Renault have reported a 16% jump in full-year revenue as sales rose to almost 39 billion euros and revealed that cash flow beat its forecast.
Renault boosted global sales 14% in 2010 to a record 2.63 million units as emerging markets rebounded and government subsidies spurred European demand.
Revenue from the final quarter helped Renault increase full-year operating free cash flow from car making to 1.67 billion euros, more than double their target of 700 million euros, the company said.
“The group has largely exceeded its annual free cash flow objective and reduced net automotive debt to 1.4 billion euros,” Chief Executive Officer Carlos Ghosn said in the statement.
The CEO said this month that Renault was the victim of an ‘‘organized, international ring” that may have passed data on vehicle architecture and costs to foreign competitors. It suspended and then dismissed three executives.
Source: Bloomberg
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