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RNO Renault SA

46.795
0.38 (0.82%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Renault SA EU:RNO Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.38 0.82% 46.795 46.60 46.82 47.12 46.42 46.45 895,026 16:40:00

Renault Profit Helped by Weak Euro

30/07/2015 7:01am

Dow Jones News


Renault (EU:RNO)
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By Jason Chow

PARIS--French car maker Renault SA (RNO.FR) reported a sharp 86% rise in profit as a strong European market and a low euro boosted results, while a bigger dividend from Nissan Motor Co. offset lower sales in its emerging markets.

Renault posted a profit of 1.4 billion euros ($1.54 billion), far higher than the EUR749 million earned during the same period a year earlier. Revenue rose 12% to EUR22.2 billion, up from EUR19.82 billion as European demand made up for weak sales in Brazil and Russia, two countries that have been former engines of growth.

"Thanks to a stronger than forecasted recovery in a European market, and despite a more adverse environment in our main emerging markets," Renault had a strong first half, said Chief Executive Carlos Ghosn.

Renault said the weak euro contributed 1.2% in revenue growth.

Unit sales of all cars were nearly flat, up just 0.8%. However, sales of Renault and Dacia cars rose 9.3% during the first six months, offsetting a 20% decline in the Americas region and a 10% decrease in the Eurasia region, which includes Russia.

Renault is in an alliance with Nissan Motor Co. and owns a 43% stake in the Japanese car maker. Nissan contributed EUR979 million in profit to Renault's bottom line, up 24%. Renault's stake in a Russian car maker accounted for a EUR70 million loss, higher than the EUR55 million loss from the same period in 2014.

-Write to Jason Chow at jason.chow@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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