Renault has posted an operating margin of EUR583m (US$628m) million in the first half of 2013, although recorded a provision of EUR512m to cover its exposure in Iran.

Group revenues were EUR20.4bn, down 0.9% on the first-half of 2012, while Group operating margin was EUR583m compared to EUR508m.

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Renault said net income was EUR97m compared with EUR774m in the first half of 2012.

“In a difficult environment, the success of new models, cost controls and the commitment of all the teams enabled the Renault group to post a positive operating margin for automotive in the first half year,” said Renault chairman and CEO, Carlos Ghosn.

“We are on track to achieve the objectives we announced for 2013.”

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