Renault SA (WBO:RNO)

€ 39.85 1.12 (2.89%) Market Cap: 11.41 Bil Enterprise Value: 58.43 Bil PE Ratio: 7.95 PB Ratio: 0.38 GF Score: 68/100

Half Year 2022 Renault SA Earnings Call Transcript

Jul 29, 2022 / 06:00AM GMT

Release Date Price: €28.8 (+4.79%)

Transcript

Luca de Meo

Renault SA - CEO & Member of the Management Board

(foreign language) Two years in advance and above our 2023 guidance. So we also suggested that Renault Group transformation was moving forward with substantial improvements on all fundamentals that made us confident in our ability to overcome future headwinds. That's what we said. And we had a lot of course, of headwinds in this last month.

So this is the outcome. In H1, our profitability reached 4.7% up 2.6 points from H1 last year. We generated around EUR 1 billion of free cash flow. This is up EUR 1.5 billion. And since the end of last year, our net debt was reduced by EUR 1.2 billion, and this includes EUR 0.5 billion from the deconsolidation of our Russian automotive operation. So by June 30, our net debt amounted to only EUR 426 million. So these results place us at a 10-year high in terms of cash generation for the first semester.

We also achieved our best margin on variable cost in Europe per unit in 10 years. We did that, as you know, in probably the worst environment in 15 years, electronic component crisis,

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