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Renault from 3.30 billion euros in profit to 141 million euros in loss

Christian Fernsby ▼ | February 14, 2020
Renault reported a net loss, Group share, of 141 million euros for fiscal 2019 compared to profit of 3.30 billion euros, prior year.
Renault   Net income was 19 million euros
Group operating income declined to 2.10 billion euros from 2.99 billion euros.

Topics: Renault

Net income was 19 million euros compared to 3.45 billion euros, previous year.

The company said the decline came mainly from lower associated companies' contribution, down 1.73 billion euros, and a charge of deferred tax in France for 753 million euros.

Fiscal 2019 Group revenues were 55.54 billion euros, down 3.3%.

Excluding currency impact, Group revenues were down 2.7%.

Automotive excluding AVTOVAZ revenues decreased 4.2% to 49.00 billion euros.

Sales were at 3.8 million units, down 3.4%.

The company said the decline was due to a negative volume effect of 1.4 points notably linked to lower sales in Argentina, Turkey and Algeria.

Automotive operational free cash flow, including AVTOVAZ, was positive at 153 million euros, for the fiscal year.

For 2020, Groupe Renault aims: Group revenues in line with 2019 at constant exchange rates, Group operating margin between 3% and 4%; and a positive automotive operational free cash flow before restructuring expenses.

Groupe Renault will submit a dividend of 1.10 euros per share for approval at the AGM.