This Friday morning, the French group sees its title tumble on the stock market, a direct result of
the warning on its results announced the day before.
Shortly after the opening, the action of the tricolor builder fell more than 13%, in a market slightly down.
Thursday, at the end of the day, Renault had said in particular that it now expected annual turnover down 3% to 4%, while he expected so far a stable level of activity compared to to 2018. He had also announced a turnover down 1.6% for the third quarter.
The objectives of the "Drive the Future" plan also reviewed
The cash flow of the automotive business, they, "should be positive in the second half, but without guarantee that they are [are] for the year," he added. Here again, positive flows over the whole year were initially expected.
Finally, the new management wants to re-evaluate the objectives of the medium-term plan 'Drift the Future', she said without giving more details. This plan previously had a turnover of more than 70 billion euros and an operating margin of more than 7% by 2022.
Last week, the board of directors of the manufacturer had brutally ousted its general manager Thierry Bollore, in order to "give a new breath" to the company. The poor results announced Thursday may have precipitated his ouster.
Other industrialists heckled on the stock market
Among other industrial stocks heckled on the stock market on Friday, Remy Cointreau dropped more than 2%. Sales of the spirits group were penalized by the fall of tourism in Hong Kong.
Danone was penalized by the lowering of its revenue growth target for 2019, and lost about 7%.
Thales was down sharply, by more than 4%, also after the lowering of its turnover forecasts.
In services, Fnac Darty lost 10%. Despite a rise in sales, the group suffered from a decline in gross margin.
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https://www.lesechos.fr/industrie-services/automobile/renault-chute-lourdement-en-bourse-1141144
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