Volvo Car AB (publ.) (VOLCAR_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and a very warm welcome to the presentation of VolvoCast's first quarter financial results for 2025 coming to you live from our headquarters in Gothenburg. My name is Ron. Those were, of course, images of the EX30 rolling off the production line in Ghent. We just started a few days ago. This morning for the earnings call, we have our president and chief executive, Håkon Samuelsson. We have our chief financial officer, Frederick Hansen. And at the top of this call, Håkon and Frederick will walk us through our performance. And thereafter, we'll throw it open for a question and answer round. Exactly how you participate in the Q&A round, it should be quite familiar to all of you by now, but I'll still come back closer to the Q&A session. But for now, Håkon, I leave the floor to you. Thank you, Ron. So good morning to all of you. We will tell you today what has happened during the quarter one and also very importantly, what are we acting on to counteract these results. So first, snapshot of the environment. It's very challenging. I think you can read that every day in the papers. We have a combination of three factors. The volume has dropped slightly, especially on the wholesale side. You will learn more about that. That's negative, of course. Pricing also pressured from new competition. A lot of new electric players on the market, but they're also influencing pricing generally. And on top of that, tariffs moving every day, new ideas. very negative of course for the sentiment on the market but also extra costs so these three factors are are behind the result which we will go into more in detail later sales is down to present revenues down also and of course the result of this drop in ebit from close to 5% down to 2.3%. And the cash flow also down, but not tha...