Boulogne-Billancourt, February 20, 2025 – Renault Group has delivered a year of exceptional financial performance, exceeding its 2024 full-year guidance and reinforcing its position as a leader in the automotive industry. With record profitability, strong cash generation, and strategic growth across its brands, the Group is poised for continued success despite market uncertainties.
Financial Highlights: A Year of Strong Growth
Renault Group reported revenue of €56.2 billion, marking a 7.4% increase compared to 2023, and a 9.0% growth at constant exchange rates. This performance was driven by robust contributions from its complementary automotive brands, all of which experienced growth.
The Group’s operating profit reached €4.3 billion, reflecting a €146 million increase versus 2023 and a 15% rise when adjusted for Horse operations. This represents an operating margin of 7.6% of revenue.
Despite significant impacts from Nissan-related financial adjustments, net income (excluding Nissan’s capital loss and impairment effects) reached €2.8 billion, a 21% increase compared to 2023. Reported net income stood at €0.8 billion.
Free cash flow reached €2.9 billion, exceeding the initial guidance of €2.5 billion, driven by strong operational performance. Meanwhile, the Group’s net cash financial position nearly doubled to €7.1 billion by year-end, a remarkable increase of €3.4 billion compared to 2023.
In recognition of this strong performance, Renault Group will propose a dividend increase of 19% to €2.20 per share, subject to approval at the Annual General Meeting on April 30, 2025.
Commercial Success Across Brands and Segments
Renault Group’s automotive brands demonstrated strong growth and market leadership in 2024:
- Renault secured the #3 position among OEMs in Europe for passenger cars (PC) and light commercial vehicles (LCV). It remained #1 in LCV sales in Europe and #1 in France across PC, EVs, and LCVs.
- Dacia continued its impressive momentum, ranking in the top 10 best-selling brands in Europe and maintaining a podium position in retail sales. The Sandero was the best-selling car across all channels.
- Alpine recorded 5.9% growth in sales, totaling 4,585 units, ahead of its upcoming product offensive.
Electrification and Market Leadership in EVs
Renault Group accelerated its electrification strategy, achieving a 33% mix of electrified sales in Europe, a 4.1 percentage point increase compared to 2023. The Group’s hybrid mix reached 24%, while EV sales grew to 9% for the year, peaking at 12% in Q4.
Renault brand continued to lead in electrification, with a 49% electrified sales mix in Europe. It ranked #2 in hybrid vehicle sales, with hybrid volumes growing 30% to a 36% mix, while EV sales accounted for 13%, reaching 16% in Q4.
The Group also confirmed that it successfully met its CAFE CO₂ emissions targets for passenger and light commercial vehicles in Europe.
Financial Resilience and Strategic Cost Management
Renault Group’s operating margin stood at 7.6% of revenue, a record absolute value of €4.3 billion. Automotive revenue reached €50.5 billion, up 4.9% year-on-year, despite currency headwinds.
Key factors contributing to this performance included:
- Product mix improvement (+2.7 points) driven by new launches, including Scenic, Rafale, Duster, Symbioz, Renault 5, Koleos, and Espace.
- Pricing strategy (+0.6 points) aimed at offsetting currency fluctuations while maintaining competitive pricing.
- Cost optimization, with savings of €792 million, primarily through purchasing efficiencies and raw material tailwinds.
- Aftermarket strength, which contributed €157 million to operating profit.
2025 Outlook: Sustained Profitability and Growth
Looking ahead, Renault Group remains committed to profitable growth while preparing for regulatory challenges, particularly in relation to CO₂ emissions regulations (CAFE) in Europe.
For 2025, the Group targets:
- A ≥7% operating margin, factoring in a 1-point impact from CAFE compliance.
- Free cash flow of at least €2 billion, including €150 million in dividends from Mobilize Financial Services (MFS), which will return to higher levels from 2026.
CEO Luca de Meo emphasized the Group’s agility and long-term vision:
“Renault Group continues to improve its operational performance, execute its strategy, and deliver on its targets. 2024 was a pivotal year, marked by the first benefits of our ambitious product offensive. These achievements are the result of our company’s transformation, driven by the dedication of our employees.”
As Renault Group prepares for its next chapter, it remains focused on flexibility, innovation, and long-term sustainable profitability, ensuring it remains at the forefront of the evolving automotive landscape.
