Renault Group: Nissan's contribution to Renault Group's Q1 2024 earnings
*Press Release*
May 9, 2024
**Nissan contributes €225 million ****to Renault Group’s first quarter 2024 earnings**
Nissan released today its results for the fourth quarter of fiscal year 2023/2024 (April 1^st,2023 to March 31^st, 2024).
Nissan’s results, published in Japanese accounting standards, for the fourth quarter of fiscal year 2023/2024 (January 1^st to March 31^st, 2024), after IFRS restatements, will have a positive contribution to Renault Group’s first quarter 2024 net income estimated at €225 million^1.
As a reminder, following the sales by Renault Group of 211 million and 99.1 million Nissan shares announced on December 13, 2023 and March 28, 2024, respectively, and the cancellation of the acquired shares as part of the buyback by Nissan, Renault Group's holding position as of April 3^rd, 2024 amounts to 38.92% of Nissan's capital (16.19% of Nissan shares are held directly and 22.73% of shares are held in the French trust of which Renault Group is the beneficiary).
*About Renault Group *
Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 4 complementary brands - Renault, Dacia, Alpine and Mobilize - offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold more than 2.235 million vehicles in 2023. It employs nearly 106,000 people who embody its Purpose every day, so that mobility brings people closer.
Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, the Group’s ambition is to achieve carbon neutrality in Europe by 2040.
More information : https://www.renaultgroup.com/en/
*RENAULT GROUP *
*INVESTOR RELATIONS * Philippine de Schonen
+33 6 13 45 68 39
philippine.de-schonen@renault.com
*RENAULT GROUP *
*PRESS RELATIONS* François Rouget
+33 6 23 68 07 88
francois.rouget@renault.com
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1 Based on an average exchange rate of 161.2 yen/euro for the period under review and an interest rate of 40.645% at 31 March 2024.
*Attachment*
· 20240509_Renault Group_Press Release_Q1 2024 Nissan contribution