Renault sales rose EUR39 billion in 2010

Article by Christian A., on February 2, 2011

In a recent statement, Renault S.A. stated that its sales rose to almost EUR39 billion ($53.3 billion) in 2010. The company reported a 16 percent jump in full-year revenue and said cash flow beat its forecast.

According to an average of 10 estimates, analysts had forecasted EUR38.1 billion in revenue. Net income will include a EUR2 billion capital gain from the sale of Volvo AB stake.

The company plans to announce detailed earnings on Feb. 10, 2011. London-based Credit Suisse analyst David Arnold said Renault's second-half cash-flow outperformance is worth about EUR1 per share “by sheer virtue of net debt reduction.”

Arnold added that Renault’s operating margin was still only 1.6 percent in the period, based on recently published estimates.

Renault said that revenue from the final quarter helped it increase full-year operating free cash flow from automaking to EUR1.67 billion, more than double the target for EUR700 million.

The company said on Jan. 10, 2011 that it boosted global sales 14 percent in 2010 to a record 2.63 million cars and light trucks, as emerging markets rebounded and government subsidies boosted European demand.

CEO Carlos Ghosn said that Renault has “largely exceeded” its annual free cash flow objective and lowered net automotive debt to EUR1.4 billion.

Topics: renault, sales

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