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Renault Group Slashes 2022 Outlook, Targets 3% Margin

Renault Group's revised outlook reflects its commitment to transformation. Despite a significant non-cash charge, the Group remains optimistic about its future prospects.

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This is a presentation and here we can see vehicles on the road and we can see some text written.
This is a presentation and here we can see vehicles on the road and we can see some text written.

Renault Group Slashes 2022 Outlook, Targets 3% Margin

Renault Group has announced significant revisions to its 2022 financial outlook. A non-cash adjustment charge of €2,195 million will impact the first half results. The Group now targets an operating margin of around 3% and expects a positive automotive operating free cash flow, a notable improvement from previous projections.

The revised financial outlook reflects Renault Group's commitment to its strategic plan, Renaulution. Led by CEO François Provost and a strengthened executive team, Renaulution aims to transform the Group's performance and competitiveness. The plan includes organisational updates and leadership changes, such as the appointment of Katrin Adt as the new CEO of Dacia.

The non-cash adjustment charge will affect the first half results but is not expected to influence the Group's long-term strategy. Instead, it reflects Renault's focus on improving operational efficiency and cost management.

Renault Group's revised financial outlook and commitment to Renaulution signal a proactive approach to navigating the automotive industry's challenges. Despite the significant non-cash charge, the Group remains optimistic about its future prospects, with an expected positive automotive operating free cash flow and a targeted operating margin of around 3% for 2022.

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