GROUPE RENAULT: Quarterly information Q3 2020
PRESS RELEASE
#RenaultResults
Revenues of €10,374 million in the third
quarter of 2020
- Group revenues reached €10,374 million (-8.2%) in the
quarter. At constant exchange rates and
perimeter1, the decrease would have been
-3.2%.
- The Group sold 806,320 vehicles in the third quarter,
down 6.1%.
- September showed a positive momentum, particularly
marked in Europe, where Group’s sales were up 8% in a market up
3%.
- With ZOE sales up more than 150% in the third quarter,
the Group is on track to meet its CAFE2
targets for 2020.
- High level order book at September 30, 2020, up 60%
while inventories are at a low point after a 22% decline compared
to September 30, 2019.
Luca de Meo, CEO of Renault,
declared: "This third quarter highlights the change in our
commercial policy, which now focuses on profitability rather than
volumes. Our EV performance, our E-TECH hybrid models which have
been very well received, our liquidity reserves and our positive
spirit give us confidence in the Group's ability to start its
recovery."
Boulogne-Billancourt, 10/23/2020
COMMERCIAL RESULTS: THIRD QUARTER
HIGHLIGHTS
The third quarter of 2020 is marked by a
recovery in the trend of the global automobile market, with a 4.0%
drop compared with a 28% decline in the first half of the year.
Groupe Renault sold 806,320 vehicles during the
quarter, down 6.1% compared with the third quarter of 2019. The
Renault brand is strengthening its leadership in electric vehicles
and accelerating the launch of the E-TECH hybrid and plug-in hybrid
line-up in Europe. The Group stepped up its policy of price
discipline during the quarter.
In EuropeIn a European market
down 5.0%, the Group maintained its good momentum, with 405,223
units sold in the third quarter (-2.9%). Market share increased by
0.2 points to 10.3%.Sales of the Renault brand rose 0.8% thanks to
the success of Clio, Captur and ZOE, which are each leaders in
their respective categories. Sales of the Dacia brand were down
9.9% mainly due to a high comparison base in the third quarter of
2019.
Electric vehicles: ZOE leader in a
growing marketThe Renault brand is the European leader in
electric vehicles in a market up 107.2%. ZOE is the best-selling
electric vehicle, with sales up 157.4% to more than 27,000 units
over the quarter. The good level of orders taken for the hybrid and
full electric vehicles reinforce the Group's ability to meet its
CAFE3 targets for 2020.
Outside EuropeGroup sales were
down 9.0%, mainly impacted by a 50.9% drop of sales in
Brazil due to the strong fall of the market and a
change in the commercial policy favoring profitability over
volumes.
In Russia, Groupe Renault’s
second largest market, LADA was up 4.5% over the quarter in a
market up 3.7%. Groupe Renault is the leader with 28.8% market
share, driven by LADA Granta and LADA Vesta, the two best-selling
vehicles on the market.
In Turkey, in a market
experiencing a very strong recovery (+178.0%), Groupe Renault
increased its sales by 131.1% in the third quarter compared with
2019.
THIRD QUARTER REVENUES BY OPERATING
SECTOR
In the third quarter of 2020, Group
revenues reached €10,374 million (-8.2% compared to last
year). At constant exchange rates and perimeter4, Group revenues
would have decreased by 3.2%.
Automotive excluding AVTOVAZ
revenues amounted to €8,948 million, down 7.4%. This decrease is
mainly explained by a drop in volumes (-6.8 points), partly due to
inventory adjustments.Sales to partners dropped by 3.3 points
explained by lower vehicles and components production for our
partners.The currency effect was negative 4.2 points stemming from
the Group’s exposure to emerging markets. The price effect,
positive +5.5 points, came from increases to cover currency
devaluations and our pricing discipline policy. The product mix
effect was positive 1.1 points and mainly reflected the increase in
ZOE sales.The "other" effect had a positive contribution of 0.3
points.
AVTOVAZ contribution to Group
revenues amounted to €663 million in the quarter, down 16.2%, after
taking into account a negative exchange rate effect of €153
million. At constant exchange rates, AVTOVAZ contribution would
have been up 3.2%.
Mobility Services contributed
€5 million to third-quarter 2020 revenues.
Sales Financing (RCI Banque)
posted revenues of €758 million in the third quarter, down 10.1%
compared to 2019.
