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Renault’s Net Income Jumps 48%
Renault SA reports its revenue in 2015 rose 10% to €45.3 billion ($51.3 billion), and net income grew to nearly €3 billion ($3.3 billion) from €2 billion in 2014.
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Renault SA reports its revenue in 2015 rose 10% to €45.3 billion ($51.3 billion), and net income grew to nearly €3 billion ($3.3 billion) from €2 billion in 2014.
Vehicle sales advanced 3% to 2.8 million units last year. Group operating profit jumped 44% to €2.3 billion ($2.6 billion). Renault’s 44% stake in Nissan Motor Co. contributed €2 billion in operating income compared with €1.5 billion in 2014.
Renault’s own automotive operating profit last year surged 74% to €638 million ($722 million). Most of the gain came from volume growth (€480 million) and cost cutting (€537 million).
The company’s 44% stake in Nissan Motor Co. contributed €2 billion in operating income compared with €1.5 billion in 2014.
Results for 2015 were tempered by a €395 million ($447 million) net loss for the year on the company’s stake in Russian carmaker OAO AvtoVAZ and a €225 million ($254 million) impairment loss on the adjusted value of its AvtoVAZ shares. Renault says its equity in the company at the end of 2015 was worth €91 million.
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