Frequently Asked Questions

1.     How many shareholders does Dacia have?

     Automobile Dacia SA is a joint-stock company registered with the Arges Trade Register. From the total capital, with a value of 2,541,719,938.70 RON, approximately 99.43% is held by the majority shareholder, the French company Renault SA. The remainder of approximately 0.57% of the shares is held by a number of about 145 000 minority shareholders.

2.     How will be distributed the profit of Dacia for the year 2009?

    According to the approval of the General Assembly of Shareholders, the net profit registered by Dacia in the year 2009, with a value of 230 276 035 RON, will be distributed as follows:

        - Constitution of the legal reserve, with a value of 14 544 431 RON, according to Law 31/90

        - Constitution of the legal reserve with a value of 42 268 605 RON, according to the Fiscal Code art. 19.

        - Participation of employees to the profit : 17 346 300 RON (representing 10% of the net profit after the distributions from the first two points above

        - Dividends, with a value of 156 116 699 RON

3.     Can you explain how was established the value of the dividend proposed to be distributed by Dacia from the result of the year 2009?

    The dividends proposed to be distributed were established taking into account the net profit accomplished, diminished by the value of distributions according to the legislation and to the collective labour agreement in force.

4.     When was the last time when Dacia offered dividends to shareholders?

    Automobile Dacia also distributed dividends in the year 1998 from the result of the year 1997. Then, the value of the dividend granted was of 7.5 billion old lei, that is 750 thousand lei.

5.     Why wasn’t any profit distributed in other years also until now?

    In the interval 1998 – 2004, the company registered losses, so as it could not grant any dividends.

With regard to the profit accomplished during the accounting periods of 2005 - 2008, the General Assembly of Shareholders, taking into account the level of the losses registered in the preceding years, the importance of the investments accomplished and in accordance with the legal dispositions, decided to replenish the net assets of the company by the recovery of the accounting losses.

For this reason, for the activity performed in the interval 1998 – 2007, there were not distributed any dividends to the shareholders.

6.     What happened to the profit accomplished by Dacia from its takeover by Renault? Why wasn't it distributed to the shareholders?

    Between the years 1999 and 2004, Dacia registered losses. The profit accomplished beginning from 2005 until 2007 (and partially 2008) was used to cover the losses.

7.     How much of the profit accomplished by Dacia from its takeover by the Renault Group was repatriated until now?

    There were distributed only the dividends afferent to the accounting period of the year 2009.

8.     Why the shares of Dacia are not traded at the stock exchange?

    Dacia is a joint-stock company whose capital is held, in a percentage of 99.43% by Renault SA. According to the Romanian legislation, at the moment a majority shareholder reaches to hold over 90% of the capital of a company, it has the obligation to launch a public offer for the takeover of the remainder of the shares existing on the market. At the end of the operations, the shares of the company are taken out of trade from the Stock Exchange.

    Renault unfolded this operation in 2003.

At the end of the period when the public offer of Renault was performed, a number of about 145 000 minority shareholders of Dacia had not sold their shares. 

9.     How has Renault used the money of the minority shareholders until now?

    There must be known that to hold a share in a company is not equivalent to hold a bank deposit, where the money exist physically and can be invested in order to obtain a profit, from which a part comes to the depositor under the form of interest.

In order that Dacia became what it is at present, between 1999 and 2009 there were made investments that exceed 1.2 billion Euros. All of these investments, and also the infusion of technology and competences in the auto field were accomplished exclusively by the majority shareholder, Renault SA.

10.     What can a minority shareholder of Dacia do with his/her shares? Can he/she sell them to Dacia?

    The shareholders of Dacia can assign their shares only by direct transactions to other shareholders or to thirds.

At this moment, S.C. Automobile DACIA S.A does not intend to buy back its own shares. An eventual rebuying will be notified

11.     How are made the decisions regarding the use of the profits accomplished by Dacia? What rights does a minority shareholder have in this respect?

    Decisions are made in the General Assembly of Shareholders, by majority vote.

12.     What are the salaries of the administrators of Dacia?

    The value of the salaries of the administrators of SC Automobile Dacia SA is established by the GAS every year for the current accounting period. At present, the value of this salary is of 1 660  lei, in net amount, per month/person.

13.     How much has Renault invested in Dacia until now?

    The total value of the investments made by Renault SA in Dacia is in an amount of 1.2 billion Euros.

14.     What is the value of the taxes and duties paid annually by Dacia to the Romanian state and to local authorities?

    In 2009, the value of the taxes and duties paid by Dacia to the Romanian state and to the local authorities was in an amount of 80 million Euros.