Daily Management Review

Renault reports decrease in profit


02/14/2019


The French giant Renault is entering the new era without Carlos Ghosn. For the first time in five years, the company reported drop in profits against the background of declining sales in China and the weaker contribution of the Japanese partner Nissan Motor, in which Renault holds 43.4% of the shares.



pexels
pexels
Nissan's contribution amounted to € 1.51 billion, which is 46% less than in 2017, when the profit of the Japanese automaker was inflated due to one-time profits.

Total revenue fell by 2.3% to € 57.42 billion, while current operating income fell 6.3% to € 3.61 billion. Net profit was € 3.3 billion compared to € 5.31 billion, recorded in 2017, which partially reflects the exceptional profits of Nissan a year earlier.

Own results of the French automaker is also not encouraging. According to a published report, Renault's net profit fell by 37% to € 33.2 million ($ 37.4 million) in 2018. Sales for this period amounted to € 57.42 billion, which is 2% less than a year earlier.
The Renault report also outlines the prospects and forecasts for the current year. The company believes that the global automotive market will be stable in 2019. At the same time, the concern expects a yield of “about 6%” in 2019 compared with 6.3% of the operating margin recorded last year.

source: bloomberg.com






Science & Technology

Apple to come up with AR glasses

WEF: Big data regulation becomes a problem

Israeli Firm Accused Of Spying By WhatsApp, Lawsuit Filed Against It

Google Used Quantum Computer To Solve Complex Problem

Mars Had Earth-like Salt Lakes

Study: AI is not as profitable as you might think

Porsche, Boeing set to develop flying electric car

Samsung to invest $ 11 billion in new generation displays

US is betting on Nokia and Ericsson to replace Huawei

UPS becomes first to receive full regulatory approval for UAV shipping in USA

World Politics

World & Politics

Vale hiding information about problems at Brazilian dams could result in death of 270 people

US Lawmakers Introduce Bill About Xinjiang Uygur Camps In China

European Council agrees to extend Brexit again

Pressure From China Forces Maserati To Dissociate From Film Awards Event In Taiwan

China to replace Hong Kong's Carrie Lam

Iran warns of new reduction in nuclear deal liabilities

Dominican Republic lost $ 200 million because of scandal with tourists death

France: We will take measures to protect our military in Syria