Renault group automotive revenue in the first half of 2022 at 19,574 million euros, Auto News, ET Auto

New Delhi:

French multinational carmaker Groupe Renault announced that its revenue reached 21,121 million euros, up 0.3% compared to the first half of 2021.

The Group’s automotive sales amounted to 19,574 million euros, up 0.3% compared to the first half of 2021, he said.

The success of Arkana, launched in Q2 2021, as well as those of Jogger and Mégane E-TECH Electrique in H1, underlined the renewal of the Renault brand in the C segment and contributed to generating a positive product mix effect.

The Group recorded a positive operating margin of 988 million euros (4.7% of revenue) compared to 432 million euros in H1 2021 (+2.6 points).

The Automotive operating margin rose from €565 million to €420 million (2.1% of Automotive revenue, i.e. +2.8 points compared to the 1st half of 2021).

After taking into account other operating income and expenses, the Group’s operating income amounted to 939 million euros compared to 362 million euros in the 1st half of 2021.

Net financial income and expenses amounted to -236 million euros compared to -138 million euros in the 1st half of 2021. This deterioration is explained by the impact of hyperinflation in Argentina, the cost of debt remaining steady.

The contribution from associates amounted to €214 million, up €54 million compared to the first half of 2021. This includes €325 million related to the contribution from Nissan, which more than offset the €111 million in negative contributions from other associated companies, particularly in connection with the impairment of Renault Nissan Bank shares in Russia.

Groupe Renault automotive revenue in the first half of 2022 at 19,574 million euros

“Groupe Renault is resolutely pursuing its in-depth transformation and the recovery of its activities. These first-half results are proof of this: despite all the headwinds linked to the shutdown of activity in Russia, the semiconductor crisis and cost inflation, the Group continues to improve its operational performance. and is starting to benefit from the success of new launches,” said Luca de Meo, CEO of Groupe Renault.

Outlook & Strategy

Groupe Renault is raising its financial outlook for the 2022 financial year with a Group operating margin above 5%, compared to approximately 3% previously and Automotive operating free cash flow above 1.5 billion euros, against positive before.

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At 16.5%, the operating margin is well above that of the previous year and above the target strategic corridor of 9 to 11%. Earnings were driven by good price position, strong operating performance from luxury brands Lamborghini and Bentley and support from commodity hedging, the company said.

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