Renault (RNO) Q4 2025 earnings summary

Executive summary

• Achieved €57.9B in group revenue for 2025, up 3% year-over-year, with all brands expanding and strong electrification momentum; third consecutive year of growth and strong international diversification.

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

• Reinforced leadership, streamlined organization, and new partnerships (notably with Geely in Brazil and Ford in Europe) contributed to robust performance.

• Significant launches in Europe and targeted international markets fueled sales momentum.

• Maintained a strong focus on value, with nearly 60% of European PC sales to retail customers and a robust product mix.

Financial highlights

• Group revenue rose 3% year-over-year to €57.9B; automotive revenue €51.4B (+1.8%), Mobilize Financial Services revenue €6.4B (+13.2%).

• Operating margin was €3.6B (6.3% of revenue), down from 7.6% in 2024; automotive segment margin €2.18B (4.2% of auto revenue); Mobilize Financial Services operating profit €1.47B.

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

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

• Proposed dividend of €2.20/share for 2025, pending approval.

Outlook and guidance

• 2026 guidance: group operating margin around 5.5% of revenue, automotive free cash flow around €1B, 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, BEV growth, and international expansion to drive growth.

• Ongoing focus on value over volume, cost discipline, and international expansion, especially in India, South America, and South Korea.