Renault Group upgrades its 2023 financial outlook
29 Juin 2023 - 7:00AM
Renault Group upgrades its 2023 financial outlook
Press
ReleaseJune 29, 2023 |
Renault Group
upgrades its
2023 financial
outlook
Link to the conference call at 8:00am
today (CEST)
Given the current level of performance of the Group, which is
above initial expectations, Renault Group upgrades its
financial outlook for the full year
2023 and expects:
- a Group
operating margin between 7% and 8% (versus superior or
equal to 6% previously)
- an
Automotive operational free cash flow superior or equal to
€2.5 billion (versus superior or equal to €2 billion
previously)
This improvement is mainly driven by the quality
of the sales mix thanks to the success of our new launches and to
our commercial policy focused on value.
Renault Group expects for the
first half of
2023:
- a Group
operating margin superior to
7%
- an
Automotive operational free cash
flow around €1.5 billion
(including €600 million of Mobilize Financial Services
dividends)
“Renault Group
reaches record levels of performance.
These results are the outcome
of our strategy focused
on value and of the
unwavering commitment of
the teams, over the last 3
years for Renaulution
which is
transforming the
Group in depth.
Thus, Renault Group
upgrades its financial outlook for the
year, thanks to the continuous
efforts to reduce costs and to the
unprecedented product offensive
in the Group’s
history.
This product offensive,
across all our
brands, has
only just begun and
will further improve the Group's performance, while leading
a unique transformation to become the
Next Gen
automotive
company.”
said Luca de
Meo, CEO of
Renault Group
Renault Group will release its first half results on July 27,
2023.
About Renault Group
Renault Group is at the forefront of a mobility
that is reinventing itself. Strengthened by its alliance with
Nissan and Mitsubishi Motors, and its unique expertise in
electrification, Renault Group comprises 4 complementary brands -
Renault, Dacia, Alpine and Mobilize - offering sustainable and
innovative mobility solutions to its customers. Established in more
than 130 countries, the Group has sold 2.1 million vehicles in
2022. It employs nearly 106,000 people who embody its Purpose every
day, so that mobility brings people closer. Ready to pursue
challenges both on the road and in competition, Renault Group is
committed to an ambitious transformation that will generate value.
This is centred on the development of new technologies and
services, and a new range of even more competitive, balanced and
electrified vehicles. In line with environmental challenges, the
Group’s ambition is to achieve carbon neutrality in Europe by
2040.https://www.renaultgroup.com/en/
RENAULT
GROUP INVESTORRELATIONS |
|
Philippine de
Schonen+33 6 13 45 68
39philippine.de-schonen@renault.com |
|
|
RENAULT
GROUP PRESS RELATIONS
|
|
Frédéric Texier+33
6 10 78 49 20frederic.texier@renault.com |
Rie Yamane+33 6
03 16 35 20rie.yamane@renault.com |
|
Disclaimer
This press release contains forward-looking
statements. All statements other than statements of historical fact
included in this press release are forward-looking statements.
Forward-looking statements give the current expectations and
projections of Renault Group relating to its financial condition,
results of operations, plans, objectives, future performance and
business. These statements may include, without limitation, any
statements preceded by, followed by or including words such as
“target,” “believe,” “expect,” “aim,” “intend,” “may,” “estimate,”
“plan,” “project,” “will,” “should,” “would,” “could” and other
words and terms of similar meaning or the negative thereof. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond Renault Group’
control that could cause the Renault Group’ actual results,
performance or achievements to be materially different from the
expected results, performance or achievements expressed or implied
by such forward-looking statements. These risks and uncertainties
include those discussed or identified under Chapter 4 of the
Universal Registration Document of Renault Group, filed with the
French Autorité des marchés financiers (AMF) on 16 March 2023 and
available on the Company’s website (www.renaultgroup.com) and the
AMF’s website (www.amf-france.org). Such forward-looking statements
are based on numerous assumptions regarding Renault Group’ present
and future business strategies and the environment in which it will
operate in the future. Accordingly, readers of this press release
are cautioned against relying on these forward-looking statements.
These forward-looking statements are made as of the date of this
press release. In addition, the forward-looking financial
information included in this press release has not been audited by
Renault Group’s statutory auditors. This press release does not
contain or constitute an offer of securities for sale or an
invitation or inducement to invest in securities in France, the
United States or any other jurisdiction.
- 20230629_Renault Group_Press Release_Guidance upgrade
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