Renault (1K) | Hold | No reason to be so shy about diversification

研报英文原文证据摘录

Renault (1K) | Hold | No reason to be so shy about diversification

#ModelReiterated

This insert is part of a sector report, which is Release date: 19 June 2026

available here

Company research

Hold Renault

France | Autos & parts Beta Profile: MCap: EUR7.4bn

Target Price: EUR31.00 Change in TP: none Bloomberg: RNO FP Reuters: RENA.PA

Current Price: EUR27.00 Change in Sales: none 26E/none 27E Free float 63.4%

Avg. daily volume (EURm) 72.0 Up/downside: 14.8% Change in Adj EBIT: none 26E/none 27E

YTD abs performance -23.8%

Market data: 19 June 2026 Change in Adj. EPS: none 26E/none 27E

52-week high/low (EUR) 41.86/26.69

No reason to be so shy about diversification Price performance

Why this report?

Renault is formally engaged with the French government on a EUR1bn drone- 46

assembly contract, with multiple joint projects with Thales announced last 4442

week. Renault operates with partners on such contracts; on its side, the 4038

French government covers all development costs. The Financial Times 36

reported that Renault is “conservative about the pivot to military production 32

and set an informal cap of 5 per cent of sales partly to ensure it did not breach 3028

investors’ environmental, social and governance lending or investment 26

Jun 25 Dec 25 Jun 26

guidelines”. Separately, Renault announced in June 2025 a minority stake in

Wandercraft, a French exoskeleton and robotics company, as a new partner. Price Stoxx Europe 600 (rebased)

Key findings

▪Renault signed a deal with French defence group Turgis Gaillard in January to

manufacture airborne drones for France at its components’ factory in Le Mans. FY to 31/12 (EUR) 12/25 12/26E 12/27E

▪The groups have agreed with France’s DGA defence procurement agency to create Sales (m) 57,922 57,545 58,783