Renault: positive trend thanks to Nissan's contribution

(CercleFinance.com) - Renault announced on Thursday that Nissan's contribution to its own results was estimated at E225m for Q1 2024.


This announcement, which follows the Japanese automotive group's publication of Q4 results ended 31 March, was welcomed in Paris this morning.

Renault shares are currently up around 2%, in the lead in a CAC 40 index that is pretty flat.

Last month, the stock had suffered from the downward revision of its partner's annual financial targets, synonymous with a lower contribution to its results.

But its share price subsequently recovered, thanks to the announcement by the group with the diamond-shaped logo of first-quarter sales slightly ahead of expectations.

Following the recent restructuring of their alliance, Renault Group's stake in Nissan's capital has been reduced to 38.9%, including 16.2% directly held shares and 22.7% shares held in a trust.

The French group plans to eventually hold only a 15% stake in Nissan, compared with over 43% last year.

Nissan will continue to hold a 15% stake in Renault.

Renault is due to publish its H1 results on Thursday 25 July.


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