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Groupe Renault

Revenues increase 25.2% in the first quarter (+19.7% excluding the impact of the AVTOVAZ consolidation)

April 27, 2017
  • Group revenues totaled €13,129 million in first quarter 2017 (€12,560 million excluding AVTOVAZ). The 25.2% increase (19.7% excluding AVTOVAZ) resulted primarily from an increase in the Group’s brand volume and sales to partners.
  • First quarter sales rose by 15.8% to 873,678 vehicles (at constant scope, including Lada) in a market that grew 4%.
  • Sales volumes and market share increased in all regions. The Renault and Dacia brands set new sales records for a first quarter.
  • In Europe, Group registrations rose 10% in a market up 8%, driven by new models and the confirmation of the good results of Kadjar, Clio 4, Captur and Duster. 
  • Outside Europe, the Group posted a 100% increase in sales in Asia-Pacific and a 31% increase in the Africa-Middle East-India Region.
  • The Group is confirming its guidance for the year.


Sales Results: first quarter highlights

Groupe Renault (including Lada) worldwide registrations (PC + LCV) increased by 15.8% in a market up 4%. The Group’s share of the world market now stands at 3.8%, up 0.4 points on 2016. The Renault and Dacia brands set new sales records for a first quarter. Renault Samsung Motors sales increased by 56.3% and those of Lada by 7%.

In Europe, the Group’s share of the PC + LCV market increased 0.2 points to 10.1%. Sales grew 10% to 478,706 vehicles.

The Renault brand continued to progress, with a 10.1% rise in registrations. Market share came out at 7.7%, up 0.1 points. Renault notably benefited from the complete renewal in 2016 of the Megane family. Electric vehicle sales increased by 46% to nearly 10,000 units (excluding Twizy) thanks to the success of New ZOE with a range of 400 km (NEDC). Sales of ZOE rose 57% and reinforced the Group’s leadership with a 28% share of the electric vehicle market. 

The Dacia brand posted a sales record for a first quarter with 112,457 registrations and a 2.4% share of the market. This 9.5% growth resulted from the performance of Sandero phase 2, launched in late 2016.

In France, Groupe Renault benefited from the growth of the market with a 5.6% increase in registrations. The Group placed five vehicles in the top ten best-selling PCs (including the top-seller, Clio 4) and occupied the top four positions in the LCV top ten. The Dacia brand was buoyed by the success of Sandero (the leader in sales to retail customers).

Outside Europe, all the Regions increased their sales volumes and market share.
Groupe Renault strengthened its positions with the success of its range: Kwid in India, QM6 and SM6 in South Korea, Kaptur in Russia, Koleos in China, Megane Sedan in Turkey, and Captur in the Americas.

In Africa-Middle East-India, Group registrations rose 30.9% for a market share of 6% (up 1.4 points).
Sales in Iran rose sharply (up 161.5%) for a market share of 9%, up 4.9 points, thanks to the success of Tondar and Sandero.
In India, Renault continued to rank as the number-one European brand with a 3.6% share of the market and a 9.9% increase in sales. Kwid registrations reached nearly 27,000.
In North Africa, the Group took a 41.5% share of the market, up 8.3 points with a 13.4% increase in sales.

In Eurasia, registrations increased by 6.3% in a market down 0.5%. The market share of Groupe Renault, now including the Lada brand, rose 1.5 points to 24.1%, notably thanks to a strong momentum in Russia.
In a Russian market that grew slightly (+1%) for the first time in four years, the Group increased its sales by 9.2% (including Lada).
The Renault brand took a 8.1% share of the market, up 0.8 points. Registrations of Kaptur, launched in June 2016, came to over 6,000 for the quarter.
Lada sales volumes rose 8% for a market share of 19.1% (up 1.2 points) thanks to the success of the new Vesta and Xray models.
With the consolidation of Lada sales volumes, Russia has become the Group’s number-two market.
In Turkey, sales increased 0.8% in a market down 7.4%. The Group posted a 19% share of the market, up 1.5 points. New Megane Sedan, awarded “Car of the Year”, is off to a successful start with over 6,500 registrations.

In the Asia-Pacific Region, registrations were up 99.7% in a market up 4.6%.
In China, Renault sold nearly 18,000 vehicles (compared with 3,400 in first-quarter 2016), including 10,000 New Koleos, launched at end-2016 and produced locally.
Renault Samsung Motors posted a growth of 56.4% in a South Korean market up 0.9%, for a market share of 6.2%, up 2.2 points, driven by the success of the latest product launches (SM6 and QM6).

In the Americas region, sales increased 19% in a market up 9%, for a market share of 6.3%, up 0.5 points. The success of Sandero, Logan and Duster Oroch models was confirmed.
Groupe Renault continue to take full advantage of the recovery in the Argentinean market, with an 87.2% increase in registrations in a market up 42.8%. Market share rose by 3.1 points to 13.1%. Renault is fully benefitting from the local production of Sandero and Logan since end-2016. The market in Brazil has stabilized (down 1.2%) and the Group maintained its market share at 6.8%.


First quarter revenues by operating sector

Group revenues came to €13,129 million in first quarter 2017, up 25.2%. Excluding the impact of the consolidation of AVTOVAZ, Group revenues increased by 19.7% to €12,560 million (up 18.4% at constant exchange rates).

Automotive excluding AVTOVAZ revenues totaled €11,939 million, up 20.1%, mainly thanks to growth in sales volumes (up 9.2 points). The increase in sales to partners contributed 3.5 points to this growth. The performance reflects the strong momentum in our CKD1 activity in Iran and China and in the sales of vehicles assembled in Europe (notably with the start of Nissan Micra production). The price effect (+2.4 points) benefited primarily from recent launches. The currency effect was positive at 1.3 points, mainly owing to the strengthening of the Russian ruble and Brazilian real, despite the negative impact of the British pound.

Sales Financing (RCI Banque) posted revenues of €621 million in the first quarter, up 13.5% on 2016. The number of new financing contracts increased by 21.4%. Average performing assets rose 21.9% to €37.9 billion.


Outlook for 2017

In 2017, the global market is expected to a record growth of 1.5% to 2.5% (versus 1.5% to 2% previously). The European market is still expected to increase by 2% this year, as is the French market.

Outside Europe, the Russian market might increase by up to 5% (versus stable previously), whereas the Brazilian market should remain stable. China (+5%) and India (+8%) are expected to continue their growth momentum.
 
With this context, and following the consolidation of AVTOVAZ, Groupe Renault is confirming its guidance:

  • increase Group revenues, beyond the impact of AVTOVAZ (at constant exchange rates)*,
  • increase Group operating profit in euros*,
  • generate a positive automotive operational free cash flow.

* compared with 2016 Groupe Renault published results


Groupe Renault consolidated revenues

(€ million)20172016 Change
2017/2016
Q1   
Automotive excluding AVTOVAZ11,9399,942+20.1%
Sales Financing621547+13.5%
AVTOVAZ750--
AVTOVAZ eliminations-181--
Total13,12910,489+25.2%
Excluding the impact of AVTOVAZ consolidation12,56010,489+19.7%

1CKD: Complete Knock Down

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