Latest news with #RenaultGroup
Business Recorder
2 hours ago
- Automotive
- Business Recorder
Renault posts first-half loss of 11.2 billion euros
PARIS: Renault reported a first-half net loss attributable to the group of 11.19 billion euros ($12.78 billion) on Thursday, including a one-off 9.3 billion euros from writing down its investment in partner Nissan flagged earlier this month. Revenues at the French car maker came in at 27.6 billion euros, up 2.5% compared with a year earlier, helped by several new product launches, though its operating margin fell 2.1 percentage points to 6%. Renault lowered its annual forecast earlier this month after market conditions deteriorated, particularly in the commercial vehicle market. The group, whose sales volume growth slowed to 1.3% in the first half, now expects an operating margin of around 6.5% in 2025, compared with at least 7% previously targeted, and free cash flow of between 1.0 billion and 1.5 billion euros, compared with at least 2 billion previously anticipated. 'Our first-half results, in a challenging market, were not aligned with our initial ambitions,' said Francois Provost, appointed new CEO of the group late on Wednesday. 'Nevertheless, Renault Group's profitability remains a reference in our industry, and we are determined to maintain this standard,' he added in a statement. Excluding the impact related to Nissan, its net income attributable to the group reached 461 million euros.
Reuters
3 hours ago
- Automotive
- Reuters
Renault posts first-half loss of 11.2 billion euros
PARIS, July 31 (Reuters) - Renault ( opens new tab reported a first-half net loss attributable to the group of 11.19 billion euros ($12.78 billion) on Thursday, including a one-off 9.3 billion euros from writing down its investment in partner Nissan (7201.T), opens new tab flagged earlier this month. Revenues at the French car maker came in at 27.6 billion euros, up 2.5% compared with a year earlier, helped by several new product launches, though its operating margin fell 2.1 percentage points to 6%. Renault lowered its annual forecast earlier this month after market conditions deteriorated, particularly in the commercial vehicle market. The group, whose sales volume growth slowed to 1.3% in the first half, now expects an operating margin of around 6.5% in 2025, compared with at least 7% previously targeted, and free cash flow of between 1.0 billion and 1.5 billion euros, compared with at least 2 billion previously anticipated. "Our first-half results, in a challenging market, were not aligned with our initial ambitions," said Francois Provost, appointed new CEO of the group late on Wednesday. "Nevertheless, Renault Group's profitability remains a reference in our industry, and we are determined to maintain this standard," he added in a statement. Excluding the impact related to Nissan, its net income attributable to the group reached 461 million euros. ($1 = 0.8754 euros)
CNA
3 hours ago
- Automotive
- CNA
Renault posts first-half loss of 11.2 billion euros
PARIS :Renault reported a first-half net loss attributable to the group of 11.19 billion euros ($12.78 billion) on Thursday, including a one-off 9.3 billion euros from writing down its investment in partner Nissan flagged earlier this month. Revenues at the French car maker came in at 27.6 billion euros, up 2.5 per cent compared with a year earlier, helped by several new product launches, though its operating margin fell 2.1 per centage points to 6 per cent. Renault lowered its annual forecast earlier this month after market conditions deteriorated, particularly in the commercial vehicle market. The group, whose sales volume growth slowed to 1.3 per cent in the first half, now expects an operating margin of around 6.5 per cent in 2025, compared with at least 7 per cent previously targeted, and free cash flow of between 1.0 billion and 1.5 billion euros, compared with at least 2 billion previously anticipated. "Our first-half results, in a challenging market, were not aligned with our initial ambitions," said Francois Provost, appointed new CEO of the group late on Wednesday. "Nevertheless, Renault Group's profitability remains a reference in our industry, and we are determined to maintain this standard," he added in a statement. Excluding the impact related to Nissan, its net income attributable to the group reached 461 million euros. ($1 = 0.8754 euros)
Time of India
5 hours ago
- Automotive
- Time of India
Francois Provost named CEO and Director of Renault Group
The Board of Directors of Renault Group has appointed François Provost as the Chief Executive Officer of Renault S.A. and Chairman of Renault s.a.s. , effective July 31, 2025. The decision was taken at a meeting held on July 30 under the chairmanship of Jean-Dominique Senard, based on a recommendation from the Governance and Remuneration Committee. Provost has also been appointed as a Director of both Renault S.A. and Renault s.a.s. for a term of four years. Provost previously held the position of Chief Procurement, Partnerships and Public Affairs Officer at Renault Group. He has been with the company for 23 years and has held a range of operational and strategic roles in multiple regions. His international experience and understanding of sectoral issues were cited as key factors in his appointment. François Provost said, "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," he added.
France 24
15 hours ago
- Automotive
- France 24
Renault names Provost CEO after De Meo exit
His appointment comes as Renault confronts fierce competition that has weighed on profit margins as the industry shifts toward electric vehicles. De Meo quit in June to take over at French fashion conglomerate Gucci, prompting criticism from some unions that he was abandoning his efforts to reposition Renault for the coming challenges after five years on the job. Procurement director Prevost, 57, has been with Renault for 23 years and was one of De Meo's closest advisors, in particular for his "Renaultution" strategic plan. "Francois Provost will lead the group with discernment and determination in an environment that demands both rigour in execution, strategic vision, and the ability to innovate," board chairman Jean-Dominique Senard said ahead of Renault's first-half earnings Thursday. In July, the company lowered its operating profit forecast to "around 6.5 percent" from seven percent previously, citing "anticipation of the continuation of the retail market decline". The company has said it will prioritise value creation over volume, after sales rose 2.5 percent in the first half to 27.6 billion euros ($32 billion). "Renault Group benefits from strong fundamentals, with committed teams, an outstanding range of products, strong brands, and an innovative organisational model," Provost said in a statement. "These will be invaluable assets as we accelerate our transformation in an increasingly demanding environment."
