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Renault achieves a record profit of 5,210 million euros in 2017, 47.1% more

Automotive News

The Renault Group achieved a record profit of 5,210 million euros in 2017, 47.1% higher than in 2016, when it earned 3,543 million euros, according to the French automobile consortium.

Without considering non-recurring revenues of 1,021 million euros for Nissan related to the tax reform approved at the end of 2017 in the United States and with the benefit of the transfer of the stake in Calsonic, the net result of Renault would have been 4,189 million of euros in 2017, 18.2% more.

“2017 has been a new record year for the Renault Group.” Commercial and financial results are the result of the strategy developed several years ago and the efforts of all the Group’s employees.

With these results and the implementation of our strategic plan ‘Drive The Future’, we are confident in our ability to overcome the current and future challenges of the automotive industry, “said the president of the firm, Carlos Ghosn.

The automaker has highlighted that 2017 was “the best year in its history”, with record sales, turnover, operating margin and net result.

Thus, its registrations increased by 8.5% last year, to 3.76 million units, and the Group’s turnover increased by 14.7%, to 58.770 billion euros, of which 2.727 million of euros corresponded to Avtovaz. Without the effect of the consolidation of Avtovaz, the turnover of the signature of the diamond increased by 9.4% in 2017.

The operating income of the Renault Group reached 3,806 million euros last year, compared to 3,283 million euros in 2016, which represents an increase of 15.9% in relative values.

Renault bets on the renovation of Goshn
Parallel to and reinforced by the excellent results, the Board of Directors of Renault announced that it will propose at the Shareholders’ Meeting on June 15 that the mandate be renewed for four more years of the Franco-Brazilian Carlos Ghosn, 64, as responsible for the car manufacturer, a position he has held since 2005.

In addition, the administration of the diamond firm announced that the executive has appointed the responsible for competitiveness Thierry Bolloré, 54, as its number two, since it was vacant since 2013 after the departure of Carlos Tavares, current CEO of PSA.

Among the challenges of Ghosn, highlights the strategic plan ‘Drive the Future 2017-2022’, by which Renault aims to increase its turnover from 50,000 million euros in 2016 to 70,000 million in 2022.

Europa Press – 02/16/2018 (Translation Soft)

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