Renault Group slashes debt by €1.2 billion in strong first half of 2022
Profit also grew significantly: the group’s operating margin for the first half of 2022 was €988 million , up €556m compared with the first half of 2021.
The Renault Group selling its Russian operations played a significant role in reducing its debt. Its 67.7%and 100% of its shares in Renault Russia raised €522m – almost half the total cut to its deficit. Renault Group CEO Luca de Meo said: “Despite all the headwinds related to the stop of the activity in Russia, the semiconductor crisis and cost inflation, the group continues to improve its operating performance and is beginning to benefit from the success of new launches.
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