form of sharesor securities granting access to share capital of another company (15th resolution)

! Global limitation of authorisations (16th resolution)



As extraordinary:! Delegation of powers to the Board of Directors to increase the Company’s capital

by incorporating reserves or profits, share issue premiums or contribution issue premiums (17th resolution)

! Capital increase by the issue of shares reserved to employees (20th resolution)

As ordinary:! Powers for formalities (21st resolution)


COMMERCIAL RESULTS

Jérôme STOLLEVP, Sales & Marketing


2008 COMMERCIAL RESULTS FOR RENAULT GROUP

Thousands of units PC+LCV

Global

20082007

2,485 2,382

- 4.1%

- 7.2%Europe

20082007

1,624 1,507

Outside Europe+ 1.7%

+ 4.1%

2007 2008255245

Americas

424 40520082007

- 4.6%EuroMed

20082007192 215

+ 12.3%Asia Africa


SUCCESS OF THE ENTRY RANGE

0

50

100

150

200

250

300

350

400

450

500

550

2004 2005 2006 2007 2008

Thousands of units

Over 500,000 sales

Logan berline

Logan MCV

Logan van

Logan pick up

Sandero


2009 OUTLOOK

40

44

48

52

56

60

64

68

72 World TIV (million of units)

64

68

- 19%

55

19901991

19921993

19941995

19961997

19981999

20002001

20022003

20042005

20062007

2009 forecast

20082009


UNCERTAIN CAR MARKETS IN EUROPE

-50%

-40%

-30%

-20%

-10%

0%

10%

20%

Europe France Germany Italy GB Spain

H1 2008 Q3 2008 Q4 2008 Q1 2009


UNCERTAIN CAR MARKETS OUTSIDE EUROPE

H1 2008 Q3 2008 Q4 2008 Q1 2009

-80%

-60%

-40%

-20%

0%

20%

40%

Romania Russia Turkey SouthKorea

India Brazil Argentina


2009: ONGOING PRODUCT OFFENSIVE

MéganeRenault Sport

Trafic ph3New Master SM3

Scénic& Grand Scénic

Clio 3 phase 2

Kangoo be bop

MéganeCoupe

1st HALF

2nd HALF

SM5

Mégane Estate


MÉGANE COUPE


KANGOO BE-BOP


NEW CLIO RANGE


NEW GRAND SCENIC


NEW MEGANE ESTATE


NEW MEGANE: SUCCESSFUL LAUNCH

123

567891011121314

4

2008

20094

12


2009 COMMERCIAL PERSPECTIVE

! Uncertain markets

! Full year for: New Mégane, Sandero et Symbol

! Product offensive ongoing in 2009:Clio 3 ph2, Mégane Estate, Scénic, Master…

" Improvement of market share


- 22%Europe

20092008

418326

Q1 2009 COMMERCIAL RESULTS

Thousands of units (PC + LCV)

Global

20092008

639 496

- 22.4%

- 17.8%

2008 20095567

Americas

66 5120092008

- 23.8%EuroMed

2009200859 47

- 20.2%Asia Africa

incl. France - 11.3%

20092008

28 17

- 40.3%Eurasia

Outside Europe- 23.1%


ORDERBANK: VEHICLES NOT YET REGISTERED

Europe Orderbank PC+LCV

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2009

2008

2007


Thierry MOULONGUETExecutive Vice PresidentChief Financial Officer

FINANCIAL RESULTS


FY 2008 FINANCIAL RESULTS: HIGHLIGHTS

Group revenues €37.8 bn

Group operating margin €212 m

Net income €599 m

Automobile net financial debt €7.9 bn


Q4 2008: A RAPID & BRUTAL DOWNTURN

+ 4.0%

- 7.0%

- 45.0%

+ 4.2%

+ 0.4%

- 2.2%

+ 6.5%

+ 2.5%

- 3.5%

- 21.8%

Production

Auto Revenues

Registrations

Q1 2008

Q2 2008 Q3 2008 Q4 2008

- 30.0%Change vs. 2007

- 6.0%


A YEAR OF TWO HALVES

+ 36544176Financial result

599

437

- 329

0.6%

212

37,791

2008

- 2,1352,734Net income

- 1,2381,675Associated companies

- 213- 116Other operating income& expenses

- 2.7pt3.3%In % of revenues

- 1,1421,354Operating margin

- 7.0% (1)40,682Revenues

Change 2008/20072007

(million euros)

