Renault closes its horribilis annus on poor results. In line with the warning published in October 2019, a few days after the departure of former general manager Thierry Bolloré, the manufacturer with the diamond announced a net loss of 141 million euros on Friday February 14. Unheard of since 2009.
“2019 was a difficult year for Renault and the Alliance”
At the same time, turnover contracted by 3.3% to 55.5 billion euros and the operating margin fell to 4.8% of turnover, compared to 6.3 % the previous year. “2019 has been a difficult year for Renault and the Alliance,” interim chief executive Clotilde Delbos admitted at the start of the presentation of the results in Boulogne-Billancourt (Hauts-de-Seine).
The fault of a “downturn in the market, the CAFE [new regulation on CO2 emissions in Europe, Editor’s note], a volatile economic situation”, as well as “internal difficulties”, detailed the manager. A reference to the difficult transition initiated by Renault since the resounding arrest in November 2018 of Carlos Ghosn, which still weighs heavily today on the state of the French group and the Alliance with Nissan and Mitsubishi. The financial contribution of its partner Nissan also dampened Renault’s overall results in 2019. It collapsed to 242 million euros over the past year, compared to 1.5 billion euros in 2018.
2 billion euro savings plan
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