Latest news with #BoulogneBillancourt
Yahoo
2 days ago
- Automotive
- Yahoo
Renault Group appoints François Provost as Chief Executive Officer and Director
PRESS RELEASEJuly 30, 2025 Renault Group appoints François Provost as Chief Executive Officer and Director Boulogne-Billancourt, July 30, 2025 – The Renault Group Board of Directors, meeting today under the chairmanship of Jean-Dominique Senard, decided, following recommendation from the Governance and Remuneration Committee, to appoint François Provost as Chief Executive Officer of Renault S.A. and Chairman of Renault s.a.s., effective July 31, for a term of four years. The Board also appointed François Provost as Director of Renault S.A. and Renault s.a.s. Previously Chief Procurement, Partnerships and Public Affairs Officer, François Provost is an experienced executive with 23 years of service within the Group. With a strong international experience in both operational and strategic roles, an in-depth understanding of the sector's challenges, and a strategic vision, François Provost has the qualities required to continue and accelerate the development of Renault Group. Furthermore, his attributes will ensure the continuity of the Group's development, particularly internationally, and through partnerships, capitalise on its strategic agility, and maintain high performance standards, in full respect of the company's values. At the conclusion of the Board of Directors meeting, Jean-Dominique Senard stated: " I am confident that François Provost will lead the Group with discernment and determination in an environment that demands both rigor in execution, strategic vision, and the ability to innovate. In this rapidly changing industry, his determination and sense of responsibility will be true assets to guide the teams and sustain our momentum. At Renault Group, there is no place for the status quo . Thanks to his expertise and knowledge of the company, we will be able to complete the implementation of our strategic plan, finalise the terms of the next one, and ensure its successful execution. I sincerely look forward to working with him. I would also like to warmly thank Duncan Minto for serving as interim during these past few days." On the occasion of his appointment, François Provost stated : 'It is with pride and gratitude that I welcome my appointment. I would like to warmly thank my President, Jean-Dominique Senard, and the Board of Directors for the trust they have placed in me. I have a special thought for the teams across the Group who have supported me throughout these past 23 years. I will dedicate all my energy and passion to contributing – alongside our 100,000 employees, our dealers, suppliers, and partners – to the development of our Group, one of the flagships of French industry for the past 127 years. Renault Group benefits from strong fundamentals, with committed teams, an outstanding range of products, strong brands, and an innovative organisational model. These will be invaluable assets as we accelerate our transformation in an increasingly demanding environment for our industry. You can count on my commitment and determination to write the next page of our history together.' Renault Group will publish its half-year financial results tomorrow, Thursday, July 31. [Link to photos] ### François Provost Born in 1968, François Provost is a graduate from the École Polytechnique and a Chief Engineer in the Corps des Mines. After beginning his career in senior public administration, he joined the Group in 2002. He has held various executive positions in France and across Europe, including serving as CEO of Renault-Nissan Portugal from 2005 to 2008. In 2010, his career took an international turn: he became Deputy CEO of Renault Russia in charge of operations and then served as Chairman and CEO of Renault Samsung Motors in Korea for five years. He then became Chief Operating Officer for China, followed by Asia-Pacific, and ultimately served as Head of International Development. In 2023, he joined the Group's Leadership Team as Chief Procurement, Partnerships and Public Affairs Officer. From Lisbon to Seoul, via Moscow and Shanghai, he has grown into a strategic and experienced leader, playing a key role in establishing major partnerships with global players such as Nissan, Geely, and Aramco. RENAULT GROUP PRESS CONTACT Valérie Gillot+33 6 83 92 92 Rie Yamane+33 6 03 16 35 RENAULT GROUPINVESTORS RELATIONS Philippine de 6 13 45 68 39 About Renault Group Renault Group is at the forefront of a mobility that is reinventing itself. The Group relies on the complementarity of its 4 brands – Renault, Dacia, Alpine, Mobilize – and offers sustainable and innovative mobility solutions to its customers. Established in 114 countries, Renault Group sold 2.265 million vehicles in 2024. It employs more than 98,000 people who embody its Purpose every day, so that mobility brings people closer. Ready to pursue challenges both on the road and in competition, the Group is committed to an ambitious and value-generating transformation focused 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, Renault Group's ambition is to achieve carbon neutrality in Europe by 2040. More information : Attachment 20250730 CP nomination CEO ENSign in to access your portfolio
Yahoo
15-07-2025
- Automotive
- Yahoo
H1 2025 financial figures and FY 2025 financial outlook