(1) On a consistent basis, FY2007 = €40,620 m


Cash Flow

Dividendspaid

+ 3,061

- 2,704

+ 546

Fair value

- 5,856

- 1,636Yen

impact+ Others

- 1,076

Net tangible & intangible

investments incl. R&D

ChangeIn WCR - 3,385

Investmentin AvtoVAZ

- 662

Increasein net debt

2008 AUTOMOBILE NET FINANCIAL DEBT AT €7.944bn

- 3,028Free cash flow

+ 688Dividends receivedfrom associates

(million euros)


AUTOMOBILE

RCI BANQUE

2009 FUNDING - SYNTHESIS

Liquidity reserves

= €3.4 bn

Remboursements 2009

Total = €4.8 bn

2009 Fundingalready obtained

2009 reimbursments€3.5 bn

Mid termfunding needs

€3 bn

Liquidity reserves

Total = €6.5 bn

2009 mid term funding= €3 bn

(at Dec 31st 2008)

(at Dec 31st 2008)

French State = €3bnEIB= €0.4bn

SFEF funding = €1 bnAdditional securitization = €1bnCapital market / bank funding?

Of which…

Cap. Market funding renewals= €3 bnCredit lines rebuilt= €0.5bn


EVOLUTION OF AUTOMOBILE DIVIDION REVENUES IN Q1’08

Volume Mix/Price Parity Others

- 31.8%

Contribution to global evolution

€9,727bn

€6,634bn


EVOLUTION OF RENAULT SHARE PRICE SINCE 2008 ANNUAL GENERAL MEETING (Base 100)

- 59.2%

- 35.2%

- 60.4%

- 21.5%

- 44.4%- 44.7%

0

30

60

90

120

29/04

/0814

/05/08

29/05

/0813

/06/08

28/06

/0813

/07/08

28/07

/0812

/08/08

27/08

/0811

/09/08

26/09

/0811

/10/08

26/10

/0810

/11/08

25/11

/0810

/12/08

25/12

/0809

/01/09

24/01

/0908

/02/09

23/02

/0910

/03/09

25/03

/0909

/04/09

05/05

/09

RenaultCAC 40

PSAFiat

BMWDaimler


EVOLUTION OF RENAULT SHARE SINCE BEGININGOF 2009 (Base 100)

0

30

60

90

120

150

180

210

31/12

/0808

/01/09

16/01

/0924

/01/09

01/02

/0909

/02/09

17/02

/0925

/02/09

05/03

/0913

/03/09

21/03

/0929

/03/09

06/04

/0914

/04/09

22/04

/0905

/05/09

RenaultCAC 40

PSAFiat

BMWDaimler

+ 45.7%+ 45.6%

+ 75.8%

+ 4.4%+ 0.2%

+ 27.2%


AN ACTIVE COMMUNICATION POLICY TOWARDS INDIVIDUAL SHAREHOLDERS

! Consultative committee

! Shareholders’ Club

! Individual shareholders’ meeting

! Dedicated web page on the Group site

! Online web function to manage Renault registered shares


Patrick PÉLATACOO

2008 OPERATIONAL RESULTS& 2009 ACTION PLAN


QUICKLY ADAPT RENAULT TO THE CRISIS

Q1 2008US & Spain markets fall

2009

2008SEPTEMBER 2008

Lehman Brothers bailoutFinancial Crisis

FEBRUARY 2009Specific Crisis Plan roll-outSocial Contract for Times of Crisis

NOV - DEC 2008Strong market downturn DECEMBER 2008

Specific Crisis Plan definition

JULY 20081st measures

JAN - FEB 2009Ongoing market degradation

Crisis chronology Renault’s answers


ACTION PLAN FOR 2009

AIMING FOR A POSITIVE FREE CASH FLOW

1. Maximize revenue

2. Reduce costs

3. Reduce investments

4. Lower working capital requirement


DEVELOP SALES ON MOST PROFITABLE CANALS

8 %

9 %

10 %

11 %

12 %

Total market share

Private market share

+ 1 pt market share

Renault + Dacia market share (Passenger Cars)Europe G5 (F, D, I, Sp, GB) – 12 month sliding average

