Thanks to its price increases, the manufacturer is doubling its operating margin. It raises its profit growth target for 2022 to 5%.
The collapse in sales is not so dramatic for Renault. The group has admittedly sold only 1 million vehicles since the start of the year, i.e. 11.9% less than in the first half of 2021. But it still managed to achieve a stable turnover, to 21.1 billion euros. Thanks to the increase in its prices, Renault generated operating profit of 988 million euros, i.e. a margin of 4.7%, twice that of 2021. growth in its operating profit for 2022. The markets welcomed this good news: Renault’s stock price jumped 5.10% on Friday.
However, the year had started off badly. The war in Ukraine forced it to sell its lucrative Russian subsidiary AvtoVAZ (Lada) for a symbolic 1 rouble. The provision then passed (2.3 billion euros) weighed down the group’s accounts. Renault posted a net loss of 1.36 billion over the half.
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