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Renault

Renault eyes recovery after two straight years of losses

French carmaker Renault exceeded its expectations in net profits as it made profits of 888 million euros in 2021. The company had received a loan of 4 billion euros as aid during the pandemic, which it now projects to pay back entirely by 2023.

Renault had an operating margin of 3.6% reaching two years ahead of its earlier projection.

The carmaker has placed its objectives to the group operating margin of 4% and an automotive operational free cash flow as its outlook for the coming year. Last year, the company revealed its unique operation strategy, ‘Renaulution,’ which has proved to have a positive outcome.