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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Renault    RNO   FR0000131906

RENAULT (RNO)
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Renault : achieves record €58.8 billion in sales

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02/16/2018 | 01:36pm CEST

French auto giant Renault said on Friday that it enjoyed a record year in 2017 in sales and net profit, a day after handing its chief executive Carlos Ghosn another four years in charge.

Renault announced that in 2017 its net profit soared 50 percent to a record 5.1 billion euros.

Sales at the group, which includes the low-cost Dacia brand, rose by 14.7 percent to 58.8 billion euros, benefitting from the integration from the Russian brand Lada into its accounts.

"2017 was another record year for Group Renault," chief executive Carlos Ghosn said in a company statement.

"The commercial and financial results are the outcome of our strategy deployed over the past years and the efforts of all the group's employees".

Sales by volume rose by 8.5 percent to 3.76 million vehicles.

For 2018 the company is targeting maintaining its operating margin of more than 6 percent of revenue and increasing sales.

On Thursday, the company's board backed giving Ghosn a new four-year term as chief executive with a 30 percent pay cut in line with government demands.

The Brazilian-born Frenchman of Lebanese origin has led Renault since 2005, after having saved Renault's alliance partner Nissan from near bankruptcy in 1999.

Ghosn earned the nickname 'Le Cost Killer' for his aggressive restructuring, but under his stewardship the entire Renault-Nissan-Mitsubishi alliance took the mantle of top-selling carmaker last year with 10.6 million vehicles worldwide.

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Financials (€)
Sales 2018 60 801 M
EBIT 2018 3 979 M
Net income 2018 4 380 M
Finance 2018 4 078 M
Yield 2018 4,64%
P/E ratio 2018 5,28
P/E ratio 2019 5,01
EV / Sales 2018 0,34x
EV / Sales 2019 0,32x
Capitalization 24 720 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 104 €
Spread / Average Target 24%
EPS Revisions
Managers
NameTitle
Carlos Ghosn Bichara Chairman & Chief Executive Officer
Clotilde Delbos Chief Financial Officer & Executive Vice President
Philippe Lagayette Lead Independent Director
Pascale Sourisse Independent Director
Benoît Ostertag Director
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