Renault for the first half of why 2020 is a symptom of a health crisis

30.7.2020. Renault Group sales in the first half of 18.4 billion euros in 2020, (28,05 billion euros) less compared to the same period of the previous year, an increase of percent achieved in 1975. With global sales fell 1.26 per cent to a level of 628 million units.

Taking into account the negative impact of the health care crisis is estimated at 1.8 billion euros, the company recorded a negative operating margin of -1.2 billion euros in the first six months. The net result is minus 7,386 billion euros, strong (-4,817 billion euros) was influenced by the negative contribution of partner Nissan. Negative free cash flow in the automotive section for the Renault Group, stood at minus 6,375 billion euros. 31 liquidity reserves of 16.8 billion euros, more than the automotive section, or at the level of 6.5 billion euros. March 2020.

Renault’s CEO, Luca de Meo, the current situation is unprecedented, but I’m sure she says:””. Along with all of the management teams and staff, also beyond reducing our fixed costs through strict discipline, we will do everything in order to improve the status of the company. We are actively working on our strategy and to prepare for the future. To recover, I have complete confidence in the ability of the Renault Group.“

Board Via Delbos, Renault vice president: “the health crisis that we are living right now, a huge negative of a group affected the results of half a year. The commitment of our employees has provided the opportunity to intervene in this case. 2022 and our cash reserve this commitment for the project, of course, the new CEO’s cost reduction plan and the start of the trend, I’m sure we can create a return as quickly as possible.“

Outlook to 2020

Health status, both in Europe and in developing countries, and in light of the current uncertainties in relation to the Renault Group for the year 2020, it is not possible to give a reliable estimate. In addition, the Renault Group confirmed the target year 2020, savings in the amount of EUR 600 million fixed costs.

Renault plug-in hybrid drives: Clio, Megane, Captur, e-tech plug-in, Renault, 2020 (source: Renault)

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