Renault Reports 1Q Revenue Decline as We Expected, Tweaks 2019 Guidance; Maintaining EUR 90 FVE
No-moat-rated Renault reported a first-quarter automotive revenue decline of 5.5% to EUR 11.7 billion versus EUR 12.4 billion a year ago. Excluding a 2-percentage-point negative impact from currency translation, automotive revenue would have declined 3.5% year over year. Renault reported that volume and pricing contributed a decline of 4.7 and an increase of 0.3 percentage point, respectively, to revenue at constant currency. The French automaker discloses only revenue in the first and third fis...Renault is an automobile manufacturer. Co.'s activities have been organized into two main business sectors, in more than 120 countries: Automotive and Sales Financing. Co. designs, develops and sells passenger cars and light commercial vehicles. Following the acquisition of Romanian carmaker Dacia and Samsung Motors' operating assets in South Korea, Co. has three automotive brands: Renault, Dacia and Samsung. RCI Banque, Co.'s captive financing arm, finances sales of the Renault, Renault Samsung Motors (RSM) and Dacia brands, and, in Europe, the Nissan and Infiniti brands. In addition to these two activities, Co. has equity investments in the following two companies: Nissan and AVTOVAZ.
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