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Renault designates interim director meets:
Renault revised its annual objectives slightly due to the “deterioration of the dynamics of the automotive market”. Similarly, said on Tuesday the financial director of the Duncan Minto group, appointed interim managing director while finding a replacement for Luca de Meo.
The automaker now targets operating margin around 6.5% of turnover, against a margin greater than or equal to 7% previously.
The manufacturer has faced in June for sales volumes “slightly below expectations”. For example, “increased commercial pressure linked to the continuation of market decline” to individuals.
An “underperformance” of utility sales on a high-folded market in Europe also spoiled the table of the first half. For example, presented in advance by Renault with preliminary results. Furthermore,
The turnover of the French manufacturer (Brands Renault, Dacia, Alpine) reached 27.6 billion renault designates interim director meets euros in the first half, still growing by 2.5% over a year. Furthermore,
But the operating margin has only reached 6% of the turnover. Consequently, the available cash flows fell to 47 million euros due to high production levels (factories run 90% of their capacity on average) and stocks of cars “up” over six months, with 530,000 vehicles at the end of June.
The available cash flows (Free Cash-Flow) should thus be included at the end of 2025 between 1 and 1.5 billion euros, against 2 billion euros or more planned previously.
“It’s a shame to be 6%. We expected a little higher in the first half,” said Duncan Minto during a call with financial analysts. “But we are still talking about a positive dynamic in the second half of the year”.
– Reduction of costs –
To bounce renault designates interim director meets back. Renault will “strengthen” its cost reduction plan, which includes a drop in general and administrative costs but also production and research and development costs, said Duncan Minto.
The group’s management must give more details on these measures on Thursday. August 30, during the complete presentation of its half -yearly results.
Duncan Minto. a 50 -year -old Ecossa, was appointed head of the French car manufacturer on Tuesday, while the group replaces Luca de Meo. After starting his career at Renault in 1997, he had become a financial director of the group in March 2025.
These announcements are not linked to the departure of M. de Meo this Tuesday for Kering, the luxury group of François-Henri Pinault, assured Duncan Minto.
Taken short in mid-June by the announcement of this surprise departure. Renault’s management had immediately launched the process of appointing a new renault designates interim director meets managing director.
But a month will not have been enough to decide between the prolonged candidates. including the boss of Dacia Denis Le Vot and the ex-figure of Stellantis Maxime Picat.
The process of appointment of the new director general “takes place very normally”. “should not last long”, underlined at a press conference Duncan Minto, who had his entire career in the Renault group.
The diamond group. which was at the bottom of the abyss in 2020, made a spectacular rise under the mandate of Luca de Meo by turning its offer to vehicles above.
The Italian boss was proud to be one of the only players in the automobile not to. have revised his objectives down at the end of 2024. But the slowdown in the European automotive market ended up braking Renault.
The group does not see the renault designates interim director meets individual market to improve in the second half, said Duncan Minto.
But the new managing director says it counts on its offer made up of electric but also hybrid. petrol models to adapt to the rate of market electrification, saws of saw, and on the launch of several new models by the end of the year.
Posted on July 15 at 7:59 p.m. AFP
Renault designates interim director meets
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