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Automobile Dacia SA

Summary

Company ID (NIN)

160796

Company owner / manager

  • Renault SA
  • Other

Country

Romania

Capital

2,541,738,211

Total assets

9,099,370,128

Net profit for the period

539,096,215

Report year

2017

Currency

RON

Industry

Motor Vehicles

General information

About Automobile Dacia SA

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


Last updated on August 1, 2019.

Meta info
Status
Active
Legal form
Joint Stock Company
Incorporation date
Feb. 13, 1991
NIN
160796
Tickers
Stock Exchange
ISIN
Profile last updated
Aug. 7, 2019, 1:19 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 production of cars under the Renault licence.

    Feb 13, 1991 - Automobile Dacia SA transforms into a joint stock company.

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

    1998 - Automobile Dacia SA 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 SA 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.

    December 2017 - Fundatia Groupe Renault Romania, a local foundation supporting art and cultural initiatives of Dacia, is established in Bucharest, the capital of Romania. Automobile Dacia SA owns a 33.33% stake in the foundation.

     

    Last updated on August 1, 2019.

Management

Executive Board
Mony Olivier
Member of the Board
Christophe Dridi
Director General
Board of Directors
Mihai Acsinte
Member of the Board
Nicolas Maure
Member of the Board
Dan Mihai Bedros
Member of the Board

Contacts

Address
1, Uzinei Str.
115400
Mioveni, Romania
Telephones

+40 212 038 652
+40 248 500 000

Fax

+40 212 087 970
+40 248 500 076

Emails

info.dacia@daciagroup.com
vocea.clientului@daciagroup.com

Websites
www.gruprenault.ro 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
Organizatia Patronala Auto Industrial 50.0 Romania
Fundaţia Groupe Renault Romania 33.33 Romania

Products and services

Automobile Dacia SA produces:

  • Passenger cars:
    • five-seater passenger cars;
    • five to seven-seater passenger cars;
    • utility vehicles.
  • Commercial vehicles;
  • Engines and gearboxes:
    • E7J engine;
    • JH3 gearbox of Renault origin.

Automobile Dacia SA's range of models includes Logan, Logan MCV, Logan MCV Stepway, Sandero, Sandero Stepway, Lodgy, Duster, Duster SUV, Dokker and Dokker Van.

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 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'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 an area of 34,000 sq m, has six assembly presses for mobile equipment, pneumatic presses and 253 welding tongs. The line has an output capacity of 60 car bodies per line per hour.

The paint department covers 22,000 sq m and can produce 60 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 60 vehicles per hour and roll out 730 vehicles per day.

The logistics department area covers 35,000 sq m.

In 2013, 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.
 
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 local companies. Among them are:

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

Last updated on August 1, 2019.

Employment

Year Employees Report type
2017-12-31 14,261 Non-consolidated
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 (Dacia) sells its production in 44 countries on four continents. More than 90% of the company`s production is realised on the foreign markets, mainly in the European countries.

In its 2018 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 2017 edition, the company was also ranked first.

In the first half of 2019, the company produced 191,776 units, increasing by 9% compared to the similar period of 2018, according to the Romanian Car Makers Association (ACAROM).

According to the Romanian Car Makers Association (ACAROM), Dacia produced 335,262 units in 2018, which is 6.8% increase, compared to 313,883 units in 2017.

In December 2018, the company started production of a new 1.0 litre IG-T100 gasoline engine for Renault-Nissan Alliance.

Dacia produced 242,605 vehicles for the period January - September 2018, up 4.6% from 231,858 units in the same period in 2017, according to ACAROM. Out of this number, 166,087 units were of the Duster model, 35,371 Sandero units, 24,314 Dacia Logan units and 16,833 Dacia Logan MCV units.

In August 2018, the company started operation of an online platform for direct sales of vehicles.

According to the European Automobile Manufacturers' Association (ACEA), Dacia made 281,225 vehicle registrations for the first half of 2018, up 14.6% on the year.

The company produced almost 85,400 SUV type-cars in the first quarter of 2018, 2% up from the same period in 2017.

In 2017, Dacia had net sales revenue worth EUR 5.1 bln. The company was a market leader in Romania, having a 29% market share.

Dacia's total sales in 2017 stood at 655,235 vehicles, compared to 584,219 in 2016, which is an increase of 12.2%. 43,262 of the total vehicles sold were realised in Romania, and the rest 611,973 abroad.

At the end of 2017, the company presented its new model Duster SUV.

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, the company 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 and claimed a market share of 1.14%.

