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Renault posts loss, sees difficult 2010
The full year net loss is greater than the 2.59 billion forecast by analysts and compares with 2008's 571 million euros net profit. Revenue fell 10.8 percent to 33.71 billion euros in 2009.
In the second half, Renault lost 356 million euros after government scrappage schemes held off the worst of the crisis.
"We are continuing our work on building the Renault of the post-crisis period with the pursuit of the sales offensive in Europe," said CEO Carlos Ghosn in a statement.
"Economic conditions will remain difficult in 2010."
Renault said the European car market could contract by 10 percent this year.
In a statement, it said it met both its targets in 2009: achieving positive cash flow -- the funds a company is able to generate after maintaining or expanding assets -- at 2.09 billion euros and increasing market share, although by a modest 0.1 percent.
It used the cash flow to reduce debt and vowed to achieve positive cash flow again this year.
Chief Financial Officer Thierry Moulonguet said in a briefing with journalists that he expects 4,000 people to leave the company through attrition this year.
In 2009, Renault cut its workforce by 7,600 through a voluntary redundancy scheme and attrition. At the end of the year, the total headcount was 121,422.
In exchange for state help during the crisis, Renault promised to make no forced layoffs in France, but recent comments by Industry Minister Christian Estrosi suggested the government wants a bigger say in the running of the company.
Ghosn was summoned to the Elysee presidential palace to explain reports that it was considering transferring production of its popular Clio 4 model from France to Turkey. He issued a statement saying that the car would be built in both France and Turkey, where it is cheaper to produce.
Renault is seeking economies through its alliance with Japanese partner Nissan Motor Co. In 2009 the companies saved 1.5 billion euros in synergies, and plan to save an additional 1 billion euros this year.
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