We already know Volkswagen Group lost its first position as world biggest car manufacturer. And it lost in front of an outsider, the recently formed Renault-Nissan-Mitsubishi Alliance. The Groupe Renault has its merits, as 2017 brought record revenues.
Group revenues came to €58,770 million (+14.7%), including €2,727 million for AVTOVAZ. Excluding the impact of the AVTOVAZ consolidation, Group revenues increased by 9.4% to €56,043 million.
The Group’s operating margin amounted to €3,854 million, and represents 6.6% of revenues. The Group’s operating income came to €3,806 million, compared to €3,283 million in 2016 (+15.9%).
The contribution of associated companies, primarily Nissan, came to €2,799 million, compared to €1,638 million in 2016. Nissan’s contribution includes a non-recurring income of €1,021 million linked to the tax reform voted at the end of 2017 in the USA and to the sale of its interest in the equipment manufacturer Calsonic Kansei.
Net income amounted to €5,210 million (+47.1%) and net income, Group share, to €5,114 million (€18.87 per share, compared with €12.57 per share in 2016). Excluding non-recurring items mentioned for Nissan, net income, Group share, would have been €4,093 million (€15.10 per share).