Renault's first-half profit beats estimates, sticks to 2024 outlook
By Nick Carey and Gilles Guillaume
LONDON, July 24 (Reuters) -Renault RENA.PA posted a better-than-expected operating profit for the first half of the year on Wednesday due to strong pricing and new vehicle launches, and stuck to its full-year profit-margin forecast.
The French automaker last week reported that its first-half sales volume rose 1.9% versus the same period in 2023 due to the strong performance of hybrid models in Europe, its key region.
Renault posted a higher operating margin of 8.1% for the first half of the year, up from 7.6% a year earlier and higher than the 7.9% expected by analysts.
This is a key metric for Renault, which has targeted a double-digit operating margin by 2030.
The automaker stuck to its full-year operating margin forecast of 7.4% or above.
Renault returned to growth last year after four consecutive years of declining unit sales, and is hoping that 10 new launches this year will keep the momentum.
The company had hoped to be at the forefront of legacy automakers' efforts to go electric, with a plan for the Renault brand to go fully electric by the end of the decade.
After touting Renault's efforts to electrify, CEO Luca de Meo called this week for a "little more flexibility" in the European Union's planned 2035 ban on combustion engine models.
But demand for EVs has slowed sharply in Europe, with data from the region's trade body showing last week that sales only rose 1.3% in the first half.
Automakers are instead seeing strong demand for more affordable and more convenient hybrids and are rolling out additional models to meet demand.
Renault has launched new hybrid models and executives said last week it will continue to do so.
Renault reported first-half revenue of 26.96 billion euros ($29.26 billion), up 0.4% over the previous year and above market forecasts of 26.9 billion euros.
The company said it currently has a strong order book equivalent to 2.6 months of forward-looking sales.
($1 = 0.9213 euros)
Reporting By Nick Carey; editing by David Evans
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
