Renault: revises FY 2019 targets
(CercleFinance.com) - On Thursday evening, Renault said that it is revising its FY 2019 targets, due to a less favourable economic conditions than expected and in a regulatory context that requires a continued high level of expenditure.
The Group's reported sales are now expected to be down by 3% to 4% (previous target: close to last year's level at constant exchange rates and consolidation scope). Its operating margin is expected to around 5% (previous target: around 6%). Meanwhile, the operational free cash flow of its Automotive business is expected to be positive in the second half of the year, albeit without guaranteeing that it will be positive over the full-year (previous target: positive free cash flow from the Automotive bueiness), the group said, which has also adjusted its MT targets of its "Drive the Future" plan.
In addition, Renault has reported Q3 2019 revenue of 11.3 billion euros, against 11.5 billion euros in Q3 2018, down 1.6%. At constant exchange rates and consolidation scope, revenues wouild have fallen 1.4%.
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The Group's reported sales are now expected to be down by 3% to 4% (previous target: close to last year's level at constant exchange rates and consolidation scope). Its operating margin is expected to around 5% (previous target: around 6%). Meanwhile, the operational free cash flow of its Automotive business is expected to be positive in the second half of the year, albeit without guaranteeing that it will be positive over the full-year (previous target: positive free cash flow from the Automotive bueiness), the group said, which has also adjusted its MT targets of its "Drive the Future" plan.
In addition, Renault has reported Q3 2019 revenue of 11.3 billion euros, against 11.5 billion euros in Q3 2018, down 1.6%. At constant exchange rates and consolidation scope, revenues wouild have fallen 1.4%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.