Groupe Renault - 2020 Universal Registration Document

78 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2020 Find out more at group.renault.com 01 EARNINGS REPORT – 2020 GROUPE RENAULT Financial results 1.3.2 Summary (€ million) 2020 2019 Change Group revenues 43,474 55,537 -21.7% Operating profit -337 2,662 -2,999 Operating income -1,999 2,105 -4,104 Net financial income & expenses -482 -442 -40 Contribution from associated companies -5,145 -190 -4,955 Of which Nissan - 4,970 242 - 5,212 Net income -8,046 19 -8,065 Automotive operational free cash flow* -4,551 153 -4,704 Automotive net financial position -3,579 at 12/31/2020 +1,734 at 12/31/2019 -5,313 Shareholders’ equity 25,338 at 12/31/2020 35,331 at 12/31/2019 -9,993 Automotive operational free cash flow: cash flows after interest and tax (excluding dividends received from publicly listed companies) minus tangible and intangible * investments net of disposals + /- change in the working capital requirement. Comments on the financial results 1.3.2.1 Consolidated income statement 1.3.2.1.1 OPERATING SEGMENT CONTRIBUTION TO GROUP REVENUES (€ million) 2020 2019 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Automotive excl. AVTOVAZ 8,591 7,136 8,948 13,061 37,736 10,916 13,875 9,662 14,549 49,002 AVTOVAZ 701 388 663 829 2,581 767 790 791 782 3,130 Sales Financing 827 773 758 780 3,138 844 858 843 860 3,405 Mobility Services* 6 3 5 5 19 0 0 0 0 0 TOTAL 10,125 8,300 10,374 14,675 43,474 12,527 15,523 11,296 16,191 55,537 (%) Change Q1 Q2 Q3 Q4 Year Automotive excl. AVTOVAZ -21.3 -48.6 -7.4 -10.2 -23.0 AVTOVAZ -8.6 -50.9 -16.2 +6.0 -17.5 Sales Financing -2.0 -9.9 -10.1 -9.3 -7.8 Mobility Services* - - - - - TOTAL -19.2 -46.5 -8.2 -9.4 -21.7 New segment as of 01/01/2020. * Group revenues reached €43,474 million (-21.7%). At constant exchange rates, the decrease would have been -18.2%. Automotive excluding AVTOVAZ revenues stood at €37,736 million, down -23.0%. The volume effect was -19.2 points. It stemmed primarily from the health crisis and, to a lesser extent, from our commercial policy favoring profit over volume. Sales to partners declined by -5.1 points, also impacted by the health crisis and the Nissan ROGUE production discontinuation. Forex impact was negative -2.8 points, and related to the devaluation of the Argentinean peso, Brazilian real and Turkish lira and to a lesser extent to the Russian rubble. Price effect, up 3.9 points, came from a more ambitious price policy and measures to mitigate devaluations. Product mix impacted for 1.1 points thanks to the ZOE sales increase. Effect “others” weighed for -1 point, notably because of a lower contribution from spare parts activity, largely impacted by the confinement measures in H1.