The Wall Street Journal-20080215-Renault SA- Earnings Fall 7-6- as Volvo- Nissan Contribute Less

Return to: The_Wall_Street_Journal-20080215

Renault SA: Earnings Fall 7.6% as Volvo, Nissan Contribute Less

Full Text (122  words)

Renault SA posted a 7.6% drop in full-year profit, reflecting smaller contributions from Nissan Motor Co. and AB Volvo, but the French auto maker's operating performance improved. Net profit fell to 2.73 billion euros ($3.98 billion) from 2.96 billion euros a year earlier. Net earnings per share dropped to 10.23 euros from 11.23 euros, while revenue rose 1.8% to 40.68 billion euros. Renault also reported a 27% rise in operating margin, helped by cost compression, stronger international sales and robust demand for light commercial vehicles. Chief Executive Carlos Ghosn said the auto market will be tougher this year than last due to the darkening global economic outlook, but he said Renault will be able to boost vehicle sales by at least 10%.