The Automotive activity at
September 30, 2020 held €15.2 billion of liquidity
reserves which include the €5 billion credit facility
agreement benefiting from the guarantee of the French State of
which €3 billion euros have been drawn down by the end of September
2020. Liquidity reserves were down €1.6 billion from June 30,
mainly due to the seasonality of working capital requirements and
debt repayments. Nonetheless, Groupe Renault should achieve a
positive Automotive operational free cash flow for the second half
of the year.
GROUPE RENAULT CONSOLIDATED
REVENUES
(€ million) |
2020 |
2019 |
Change2020/2019 |
Q1 |
|
|
|
Automotive excluding AVTOVAZ |
8,591 |
10,916 |
-21.3 % |
AVTOVAZ |
701 |
767 |
-8.6 % |
Mobility Services |
6 |
- |
+++ |
Sales Financing |
827 |
844 |
-2.0 % |
Total |
10,125 |
12,527 |
-19.2 % |
Q2 |
|
|
|
Automotive excluding AVTOVAZ |
7,136 |
13,875 |
-48.6 % |
AVTOVAZ |
388 |
790 |
-50.9 % |
Mobility Services |
3 |
- |
+++ |
Sales Financing |
773 |
858 |
-9.9 % |
Total |
8,300 |
15,523 |
-46.5 % |
Q3 |
|
|
|
Automotive excluding AVTOVAZ |
8,948 |
9,662 |
-7.4 % |
AVTOVAZ |
663 |
791 |
-16.2 % |
Mobility Services |
5 |
- |
+++ |
Sales Financing |
758 |
843 |
-10.1 % |
Total |
10,374 |
11,296 |
-8.2 % |
9 months YTD |
|
|
|
Automotive excluding AVTOVAZ |
24,675 |
34,453 |
-28.4 % |
AVTOVAZ |
1,752 |
2,348 |
-25.4 % |
Mobility Services |
14 |
- |
+++ |
Sales Financing |
2,358 |
2,545 |
-7.3 % |
Total |
28,799 |
39,346 |
-26.8 % |
GROUPE RENAULT’S TOP 15 MARKETS YEAR-TO-DATE SEPTEMBER
2020
Year-to-date 09-2020 |
Volumes* |
PC+LCV market
share |
|
|
(in %) |
(in %) |
1 |
FRANCE |
382,916 |
26.4 |
2 |
RUSSIA |
324,526 |
29.6 |
3 |
GERMANY |
137,973 |
6.2 |
4 |
CHINA |
113,483 |
0.7 |
5 |
ITALY |
107,050 |
10.0 |
6 |
BRAZIL |
90,202 |
7.0 |
7 |
TURKEY |
86,859 |
17.6 |
8 |
SPAIN+CANARY
ISLANDS |
86,146 |
12.2 |
9 |
SOUTH
KOREA |
73,581 |
5.4 |
10 |
UNITED
KINGDOM |
60,083 |
4.1 |
11 |
BELGIUM+LUXEMBOURG |
50,045 |
11.7 |
12 |
INDIA |
49,532 |
2.8 |
13 |
ROMANIA |
40,237 |
40.2 |
14 |
MOROCCO |
35,308 |
41.1 |
15 |
POLAND |
35,064 |
10.5 |
*
2020 Q3 (sales), excl
Twizy
TOTAL GROUP’S SALES PC+LCV BY
REGION
|
Q3 |
Ytd end of September |
Regions |
2020 |
2019 |
Change % |
2020 |
2019 |
Change % |
France |
140,382 |
136,645 |
+2.7 |
382,916 |
516,099 |
-25.8 |
Europe* (Excl France) |
264,841 |
280,818 |
-5.7 |
646,505 |
972,653 |
-33.5 |
France + Europe Total |
405,223 |
417,463 |
-2.9 |
1,029,421 |
1,488,752 |
-30.9 |
Africa Middle East India Pacific |
87,573 |
99,376 |
-11.9 |
238,330 |
317,353 |
-24.9 |
Eurasia |
207,309 |
189,758 |
+9.2 |
504,776 |
536,030 |
-5.8 |
Americas |
63,464 |
109,342 |
-42.0 |
177,291 |
315,109 |
-43.7 |
China |
42,751 |
42,389 |
+0.9 |
113,540 |
132,138 |
-14.1 |
Total Excl France + Europe |
401,097 |
440,865 |
-9.0 |
1,033,937 |
1,300,630 |
-20.5 |
World |
806,320 |
858,328 |
-6.1 |
2,063,358 |
2,789,382 |
-26.0 |
* Europe = European Union (exclude France, Romania, Bulgaria) +
Iceland, Norway, Switzerland, United Kingdom, Serbia and Balkan
states
TOTAL SALES BY BRAND
|
Q3 |
