SEOUL, KOREA - Renault Samsung chalked up an operating profit of 44.46 billion won last year. This was the first time for the company to achieve an operating profit in three years.
Renault Samsung submitted an audit report to the Financial Supervisory Service on March 27. The report said that the company posted a net profit of 17.1 billion won last year, in a turnaround from a 207.5-billion-won loss a year ago.
Last year’s sales amounted to 3.33 trillion won, down 8.8 percent from a year ago. Despite the decline in yearly sales, Renault Samsung improved profitability primarily thanks to its cost-saving efforts.
The company attributed the improvement in profitability to the decline in the cost of purchasing powertrain parts and components that it imported from Japan’s Nissan, plus the reduction in manufacturing cost on the back of its effort to increase the share of localization in production of parts and components.
