SK Hynix Shares Hit Record High After Shipping Next-Generation HBM4E AI Memory Samples 
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns 
Carro Expands Into Australia With Acquisition of Used-Car Platform CarPlace 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
Frank Stronach Found Guilty of Sexual Assault and Indecent Assault in Ontario Court 
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand 
John Jumper Leaves Google DeepMind for Anthropic Amid Intensifying AI Talent Race 
Trump Says Anthropic No Longer Seen as National Security Threat 
Jio IPO Filing Nears as Reliance Targets $4 Billion Market Debut 
SpaceX Surpasses Amazon in Market Value as Post-IPO Rally Accelerates 
US-Iran De-Escalation Shifts Washington’s Focus to AI Regulation and Crypto Legislation 
Trump Administration Delays DeepSeek and CXMT Trade Blacklist Designations Amid U.S.-China Tensions 
Ukrainian Drone Makers Target Japan and Asia Defense Market 
SpaceX Stock Slides After IPO Rally as Valuation Concerns Grow 
BHP Shares Fall as Jansen Potash Project Costs Surge 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
Volvo Car AB (ST:VOLCARb) reported a 12% drop in revenue for the first quarter of 2025, hit by challenging market conditions. Revenue fell to SEK 82.9 billion from SEK 93.9 billion in Q1 2024, while operating income excluding joint ventures and associates plunged to SEK 1.9 billion from SEK 6.8 billion. The EBIT margin dropped sharply to 2.3% from 7.2% a year earlier, and basic earnings per share fell to SEK 0.40 compared to SEK 1.12.
Retail sales slipped 6% to 172,219 vehicles, impacted by a 19% drop in wholesale volumes due to planned inventory reductions and currency pressures. Despite lower sales, Volvo (OTC:VLVLY) improved its free cash flow through stronger working capital management and the sale of its stake in Lynk & Co.
In response, the Swedish automaker announced an SEK 18 billion cost and cash action plan, aimed at enhancing operational efficiency and profitability. The plan includes SEK 3 billion in variable cost cuts, SEK 5 billion in indirect spending savings, and SEK 10 billion in cash flow improvements over two years, with the main effects expected in 2026.
CEO Håkan Samuelsson emphasized the need for improved results amid industry turbulence, stressing a focus on cash flow and cost reduction. Electrification remains a priority, with fully electric vehicles accounting for 19% of Q1 sales, down from 21% last year, while the share of electrified models rose to 43%.
Volvo Cars warned that 2025 will be challenging due to macroeconomic headwinds, price competition, and tariffs, and said it will not issue financial guidance for 2025 and 2026. The company remains committed to long-term goals of profitability, electrification, and regionalization.
