Renault Confirms 2014 Guidance as Third-Quarter Revenue Rises

By William Horobin

PARIS--Renault SA (RNO.FR) on Wednesday reported a 6.7% rise in revenue and confirmed its guidance for the year as the French car maker's growth in European markets offset declines in emerging markets.

Revenue in the third quarter rose to EUR8.53 billion ($10.86 billion) from EUR8 billion a year earlier. Investors were expecting third-quarter revenue of EUR8.19 billion, according to the average forecast of five analysts polled by Factset.

"Positive business momentum in Europe offset declines in Renault group's main emerging markets," the company said in a statement.

Overall, Renault still expects an increase in revenue and operating profit this year.

The car maker said it recorded a particularly strong performance in the U.K., Italy, Spain and Portugal, while its market share declined slightly in its home market.

Renault now expects the European car market to increase by 5% this year, instead of 3% to 4% previously forecast.

But declines in car registrations were strong in the Americas and in Russia, Renault said.

"Our main emerging markets should remain adverse and volatile in the fourth quarter," the company said.

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