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Renault EU:RNO-EUR Euronext Common Stock
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Renault 2018 Profit Slumped; Maintains Dividend

14/02/2019 7:21am

Dow Jones News


Renault (EU:RNO-EUR)
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   By Max Bernhard 
 

Renault SA (RNO.FR) said Thursday that net profit slumped in 2018, despite a significant contribution from Japanese partner Nissan Motor Co. (7201.TO), and said it would keep its dividend at the previous year's level.

Net profit last year fell to 3.30 billion euros ($3.73 billion) from EUR5.21 billion a year ago. Revenue decreased 2.3% to EUR57.42 billion, the French auto maker said.

Renault's alliance partner Nissan contributed EUR1.51 billion to the results, it said. The company adjusted some of its 2017 figures due to accounting changes.

The French auto maker said it will propose a dividend of EUR3.55 a share, the same as last year.

Looking to the year ahead, Renault said it expects European and global markets to remain stable if there isn't a disorderly Brexit.

The company said it targets to increase revenue excluding currency effects and aims for an operating margin of about 6%. It's goal is to generate a positive operational free cash flow in the year.

 

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

February 14, 2019 02:06 ET (07:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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