Renault Group adjusts its projected revenue forecast for the year 2023
Renault Group Achieves Record-Breaking Performance, Announces Revised Financial Outlook
In a significant development for the automotive industry, Renault Group, under the leadership of CEO Luca de Meo, has achieved record-breaking performance levels. This remarkable feat is part of a unique transformation aimed at making Renault Group the automotive company of the future.
The transformation, known as the Renaulution, is not a one-time event but a three-year commitment from the teams within Renault Group. This commitment has led to a value-oriented strategy that has propelled the Group to new heights.
The transformation strategy includes a product offensive, an unprecedented move across all Renault Group's brands. This offensive is intended to lead the company into the future, positioning it as a leader in the automotive industry. The product offensive is not a fleeting effort but a long-term strategy that is already showing promising results.
Luca de Meo, the CEO of Renault Group, declared the record-breaking performance and the revised financial outlook for the year 2023. The revised financial outlook includes an adjusted margin expectation of around 7% and a Group free cash flow target above €1 billion. These figures reflect the consistent commitment of the teams over the past three years during the Renaulution plan.
On July 27, 2023, at 8:00 AM (Paris time), a conference related to the half-year results will be held to provide further details about the Group's performance. Renault Group will publish its half-year results on this day.
While the Group has already achieved record-breaking performance, Luca de Meo emphasised that the product offensive is just beginning. The offensive is expected to further improve the Group's performance, solidifying its position as a leader in the automotive industry.
This news marks a significant milestone for Renault Group and the automotive industry as a whole, demonstrating the potential for transformation and growth in a challenging market. The success of Renault Group serves as an inspiration for other companies in the industry, highlighting the importance of a well-executed transformation strategy and a commitment to innovation and improvement.
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