Press release
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21222014 Groupe Renault - Financial Results 2018 Conference
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february 14, 2019 - Renault
Groupe Renault maintained its operating margin at a high level despite a more challenging environment in the second half
Sales were up 3.2% to 3.9 million units including Jinbei and Huasong brands as of January 1, 2018.
Group revenues were down 2.3% to €57,419 million. At constant exchange rate1, revenues would have risen by 2.5%.
Group operating margin of €3,612 million, represented 6.3% of revenues compared to 6.6% in 2017. Excluding IFRS 15 impact, the operating margin would have been 6.5%, down 0.1 points compared to 2017.
Group operating income stood at €2,987 million compared to €3,806 million. This decrease is notably due to the Argentinean crisis impact and provisions relating to the early retirement program in France.
Net income of €3,451 million compared to €5,3082 million. This decline came mainly from Nissan’s contribution, down €1,282 million, which notably benefited in 2017 from a one-off gain of €1,021 million.
Positive #automotive operational free cash flow of €607 million.
"In 2018, Groupe #renault maintained its strong performance, despite the business environment deterioration. The commercial and financial results demonstrate the Group's resilience and its rapid adaptation to a more challenging environment. This performance is the result of a clear strategy, increasingly stringent execution and the efforts of all Group employees," commented Thierry Bolloré, Chief Executive Officer of Renault.
Boulogne-Billancourt, February 14, 2019: Group revenues reached €57,419 million (-2.3%), including €3,040 million for AVTOVAZ (+11.5%). Excluding currency impact, Group revenues increased by 2.5%.
Automotive excluding AVTOVAZ revenues decreased -4.4% to €51,171 million, including the negative impact from the change in interest rate subsidies allocation between the #automotive excluding AVTOVAZ segment and Sales Financing of €555 million.
This change mainly reflects a negative currency effect of -4.1 points, lower volumes (-0.5 points) and sales to partners (-1.8 points). The downturn in sales to partners was mainly the result of the Iranian market closure and the decline in European demand for diesel. In contrast, the price effect was positive +1.4 points thanks to price increases in emerging countries as well as Europe. The model mix was slightly negative at -0.2 points. The "Others" effect (+0.8 points), including the aforementioned change in allocation, was due in particular to the strong performance of the used vehicle and spare parts activities, and lower sales with buy-back commitments.
The Group’s operating margin amounted to €3,612 million and represented 6.3% of revenues.
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