Renault Sa Unsp/Adr (RNLSY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Renault Group's first quarter 2026 conference call. I remind you that this call is broadcast live and will be available in replay version on our website. This presentation will be done by Duncan Minto, the Group CFO, and will be followed by a Q&A session. Duncan, the floor is yours. Thanks, Florent. Good morning, everybody, or good afternoon, depending on where you're connecting. It's pleased to be with you this morning to present our Q1 revenue and sales performance. So let's go straight ahead. In Q1, group revenue increased by 7.3% compared to last year and stood at 12.5 billion euros. At constant exchange rates, it was up 8.8%. As you know, in 2026, mobility services revenue has been reintegrated in the automotive segment following the reorganization of these activities. This reintegration amounted to 17 million euros in Q1 2026 and to 23 million euros in Q1 last year. Thus, automotive revenue stood at €10.8 billion this quarter compared to the €10.2 billion in Q1 2025, which is an increase of 6.5% or 8% at constant exchange rates. Mobilised financial services revenue was up 13% to €1.7 billion. So drilling into the automotive revenue, which stood once again at 10.8 billion euros in q1 up eight percent at constant exchange rates the negative forex impact was minus 1.5 points mainly related to the devaluation of the turkish lira and to a lesser extent the argentinian piso a strong sales increase in turkey implied a more negative impact of the turkish lira on revenue however it should be partly offset in terms of margin by the positive effect on production costs. The volume effect, the second slot, was negative by minus 2.1 points in the quarter, mainly due to the minus 3.3 decrease in group registrations. In addition, it's worth highlighting that the ind...