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Renault Posts Profit In 2021; Group Revenue Up 6.3%

Renault SA (RNSDY.PK,RNSDF.PK,RNT.L) said the Group largely exceeded its 2021 financial targets despite the impact of semiconductor shortages and rising raw material prices. Operating margin was 3.6%, reaching, two years ahead of schedule, the Renaulution objective of an operating margin above 3% in 2023.

Fiscal year net income Group share was 888 million euros compared to a loss of 8.01 billion euros, last year. Profit per share was 3.26 euros compared to a loss of 29.51 euros.

Group revenue was 46.21 billion euros, up 6.3% compared to prior year. At constant scope and exchange rates, revenue increased by 8.0%. Automotive revenue excluding AVTOVAZ was 40.40 billion euros, up 7.1%. Automotive operational free cash flow was positive at 1.27 billion euros.

For fiscal 2022, the Group targets: a Group operating margin superior or equal to 4%; and an Automotive operational free cash flow superior or equal to 1 billion euros.

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