Renault Group first half 2024 revenue rose 0.4% year on year to EUR26,958m.
Automotive revenue slipped 1.9% to EUR24,372m.
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A 1.9% increase in registrations was more than offset by a destocking within the dealership network in 2024 H1 compared to an important restocking in 2023 H1.
At 30 June, total inventories of new vehicles was 500,000 vehicles (down 69,000), of which 369,000 were at independent dealers and 131,000 at group level.
The group posted a record operating margin at 8.1% of revenue versus 7.6% in H1 2023.
Automotive operating margin was EUR1,600m versus EUR1,541m and was 6.6% of automotive revenue, an improvement of +0.4 points.
Operating income fell to EUR1,898m versus EUR2,096m a year ago.
Net income was EUR1,380m, including a capital loss on Nissan shares disposal.
Group share of net income was EUR1,293m (or EUR4.74 per share).
The group confirmed its 2024 FY financial outlook of operating margin superior or equal to 7.5%.
