Delbos

Renault : sortir de la politique de l'autruche

Submitted by Géry Deffontaines, GERPISA on 20 October, 2019 - 23:00

La chronique hébdomadaire de Bernard Jullien Ancien directeur du Gerpisa, maître de conférences en économie à l'Université de Bordeaux et conseiller scientifique de la Chaire de Management des Réseaux du Groupe Essca.

Comme pour marquer sa différence et/ou pour souligner ce qui avait pu l’opposer à Thierry Bolloré, Clotilde Delbos a entamé son intérim à la direction générale du groupe Renault par un "profit warning" : non, le retour à un cash flow positif au second semestre ne permettra pas de compenser le cash flow négatif de 700 millions d’euros du premier; non, le chiffre d’affaires ne sera pas constant mais baissera de 3 à 4% de même que la marge opérationnelle sera plutôt de 5% que de 6% comme annoncé en juillet ; non, le plan 2022 ne vas pas être tenu et il est urgent de le redéfinir pour que chacun sache où il va.

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English

Renault: getting out of the ostrich policy

Submitted by Géry Deffontaines, GERPISA on 20 October, 2019 - 23:00

The weekly column of Bernard Jullien Former director of Gerpisa, associated professor at the University of Bordeaux.

As if to mark his difference and/or to highlight what might have opposed her to Thierry Bolloré (Renault's former CEO, recently laid off), Clotilde Delbos (appointed to replace him) began her interim period at the head office of the Renault group with a "profit warning": no, the return to positive cash flow in the second half of the year will not offset the €700 million negative cash flow of the first half; no, revenue will not be constant but will fall by 3 to 4% and the operating margin will be 5% rather than 6% as announced in July; no, the 2022 plan will not be implemented and it is urgent to redefine it so that everyone knows where he is going.

She did not just talk to the analysts. She also spoke on Tuesday in a video for employees to tell them that the "Drive the Future" plan had to be taken up again because the market has changed over the past two years and that "unfortunately, the situation did not improve during the summer" and requires that the strategy be adjusted to "get Renault back on track".

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