Renault Group's employee share ownership plan 2024: strong growth momentum
| PRESS RELEASE October 24, 2024 |
RENAULT GROUP'S EMPLOYEE SHARE OWNERSHIP PLAN 2024: STRONG GROWTH MOMENTUM
- The Renaulution Shareplan has once again sparked a strong interest among Renault Group employees, reaffirming their commitment to the company's strategic transformation.
- For the third edition, the participation rate saw a significant increase, reaching 43% compared to 36% in 2023.
- Over 93,000 employees will benefit from 7 free shares. Among them, nearly 46,000 have also subscribed to shares at a preferential price of €29.26, after a 30% discount.
- In total, the 2024 Renaulution Shareplan initiative will transfer nearly 1.88 million additional shares to the Group's employees, representing 0.64% of Renault SA's capital. After the operation, employees will hold around 5.74% of Renault SA's capital.
Boulogne-Billancourt, October 24, 2024 – The third employee share ownership campaign, named Renaulution Shareplan, which was held from September 18 to October 2, 2024, was a success, reflecting the employees' commitment and confidence in the company’s strategic direction. In addition to the allocation of 7 free shares to eligible employees in 30 countries1, employees in 24 countries were also given the opportunity to acquire shares on advantageous terms.
"The tradition of Renault as a social laboratory is a great strength, provided we constantly update it. This is what we are doing with our employee share ownership plan, one of the most modern across all sectors. We are placing our employees at the heart of the company’s profound transformation. This year, we reaffirm our commitment to value sharing, benefiting all those who help create it, with this third edition. By the end of it, employees will hold 5.74% of Renault SA’s capital. This success is another sign of their confidence in the company's strategy," said Luca de Meo, CEO of Renault Group.
A strong signal of confidence in the Group’s strategy
The contributions under the 2024 Renaulution Shareplan (a maximum of 14 free shares)2 represent approximately 817,600 shares, or 0.28% of Renault SA’s capital, which will be allocated free to the Group's employees.
Furthermore, nearly 46,000 employees, representing 43% of eligible employees, participated in the subscription offer proposed as part of the 2024 Renaulution Shareplan. The total investment by employees amounts to over €31,100,000, with an average subscription amount per employee of €679. This represents more than 1,063,000 subscribed shares, or 0.36% of the capital of Renault SA.
In total, the 2024 Renaulution Shareplan operation will allow for the transfer of approximately 1,881,000 shares to the company's employees, representing 0.64% of the Renault SA’s capital, held through an Employee Mutual Fund (FCPE) or, in some countries, directly in a registered account.
As a result of the share allocation from this operation, employees will thus hold about 5.74% of Renault SA's capital, bringing the Group closer to its ambition of achieving 10% employee shareholding.
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About Renault Group
Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 4 complementary brands - Renault, Dacia, Alpine and Mobilize - offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold 2.235 million vehicles in 2023. It employs more than 105,000 people who embody its Purpose every day, so that mobility brings people closer.
Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, the Group’s ambition is to achieve carbon neutrality in Europe by 2040.
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1 Argentina, Austria, Belgium, Brazil, China, Colombia, Croatia, Czech Republic, France, Germany, Hungary, India, Ireland, Italy, Malta, Mexico, Morocco, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Turkey, Ukraine and the United Kingdom
2 Unilateral matching contribution equivalent to 7 shares and an additional matching contribution capped at the equivalent of 7 shares in case of subscription to the 2024 Renaulution Shareplan offer.
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