(CercleFinance.com) – Renault announced Thursday that Nissan’s contribution to its own results was estimated at 225 million euros for the first quarter of 2024.
This announcement, which follows the publication by the Japanese automobile group of the results of its staggered fourth quarter, ended March 31, was well received on the Paris Stock Exchange this morning.
Shortly before 10:00 a.m., Renault shares recorded, with a gain of 1.7%, the largest increase in a CAC 40 index down 0.1%.
The stock suffered last month from the downward revision of its partner’s annual financial objectives, synonymous with a lesser contribution to its results.
But its stock price subsequently recovered, thanks to the announcement by the diamond group of first quarter turnover slightly higher than expectations.
Following the recent overhaul of their alliance, Renault Group’s stake in Nissan’s capital was reduced to 38.9%, including 16.2% of shares held directly and 22.7% of shares held in a trust.
The French group plans, ultimately, to retain only a 15% stake in Nissan, compared to more than 43% last year.
Nissan will continue to hold a 15% stake in Renault.
Renault is due to publish its first half results on Thursday July 25.
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