2005 2006 2007 2008 2009




1. Maximize revenue

2. Reduce costs




REDUCE COSTS

- 20%Labor costs

- 15%R&DFixed costs

- 20%Markets

2007- 2009 Variation




1. Maximize revenue

2. Reduce costs




REDUCE INVESTMENTS

- 24%Investments

- 20%Labor costs

- 15%R&DFixed costs

- 20%Markets

2007- 2009 Variation




. Maximize revenue

2. Reduce costs




KEEP ON REDUCING INVENTORIES

5,9336,565

0

2,000

4,000

6,000

2009 Target

€ Million

5,900

5,266- €800m à - €1bn

Dec. 07 June 08 Dec. 082008 Target




1. Maximize revenue

2. Reduce costs




CAR-SCRAP BONUSES


STRATEGIC PERSPECTIVES

Carlos GHOSNPresident & CEO


QUALITYLaguna TOP 3 in its segment

PROFITABILITY6% operating profit margin in 2009

GROWTH+ 800,000 sales between 2005 & 2009

Goal: Be the most profitable and competitiveEuropean volume carmaker

RENAULT’S STRATEGY

Commitments:


QUALITY REVOLUTION


PRODUCT LINE-UP ENRICHMENT

Mégane Coupe Grand ScénicKangoo be bop

Symbol/Thalia

Grand Modus Clio Estate Kangoo Kangoo Express

Logan Pick-Up Laguna Coupé Mégane

Logan MCV

Logan Van Twingo KoléosSanderoLaguna

Laguna Estate

2008

2009

2006

2007

18 launches


TECHNOLOGICAL RANGE DEVELOPMENT

Renault, leader in Europe In 200860% of sales < 140 g CO2 / km

SAFETY ENVIRONMENT


SOURCES OF PROFITABILITY AND GROWTH

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Mégane LCV

Renault Group vehicles sold outside Europe

30%

27%

23%

19%17%17%17%

35%

37%

11%

Logan Family


STAKES

SHORT TERM

GOING THROUGH THE CRISIS

MID - LONG TERM

ADAPTING TO THE NEW AUTOMOTIVE ERA



! Long lasting high oilprices

! Increasingenvironmentalexpectations



! Emerging markets catch-up


ENTRY RANGE

5 derivatives based on the Logan Platform

LOGAN PICK UP

LOGAN VANLOGAN MCVLOGAN SEDAN

SANDERO


REINFORCE ALLIANCE SYNERGIES

1,5 billion Eurosof additional free cash

flow for Renault and Nissan in 2009


ORDRE DU JOUR

Christian HUSSONSecrétaire de l’Assemblée

MAY 6th, 20092009 MIXTE GENERAL MEETING 61

Summary of the diligences and conclusions described withinthe following reports*:! The consolidated financial statements! The annual financial statements! The regulated agreements and commitments with related

third parties! The elements used to determine the remuneration

of the redeemable shares! The resolutions in relation with:

! The capital reduction through the cancellation of purchased shares (12th resolution)! The proposed grants of power to the board of directors for various issues of shares

and securities, with the retention and /or cancellation of the shareholders’preferential subscription right (13th, 14th,15th and 16th resolutions )

! The proposed grant of powers to the Board of directors to decide on a capital increase reserved to employees (20th resolution)

* Booklet Joint General Meeting inserted into the briefcase given at the reception desk

STATUTORY AUDITORS’ REPORTS