Renault lifts dividend, posts record FY profit

(Sharecast News) - French car maker Renault lifted its dividend on Thursday as it posted a record full-year profit. For 2024, it said operating profit rose by €146m to €4.3bn, with group revenue up 7.4% at €56.2bn.

The company proposed a dividend of €2.20 per share, up 19% from the previous year.

Looking ahead, however, Renault said it was cutting its forecast for group operating margin to at least 7% from 7.6% previously. It said this includes around one point of estimated negative impact from Corporate Average Fuel Economy regulations.

Chief executive Luca de Meo said: "Renault Group continues to improve its operational performance, execute its strategy and deliver on its targets. 2024 was an important year with the first benefits of our unprecedented product offensive. This performance is the result of an in-depth transformation of the company driven by a remarkable collective work.

"We have turned Renault Group into a much more flexible, efficient and performant company. And we will not stop there! Thanks to the strong fundamentals built over the last four years and driven by an agile and innovative mindset, we are now preparing the next chapter, aiming for profitable growth while investing for the future. I want to thank our colleagues for these achievements: their passion, commitment, and team spirit are key drivers to our success."