Renault: H1 net income halved
(CercleFinance.com) - Renault has published H1 2019 net income that has been halved to 1,048 million euros, badly hit by the reduced contribution from Nissan, with operating profit of 1,654 million euros, or 5.
9% of sales.
Sales came in at 28,050 million euros, down 6.4% as reported and down 5% like-for-like, for a sales volume that is down 6.7% at 1.94 million units in a global market that is down 7.1%.
Renault has confirmed its 2019 operating margin target of around 6%, with positive free operating cash flow from its automotive business, although now only expects sales to be close to their level last year (at constant exchange rates and consolidation scope).
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9% of sales.
Sales came in at 28,050 million euros, down 6.4% as reported and down 5% like-for-like, for a sales volume that is down 6.7% at 1.94 million units in a global market that is down 7.1%.
Renault has confirmed its 2019 operating margin target of around 6%, with positive free operating cash flow from its automotive business, although now only expects sales to be close to their level last year (at constant exchange rates and consolidation scope).
Copyright (c) 2019 CercleFinance.com. All rights reserved.