Renault has posted full-year group operating profit up 44% to EUR2.3bn (US$2.6bn), while revenue rose 10.4% to EUR45.3bn.

New registrations were up 3.3% to 2.8m units and automotive operating profit increased by 74.4% at to EUR1.5bn (3.5% of automotive revenues versus 2.2% in 2014).

Associated companies’ contributions amounted to EUR1.4bn (versus EUR1.362bn in 2014), including AvtoVAZ’s negative contribution.

“2015 results mark a decisive step towards the achievement of our plan ‘Drive the Change’ targets,” said Renault chairman and CEO, Carlos Ghosn.

“The involvement of all our staff and the success of our vehicles allowed us to reach our operating margin target sooner than planned.

“We must now achieve our revenue target while maintaining a margin in excess of 5%.”

Renault adds the global market is expected to record growth of 1% to 2% compared with 2015 next year. The European market is expected to increase by 2%, with a 2% increase also for France.

At the international level, the Brazilian and Russian markets are expected to decline further, by 6% and 12% respectively.

 China (+4% to +5%) and India (+8%) should pursue their momentum.