Renault Reports 10.2 Trillion KRW Net Loss in H1 Due to COVID-19 Impact

[Asia Economy Reporter Jin-gyu Lee] French automobile company Renault recorded its worst first-half performance ever due to the impact of the novel coronavirus disease (COVID-19).

According to Renault's disclosure on the 30th (local time), the net loss for the first half reached 7.29 billion euros (approximately 10.2 trillion won). This is the worst performance in Renault's history. In the first half of last year, Renault achieved a net profit of 970 million euros.

Renault's sales in the first half of this year plummeted 34.9% compared to the same period last year. Renault posted an operating profit of 1.5 billion euros in the first half of last year, but recorded an operating loss of 2 billion euros (2.8 trillion won) in the same period this year.

Following Renault's announcement of these results, Renault's stock price fell 3.3% on the Paris stock exchange.

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