Renault, like French rival PSA Peugeot Citroen, has booked a dramatic turnaround in group operating profit for full year 2010.
Operating income was EUR635m, compared to -EUR995m in 2009, on sales up 15.6% to EUR38.97bn.
Go deeper with GlobalData
A capital gain of EUR2bn was made on the sale of the B shares in truck maker Volvo AB.
Associated companies – Nissan Motor and Volvo Trucks – contributed EUR1,289m.
Net income was EUR3.49bn compared with a loss of EUR3.07bn in 2009.
Carlos Ghosn, chairman and CEO, said: “The publication of the final financial results confirms that Renault’s performance was higher than expected.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAs with other automakers, Renault said growing sales in developing markets helped automotive division sales rise 16.3% to EUR37.17bn.
Renault expects the global automotive market for passenger cars and light commercials to grow by 6% compared to 2010.
“Markets outside Europe will remain dynamic while the European market should pursue consolidation (0% to -2%), notably with a decline in the French market of around -8%,” it said.
