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February 1, 2011

FRANCE: Renault revenue and margins improves

Renault has estimated revenues up 15.6% year on year to EUR38.97bn for 2010, ahead of official figures on 10 February.

Renault has estimated revenues up 15.6% year on year to EUR38.97bn for 2010, ahead of official figures on 10 February. 

Estimated operating margin is 2.8% of revenues, compared with -1.2% in 2009. 

Net income will include the contribution from associated companies, as well as a capital gain of EUR2bn from the sale of the B shares of truckmaker Volvo AB. 

Estimated automotive operational free cash flow reached EUR1.67bn for 2010 exceeding the previously announced objective of EUR700m, as a result of stronger revenues in the last-quarter and with the full year change in working capital requirement ending up as a positive impact.

Net automotive financial debt is estimated at €1.43bn. The estimated available liquidity reserve reached a record level of EUR12.8bn, of which a part will serve to reimburse ahead of schedule the remaining EUR2bn of the French state loan, as authorised in the contract.  

Carlos Ghosn, Chairman and CEO of Renault , said: “Renault can already announce that, driven by record commercial results in a growing world market and good cost control, the group has largely exceeded its annual free cash flow objective and reduced net automotive debt to EUR1.4bn.”

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