PRESS RELEASEJuly 15, 2025 H1 2025 financial figures and FY 2025 financial outlook H1 2025 preliminary financial figures Update of FY 2025 financial outlook Strengthening of the cost reduction plan Boulogne-Billancourt, France - July 15, 2025 Renault Group announces its H1 2025 preliminary financial figures: Group revenue at €27.6bn, up +2.5% operating margin at 6.0% of Group revenue free cash-flow at €47m (including a significantly negative change in the working capital requirement estimated at c. -€900m, excluding tax effect) These results have been impacted by a lower than anticipated performance in June with: volumes slightly lower than expected, an increasing commercial pressure due to the continuing decline in the retail market and an underperformance of the LCV business in a sharply declining market in Europe, a level of receivables impacted by billing timing differences over the last days of the month. Furthermore, the significantly negative change in the working capital requirement in H1 2025 is explained by: a level of production at the end of 2024 higher than at the end of June 2025, a higher OEM inventories level compared to the end of December 2024 due to lower-than-expected volumes in June. However, total inventories (OEM level and independent dealers) stood at 530,000 vehicles at the end of June, down compared to March 2025 (560,000 vehicles). In order to take into account the deterioration of the automotive market trends with an increasing commercial pressure from its competitors and the anticipation of the continuation of the retail market decline, Renault Group is now aiming to achieve for FY 2025: an operating margin around 6.5% (versus ≥7% previously) a free cash-flow between 1.0 and 1.5 billion euros (versus ≥2 billion euros previously) In this context, Renault Group is pursuing its strict commercial policy, prioritizing value creation over volume to protect its launches. Renault Group is also strengthening its short-term cost reduction plan and accelerating on its initiatives with more structural levers. This plan is mainly based on SG&A cost reduction, manufacturing and R&D savings. All the details will be shared during the half-year results presentation. To meet the challenges of an increasingly competitive market, Renault Group can rely on its strong fundamentals: A flexible and agile business model to meet market demands for combustion, hybrid and electric vehicles, whatever the pace of the energy transition An attractive line-up for European and international markets, supported by 7 launches and 2 facelifts in 2025 to complement the 10 launches and 2 facelifts in 2024 A focus on the most profitable channel of sales to retail customers in Europe (+15 points above market average) A rigorous approach to residual values1, 4 to 13 points higher than European peers A strong orderbook in Europe, representing around two months of sales, reflecting the success of the products A healthy management of inventories A high plant utilization rate, around 90% on average The preliminary figures released in this press release are not audited. Renault Group will publish its H1 2025 results on July 31, 2025. A press conference will be held today at 18:15 (CEST) with Duncan Minto, Renault Group Interim CEO and CFO: Conference streaming RENAULT GROUPPRESS RELATIONS Valérie Gillot +33 6 83 92 92 Rie Yamane +33 6 03 16 35 20 GROUPINVESTOR RELATIONS Philippine de 6 13 45 68 39 About Renault Group Renault Group is at the forefront of a mobility that is reinventing itself. The Group relies on the complementarity of its 4 brands - Renault - Dacia - Alpine and Mobilize - and offers sustainable and innovative mobility solutions to its in 114 countries, Renault Group sold 2.265 million vehicles in 2024. It employs more than 98,000 people who embody its Purpose every day, so that mobility brings people to pursue challenges both on the road and in competition, the Group is committed to an ambitious and value-generating transformation focused 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. 1 For the Renault and Dacia brands (passenger cars) in France, Germany, Spain, Italy and the United Kingdom. Attachment Press release RG July 15 2025Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-07-2025
- Automotive
- Yahoo
Employee share ownership, a sustained commitment
PRESS RELEASEJuly 2, 2025 RENAULT GROUP: EMPLOYEE SHARE OWNERSHIP, A SUSTAINED COMMITMENT For the fourth consecutive year, Renault Group's employee shareholding plan has set a new record. With a subscription rate of 44.3%, continuing to rise since 2023, this edition confirms employees' commitment to collective success. In total, nearly 95,000 employees will receive 3 free shares. Among them, nearly 48,000 also subscribed to shares at a preferential price of €31.34, reflecting a 30% discount. This 2025 edition will result in the transfer of nearly 1.52 million additional shares to employees, representing 0.52% of Renault SA's share capital. Following the operation, employees will hold approximately 6.31% of the company's capital. Boulogne-Billancourt, July 2, 2025 – Held from May 12 to 30, 2025, the fourth edition of Renault Group's employee shareholding plan enabled employees in 30 countries1 to receive 3 free shares, and those in 24 countries to subscribe under preferential conditions. With nearly 95,000 employees taking part, this high level of participation reflects the growing trust in employee shareholding - a key driver of employee engagement and collective success. 