Renault posts historic performance in 2017
Renault Group revenues came to €58,770 million (+14.7%), including €2,727 million for AVTOVAZ. Excluding the impact of the AVTOVAZ consolidation, Group revenues increased by 9.4% to €56,043 million (+10.1% at constant exchange rates).
The Group’s operating margin amounted to €3,854 million, and represents 6.6% of revenues.
Sales Finance contributed €1,050 million to the Group’s operating margin, compared with €896 million in 2016. This 17.1% increase is mainly due to the increase in average performing assets (+18.9%), reflecting the strong sales momentum of RCI Banque.
The Group’s operating income came to €3,806 million, compared to €3,283 million in 2016 (+15.9%).
In 2018, the global market is expected to grow 2.5% vs 2017. The European market is expected to expand 1% with an increase of 1% for France.
The Group is aiming to:
– Increase Group revenues (at constant exchange rates and perimeter)
– Maintain Group operating margin above 6.0%
– Generate a positive Automotive operational free cash flow
“2017 was another record year for Groupe Renault. The commercial and financial results are the outcome of our strategy deployed over the past years and the efforts of all the group’s employees. With this performance, and the implementation of our new strategic plan “Drive The Future”, we are confident in our ability to face the current and future challenges of the automotive industry”, said Carlos Ghosn, Chairman and Chief Executive Officer of Renault.