[ad_1]
Renault on Friday posted a net profit down 18.6% to 1.95 billion euros in the first half, due to a lower contribution from its Japanese partner Nissan, while posting a record profitability of its operations. Even though it was strongly affected by the evolution of currencies and commodities, Renault posted a turnover and a historical margin.
The turnover of the group (brands Renault, Dacia, Lada, Samsung, Alpine) has set a new record, up 1.4%, to 29.96 billion euros and achieved an operating margin equivalent to 6.4% of its sales (+0.2 point in one year), says the
Renault, which generates nearly half of its sales outside Europe, has nevertheless suffered the fall of several currencies (Argentine peso, Brazilian real, dollar, ruble). At constant exchange rates and perimeter, the rise in activity would have reached 6.8%.
The CEO Carlos Ghosn, quoted in the press release, confirmed the forecasts for 2018: "These results […] make us confident to achieve our goals. The diamond group is still forecasting record activity over the year and an operating margin above 6%.
Models to be approved
The manufacturer took advantage of the recovery of its Russian subsidiary Avtovaz (Lada). In addition, its 4 x 4 low-cost urban, the new Duster version, and the small Kwid, which has just been launched in Brazil and Argentina, are "successes," said the managing director, Thierry Bolloré. However, for certain versions, they will have to pbad the filter of the new WLTP standards, which is not achieved either for some Renault.
In addition to the commercial performance, the group attributed the progress in terms of profitability to "Profits from the alliance" with Nissan and Mitsubishi, which makes it possible to share the investments, but also to the efforts of "cost reduction".
The French rival PSA (Peugeot, Citroën, DS), more centered on the Europe, had published Tuesday a net profit "record" – lower than that of Renault – up 18% to 1.48 billion euros in the first half, thanks to faster than expected recovery of its subsidiary Opel. Its operating margin was higher than that of Renault at 7.8%.
Source link
