Renault recorded revenues of 52.4 billion in 2023, up 13.1% (+17.9% at constant exchange rates) on 2022 and a record operating margin of 4.1 billion, equal to 7.9% of revenues, 1, 5 billion more than the previous year with a record operating margin in cars: 3.1 billion equal to 6.3% of revenues, 1.6 billion more than 2022. The car manufacturer recorded a net profit of 2.3 billion (3 billion more from the red in 2022) and can thus distribute a growing dividend of 1.85 euros per share (it was 0.25 euros the previous year).
"Today the Renault group records record results. These results are the fruit of enormous team work and reflect the success of our Renaulution strategy. Our fundamentals have never been stronger and we will not stop here. In 2024 we will benefit from a number of unprecedented vehicle launches, which will showcase the renewal of the Renault Group, while continuing to optimize our cost structure. At the same time, we are advancing the Group's profound transformation at incredible speed, with important steps forward made for our major projects and an acceleration of our EV and software strategy. Our organization offers flexibility and increases performance. This is a strength in a challenging environment! I would like to thank the teams for these results. All together, we are creating a new Renault group much more efficient and performing, which is creating value for all stakeholders", declared Luca de Meo, CEO of the French group.
"In the car, the size (of a manufacturer, ed.) is a condition that remains necessary, but I'm not sure that today it is sufficient" to be successful: this was stated by Renault's number one, Luca De Meo, interviewed by the newspaper Le Figaro.
In certain circumstances, continues the Italian supermanager at the helm of the historic French group, it is better to remain ''very agile'' and ''oriented towards innovation''.
"This - continues the Italian supermanager - works when demand is stable or in weak growth and when the technologies are mature. Merging and focusing on common platforms to achieve economies of scale is relevant in that case. It is, for example, what was done between Chrysler and Fiat. But when demand is volatile and technologies are evolving, it pays to be very agile and oriented towards innovation. This is what we did with Ampere. In internal combustion engines, we focused on the effect of cuts with Geely.
Maybe there will be mergers with some business sectors."
In the interview with Figaro, De Meo also says he is convinced that "we need to make agreements with Chinese players, as we did with Geely and Envision for batteries, and ask ourselves what China can bring to Europe in the decarbonisation of transport".
Do you rule out the possibility of a merger with other car manufacturers?
"On paper - replies Renault's number one, Luca De Meo, interviewed by the newspaper Le Figaro - Tesla could buy Volkswagen or Stellantis: it has the means to do so. Why doesn't it do it? Certainly because it is not that simple and perhaps it is not even so interesting."
"A merger - points out the Italian supermanager at the helm of the large French automotive group - only succeeds when there is the will of both parties. As far as I'm concerned, I try to give a new meaning to Renault. The starting point was very complicated. But in 2023 we achieved historic performances never achieved in the company.
We will continue to make beautiful cars for customers, equipped with good technologies. When you start from this, you are never wrong.
We will also continue to reduce our costs to reduce prices ".
The "future" will be of those car manufacturers who will be able to "adapt to the "tectonic movements" of the industry and "anticipate" the challenges of the future: this was said by Renault's number one, Luca De Meo, during the presentation press conference of the financial results of the historic car manufacturer from Boulogne-Billancourt. For the Italian supermanager at the helm of Renault, responding to the challenges of the future "will not be a walk in the park". But Renault is "ready", does not fear "these scenarios", has underlined De Meo.
"Agility is at the center of our new alliance with Nissan and Mitsubishi": this was said by Renault's number one, Luca De Meo, in the press conference presenting the results of the historic French automotive group.
"My role is to benefit from this new dynamic" and "seize new opportunities", continued De Meo, who insisted on "improving performance", "transparency at all levels of the company" and cost reduction: "it's an obsession", said the Italian supermanager at the helm of Renault.
For further information ANSA Renault Agency: De Meo, "company size is not enough" anymore - Industry and Analysis - Ansa.it "In the car industry, size (of a manufacturer, ed.) is a condition that remains necessary, but I'm not sure that today is enough" to be successful: this was stated by Renault's number one, Luca De Meo, interviewed by the newspaper Le Figaro.
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For further information ANSA De Meo Agency, "merger succeeds only when there is a will on both sides" - Mondo Motori - Ansa.it Do you rule out the possibility of a merger with other car manufacturers?
"On paper - replies Renault's number one, Luca De Meo, interviewed by the newspaper Le Figaro - Tesla could buy Volkswagen or Stellantis: it has the means to do so. (ANSA)
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