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Renault posts record biannual profit of 2,379 million, 58% more

The French automotive group Renault posted a record net profit of 2,379 million euros in the first half, 58% more than in the same period of 2016, driven by sales And reducing costs, the company said in a statement.

The French automotive group Renault posted a record net profit of € 2,379m in the first half, 58% more than in the same period of 2016, Driven by sales and cost reduction, the company said in a statement.

Operating income for the first nine months of the year amounted to 1,789 million euros, compared to 1,476 million for the first Half of 2016, which are explained by "the progression of the operating margin and the reduction of other operating expenses".

The operating margin of the group also set a record for To reach 1,820 million euros (1,541 last year) and already represent 6.2% of the total turnover, the company said in the note.

The turnover reached 29,537 Million, an increase of 17.3% compared to a year ago, which in the automotive sector (excluding the Russian subsidiary AvtoVaz) reached 26,995 million, an increase of 12.1% thanks to the Rise in the volumes of the group's brands and sales.

This dynamism was mainly felt, according to the group, in Iran and China, as well as in the sale of vehicles Assembled in Europe, "especially with the start of Nissan Micra production."

Raw material prices had a negative effect of 132 million euros on Operating margin of the company, which also weighed the impact of currencies (-99 million euros), particularly the depreciation of the pound sterling.

For the president Of Renault, Carlos Ghosn, the results "are the fruit of our plan of renewal of range, of our geographic expansion and the commitment of all the collaborators".

"This performance Assures us a solid basis for launching our next strategic plan and allows us to confirm the objectives for this year, "he said, after rating the figures presented "Record".

In its outlook for the year as a whole, Renault expects growth in the world automotive market from 1.5% to 2.5%, which in Europe should surpass 2%, as well as in the French market.

Growth forecasts are even higher in markets such as Russian, Brazilian and Chinese markets, all around 5% While for India the group anticipates an increase of 8%.

In this context, Renault has, after AvtoVaz's consolidation, increased its turnover and operating margin, As well as generate a positive operating cash flow in your car business.

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