Renault SA swung to a 2019 net loss and slashed its dividend as its earnings were hit by several headwinds amid weak global demand for cars.
The French auto maker
on Friday posted a net loss of 141 million euros ($153.1 million) for the year, a significant drop from 2018’s EUR3.30 billion net profit. The result will surprise analysts, who had expected a steep fall but a positive result nonetheless, according to a FactSet consensus forecast of EUR1.77 billion net profit.
Renault’s earnings were hit by a large expense related to taxes, as well as costs related to restructuring and impairments. They were also penalized by the weak performance of its Chinese joint ventures, which also led to…