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Automobile Dacia SA

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Summary

Company ID (NIN)

160796

Company owner / manager

  • Renault SA
  • Other

Country

Romania

Capital

2,541,738,211

Total assets

7,952,728,459

Net profit for the period

456,534,525

Report year

2016

Currency

RON

Industry

Motor Vehicles

General information

About Automobile Dacia SA

Automobile Dacia SA is a Romanian passenger car producer, majority owned by French automotive manufacturer Renault SA.

 

Last updated on July 17, 2017.

Meta info
Status
Active
Legal form
Joint Stock Company
Incorporation date
Feb. 13, 1991
NIN
160796
Tickers
Stock Exchange
ISIN
Profile last updated
July 17, 2017, 6:11 p.m.
Alternative names

    Automobile Dacia JSC
    Automobile - Dacia SA
    Automobile - Dacia JSC
    Dacia Group

History

    1966 - Mioveni Motorcar Plant is established.

    1968 - Dacia starts producing cars under a Renault licence.

    Feb 13, 1991 - Automobile Dacia SA is registered as a joint stock company.

    Sept 15, 1997 - The company lists on the Bucharest Stock Exchange.

    1998 - The company receives an ISO 9001 Quality management systems certificate.

    Sept 29, 1999 - Renault SA buys a 51% stake in Automobile Dacia SA for USD 50 mln.

    2000 - Renault SA raises its stake in Automobile Dacia SA to 80.14% via two capital increases.

    May 2001 - Renault SA increases its stake in Automobile Dacia SA to 92.72% through a capital hike.

    May 2003 - Renault makes a mandatory buyout offer for Automobile Dacia SA, after which it owns a 99% stake. Automobile Dacia SA delists from the Bucharest Stock Exchange (stock symbol: DAC; ISIN: RODACAACNOR8).

    2005 - The company receives an ISO 14001:2004 Environmental management systems certificate.

    Jan 20, 2015 - Automobile Dacia SA takes over its subsidiary Presate Dacia SA, which no longer exists as a separate legal entity.

     

    Last updated on July 17, 2017.

Management

Executive Board
Dana Oprisan
Executive Officer
Cornel Olendraru
Executive Officer
Mihai Acsinte
Executive Officer
Gabriel Sicoe
Executive Officer
Stefan Gaibu
Executive Officer
Anca Oreviceanu
Executive Officer
Philippe Nottez
Executive Officer
Board of Directors
Jean-Paul Franco
Member of the Board
Dan Mihai Bedros
Member of the Board
Constantin Stroe
Deputy-Chairman of the Board
Yves Caracatzanis
Chairman of the Board and CEO
Denis Le Vot
Member of the Board

Contacts

Address
1 Uzinei Str.
115400
Mioveni, Romania
Telephones

+40 212 03 86 52
+40 248 50 00 00
+40 248 34 20 00
+40 248 34 36 29

Fax

+40 212 08 79 70
+40 248 50 00 76
+40 248 341 824

Emails

info.dacia@daciagroup.com
vocea.clientului@daciagroup.com
contact.dacia@daciagroup.com
iulian.albu@daciagroup.com

Websites
www.daciagroup.com www.dacia.ro

Ownership

Name Direct holding Indirect holding Owner type Country
Renault SA 99.43 Company France
Other 0.57 Other

Subsidiaries and affiliates

Name Direct holding Indirect holding Country
Fundatia pentru Dezvoltare si Solidaritate 96.67 Romania
Renault Technologie Roumanie SRL 48.95 Romania

Products and services

Automobile Dacia SA produces:

1. Passenger cars:

  • Logan – five-seater passenger car;
  • Logan MCV – five to seven-seater passenger car;
  • Logan – utility vehicle.

2. Commercial vehicles.
3. Engines and gearboxes:

  • E7J engine;
  • JH3 gearbox of Renault origin.

Automobile Dacia SA's range of models includes Logan, Logan MCV, Logan Van, Logan Pick-Up, Sandero, Sandero Stepway, Lodgy, Duster.

 

Capacity

Automobile Dacia SA's headquarters and production facilities are located in Mioveni, southern Romania. The plant covers 2.9 million sq m, including 623,000 sq m of built-up area.

The company's stamping department has 11 stamping lines, one semi-automatic cutting line and five cutting machines. The department covers 44,000 sq m and has an output capacity of 2.2 million stamped parts per month.

The body assembling line covers 34,000 sq m, has six assembly presses for mobile equipment, pneumatic presses and 253 welding tongs. The line has an output capacity of 40 car bodies per line per hour.

The paint department covers 22,000 sq m and can produce 40 painted vehicles per hour.

