F1
Turnover up for Renault disrupted by a deficit
The day after deficit published by Williams on the accounts for the first half of 2019, it's the team's turn Renault to announce its turnover for the year 2018.
The French team is working hard to catch up with the top teams. Efforts mean investments. This is reflected in the annual balance sheet with a deficit established at 7,4 million pounds (8,3 million euros), while Renault had made money in 2017 (1,1 million pounds, or 1,2. XNUMX million euros).
This drop is also explained by the depreciation of the pound sterling over the previous year. At least that's what the Yellow and Blacks explain in a 30-page file accessible here.
Apart from this deficit, Renault F1 Team sees its turnover increase with 146 million pounds (164,5 million euros). This is a consequence of its rise in the Manufacturers' ranking, from seventh to fourth place between 2017 and 2018. The higher the rank, the greater the bonus granted by the FIA and Liberty Media.
Investments undertaken by Renault continue in 2019 and 2020 with work on the engine plant at Viruses-Châtillon (Essonne). A 4 square meter complex is due to be built in mid-100.
Medhi Casaurang
Passionate about the history of motorsport across all disciplines, I learned to read thanks to AUTOhebdo. At least that's what my parents tell everyone when they see my name inside!
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