'By renewing this initiative, Renault Group reaffirms its commitment to sharing the value created with those who make it possible every day. The strong participation in the employee shareholding plan reflects the trust our people place in the Group's strategy and their deep connection to the company. For the fourth consecutive year, their engagement confirms the key role employee shareholding plays in shaping our corporate culture. With 6.31% of the company's capital now held by employees, we are strengthening a model based on shared performance, recognition, and trust - essential levers for building a sustainable future together.' said Bruno Laforge, Chief People and Organization Officer, Renault Group Employee shareholding: a key driver of collective performance The contributions provided as part of the 2025 employee shareholding plan (up to 6 free shares per employee2) represent approximately 359,000 shares, or 0.12% of Renault SA's capital, which will be allocated free to the Group's employees. In addition, nearly 48,000 employees - representing 44.3% of eligible employees - participated in the share subscription offer under the plan. Employees' total investment amounted to over €36.5 million. This corresponds to more than 1,165,000 subscribed shares, or 0.40% of Renault SA's share capital. In total, the operation will result in the transfer of approximately 1,524,000 shares to employees - equivalent to 0.52% of Renault SA's capital - held through an Employee Mutual Fund (FCPE) or, in some countries, directly in a registered securities account. Following the allocation of shares under the plan, employees will hold approximately 6.31% of Renault SA's capital. RENAULT GROUPINVESTOR RELATIONS Philippine DE (0)6 13 45 68 39RENAULT GROUP PRESS CONTACT Rié YAMANE+33 6 03 16 35 Florentina DECA +33 6 32 13 69 About Renault Group Renault Group is at the forefront of a mobility that is reinventing itself. The Group relies on the complementarity of its 4 brands – Renault, Dacia, Alpine, Mobilize – and offers sustainable and innovative mobility solutions to its customers. Established in 114 countries, Renault Group sold 2.265 million vehicles in 2024. It employs more than 98,000 people who embody its Purpose every day, so that mobility brings people closer. Ready to pursue challenges both on the road and in competition, the Group is committed to an ambitious and value-generating transformation focused 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, Renault Group's ambition is to achieve carbon neutrality in Europe by 2040. More information : 1 Germany, Argentina, Austria, Belgium, Brazil, China, Colombia, South Korea, Croatia, Spain, France, Hungary, India, Ireland, Italy, Malta, Morocco, Mexico, Netherlands, Poland, Portugal, Czech Republic, Romania, United Kingdom, Slovakia, Slovenia, Sweden, Switzerland, Türkiye, and Ukraine.2 Unilateral matching contribution equivalent to 3 shares, with an additional matching contribution capped at the equivalent of 3 shares in case of subscription to the offer. Attachment 20250702_Renault Group_Press Release_Employee Shareholding planFehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
01-07-2025
- Automotive
- Yahoo
Evolution of the accounting treatment of Renault Group's stake in Nissan
PRESS RELEASEJuly 1, 2025 Evolution of the accounting treatment of Renault Group's stake in Nissan Renault Group's stake in Nissan, which was previously accounted for under the equity method, will be treated as a financial asset measured at fair value through equity, estimated on the basis of Nissan's stock price, as of June 30, 2025. This approach aligns the value of the stake in Nissan in Renault Group's financial statements with the value of Nissan's share price. The financial impact, which is non-cash and has no impact on the calculation of the dividend paid by Renault Group, is estimated at a loss of €9.5 billion1, recognized in the income statement, mostly in other operating income and expenses as of June 30, 2025. The operational projects and collaboration resulting from the strategic cooperation between Renault Group and Nissan remain intact with a pragmatic and business-oriented approach. Boulogne-Billancourt, July 1, 2025 – As of June 30, 2025, Renault Group will change the way it accounts for its stake in Nissan. Previously accounted for using the equity method, this investment will now be a financial asset measured at fair value through equity (estimated on the basis of Nissan's stock price). Accounting impacts of the change in method The implementation of this new accounting treatment, resulting from the recent changes in the terms and conditions for the exercise by Renault Group of its rights related to its stake in Nissan, will result in the recognition of a loss estimated at €9.5 billion1, which will be recognized in the income statement, mostly as 'other operating income and expenses' at the date of the change, with no cash impact and no impact on the calculation of the dividend paid by Renault Group. This amount corresponds to the difference between the present carrying value of the investment and its estimated fair value based on Nissan's stock price as of June 30, 2025, plus the impact of the recycling of conversion reserves and net investment hedges related to Nissan's equity-accounted securities. Thereafter, any change in the fair value of the stake in Nissan (estimated on the basis of Nissan's stock price) will be directly recognized in equity, with no impact on Renault Group's net income. This approach aligns the value of the stake in Nissan in Renault Group's financial statements with the value of Nissan's share price. A pragmatic and business-oriented approach Although this accounting change implies a significant adjustment to Renault Group's financial statements, it does not change the strategic and operational commitments between Renault Group and Nissan. The two partners continue to work on joint industrial and technological development programs, as evidenced by the