(AOF) – Valérie Gillot joins Renault Group as director of external group and business communications. She will be responsible for managing corporate press relations for Renault Group, as well as managing industrial communications, engineering, design, ESG, partnerships and events. Valérie Gillot will report directly to Stéphanie Cau, Renault Group Communications Director.
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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, more than 50% of which is generated 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 mid-sized vehicles, on the quality of the electric or hybrid vehicle offering and flexible services;
– Capital held at 15% (29.05% voting rights) by the French State, 15% by the Nissan subsidiary, and 3.61% (5.88%) by the employees, the board of directors of 17 members being chaired by Jean-Dominique Senard, Luca de Meo being general director;
– Strengthened balance sheet with net debt reduced to €426 million, cash assets reaching €15.8 billion.
Challenges
– “Renaulution” strategy in 3 stages, the objectives of which will be updated in autumn 2022: resurrection until 2023: brand autonomy, rationalization of platforms from 6 to 3, “mid-range” offer increased to 40% revenues versus 15%, operating margin of +3%, free self-financing of €3 billion / renovation from 2023 to 2025 through the renewal of ranges / renaulution: ramp-up in 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 vehicle electronic architecture project / E-TECH hybrid technology and French and 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 worldwide: objective of a range of all-electric private vehicles in Europe in 2030 via €23 billion in investments by 2027 and 5 common platforms / circular economy the mobility supported by the Flins factory;
– Positive product mix effect for turnover 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 the lack of semiconductors: loss of 300,000 vehicles in 2022;
– Impact of raw materials inflation offset by trade policy;
– Impact of the Russia-Ukraine war: net loss of €2.3 billion from discontinued activities but reduction in debt;
– Operational launch of Mobilize, bringing together mobility, energy, financing, insurance and maintenance services, targeting 20% of sales in 2030;
– After stable turnover and a tripling, excluding Russian impact, of net profit on 1
er
half-year, 2022 objectives revised upwards: operational self-financing of +€1.5 billion and operating margin of +5%.
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A French market in good shape
The French automobile market recorded its tenth consecutive month of growth in October 2023 with 152,383 registrations of new passenger vehicles (+22% year-on-year). It increased by 16.49% over the first 10 months of 2023, with 1.44 million registrations, almost as many as in 2022 (1.52 million) but much less than the level of 2019 (2.2 million ). However, the forecast indicators are not good because new orders fell by 13% at the end of September 2023. The slowdown in orders could be explained by inflation, the rise in interest rates, and more prudent management of their cash flow by companies (half of the market). If Stellantis (Peugeot, Citroën, Fiat, Opel, Jeep) remains the leader of the French market, with a market share greater than 28%, the Renault group (Renault, Dacia, Alpine) benefited from good performances in October 2023, with almost 31% additional new registrations over one year. The French group represents 24.6% of the private car market.