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






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