The company's mechanical department takes up 35,000 sq m and has stands for checking engines and gearboxes. It has a quality control point. The final assembly covers 30,000 sq m and has a stand for wheel alignment, rolling and braking test benches and ceiling test cabin. The department can handle 40 vehicles per hour and roll out 730 vehicles per day.

The logistics department area covers 35,000 sq m.

Automobile Dacia SA's plant has an annual production capacity of 350,000 vehicles, and 120,000 engines and gearboxes. The company is able to produce 62 vehicles per hour.  

Automobile Dacia SA Cars Production by Model (units)
  2015 2014
Dacia Logan MCV II 40,615 42,631
Dacia Duster 866 15,975
Dacia Duster II 169,491 158,275
Dacia Sandero II 23,304 20,310
Dacia Sandero II Stepway 34,726 24,218
Dacia Logan II 70,231 77,450
Total 339,233 338,859

Automobile Dacia SA became a producer of solar energy through a solar panel project which was installed on the roof of its plant in Mioveni in 2013.
 
Prime and raw materials:
metals, electrical components, plastics, rubber, power axles, cable, seats, exhaust systems, air-conditioning/heating equipment.
Suppliers:
Automobile Dacia has a total 188 suppliers, of which 54 are Romanian. Among them are:

  • ACI Romania SRL Grup Renault - power axles
  • Valeo Romania SRL - cables
  • JCI Romania - seats
  • Euro Aps SRL - thermoformed plastic parts.

Employment

Year Employees Report type
2015-12-31 14,194 Non-consolidated
2014-12-31 14,184 Non-consolidated
2013-12-31 14,002 Non-consolidated
2012-12-31 13,640 Non-consolidated
2011-12-31 13,652 Non-consolidated
2010-12-31 13,823 Non-consolidated
2009-12-31 12,698 Non-consolidated
2008-12-31 13,274 Non-consolidated
2007-12-31 12,532 Non-consolidated

Market and sales

Automobile Dacia SA sells its production both on the Romanian and the global markets.

In January and February 2017 Dacia sold 17,985 vehicles in France, an increase of 2.8% y/y, and claimed a market share of 5.7% on the French market.

In the first two months of 2017 Dacia sold 7,333 vehicles in Germany, an increase of 26.2% y/y, and claimed a market share of 1.7% on the German market.

In January 2017 Dacia sold 1,994 units in the UK in January 2017 and claimed a market share of 1.14%.

In 2016 the company sold 49,124 cars in Germany, up by 7.3% compared to 2015.

In 2016 Dacia sold 110,529 cars in France and claimed a share of 5.5%.

In 2016 Dacia sold 26,499 cars on the British market and claimed a share of 1.0%.

Dacia's global sales in 2016 stood at 584,219 vehicles, compared to 550,939 in 2015.

In its 2016 edition Bulgarian business information provider SeeNews ranked Automobile Dacia SA first in terms of total revenue among the 100 largest non-financial companies in southeastern Europe. In the 2015 edition the company was also ranked first.

In 2015 Automobile Dacia SA sold a total of 550,920 vehicles, an increase of 7.7% compared to 2014. Out of them, 513,974 cars were sold abroad and 36,946 in Romania. In the same year Dacia claimed a domestic market share of 33%.

Automobile Dacia SA Sales by Product and Market (mln RON)
  2015 2014
Vehicles 10,279 10,233
  - domestic 1,196 953
  - export 9,083 9,280
Spare parts 565 523
  - domestic 348 259
  - export 217 264
Mechanical elements 1,489 979
  - domestic 110 116
  - export 1,379 863
Car accessories 6,045 6,255
Others 787 843
Total 19,165 18,833

 

Automobile Dacia SA Top Export Destinations (units)
Country 2015 2010
France 100,035 110,076
Spain 55,168 21,753
Germany 47,453 40,500
Italy 46,792 21,930
Turkey 44,812 19,167
Algeria 40,688 18,578
Morocco 37,392 18,087
United Kingdom 26,267 -
Belgium 17,000 11,403
Poland 14,906 6,018

In 2015 Dacia held market shares of 4.4% in France and 4.6% in Spain, according to its own estimations.

Dacia Sales in Romania by Model (units)
Model 2015 2014 2010
Logan berlina 16,119 11,349 22,791
Duster 7,271 6,134 4,826
Logan MCV 3,111 2,646 3,678
Lodgy 697 638 N/A
Sandero 5,562 4,957 3,047
Logan Van N/A N/A 1,473
Logan Pick Up N/A N/A 915
Dokker 2,003 1,700 N/A
Dokker Van 2,183 2,201 N/A

 

Automobile Dacia SA sold 429,540 vehicles worldwide in 2013, an increase of 19.3% compared to 2012. Out of this number, 399,583 were passenger cars and 29,957 were light commercial vehicles.

