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Renault regains profits in the first half of the year

2021-07-30T06:33:45.975Z

The manufacturer recorded a net profit of 368 million euros in the first half, after a difficult 2020.



The Renault group rebounded in the first half with a net profit of 368 million euros, its savings plan being "

ahead

" of its objective, after a very difficult year 2020.

The group announced on Friday an operating margin of 654 million euros over the first six months of the year, or 2.8% of turnover.

This stood at 23.4 billion euros, up 26.8% over one year, against 28 billion before the crisis, in 2019.

Read also: Electric: Renault relies on partnerships to be profitable

Renault - which had lost 7.39 billion euros in the first half of 2020 - announced its target for an operating margin rate for the year of the same order as in the first half, "

despite the uncertainties weighing on demand , the continued negative effects of the components crisis (...) and the rise in the price of raw materials

”. The group stressed that it should achieve the objectives of its savings plan of 2 billion euros "

with a year in advance

": 1.8 billion euros has already been achieved, including more than 600 million euros. euros for this first half, compared to 2019.

The semiconductor crisis continues to slow down assembly and could lead to a production loss of around 200,000 vehicles over the year, Renault warns.

Automotive cash flow (operational free cash flow) was negative at € 70 million.

»We have taken an important step in restoring our financial balance, in particular with the close return to balance in our free cash flow over this half-year.

Our solid liquidity position allows us to pursue our recovery with confidence, ”said Clotilde Delbos, Renault Group Chief Financial Officer.

Source: lefigaro

All business articles on 2021-07-30

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