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Renault's Net Profit Nearly Triples
Renault SA reports its net income jumped to €2 billion last year from €695 million in 2013.
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Renault SA reports its net income jumped to €2 billion last year from €695 million in 2013. Group operating profit climbed 30% to €1.6 billion.
Revenue, excluding foreign exchange effect, rose 3% to €41.1 billion, as unit sales advanced 3% to 2.7 million vehicles. Automotive revenue was virtually flat at €38.9 billion, but the unit's operating profit soared 73% to €858 million.
Renault's 44% stake in Nissan Motor Co. contributed €1.6 billion, up €61 million. But the company's losses from its AvtoVAZ venture in Russia deepened to €182 million last year from €34 million in 2013.
Renault predicts the European and global car markets each will grow 2% in 2015, and emerging markets will remain highly volatile. The group expects to generate unspecified gains in sales, revenue and operating margin this year.
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