BOULOGNE-BILLANCOURT (dpa-AFX) - Groupe Renault (RNSDY.PK, RNSDF.PK, RNT.L) said it cuts its operating margin and revenues outlook for fiscal year 2019, due to an economic environment less favorable than expected and in a regulatory context requiring ever-increasing costs.
The French carmaker now expects 2019 revenue declining by 3% to 4%, Previously, it expected annual revenue to be close to last year's level at constant exchange rates and perimeter. Annual group operating margin will be around 5%, below previous estimation of 6%.
The company reported its revenues for the third-quarter decreased 1.6 percent to 11.3 billion euros from 11.5 billion euros last year. At constant exchange rates and perimeter, the decline would have been 1.4%.
The company will publish detail results on 25th October.
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