Ytd end of September |
|
2020 |
2019 |
Change % |
2020 |
2019 |
Change % |
RENAULT |
|
|
|
|
|
|
PC |
403,420 |
428,120 |
-5.8 |
1,027,513 |
1,436,733 |
-28.5 |
LCV |
80,160 |
93,198 |
-14.0 |
216,683 |
309,635 |
-30.0 |
PC+LCV |
483,580 |
521,318 |
-7.2 |
1,244,196 |
1,746,368 |
-28.8 |
RENAULT SAMSUNG MOTORS |
|
|
|
|
|
|
PC |
16,373 |
21,621 |
-24.3 |
69,515 |
55,084 |
+26.2 |
DACIA |
|
|
|
|
|
|
PC |
147,194 |
159,612 |
-7.8 |
342,964 |
526,474 |
-34.9 |
LCV |
8,084 |
10,335 |
-21.8 |
23,506 |
35,716 |
-34.2 |
PC+LCV |
155,278 |
169,947 |
-8.6 |
366,470 |
562,190 |
-34.8 |
LADA |
|
|
|
|
|
|
PC |
101,863 |
100,867 |
+1.0 |
249,704 |
294,192 |
-15.1 |
LCV |
4,580 |
3,433 |
+33.4 |
9,463 |
9,190 |
+3.0 |
PC+LCV |
106,443 |
104,300 |
+2.1 |
259,167 |
303,382 |
-14.6 |
ALPINE |
|
|
|
|
|
|
PC |
351 |
1,101 |
-68.1 |
1,050 |
3,948 |
-73.4 |
JINBEI&HUASONG |
|
|
|
|
|
|
PC |
347 |
2,622 |
-86.8 |
1,587 |
7,037 |
-77.4 |
LCV |
42,951 |
37,419 |
+14.8 |
111,856 |
111,373 |
+0.4 |
PC+LCV |
43,298 |
40,041 |
+8.1 |
113,443 |
118,410 |
-4.2 |
GROUPE RENAULT |
|
|
|
|
|
|
PC |
670,545 |
713,943 |
-6.1 |
1,701,850 |
2,323,468 |
-26.8 |
LCV |
135,775 |
144,385 |
-6.0 |
361,508 |
465,914 |
-22.4 |
PC+LCV |
806,320 |
858,328 |
-6.1 |
2,063,358 |
2,789,382 |
-26.0 |
About Groupe RenaultGroupe
Renault has manufactured cars since 1898. Today it is an
international multi-brand group, selling close to 3.8 million
vehicles in 134 countries in 2019, with 40 manufacturing sites,
12,700 points of sales and employing more than 180,000 people. To
address the major technological challenges of the future, while
continuing to pursue its profitable growth strategy, Groupe Renault
is focusing on international expansion. To this end, it is drawing
on the synergies of its five brands (Renault, Dacia, Renault
Samsung Motors, Alpine and LADA), electric vehicles, and its unique
alliance with Nissan and Mitsubishi Motors. With a 100% Renault
owned team committed to the Formula 1 World Championship since
2016, the brand is involved in motorsports, a real vector for
innovation and awareness.
FOR MORE INFORMATION, PLEASE CONTACT:
Astrid de
Latudeastrid.de-latude@renault.comAttachée de presse+33 1
76 83 18 84 / +33 6 25 63 22 08
Rie Yamane rie.yamane@renault.comAttachée de
presse +33 6 03 16 35 20
1 In order to analyze the change in consolidated revenues at
constant perimeter and exchange rates, Groupe Renault recalculates
revenues for the current year by applying the average annual
exchange rates of the previous year, and excluding significant
changes in perimeter that occurred during the year.
2 CAFE : Corporate Average Fuel Economy
3 CAFE : Corporate Average Fuel Economy
4 In order to analyze the change in consolidated revenues at
constant perimeter and exchange rates, Groupe Renault recalculates
revenues for the current year by applying the average annual
exchange rates of the previous year, and excluding significant
changes in perimeter that occurred during the year.
- GB-2020-10-23 - Groupe Renault - PR Q3 2020 VDEF
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