According to the French automotive industry association CCFA, Dacia had a market share of 7.2% on the French passenger car market in January 2014, compared to 6.1% in 2013.

In 2013 the Dacia brand entered six new markets - the UK, Ireland, Denmark, Cyprus, Malta and Norway.

Renault produced over 500,000 vehicles per year in 2010 under the Dacia nameplate.  More than half of the vehicles were made outside Romania for the Russian and Mediterranean market.

Investment plans

In 2015 Automobile Dacia SA invested RON 264.6 mln in non-current assets, compared to RON 342.3 mln in the previous year.

Renault SA invested a total of EUR 2.3 bln in Automobile Dacia SA by the end of 2014.

Automobile Dacia SA announced its plans to invest more than EUR 6.0 mln in environment programmes by the end of 2015.

Automobile Dacia SA invested EUR 100 mln to boost the capacity of its Pitesti plant in 2007. This increased the output to 350,000 vehicles per year and allowed the start of Euro 4 compatible engines production.

Financial information

Report ( Non-consolidated )
Balance Sheet - Assets 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
Non current assets 3,765,165,904 3,410,889,812 3,672,148,866 3,701,452,060 3,807,911,767 3,222,180,936 2,930,047,197 3,071,866,131 2,803,218,907 2,779,371,437 2,408,268,735 1,876,599,436 187,659,944
Fixed assets 3,488,806,650 3,134,640,502 3,393,830,732
Intangible assets 791,433 681,489 764,110
Other assets 0 0
Financial non current assets 275,567,821 275,567,821 277,554,024
Expenses for future periods 6,589,937 7,512,157 9,515,177 8,463,159 5,586,098 4,628,426 3,567,267
Current assets 4,181,146,205 3,964,964,560 3,472,261,624 3,580,525,556 2,777,315,777 2,866,492,095 2,614,241,294 1,840,944,098 1,445,294,622 1,832,215,370 1,239,466,540 882,971,967 88,297,197
Inventories 548,718,866 515,260,576 479,822,306 356,809,287 344,860,759 421,606,303 443,376,904 367,570,310 554,116,674 469,719,138 447,778,653 420,359,315 42,035,932
Trade and other receivables 2,093,962,485 1,638,398,066 1,501,951,655 1,767,334,089 1,085,631,832 912,293,932 1,270,451,298 852,012,334 350,229,824 949,900,465 780,695,732 401,161,046 40,116,105
Financial assets 0 0 0
Cash and equivalents 1,538,464,854 1,811,305,918 1,490,487,663 1,456,382,180 1,346,823,186 1,532,591,860 900,413,092 621,361,454 540,948,124 412,595,767 10,992,155 61,451,606 6,145,161
Total assets 7,952,728,459 7,382,444,309 7,151,922,647 7,291,492,793 6,593,690,703 6,094,259,129 5,548,916,917 4,916,377,496
Balance Sheet - Equity and liabilities 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
Total Equity 3,891,014,014 3,802,586,828 3,687,107,095 3,633,835,298 3,554,639,871 3,534,107,612 3,314,805,657 3,184,276,086 2,961,131,296 2,693,700,931 2,251,358,608 1,736,496,488 173,649,649
Capital 2,541,738,211 2,541,738,211 2,541,719,939 2,541,719,939 2,541,719,939 2,541,719,939 2,541,719,939 2,541,719,939 2,541,719,939 2,541,719,939 2,541,719,939 2,541,719,939 254,171,994
Reserves 1,134,672,755 886,161,776 807,317,022
Financial result 456,534,525 15,958,131 2,435,175
Non current liabilities 160,291,688 326,847,846 321,590,699
Trade and other liabilities 160,291,688 162,041,684 162,309,009
Other financing 0 164,806,162 159,281,690
Current liabilities 3,739,445,108 3,253,009,635 3,143,224,853 1,508,335,244
Short term debts, including tax liabilities and provisions 3,556,545,694 3,252,922,416 3,139,611,396
Other short term liabilities 182,899,414 87,219 3,613,457
Total Liabilities 3,899,736,796 3,579,857,481 3,464,815,552 3,467,361,920 2,888,361,782 2,400,670,328 2,038,475,925 1,508,335,244 1,125,693,065 1,817,232,973 1,296,839,878 958,167,011 95,816,701
Total Equity and Liabilities 7,952,728,459 7,382,444,309 7,151,922,647 7,291,492,793 6,593,690,703 6,094,259,129 5,548,916,917 4,916,377,496