new strategic projects announced on March 31, 2025. These initiatives illustrate a relationship based on pragmatic and business-oriented decisions and show a common desire to maximize synergies and create value for both companies, while allowing each to maintain flexibility and efficiency for their operations. About Renault Group Renault Group is at the forefront of a mobility that is reinventing itself. The Group relies on the complementarity of its 4 brands - Renault - Dacia - Alpine and Mobilize - and offers sustainable and innovative mobility solutions to its customers. Established in 114 countries, Renault Group sold 2.265 million vehicles in 2024. It employs more than 98,000 people who embody its Purpose every day, so that mobility brings people to pursue challenges both on the road and in competition, the Group is committed to an ambitious and value-generating transformation focused 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. RENAULT GROUP INVESTORRELATIONS Philippine de Schonen+33 6 13 45 68 RENAULT GROUP PRESS RELATIONS Rie Yamane+33 6 03 16 35 François Rouget+33 6 23 68 07 1 Estimation based on a Nissan's stock price of JPY350 and a EUR/JPY exchange rate of 169 (the definitive amount will be confirmed when Renault Group's half-year financial statements are published). Attachment 20250701_PR_Renault Group_Change of accounting methodError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-07-2025
- Automotive
- Yahoo
Evolution of the accounting treatment of Renault Group's stake in Nissan
PRESS RELEASEJuly 1, 2025 Evolution of the accounting treatment of Renault Group's stake in Nissan Renault Group's stake in Nissan, which was previously accounted for under the equity method, will be treated as a financial asset measured at fair value through equity, estimated on the basis of Nissan's stock price, as of June 30, 2025. This approach aligns the value of the stake in Nissan in Renault Group's financial statements with the value of Nissan's share price. The financial impact, which is non-cash and has no impact on the calculation of the dividend paid by Renault Group, is estimated at a loss of €9.5 billion1, recognized in the income statement, mostly in other operating income and expenses as of June 30, 2025. The operational projects and collaboration resulting from the strategic cooperation between Renault Group and Nissan remain intact with a pragmatic and business-oriented approach. Boulogne-Billancourt, July 1, 2025 – As of June 30, 2025, Renault Group will change the way it accounts for its stake in Nissan. Previously accounted for using the equity method, this investment will now be a financial asset measured at fair value through equity (estimated on the basis of Nissan's stock price). Accounting impacts of the change in method The implementation of this new accounting treatment, resulting from the recent changes in the terms and conditions for the exercise by Renault Group of its rights related to its stake in Nissan, will result in the recognition of a loss estimated at €9.5 billion1, which will be recognized in the income statement, mostly as 'other operating income and expenses' at the date of the change, with no cash impact and no impact on the calculation of the dividend paid by Renault Group. This amount corresponds to the difference between the present carrying value of the investment and its estimated fair value based on Nissan's stock price as of June 30, 2025, plus the impact of the recycling of conversion reserves and net investment hedges related to Nissan's equity-accounted securities. Thereafter, any change in the fair value of the stake in Nissan (estimated on the basis of Nissan's stock price) will be directly recognized in equity, with no impact on Renault Group's net income. This approach aligns the value of the stake in Nissan in Renault Group's financial statements with the value of Nissan's share price. A pragmatic and business-oriented approach Although this accounting change implies a significant adjustment to Renault Group's financial statements, it does not change the strategic and operational commitments between Renault Group and Nissan. The two partners continue to work on joint industrial and technological development programs, as evidenced by the new strategic projects announced on March 31, 2025. These initiatives illustrate a relationship based on pragmatic and business-oriented decisions and show a common desire to maximize synergies and create value for both companies, while allowing each to maintain flexibility and efficiency for their operations. About Renault Group Renault Group is at the forefront of a mobility that is reinventing itself. The Group relies on the complementarity of its 4 brands - Renault - Dacia - Alpine and Mobilize - and offers sustainable and innovative mobility solutions to its customers. Established in 114 countries, Renault Group sold 2.265 million vehicles in 2024. It employs more than 98,000 people who embody its Purpose every day, so that mobility brings people to pursue challenges both on the road and in competition, the Group is committed to an ambitious and value-generating transformation focused 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. RENAULT GROUP INVESTORRELATIONS Philippine de Schonen+33 6 13 45 68 RENAULT GROUP PRESS RELATIONS Rie Yamane+33 6 03 16 35 François Rouget+33 6 23 68 07 1 Estimation based on a Nissan's stock price of JPY350 and a EUR/JPY exchange rate of 169 (the definitive amount will be confirmed when Renault Group's half-year financial statements are published). Attachment 20250701_PR_Renault Group_Change of accounting method
