Renault SA
0.02 (0.05%)
Share Name Share Symbol Market Type
Renault SA EU:RNO Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.02 0.05% 37.60 37.30 37.70 37.73 37.255 37.69 898,038 16:40:00

Renault Shares Fall Following Hit From Nissan's Russia Exit

11/10/2022 12:29pm

Dow Jones News

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By Maitane Sardon and Cristina Roca


Shares in Renault SA fell Tuesday after the company said its earnings would take a 331 million-euro ($321.2 million) hit from Nissan Motor Co.'s exit from the Russian market.

The French car maker said the hit will be reflected in its second-half net income but that its guidance for the full year remains unaltered.

At 1050 GMT, shares were down 4.5% at EUR30.03.

Earlier on Tuesday, Japan's Nissan--in which Renault owns a controlling stake--said it would book a loss of about 100.0 billion yen ($686.2 million) from the sale of its Russian unit.

Renault also said it expects an operating margin of more than 5% and automotive operational free cashflow of more than EUR1.5 billion for 2022.


Write to Maitane Sardon at maitane.sardon@wsj.com and Cristina Roca at cristina.roca@wsj.com


(END) Dow Jones Newswires

October 11, 2022 07:14 ET (11:14 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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