* Renault exceeded
its 2011-2013 objective and delivered € 2.5 billion in cumulative free cash
flow. * The group has set new ambitious yet realistic targets to be reached by
the end of the plan “Drive the Change” to be measured in 2017: - To generate 50 billion[1]euros in
consolidated turnover - To reach an operating margin greater than 5%
of turnover with a positive free cash flow each year
“Our strategy laid
out in the first part of our plan Drive the Change has delivered results.
Thanks to these achievements, the Renault group is well prepared to deploy a
second ambitious, yet realistic phase of the plan”, said Carlos Ghosn, Chairman and CEO of Renault.
2011 – 2013
Achievements
* Success
of new Renault and Dacia models
o The renewal of the Renault model line-up is off to a
strong start: New Clio is number 1 in France and number 3 in Europe. Captur is
the leading-selling cross-over in France and segment leader in Europe.
Pioneering in zero-emission mobility, Renault delivered its commitment to
launch a comprehensive range of electric vehicles.
* A better balanced
geographic footprint
o The Renault group increased its market share outside
Europe. The mix of non-European sales increased from 38% in 2010 to 50% in
2013. Brazil and Russia became respectively the second and third largest
markets for the company. Led by Duster, the company’s most-sold vehicle in
2013, the unique M0 range has been the driving force behind the strong growth
in emerging markets.
2014 – 2016 action
plans
* A sustained renewal and expansion of the product line-up
o The Renault group is going to accelerate the renewal and
expansion of its product line-up starting in the fall of 2014 with the launch
of an all-new Twingo and Trafic van. These will be followed by the successors
of Espace, Megane, Scenic and a new D sedan which will all share the new
alliance 3 million CMF C-D platform.
o Simultaneously, the group is going to extend its market
coverage with a complete line-up of cross-over vehicles, an A-entry vehicle
designed for India and South America as well as new pick-up trucks for emerging
markets.
* International
expansion and renewed growth in Europe
o Following a successful first phase, the group is aiming at
capturing more than 8% market share in Brazil and Russia and 5% in India.
o China will become a top priority in the coming years with
the construction of a new plant in Wuhan with an initial capacity of 150,000
units, designed to produce C and D segment cross-overs.
o In Europe, Renault is aiming at recapturing second place
among the mass-market brands with a renewed line-up of connected, user-friendly
and environmentally responsible vehicles. At the same time, the Dacia brand
will sustain its undisputed leadership in its category.
* Improved
competitiveness
o The Renault group will enjoy the benefits of scale and
improved competitiveness as a result of sharing alliance platforms and modules
(CMF) on which more than 80% of future vehicles will be based. Standardized
modules will account for two thirds of the value of future vehicles, up from
one third today.
o The localization of parts and components will increase in
order to make better use of the company’s global manufacturing footprint and
contain costs.
o During the period, the company will also benefit from the
effects of the competitiveness plans signed in France and Spain as well as
manufacturing vehicles for partners.
o By completion of the plan, the group will reach a capacity
utilization rate of 100% in Europe (based on 2 shifts/day standard definition).
* Alliance synergies
o Increase synergies from the Alliance will contribute to
improving Renault’s profitability. The convergence projects recently announced
in purchasing, engineering, manufacturing and supply chain, and human resources
will generate a minimum of € 4.3 billion by the end of 2016.
* Cost containment
o The strategy of sharing costs across the Alliance and with
partners will allow Renault to sustain a high level of upstream development,
while maintaining a ratio of R&D and CAPEX below 9% of group turnover.
Action plans to deliver two critical objectives
By the end of the plan, the Renault group aims to deliver
two critical objectives [2]:
* Deliver € 50 billion[1] in consolidated group turnover at
the current scope of consolidation. Group turnover includes sales of vehicles
and parts, associated services and business with partners.
* Deliver a sustained level of profitability by achieving an
operating profit margin of at least 5% of group turnover, while achieving a
positive free cash flow each year.
[1]Based on bank consensus FX rates at the beginning of
2014.
[2] Measured in 2017, first year with Plan full effect.
Without AVTOVAZ consolidation.
Nessun commento:
Posta un commento