Record result for the Renault Group
RENAULT With 51.243 billion. euros, the Group increased its turnover in 2016 by 13.1 percent compared to the previous year. In the same period, new registrations worldwide increased by 13.3 percent to a new record of 3.18 million vehicles. The operating margin improved significantly by 38.2 percent to 3.282 billion euros. This corresponds to 6.4 percent [...]
The Automotive division's contribution to turnover amounted to 48.995 billion euros in 2016, an improvement of 13.7% compared to the previous year.
"After very good results in the first half of the year, the Renault Group has maintained its strong performance and achieved a new record result for the full year 2016," said Carlos Ghosn, President and Chief Executive Officer of Renault. "The targets set in 2011 under the 'Drive the Change' plan were exceeded a year earlier than expected, both in terms of growth and profit. This success is a reward for the strong commitment and hard work of all our employees," said Ghosn.
Outlook 2017
The Renault Group expects global market growth of 1.5 to two percent in 2017 compared to the previous year. The European market is expected to grow by two percent in the same period. The company also anticipates growth of two percent for the French market. Outside Europe, the situation on the Brazilian and Russian markets is likely to stabilize. The Renault Group expects further growth in China (+5 percent) and India (+8 percent).
New strategic plan 2022
Renault will present a new strategic plan for the period 2017 to 2022 later this year. The aim is to increase Group sales to 70 billion euros (at constant exchange rates) and to achieve an operating margin of 7 percent by 2022. Furthermore, a positive free cash flow is targeted every year.
