The shares of Renault Group slipped 8% on Thursday as investors assessed the company's latest earnings report.
In the first six months of fiscal 2024, the business registered a revenue of €27 billion, 0.4% up compared to the same period in 2023. Meanwhile, net income slumped 33% year over year, landing at €1.4 billion. "Our efforts to reduce costs and focus our commercial policy on value are reflected in a new line-up, the best one that this company has had in 3 decades. We have implemented the traditional levers of performance improvement, but we have also reconnected the company with the innovative mindset that once made its golden years," CEO Luca de Meo mentioned.
The firm's stock plunged 8% at 9:05 am CET, going for €48.73 apiece.
