Report
Richard Hilgert
EUR 147.86 For Business Accounts Only

Renault Reports Healthy Q3 Revenue Gain; Fair Value Estimate Raised to EUR 79

No-moat-rated Renault reported third-quarter automotive revenue of EUR 10.0 billion, up 13.5% even though currency was a 3.8-percentage-point headwind. Implying contribution from favorable product mix and pricing, unit volume as measured by registrations increased 10%, 350 basis points less than revenue. Renault reported that pricing contributed 4.6 percentage points to the year-over-year revenue increase. The French automaker discloses only its revenue in the first and third fiscal quarters.
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Underlying
Renault SA

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Richard Hilgert

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