Mexican Media Brands
Renault Revenue, Earnings Rise
Renault Group increased revenue 12% to €22.2 billion and hiked its operating profit 47% to nearly €1.1 billion in the first half of 2015.
#economics
Share
Renault Group increased revenue 12% to €22.2 billion and hiked its operating profit 47% to nearly €1.1 billion in the first half of 2015. Net income for the period jumped 83% to €1.5 billion.
But results trailed those of rival PSA Peugeot Citroen, causing Renault's share price on Thursday to drop to its lowest level in almost four years.
Renault says its stake in Nissan Motor Co. contributed about €982 million, but its holding in Russia's OAO AvtoVAZ generated a €70 million loss in the first half.
Renault's automotive revenue grew 12% to €21.1 billion in January-June. The unit's operating profit soared 89% to €656 million in spite of a less favorable sales mix, thanks to higher volume and lower costs. The company reported earlier this month that its global sales in the first half advanced about 1% to 1.38 million units.
Revenue generated by Renault's financial operations grew 8% to €413 million in the first half.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.