BOULOGNE-BILLANCOURT (dpa-AFX) - Renault SA (RNSDY.PK, RNSDF.PK, RNT.L) reported that its first-half net income declined to 1.05 billion euros from 2.04 billion euros, prior year, as the company's results were heavily penalized by the decline of Nissan's contribution. Net income Group share was at 970 million euros, compared to 1.95 billion euros. Earnings per share was 3.57 euros compared to 7.24 euros. The Group's operating income was at 1.52 billion euros, down 12.3% from prior year.
First-half Group revenues were 28.05 billion euros (down 6.4% compared to last year). At constant exchange rates and perimeter, Group revenues would have decreased by 5.0%.
The Automotive operational free cash flow at June 30, 2019 was negative at 716 million euros, primarily because of the investment increase.
The Group now expects 2019 revenues to be close to last year (at constant exchange rates and perimeter), revised from prior guidance of an increase. The Group confirmed its 2019 objectives of: Group operating margin around 6%; and a positive Automotive operational free cash flow.
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