Renault Posts HY Profit

French automaker Renault SA (RNSDY.PK,RNSDF.PK,RNT.L) reported that its net income group share for the first-half of 2021 was 354 million euros or 1.30 euros per share compared to a loss of 7.29 billion euros or 26.91 euros per share in the first half of 2020.

Net financial income and expenses amounted to negative 163 million euros, compared to negative 214 million euros in the first half of 2020.

The contribution of associated companies came to 160 million euros, compared to negative 4.89 billion euros in the first half of 2020. It is worth noting that Nissan contribution in the first half 2020 included negative 4.29 billion euros of impairments and restructuring costs.

Group revenues were 23.36 billion euros, up 26.8% from last year. At constant exchange rates and perimeter, Group revenues would have increased by 31.8%.

The company said it aims to reach a full year operating margin rate of the same order as the one of the first half, despite the uncertainties in demand, the continuing negative effects of the components crisis which could lead to a production loss of about 200,000 units over the year and rising raw materials prices.

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