Renault's Financial Results For The First Half of 2011

For the first half 2011, Renault has announced a net income of €1,253 million, which is up 52 per cent alongside a positive Automotive operational free cash flow of €121 million.

During the first half-year, sales were up 1.9 per cent, with 1.3 million units sold, help leading to group revenues of €21,101 million, a 7.3 per cent increase year on year.

Renault's net income was up compared to the first half of 2010 from €823 million up to €1,253 million. Operating income is up €54 million totaling €772 million in first-half 2011.

Renault reported revenues of €21,101 million for the first half of 2011, which is a 7.3 per cent increase, of which Automotive contributed €20,143 million.

Carlos Ghosn, Chairman and CEO of Renault, said: "The sales record in the first half confirms the Group’s strong potential for international growth. The financial results were impacted by external events, including supply constraints, which will subside in the second half, and a considerable increase in the cost of raw materials. In this context, the Group confirms its objective of operational free cash flow above €500 million for 2011."

Published : 29/07/11 Author : Staff

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