Arab Today, arab today renault optimistic for 2012 on strong sales
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

Renault optimistic for 2012 on strong sales

Arab Today, arab today

Arab Today, arab today Renault optimistic for 2012 on strong sales

Paris - AFP

French auto giant Renault said Thursday it was optimistic for this year after its 2011 results showed it weathering tough times better than rival PSA Peugeot Citroen, despite a drop in net profit. Net profit for 2011 came to 2.09 billion euros ($2.76 billion), down 39 percent, but the downturn was largely explained by an exceptional gain in 2010 from Renault\'s sale of shares in Swedish carmaker Volvo. Operating profit meanwhile nearly doubled to 1.24 billion euros and sales were up nine percent at 42.63 billion euros, with markets beyond Europe continuing to do well. The company said costs were kept under control but higher raw material prices could not be completely offset by increased sales, with the earthquake in Japan and subsequent disruption another negative. The results were in contrast to Peugeot\'s announcement that it was speeding up a cost-cutting programme after its results Wednesday saw 2011 net profit slump 48 percent to 588 million euros, even as sales rose seven percent to 59.9 billion euros. Renault said it continued to reduce debt and was in a position to pay a 2011 dividend of 1.16 euros per share. In a statement, Renault CEO Carlos Ghosn said the company had \"coped with the different crises faced throughout the year\" and noted a 19 percent increase in sales outside Europe, notably in Brazil and Russia. \"In 2012 we expect international sales to be well in excess of 43 percent of the total, while maintaining the Renault brand leadership in France and the number two position in Europe,\" he said. In a conference call with analysts, Ghosn warned however that the company\'s \"prospects for Europe are not positive in 2012.\" Renault, which controls Japan\'s Nissan Motor, is expecting a three to four percent sales drop in Europe and a seven to eight percent fall in France. The company said it plans to increase its share in Russian carmaker Avtovaz, manufacturer of the Lada, and to launch a presence in China. Press reports have suggested it could invest in the central city of Wuhan. \"These two strategic advances should be presented in 2012,\" Ghosn said, adding that the increased investment in Avtovaz, in partnership with Nissan, should be concluded \"in the coming weeks\". The contributions of associated companies brought in 1.52 billion euros to Renault last year, including 1.33 billion euros from Nissan and 49 million euros from Avtovaz. It said net financial debt in its automotive branch was down to a historically low level of 299 million euros and that its liquidity reserve was at a \"high level\" of 11.4 billion euros, compared with 12.8 billion in 2010. Renault said it had sold a record 2.72 million vehicles last year, with particular growth in its low-cost entry-level cars, marketed under the Dacia brand in Europe. It said it expected strong sales this year of its new low-cost Lodgy MPV and new Clio.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today renault optimistic for 2012 on strong sales Arab Today, arab today renault optimistic for 2012 on strong sales

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today renault optimistic for 2012 on strong sales Arab Today, arab today renault optimistic for 2012 on strong sales

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday