Renault Cuts 2019 Operating Margin And Revenues Outlook
(RTTNews) - Groupe Renault (RNSDY.PK, RNSDF.PK, RNT.L) said it cuts its operating margin and revenues outlook for fiscal year 2019, due to an economic environment less favorable than expected and in a regulatory context requiring ever-increasing costs.
The French carmaker now expects 2019 revenue declining by 3% to 4%, Previously, it expected annual revenue to be close to last year's level at constant exchange rates and perimeter. Annual group operating margin will be around 5%, below previous estimation of 6%.
The company reported its revenues for the third-quarter decreased 1.6 percent to 11.3 billion euros from 11.5 billion euros last year. At constant exchange rates and perimeter, the decline would have been 1.4%.
The company will publish detail results on 25th October.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.