Slovenia's Renault Unit Profit Drops on Japan Eartquake

Revoz d.d., the Renault SA unit in Slovenia, said profit last year dropped 25 percent due to a shortage of parts as a consequence of the earthquake in Japan in March 2011.

Net income fell to 13.9 million euros ($17.5 million) from 18.6 million euros the previous year, the Novo Mesto, Slovenia-based company said in an e-mailed statement today. Revenue at Slovenia’s second-biggest exporter after appliance maker Gorenje Group d.d. dropped 15 percent to 1.13 billion euros in 2011.

The company’s supervisory board extended the mandate of the three-member executive board, including its president Ales Bratoz, until June 2016. The company said it will pay no dividend from last year’s earnings.

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