The Renault Group has returned to profitability after two years of losses, hitting a number of long-term financial targets earlier than projected.
Revealing its financial performance for 2021, the company highlighted that it has achieved an operating margin above 3% two years ahead of schedule, reduced fixed costs by €2 billion (£1.67bn) a year early and reduced its break-even point by 40% compared with 2019.
The numbers serve as tangible evidence of the success of CEO Luca de Meo's radical 'Renaulution' transformation plan, which was implemented to accelerate the company's electrification strategy and promote profitability.
