Renault suffers net loss of 338mn euros in 2022 due to Russia exit

BOULOGNE-BILLANCOURT: French automaker Renault said Thursday the sale of its operations in Russia pushed the company into a net loss of 338 million euros, but that it otherwise increased profitability in its operations.

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Having increased its operating profit margin to 5.6 percent of sales in 2022 and targeting it to rise to at least 6.0 percent this year, Renault decided to propose a dividend of 0.25 euros per share, the first time it will pay out to shareholders since 2019.