RENAULT Group has announced its half-year results – and it’s a mixed picture.
The group sold 1.33m units in the first six months of this year – that’s down 3.3 per cent on the first-half of 2011. ‘Low sales in Europe were only partly offset by strong international growth,’ said a Renault statement.
Revenues came to €20,935m (£16.3bn), down 0.8 per cent year-on-year, and the group posted an operating margin of €482m (£377m), or 2.3 per cent of revenues, compared with €630m (£492m), or 3.0 per cent of revenues, in the first-half 2011.
The group reported operating income of €519m (£406m) in the first-half of 2012, compared with €772m (£604m) in the first half of of 2011, while net income totalled €786m (£615m), compared with €1,253m (£980m) in the first-half of 2011.
However, thanks to new product launches and the roll-out of the Dacia Duster, the French firm expects 2012 unit sales to exceed the level reached in 2011, ‘provided that there is no further deterioration of the situation in Europe than expected today,’ said the statement.
Commenting on the results, Carlos Ghosn, chairman and CEO of Renault, said: ‘In a difficult and uncertain environment, Renault remains on track to meet its 2012 objective of positive automotive operational free cash flow.’
