“Renault Group’s results have largely exceeded its financial targets for 2021, despite the impact of the shortage of semiconductors and rising raw material prices. This is a reflection of the fast pace the profound transformation of the group“. With these few but significant words, Luca De Meo, the CEO of the Renault group, positively welcomed the return to profit of Losanga: the year 2021 closed with a net profit of 967 million eurosa nice step forward compared to the losses of 8 billion recorded the previous year and the red of 141 million marked in 2019.
However, the positive responses do not come only from the useful. THE revenues, for example, in the same period they amounted to 46.2 billion euros, up 6.3% on 2020, with an operating margin of 3.6%, an improvement of 4.4%, and the return to operating profit of 1.4 billion. On the other hand, registrations are down: in the year 2021 the Renault group delivered 2.7 million new vehicles, 4.4% less than in 2020. Through an official note, the Losanga group made it known that despite the return to profit and results exceeding analysts’ expectations, the board decided not to propose payment of the coupon.
Renault obviously enjoys the relative success of 2021, but is already starting to think about future. And draws the first estimates: the goal is to increase the operating margin to at least 4% for the current year and to generate automotive operating cash flows of at least 1 billion, despite the fact that negative responses will probably arrive from the market. (there is talk of 300,000 cars that will not be produced due to the shortage of semiconductors). “Expected on reimbursement of 1 billion euros of the 4 billion euro loan guaranteed by the French state and disbursed to the manufacturer after the outbreak of the pandemic – we read in Il Sole 24 Ore on newsstands this morning – The payment is in addition to the billion that must be repaid this year. Renault plans to repay the loan in 2023 at the latest.
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