Renault : The beat goes on
>Solid 2022 performance and even more solid 2023 outlook to drive upgrades - Even though this was likely widely expected, Renault FY 2022 earnings were very robust and above both the guidance and expectations with the EBIT margin at 5.6% (vs >5.0% target and 5.5% consensus, in line with us at 5.6%), i.e. 6.4% for H2 alone, and Automotive FCF at € 2.1bn (vs >€ 1.5bn target, € 1.7bn consensus, ODDO BHF at € 2.0bn). On top, 2023 guidance also comes largely above expectat...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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