(AOF) – As of February 1, 2023, Gianluca De Ficchy has been appointed CEO of Mobilize, a Renault group brand dedicated to new mobility. A graduate in Economics from the LUISS University of Rome, he was until now and since 2021 Alliance Purchasing Director and Managing Director of the Alliance Purchasing Organization (APO).
As Managing Director of Mobilize, he takes responsibility for the Mobilize Financial Services and Mobilize Beyond Automotive brands, in order to strengthen cooperation between the two entities and confirm the group’s development in new mobility, supported by automotive financing services. .
After joining Renault in 2001, Gianluca De Ficchy was appointed CEO of RCI Bank and Services in 2014. On April 1, 2018, he joined Nissan Europe as Senior Vice President and Chairman of the Management Committee.
“By associating the activities of Mobilize Financial Services and Mobilize Beyond Automotive more closely, we will be able to cover the entire mobility value chain, also drawing on the strengths of Renault Group”, declared the new DG.
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Key points
– Fourth largest automobile manufacturer in the world, created in 1898 and present under the Renault, Dacia, LADA, Alpine and Mobilize brands;
– Global industrial positioning, with a turnover of €46.2 billion achieved for more than 50% outside Europe and with strong positions mainly in the following countries: France, Italy, Turkey, Spain, Belgium-Luxembourg, Romania, Morocco and Poland;
– Business model: repositioning on medium-sized vehicles, on the quality of the offer in electric or hybrid vehicles and flexible services;
– Capital held at 15% (29.05% of voting rights) by the French State, at 15% by the subsidiary Nissan, and at 3.61% (5.88%) by the employees, the board of directors of 17 members being chaired by Jean-Dominique Senard, Luca de Meo being Chief Executive Officer;
– Strengthened balance sheet with net debt reduced to €426m, cash reaching €15.8bn.
Challenges
– “Renaulution” strategy in 3 stages, whose objectives will be updated in the fall of 2022: resurrection until 2023: brand autonomy, rationalization of platforms from 6 to 3, “mid-range” offer increased to 40% revenue against 15%, operating margin of +3%, free self-financing of €3 billion / renovation from 2023 to 2025 by renewing the ranges / renaulution: ramping up of the use of hydrogen in professional vehicles with a market share target of 30% in 2030;
– Innovation strategy focused on connectivity, services and electric vehicles: network of experts, innovation labs (California, France, Israel), ReKnow University dedicated to electrification, data cybersecurity, etc. / partnerships: CEA and the Moveo, Sysematic and ID4Car competitiveness clusters / NeVeOS project for the electronic architecture of vehicles / E-TECH hybrid technology and French carbon-free batteries / Renault Venture Kapital and Alliance Ventures investment funds for venture capital and support for start-ups;
– Environmental strategy aiming for carbon neutrality in 2040 in Europe and in 2050 in the world: objective of a range of all-electric private vehicles in Europe in 2030 via €23 billion of investments by 2027 and 5 common platforms / circular economy mobility driven by the Flins plant;
– Positive product mix effect for revenue with the launch of Arkana, Jogger and Mégane Electric;
– Towards the spin-off of electrical and “software” activities, which would be listed on the stock market, and thermal traction activities.
Challenges
– Impact of lack of semiconductors: loss of 300,000 vehicles in 2022;
– Impact of raw materials inflation offset by commercial policy;
– Impact of the Russia-Ukraine war: net loss of €2.3bn from discontinued operations but debt reduction;
– Operational launch of Mobilize, bringing together mobility, energy, financing, insurance and maintenance services, targeting 20% of sales by 2030;
– After stable turnover and a tripling, excluding the Russian impact, of net profit in 1
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semester, 2022 targets revised upwards: operating self-financing of +€1.5 billion and operating margin of +5%.
A paradoxical performance
Data from EY highlights that the performance of the world’s top 16 manufacturers was particularly strong in 2021. While the average margin has fallen for three years in a row, from 6.3% in 2017 to just 3.5% in 2020 , this margin stood at 8.5% in 2021. This level is a record for ten years. However, the context was particularly hectic for manufacturers, faced with unprecedented shortages of components. Global sales fell 14% in 2020, the year of the health crisis, to rebound by only 5% in 2021. However, last year, players were able to reap the benefits of their efforts on their fixed cost structure. .