BOULOGNE-BILLANCOURT (dpa-AFX) - Renault Group (RNSDY.PK, RNSDF.PK, RNT.L), a French auto-major, on Thursday registered a rise in revenue for the third-quarter.
In addition the Group said that it expects fourth-quarter sales to improve, while reaffirming annual operating margin outlook.
Thierry Pieton, CFO of Renault Group, said: 'Our Q3 revenue is starting to benefit from our unprecedented product offensive, with 10 new launches this year, representing 18% of our invoices over the quarter. This trend will continue over the next quarters in line with the gradual introduction of vehicles on their respective markets and will accelerate further with the 7 new launches planned for 2025.'
For the three-month period, the company posted revenue of 10.701 billion euros, higher than 10.507 billion euros, recorded for the same periods last year.
Revenue from Sales Financing or Mobilize Financial Services moved up to 1.340 billion euros from prior year's 1.102 billion euros. This is due to higher interest rates and to the increase of average performing assets at 56.5 billion euros which improved by 8.5 percent, year-on-year basis.
The Group's worldwide sales reached 482,468 vehicles, down 5.6 percent from last year.
Renault brand's sales totaled 339,307 units, down 4.9 percent from previous year.
Looking ahead, for the fourth quarter, the automobile major expects its Group sales to strengthen by the progressive deployment of seven new vehicles across European countries, including Renault 5 E-Tech electric, New Renault Captur, Renault Symbioz, New Renault Master, New Dacia Spring, All-New Dacia Duster, and Alpine A290.
For the full year, the Group still expects to record operating margin superior or equal to 7.5 percent.
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