Moreover,
Renault comes across new unpleasant:
According to them. Consequently, it is in particular “due to a month of June disappointing in terms of volumes, the performance of commercial vehicles (utilities, editor’s note) in Europe”, among other factors, that Renault now aims to operate around 6.5% of its turnover, against a margin greater than or equal to 7% previously targeted.
Pressure cash flow – Renault comes across new unpleasant
The available cash flow (Free Cash Flow) will be between 1 and 1.5 billion euros, compared to 2 billion euros or more planned before.
“The whole objective for the manufacturer in the coming weeks. Moreover, the coming months will be to convince regarding the reality of the improvement promised in the second half,” said Marc Lavaud, analyst of Oddo BHF.
“We arrive at the critical moment”
“If tangible elements seem essential to us (volumes launches. use of renault comes across new unpleasant utility orders, cost reduction, stocks in particular), the rapid appointment of a new CEO (Managing Director, Editor’s note) also seems to us a necessary prerequisite (but undoubtedly insufficient) with in sight a presentation of the future Futurama strategic plan, always hoped for at the end of the year,” he continued.
The manufacturer must give more details on its cost reduction plan on August 30. during the complete presentation of its half -yearly results.
Taken short in mid-June by the announcement of the surprise departure of his boss Luca de Meo for the luxury group Kering. the management of Renault had immediately launched the process of appointing a new managing director.
Tuesday evening. the automaker appointed Duncan Minto, its current financial director, as an interim managing director, time to find a replacement in Luca de Meo.
A 50 -year -old Ecossa. Duncan Minto renault comes across new unpleasant began his career at Renault in 1997 and had become a financial director of the group in March this year.
renault comes across new unpleasant — Renault comes across new unpleasant: According to them. it is in particular “due to a month of June disappointing in terms of volumes, the performance of commercial vehicles (utilities, editor’s note) in Europe”, among other factors, that Renault now aims to operate around 6.5% o.
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