logo
Plus   Neg
Share
Email

Groupe Renault FY19 Operating Income Declines; Revenues Down 3.3%

Groupe Renault (RNSDY.PK,RNSDF.PK,RNT.L) reported a net loss, Group share, of 141 million euros for fiscal 2019 compared to profit of 3.30 billion euros, prior year. Group operating income declined to 2.10 billion euros from 2.99 billion euros. Net income was at 19 million euros compared to 3.45 billion euros, previous year. The company said the decline came mainly from lower associated companies' contribution, down 1.73 billion euros, and a charge of deferred tax in France for 753 million euros.

Fiscal 2019 Group revenues were 55.54 billion euros, down 3.3%. Excluding currency impact, Group revenues were down 2.7%. Automotive excluding AVTOVAZ revenues decreased 4.2% to 49.00 billion euros. Sales were at 3.8 million units, down 3.4%. The company said the decline was due to a negative volume effect of 1.4 points notably linked to lower sales in Argentina, Turkey and Algeria.

Automotive operational free cash flow, including AVTOVAZ, was positive at 153 million euros, for the fiscal year.

For 2020, Groupe Renault aims: Group revenues in line with 2019 at constant exchange rates, Group operating margin between 3% and 4%; and a positive automotive operational free cash flow before restructuring expenses.

Groupe Renault will submit a dividend of 1.10 euros per share for approval at the AGM.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
WeWork's parent company, We Company, said it has filed a lawsuit against Japanese conglomerate SoftBank Group Corp. for failing to consummate a $3 billion tender offer for the company's shares. After WeWork's failed attempt at an initial public offering last year, SoftBank acquired a majority stake in the office sharing company in a bailout, severing most ties with WeWork co-founder Adam Neumann. Walgreens is expanding drive-thru testing for the coronavirus to fifteen new locations in seven states across the U.S. later this week. They include Arizona, Florida, Illinois, Kentucky, Louisiana, Tennessee and Texas. The drive-thru locations are part of Walgreens' collaboration with the administration, federal health agencies, and state and local authorities to expand access to COVID-19 testing. iPhone assembler Foxconn, otherwise known as Hon Hai Precision Industry Co. Ltd., is reportedly set to start manufacturing ventilators in the United States in partnership with medical device firm Medtronic plc., as the U.S. braces for the cornavirus (COVID-19) infection peak. Taiwan-based Foxconn will start manufacturing ventilators at its Wisconsin factory within the next four to six weeks.
Follow RTT
>