Renault SA set cautious goals to gradually return to pre-pandemic earnings performance, reflecting the challenges Chief Executive Officer Luca de Meo will have turning around the struggling French carmaker.
The company is targeting an operating margin of more than 3% by 2023 and at least 5% by mid-decade, according to a statement Thursday. This compares with a 4.8% return in 2019, before the manufacturer racked up record losses in the midst of the health crisis.
