New Delhi:French multinational automotive maker Renault Group reported that its group’s revenue reached 21,121 million euros, 0.3% more than in 2021 H1.
The group’s automobile income was €19,574 million, up 0.3% compared to 2021 H1, it reported.
The addition of the Jogger and Megane E-Tech Electric in the H1 to the Arcana, introduced in the second quarter of 2021, emphasized the renewal of the Renault logo within the C phase and contributed to creating a good product-mix effect.
The group recorded a good working margin of EUR 988 million (4.7% of earnings), compared to EUR 432 million in 2021 H1 (+2.6 issues).
Automobile working margin increased from EUR 565 million to EUR 420 million (2.1% of automotive income) or +2.8 points in contrast to 2021 H1.
Taking into account the various working sources of revenue and bills, the Group’s working source of revenue was EUR 939 million as against EUR 362 million in 2021 H1.
The net monetary source of revenue and bills stood at -EUR 236 million compared to -EUR 138 million in 2021 H1. This decline can also be defined through the effect of hyperinflation in Argentina, with the price of debt remaining strong.
The respective firms’ contribution amounted to EUR 214 million, which when combined with the primary part of 2021 was EUR 54 million. This includes EUR 325 million linked to Nissan’s contributions, more than offset by EUR 111 million in disastrous contributions from various peers, notably in the context of the loss of shares of Renault Nissan Bank in Russia.
“The Renault Group is fully striving for its deep transformation and transformation of its activities. These first half results are proof of this: despite all the constraints related to the shutdown of activity in Russia, the semiconductor crisis and cost inflation, the group continues to improve its operating performance and is beginning to benefit from the success of new launches , said Renault Group CEO Luca de Meo.
Outlook and strategy
Renault Group is upgrading its 2022 financial outlook with an improved group operating margin of 5%, up from around 3% previously and an automotive operational free cash flow better than 1.5 billion euros, which was positive earlier.