Renault has posted net income up 47% to EUR5.2bn (US$6.5bn), while operating income rose 16% to EUR3.8bn.
Registrations increased 8.5% to 3.76m units, while Group revenue rose 15% to EUR58.8bn (+9.4% excluding the AvtoVAZ consolidation effect).
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“2017 was another record year for Groupe Renault,” said Renault chairman and CEO, Carlos Ghosn. “The commercial and financial results are the outcome of our strategy deployed over the past years and the efforts of all the group’s employees.
“With this performance and the implementation of our new plan, ‘Drive The Future,’ we are confident in our ability to face the current and future challenges of the automotive industry.”
Automotive, excluding AvtoVAZ revenues, amounted to EUR53.5bn (+9.3%) mainly due to volume growth (+3.3 points) and to the increase in sales to partners (+2.6 points). The latter reflects the start of production of Nissan Micra in France and the positive momentum of CKD2 activities for Iran and China.
The Group’s operating margin amounted to EUR3.9bn and represents 6.6% of revenues.
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By GlobalDataThe operating margin of AvtoVAZ (non-consolidated in 2016) amounted to EUR55m, i.e. 2% of its revenue.
In 2018, the global market is expected to grow 2.5% vs 2017. The European market is forecast to expand 1% with an increase of 1% for France.
At international level, Russia is expected to grow by close to 10%. Brazil, as well as China, are estimated to grow by more than 5% and India by 6%.
