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.

If you liked the article, share on:

Topics: renault, sales

Comments

Recommended

Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Mercedes-Benz just made an announcement that the 2018 E Class Cabriolet has finally landed in the United States. If you had not known, the E Class will be positioned in...
by - November 22, 2017
After a somewhat successful fray into the automotive market in China, the resurrected German automobile brand Borgward is finally heading to Europe, bringing along with it the Borgward BX7 sports...
by - November 22, 2017
Automotive industry veteran Bob Lutz has once again spoken out against Tesla. Known as one of Tesla Motors’ greatest skeptics, Lutz had stated two years ago that the Silicon Valley...
by - November 22, 2017
Dubai is one of the few countries where expensive cars are the norm, many of which are specially modified as well. And this just in: Bentley has debuted the new...
by - November 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries