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In 2006, it was a transition year after the announcement of the “Reynolds 2009 Commitmentâ€. Global sales decreased by 4%. Sales outside the European market continued to increase, accounting for 30% of total sales. LoganMCV - the first of 26 new car plans has been successfully listed.
Renault achieved its expected target of 2006 operating profit margin, net profit of 2.943 billion euros, and operating profit as a percentage of turnover was slightly lowered by 0.8%. As of December 31, 2006, the ratio of corporate net liabilities to its own funds was 11.4%. Renault has a healthy balance sheet.
Renault President and CEO Carlos Ghosn said: "Renault's operating profit margin in 2006 has achieved the 2009 promised target due to Renault's unremitting efforts in reducing costs, improving quality, and expanding the international market."
Renault Group achieved a turnover of 41.528 billion euros, a decrease of 0.8% from 2005. The slight decrease was mainly due to the decrease in profits from France and European countries (down 4.2% year-on-year). As Renault continued to implement targeted sales policies in these regions, the new car market was postponed until the second half of 2007; thanks to Renault and Dacia Asia and Samsung's sales growth of the three brands, from other regions - Europe, South America and Asia and Africa, the profit contribution rate increased by 2.3%.
In 2006, the group’s operating profit totaled 1.063 billion euros, which represented 2.56% of turnover, a slight decrease from the 3.2% in 2005. The operation in 2006 was affected by the following aspects: The decrease in European sales resulted in a decrease in the absorption rate of fixed costs; the price of raw materials rose more than expected; the implementation cost of Euro IV emission standards was not passed on to the selling price of the products.
Renault’s continuous development of 26 new vehicles, coupled with investments in environmental protection and safety technologies, resulted in R&D expenditures of 2.4 billion euros, an increase of 136 million euros over 2005. This growth aims to accelerate the pace of innovation and prepare for future development.
It is reported that as of December 31, 2006, Renault’s own funds increased by 1.54 billion euros, a total amount of 21.201 billion euros.
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