| Press Release
February 8, 2023 |
Nissan contributes €797 million to Renault Group’s Full Year 2023 earnings
Nissan released today its results for the third quarter of fiscal year 2023/2024 (April 1st,2023 to March 31st, 2024).
Nissan’s results, published in Japanese accounting standards, for the third quarter of fiscal year 2023/2024 (October 1st to December 31st, 2023), after IFRS restatements, will have a negative contribution to Renault Group’s fourth quarter 2023 net income estimated at -€440 million1.
Therefore, Nissan’s contribution to Renault Group Full Year 2023 results amounted to €797 million.
As a reminder, following the sale by Renault Group of 211 million Nissan shares announced on December 13, 2023, and the cancellation of the acquired shares as part of the buyback by Nissan, Renault Group’s holding position amounts to 40.42% of Nissan’s capital (15.79% of Nissan shares are held directly and 24.63% of shares are held in the French trust of which Renault Group is the beneficiary).
About Renault Group
Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 4 complementary brands – Renault, Dacia, Alpine and Mobilize – offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold more than 2.235 million vehicles in 2023. It employs nearly 106,000 people who embody its Purpose every day, so that mobility brings people closer.
Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, the Group’s ambition is to achieve carbon neutrality in Europe by 2040.
More information : https://www.renaultgroup.com/en/
1 Based on an average exchange rate of 159.03 yen/euro for the period under review.
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