PARIS (Reuters) - Renault’s (RENA.PA) revenue surged by a quarter in the first three months of 2017, the French carmaker said on Thursday, as new models boosted deliveries and pricing, while production increased for industrial partners including Nissan (7201.T).
Quarterly revenue rose to 13.13 billion euros (10.98 billion pounds) from 10.49 billion a year earlier, also lifted by the consolidation of Russian Lada sales. Excluding Lada parent Avtovaz, group sales rose 19.7 percent to 12.56 billion euros.
Renault’s revenue performance beat the 12.49 billion euros expected by analysts, based on the median of 10 estimates in an Inquiry Financial survey for Reuters.
A near-16 percent jump in vehicle deliveries was the biggest contributor, boosting revenue by 9.2 percent, helped by the renewal of the Megane family of compact cars in 2016.
Sales to partners - including Micras built in France for alliance partner Nissan and semi-assembled vehicles for Iran - lifted revenue by 3.5 percent. Favourable currency effects added 1.3 percent on a stronger Russian rouble and Brazilian real.
Renault increased its 2017 global auto-market growth forecast to 1.5-2.5 percent from 1.5-2 percent and reiterated its own full-year goals, including increased operating profit and revenue at constant exchange rates.
Reporting by Laurence Frost; Editing by Tim Hepher and Mark Potter