Working capital 441,701,097 711,954,925 329,036,771
Number of Employees N/A 14,194 14,184 14,002 13,640 13,652 13,823 12,698 13,274 12,532 N/A N/A N/A
Profit and Loss Account 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
Operating revenue 20,829,448,632 19,231,554,250 18,915,772,655
Net sales revenue 20,764,966,545 19,164,558,589 18,833,365,417 18,402,497,788 12,742,145,319 13,177,841,584 11,403,296,221 9,004,409,833 7,642,296,976 6,935,991,047 5,554,373,911 4,367,606,636 436,760,664
Export turnover
Financial revenue 147,104,552 179,464,998 117,507,764
Total operating revenue 20,976,553,184 19,411,019,248 19,033,280,419 18,633,253,295 12,946,397,843 13,433,362,621 11,606,030,655 9,081,004,000
Extraordinary revenue
Total revenue 20,976,553,184 19,411,019,248 19,033,280,419 18,633,253,295 12,946,397,843 13,433,362,621 11,606,030,655 9,081,004,000 8,402,861,521 7,207,585,947 5,787,843,114 4,589,378,817 458,937,882
Cost of goods sold
Expenses for materials 11,536,109,242 16,099,225,988 15,860,706,873
Expenses for employees 1,203,900,714 1,172,009,349 1,089,372,513
Depreciation and amortisation 506,347,958 539,504,743 551,847,227
Other 7,050,702,972 962,228,320 972,610,494
Operating expenses 20,297,060,886 18,768,724,659 18,456,344,280
Financial expenses 173,587,909 145,864,944 175,747,507
Interest paid 17,635,468 18,075,884 18,963,909
Total operating expenses 20,470,648,795 18,914,589,603 18,632,091,787
Extraordinary expenses
Total expenses 20,470,648,795 18,914,589,603 18,632,091,787 18,301,064,251 12,602,606,812 13,065,263,846 11,271,963,072 8,790,115,384 8,143,469,504 6,666,211,073 5,368,272,274 4,343,467,733 434,346,773
Profit before taxes 505,904,389 496,429,645 401,188,632 332,189,044 343,791,031 368,098,775 334,067,583 290,888,616
Loss before taxes 0 0 0 0 0 0 0 0
Expenses for taxes 49,369,864 48,491,322 29,518,457
Profit/loss after taxation 456,534,525 447,938,323 371,670,175
Minority interest
Net profit for the period 456,534,525 447,938,323 371,670,175 337,444,120 277,239,794 275,111,397 300,015,819 230,276,035 222,018,211 442,342,323 377,273,201 298,294,327 29,829,433
Net loss for the period 0 0 0 0 0 0 0 0
Added value 2,216,153,061 2,207,943,737 2,042,408,372 230,276,035
Gross profit 259,392,017 541,374,874 419,570,840 245,911,084 24,591,108
Operating profit 532,387,746 462,829,591 459,428,375
Operating loss 0 0 0
Financial profit/loss -26,483,357 33,600,054 -58,239,743
Extraordinary profit/loss 0 0 0
Key Ratios 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
ROE 11.733048 % 11.78 % 10.08 % 9.29 % 7.8 % 7.78 % 9.05 % 7.23 % 7.50 % 16.42 % 16.76 % 17.18 % 17.18 %
ROA 5.740602 % 6.07 % 5.2 % 4.63 % 4.2 % 4.51 % 5.41 % 4.68 % N/A N/A N/A N/A N/A
ROIC 19.903696 % 19.97 % 18.24 % N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Operating margin 2.563875 % 2.42 % 2.44 % N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Net profit margin 2.198581 % 2.34 % 1.97 % 1.83 % 2.18 % 2.09 % 2.63 % 2.56 % 2.91 % 6.38 % 6.79 % 6.83 % 6.83 %
Total liabilities/assets 49.036464 % 48.49 % 48.45 % 47.55 % 43.8 % 39.39 % 36.74 % 30.68 % N/A N/A N/A N/A N/A
Total liabilities/equity 100.224178 % 94.14 % 93.97 % 95.42 % 81.26 % 67.93 % 61.5 % 47.37 % 39.45 % 67.46 % 57.60 % 55.18 % 55.18 %
Current liquidity ratio 1.12 1.22 1.10 1.22 1.28 1.01 0.96 0.92 0.92
Quick ratio 0.41 0.56 0.47 0.98 0.79 0.75 0.61 0.48 0.48
Inventory turnover ratio 37.84 37.19 39.25 51.58 36.95 31.26 25.72 24.50 13.79 14.77 12.40 10.39 10.39
Fixed assets turnover ratio 5.52 5.62 5.13 4.97 3.35 4.09 3.89 2.93 2.73 2.50 2.31 2.33 2.33
Total assets turnover ratio 2.61 2.60 2.63 2.52 1.93 2.16 2.06 1.83
EBIT 532,387,746 462,829,591 459,428,375
EBITDA 1,038,735,704 1,002,334,334 1,011,275,602
NCF 962,882,483 987,443,066 923,517,402 230,276,035
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