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

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

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

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

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. During the same year, Dacia claimed a domestic market share of 33%.

Automobile Dacia SA Cars Production by Model (units)
Model First Half of 2019 2018 2017 2016 2015 2014
Dacia Logan MCV 9,814 22,354 34,929 38,754 40,615 42,631
Dacia Duster 145,559 236,921 205,340 190,812 170,357 174,250
Dacia Sandero 17,872 42,146 40,828 53,841 23,304 20,310
Dacia Sandero Stepway N/A N/A N/A N/A 34,726 24,218
Dacia Logan 18,511 33,841 32,536 37,013 70,231 77,450
Total 191,756 335,262 313,633 320,420 339,233 338,859

 
Automobile Dacia SA Sales by Product and Market (mln RON)
  2017 2016 2015 2014
Vehicles 21,293 19,265 10,279 10,233
  - domestic 1,573 1,343 1,196 953
  - export 19,720 17,922 9,083 9,280
Spare parts 767 653 565 523
  - domestic 352 298 348 259
  - export 415 355 217 264
Mechanical elements N/A N/A 1,489 979
  - domestic N/A N/A 110 116
  - export N/A N/A 1,379 863
Car accessories N/A N/A 6,045 6,255
Others 1,083 847 787 843
Total 23,143 20,765 19,165 18,833

 
Automobile Dacia SA Top Export Destinations (units)
Country 2017 2016 2015 2014
France 119,356 112,111 100,035 105,893
Spain 56,301 54,543 55,168 45,986
Germany 64,918 50,973 47,453 50,704
Italy 63,374 52,382 46,792 39,964
Turkey 48,370 47,529 44,812 34,469
Algeria 30,776 18,801 40,688 39,741
Morocco 46,848 43,408 37,392 33,734
United Kingdom 25,211 26,562 26,267 23,862
Belgium 20,000 18,500 17,000 18,000
Poland 23,944 19,322 14,906 14,689

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

 
Automobile Dacia SA Sales in Romania by Model (units)
Model 2017 2016 2015 2014
Logan berlina 16,200 15,200 16,119 11,349
Duster 8,300 7,300 7,271 6,134
Logan MCV 3,200 3,300 3,111 2,646
Lodgy 950 N/A 697 638
Sandero 8,400 7,100 5,562 4,957
Logan Van N/A N/A N/A N/A
Logan Pick Up N/A N/A N/A N/A
Dokker N/A N/A 2,003 1,700
Dokker Van 3,771 N/A 2,183 2,201

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.

 

Last updated on August 1, 2019.

Investment plans

In December 2018, Automobile Dacia SA (Dacia) announced its plans to invest RON 116 mln, provided by the Romania's Finance Ministry, in improvement of its production facilities in 2019.

In 2017, the company`s total investments worth a total of RON 629.5 mln, compared to RON 229.3 mln in 2016.

The company invested RON 264.6 mln in non-current assets in 2015, compared to RON 342.3 mln in the previous year.

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

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

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


Last updated on August 1, 2019.

Financial information

Report ( Non-consolidated )
Balance Sheet - Assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
Non current assets 4,465,383,714 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 8,282,856 6,589,937 7,512,157 9,515,177 8,463,159 5,586,098 4,628,426 3,567,267
Current assets 4,625,703,558 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 614,560,496 548,718,866 515,260,576 479,822,306 356,809,287 344,860,759 421,606,303 443,376,904 367,570,310 554,116,674 469,719,138 447,778,653 420,359,315 42,035,932
Trade and other receivables 2,510,970,234 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 1,500,172,828 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 9,099,370,128 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 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
Total Equity 4,354,284,173 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 2,541,738,211 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 4,597,569,097 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 9,099,370,128 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 14,261 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 2017 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 23,143,498,839 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 23,413,230,619 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 23,413,230,619 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 22,862,698,248 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 550,532,371 505,904,389 496,429,645 401,188,632 332,189,044 343,791,031 368,098,775 334,067,583 290,888,616
Loss before taxes 0 0 0 0 0 0 0 0 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 539,096,215 456,534,525 447,938,323 371,670,175 337,444,120 277,239,794 275,111,397 300,015,819 230,276,035 222,018,211 442,342,323 377,273,201 298,294,327 29,829,433
Net loss for the period 0 0 0 0 0 0 0 0 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 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
ROE 12.38 % 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 5.92 % 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 N/A 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 N/A 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 2.33 % 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 0 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 0 100.224178 % 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 5.18 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 2.54 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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