(AOF) – Renault announces a strong improvement in all its financial indicators in 2023 with a turnover of 52.4 billion euros, up 13.1%. It increased by 17.9% at constant exchange rates year-on-year. The group’s operating margin reached a “record” at 4.1 billion euros, up 1.5 billion euros over one year. It represented 7.9% of turnover, an improvement of 2.4 points. At 2.3 billion euros, net profit increased by 3 billion euros compared to 2022.
A “significantly” higher dividend of 1.85 euros will be put to the vote on May 16, compared to 0.25 euros in 2022.
In 2024, Renault Group is targeting a group operating margin greater than 7.5% and a free cash flow of at least 2.5 billion euros, for a historic year with 10 new vehicle launches.
Luca de Meo, CEO of Renault Group, affirms that these “record results” are “the fruit of incredible teamwork”. “Our fundamentals have never been so solid and there is no question of stopping there,” he adds: “we are transforming the group in depth and at incredible speed, with the achievement of major milestones for our main projects and the acceleration of our electrical and software strategy”.
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
