Renault F1 finances reveal reduced losses for 2016
The Renault Formula 1 team has posted much improved financial figures for the first season under the French manufacturer's renewed ownership, with income up and losses substantially reduced
Having lost £57million in its last year under the Lotus name in 2015, the Enstone team reduced that to £3.3m in 2016, when it finished ninth in the world championship.
In addition turnover rose from £78.4m to £119.7m, representing a year-on-year increase of £41.3m, or 52.7%.
The 2015 figures were impacted negatively by what Renault calls "some one-off transactions", while it credits "enhanced sponsorship and favourable exchange rates following the Brexit vote" for contributing to the improved turnover in 2016.
Renault's programme of investment in rebuilding after the lean Lotus years is reflected in an increase of £12m on cost of sales, while fixed assets have increased by £11.8m. The company also notes that finance costs are down due to debt reorganisation.
Average staff levels rose from 475 in 2015 to 511 last year, adding £2m to the wage bill. That number has since moved towards 600.
The team notes that its 2016 on-track performance was "not expected to be ground-breaking", while stressing that for 2017 its official aim "is to finish fifth in the constructors' championship."
After five races of the 2017 season the team is currently seventh in the standings, seven points behind fifth-placed Toro Rosso.
Share Or Save This Story
Krack: Aston Martin F1 team no longer in “no-man’s land”
Gasly rues costly floor damage from Ocon contact in F1 Japanese GP
How an F1 underachiever became a Japanese political player
Eight shock Formula 1 team principal changes
The key moments in Renault's F1 history as it bids farewell
How Renault overcame early hiccups to prove its worth in F1
Are F1's technical changes for Miami enough to ease 2026 concerns?
FIA confirms changes to 2026 F1 rules ahead of Miami GP
Wolff warns against ADUO “gamesmanship”: Only one F1 manufacturer has a problem
Why 2026 F1 rule changes involve "a scalpel, not a baseball bat"
Subscribe and access Autosport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments