Renault (RNO) Q4 2025 earnings summary

Executive summary

• Achieved €57.9 billion in group revenue for 2025, up 3.0% year-over-year, with all three auto brands delivering growth and strong electrification momentum; third consecutive year of growth and international expansion supported results.

• Sold 2,336,807 vehicles globally (+3.2%), outperforming the market, with significant gains in Europe and international markets.

• Operating margin was €3.6 billion (6.3% of revenue), down from 7.6% in 2024, meeting guidance.

• Net income, Group share, was -€10.9 billion, heavily impacted by a -€9.3 billion non-cash loss from Nissan accounting changes and -€2.3 billion from associated companies; adjusted net income (ex-Nissan) was €715 million.

• Dividend of €2.20 per share proposed, stable year-over-year, with S&P upgrading credit rating to BBB- (investment grade).

Financial highlights

• Group revenue rose 3.0% year-over-year to €57.9B; automotive revenue up 1.8% to €51.4B.

• Operating profit was €3,632 million (6.3% margin); automotive segment margin €2.18B (4.2%).

• Mobilize Financial Services revenue up 13.2% to €6.4B; record operating profit of €1.47B.

• Automotive free cash flow reached €1.5B, supported by operational performance and a €300M dividend from Mobilize Financial Services; net cash position at €7.4B.

• Shareholders’ equity declined to €22,296 million from €31,102 million.

Outlook and guidance

• 2026 guidance: group operating margin around 5.5% of revenue, automotive free cash flow around €1.0B, including €350M dividend from Mobilize Financial Services.

• Medium-term targets: operating margin between 5% and 7%, automotive free cash flow ≥ €1.5B per year on average, with €500M annual dividend from Mobilize Financial Services.

• Focus on cost reduction, product innovation, and international expansion to drive growth.