PARIS -- Renault reported flat profit for 2011 as sales in Europe declined for a fourth year and price competition increased.
Earnings before interest, taxes and one-time items fell 0.7 percent to 1.09 billion euros ($1.42 billion) from 1.1 billion euros a year earlier, the company said.
"Renault coped with the different crises faced throughout the year, exceeding the free cash flow objective for 2011," CEO Carlos Ghosn said in a statement on Thursday.
Renault said revenue rose 9.4 percent to 42.6 billion euros from 39 billion euros a year earlier.
The company's automotive free cash flow rose to 1.08 billion euros at the end of 2011, exceeding a target of 500 million euros. The carmaker targets positive free cash flow in 2012 for the automotive unit.
Industrial net debt, which excludes sales- financing operations, fell to 299 million euros as of Dec. 31, from 1.14 billion euros.
Renault's results contrasted with mounting debts and cash burn at larger domestic rival PSA/Peugeot-Citroen. On Wednesday, PSA said it burned through 1.6 billion euros of cash in 2011 as its auto division swung to a 92 million euro full-year loss.