Overview

• Renault’s first-half net profit excluding exceptional items plunged 69% to €461 million.
• The automaker recorded €11.6 billion in exceptional losses tied to its Nissan alliance, including €9.3 billion from reclassifying its stake.
• Operating margin fell by 2.1 percentage points to 6.0%, while group revenue rose 2.5% and automotive revenue climbed just 0.5%.
• Heavy reliance on Europe is weighing on Renault as the regional car and van market contracted by 1.9% in the first half.
• CEO Francois Provost, who took the helm in June, is rolling out measures aimed at improving profitability and competitiveness.