Paris (EFE) positive results in all its operations.
The company announced this Thursday a net profit of 1,620 million in its continuing activities (compared to 549 million in 2021), which was impacted by the negative charge of 2,320 million for the sale of its operations in Russia.
The result is a net loss of 700 million euros, of which 338 million attributable to the group.
Renault considers that the set of results is very positive and is above its objectives, since turnover reached 46,371 million euros (11% more) and operating profit reached 2,216 million (146% more), according to detailed in a statement.
Last May, the French group sold its stake in the Russian manufacturer Avtovaz (which has the Lada brand), shares that in December 2021 had a value of 2,190 million euros and that it will be able to repurchase within a six-year window.
That year, the group’s sales on the Russian market totaled 482,000 units.
Once the chapter of its operations in Russia was closed, Renault highlighted the good results of the rest of its activities, thanks above all to an increase in operating margin (5.6%, double that of a year earlier), mainly due to the increase in real prices due to the reduction of commercial discounts.
In addition, the Renault group achieved a record cash flow of 2,119 million euros, compared to 889 million in 2021.
After three years without a dividend due to the pandemic and its consequences, followed by the semiconductor crisis, Renault will propose a dividend of 0.25 euros per share.
“The year 2022 has more than fulfilled its promises, with results above our initial objectives and market expectations,” said the group’s CEO, Luca de Meo.