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Renault planning for long-term presence in Iran: CEO

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10/12/2017 | 08:19pm CET

TEHRAN- Carlos Ghosn, the CEO of Renault, announced that his company has a long-term serious plan for presence in the Iranian market.

Making the remarks during a press conference in Paris last week on revealing the company’s mid-term plan, the CEO underlined the significance of Iranian market and stressed that Renault will not leave the country, public relations department of Renault’s office in Tehran reported on Wednesday.

According to the company’s plan, Renault’s production for Iranian market will reach over 250,000 cars per annum during six years. Also, manufacturing capacity of Renault cars inside Iran will increase by 150,000 vehicles.

Based on this plan, in addition to introducing new products, Renault will develop its distribution network in Iran in a way that it will gain over 15 percent of the market within six years.

Last year, Renault experienced its best performance in Iran during its non-stop presence in the Middle East country since 2004, as the company hit a record of production and sales in this market. The French carmaker also registered some new records in Iran during the first nine months of 2017.

MA

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(c) 2017 Sokhan Gostar Institute Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2017 59 117 M
EBIT 2017 3 655 M
Net income 2017 4 290 M
Finance 2017 3 536 M
Yield 2017 3,84%
P/E ratio 2017 5,83
P/E ratio 2018 5,76
EV / Sales 2017 0,40x
EV / Sales 2018 0,37x
Capitalization 26 994 M
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Number of Analysts 25
Average target price 100 €
Spread / Average Target 9,7%
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Managers
NameTitle
Carlos Ghosn Bichara Chairman & Chief Executive Officer
Clotilde Delbos Chief Financial Officer
Gaspar Gascon Abellan Executive Vice President-Product Engineering
Philippe Lagayette Lead Independent Director
Marc Ladreit de Lacharrière Independent Director
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