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VIDEO from Renault SA available on thenewsmarket.com: Renault Announces its 2010 Financial Results
Feb 10, 2011 (03:02 PM EST)
NEW YORK, Feb. 10, 2011 /PRNewswire/ -- See video from Renault SA at:
Renault reports Group operating margin of euro 1,099 million in 2010 and confirms positive automotive operational free cash flow of euro 1.67 billion. Carlos Ghosn, Chairman and CEO of Renault, said: "The publication of the final financial results confirms that Renault's performance was higher than expected. In contrasted markets, Renault showed its ability to seize growth opportunities while strengthening its balance sheet structure. These results constitute a solid base for the launch of our new strategic plan." The Group reported a significant improvement in earnings. Revenues came to euro 38,971 million, up 15.6%. Driven by a strong commercial performance in growing car markets, resulting in higher market shares, the Automotive division contributed euro 37,172 million to revenues. The year-on-year increase of 16.3% was mainly attributable to the positive volume effect. Group operating margin totaled euro 1,099 million, or 2.8% of revenues, compared with euro -396 million and -1.2% in 2009. Automotive operating margin rose euro 1,298 million to euro 396 million, or 1.1% of revenues. Available video includes soundbites in English and French from Carlos Ghosn, Chairman and CEO of Renault.
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Story Id: 21599