Boulogne-Billancourt, October 17, 2019
Due to an economic environment less favorable than expected and in a regulatory context requiring ever-increasing costs, Groupe Renault revises its guidance for FY2019.
• Published Group revenues should decline between -3% and -4% (previous guidance: close to last year level at constant exchange rates and perimeter ).
• Group operating margin should be around 5% (previous guidance: around 6%)
• The Automotive operating free cash flow should be positive in H2 while not guaranteed for the full year (previous guidance: positive FY Automotive operational free cash flow).
Besides, the new management team is reassessing the “Drive the Future” mid-term plan targets.
Groupe Renault’s Q3 2019 revenues stood at 11.3 billion euros versus 11.5 billion euros in Q3 2018, down -1.6%. At constant exchange rates and perimeter1, the decline would have been -1.4%.
Automotive excluding Avtovaz revenues amounted to 9.7 billion euros in Q3 2019, down -3.9% versus Q3 2018 (-3.2% at constant exchange rates and perimeter1).
The details of these revenues will be published as planned on the 25th of October.
An analysts conference will be held in English today at 6:45 pm (CET) with Clotilde Delbos, Chief Executive Officer of Renault SA for an interim period. The link to follow the analysts conference is available here, without the possibility to ask questions.
[1] In order to analyze the change in consolidated revenues at constant perimeter and exchange rates, Groupe Renault recalculates revenues for the current year by applying the average annual exchange rates of the previous year, and excluding significant changes in perimeter that occurred during the year.