Nissan contributes € 478 million for first quarter 2018 to Renault’s earnings
Nissan released today its results for the fourth quarter of fiscal year 2017/2018 (April 1, 2017 to March 31, 2018).
Boulogne-Billancourt, May 14th, 2018
Nissan’s results, published in JGAAP, for the fourth quarter of fiscal year 2017/2018 (January 1 to March 31, 2018), after restatements (1) , will have a positive contribution to Renault’s first quarter 2018 net income estimated at € 478 million (2) .
(1) The restatements don’t include the potential impact of the application of IFRS 15 - Revenue from contracts with Customers and IFRS 9 - Financial Instruments from January 1st, 2018 onwards as it is not yet finalized and validated. Figures including the application of these two new standards will be presented in Renault Group’s half-year consolidated financial statements at June 30, 2018.
(2) Based on an average exchange rate of 133.1 yen/euro for the period under review.
About Groupe Renault:
Groupe Renault has been making cars since 1898. Today it is an international multi-brand group, selling close to 3.76 million vehicles in 134 countries in 2017, with 36 manufacturing sites, 12,700 points of sales and employing more than 180,000 people. To meet the major technological challenges of the future and continue its strategy of profitable growth, the Group is harnessing its international growth and the complementary fit of its five brands, Renault, Dacia and Renault Samsung Motors, Alpine and LADA, together with electric vehicles and the unique Alliance with Nissan and Mitsubishi. With a new team in Formula 1 and a commitment to Formula E, Renault sees motorsport as a vector of innovation and brand awareness.