China Is Quickly Eroding America's Lead in the Global AI Race
In Europe, the Middle East, Africa and Asia, users ranging from multinational banks to public universities are turning to large language models from Chinese companies such as startup DeepSeek and e-commerce giant Alibaba as alternatives to American offerings such as ChatGPT.
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Yahoo
9 minutes ago
- Yahoo
KION GROUP AG (KIGRY) Q2 2025 Earnings Call Highlights: Record Order Intake Amid Revenue Decline
Order Intake: EUR3.5 billion, a 33% increase year-on-year. Revenue: Declined 6% year-over-year to slightly over EUR2 billion. Adjusted EBIT: EUR189 million with a margin of 7%. Free Cash Flow: Positive at EUR132 million. Earnings Per Share: EUR0.72, a 38% increase year-on-year. ITS Segment Order Intake: 70,000 units, a 9% year-over-year increase. New Truck Business Revenue: Declined 13% year-over-year. Service Business Growth: 3% year-on-year increase. SCS Segment Order Intake: Record level of more than EUR1.4 billion. SCS Adjusted EBIT: EUR42 million with a margin of 6%. Net Financial Debt: Slight increase, remaining below EUR1 billion. Tax Rate: Updated full year 2025 tax indication to between 25% and 30%. Warning! GuruFocus has detected 11 Warning Signs with KIGRY. Release Date: July 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points KION GROUP AG (KIGRY) reported a 33% increase in group order intake, reaching EUR3.5 billion, marking a record quarter for order intake and supply chain solutions. Earnings per share increased by 38% year-on-year to EUR0.72. Free cash flow remained positive at EUR132 million, driven by improvements in net working capital. The Supply Chain Solutions (SCS) segment achieved a record order intake of over EUR1.4 billion, with significant contributions from business solutions. The company confirmed its outlook for fiscal year 2025, indicating confidence in its strategic direction and market positioning. Negative Points Revenue declined by 6% year-over-year to slightly over EUR2 billion, with a 13% decline in the new truck business. Adjusted EBIT margin was impacted by lower volumes and reduced fixed cost absorption, particularly in the Industrial Trucks & Services (ITS) segment. The geopolitical uncertainties and ongoing trade conflicts pose risks to the company's supply chains and market conditions. Standard and Poor's downgraded KION GROUP AG (KIGRY) to BB+ with a stable outlook, potentially affecting financing costs. The economic environment remains uncertain, with potential disruptions from trade barriers and restrictions on access to critical commodities. Q & A Highlights Q: Can you provide insights on the order pipeline after a strong Q2, and what are the prospects for second-half orders? A: Richard Smith, CEO: Orders often shift between quarters in Supply Chain Solutions (SCS), so it's important to look at trends over several quarters. Q2 was strong due to multiple large orders, but we don't expect this level in upcoming quarters. However, we anticipate the second half of the year to be better than last year. Our pipeline remains strong, with good visibility into projects. Q: How is pricing in the SCS segment, and does it align with your 10% margin objective for 2027? A: Richard Smith, CEO: Pricing is consistent with our 10% margin profitability plans. We've built protections into our contracts, including tariff fluctuations, to ensure we meet our margin objectives. Q: Can you explain the slight miss in sales this quarter relative to expectations, and what was the momentum in June and July? A: Christian Harm, CFO: The difference was mainly due to corporate services consolidation, not market development. The momentum in June and July was consistent with our expectations, and we don't see any significant changes in market dynamics. Q: Do you expect the book-to-bill ratio for SCS to be above 1 in the next quarters, and how confident are you in reaching a 10% margin for SCS? A: Christian Harm, CFO: We might not consistently see a book-to-bill ratio above 1 due to order lumpiness. To reach a 10% margin, we need to improve project execution, eliminate legacy projects, grow the service business, and leverage operating efficiencies. Q: How are discussions with non-e-commerce customers, and do you expect e-commerce activity to remain high in the coming quarters? A: Richard Smith, CEO: It wasn't just one large project in Q2; we had multiple sizable projects. E-commerce continues to be a leading indicator, and we expect other verticals to start projects as well. E-commerce will remain a significant part of our order intake. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 minutes ago
- Yahoo
SeABank and AFS Clarified Matters Related to The Charter Capital Transfer Agreement of Post and Telecommunication Finance Company Limited (PTF)
HA NOI, VIETNAM / / July 31, 2025 / Regarding the Charter Capital Transfer Agreement of Post and Telecommunication Finance Company Limited ("PTF") and the public announcement issued by AEON Financial Service Co., Ltd. ("AFS"), Southeast Asia Commercial Joint Stock Bank ("SeABank") and AFS have been engaged in constructive discussions to comprehensively clarify the issues raised by AFS in a spirit of goodwill and cooperation. SeABank and AFS foster relationship with a cooperative agreement As a result, AFS has confirmed that SeABank had no knowledge of, nor any involvement in, any potential discrepancies in provision at PTF before the closing of the transaction. Furthermore, AFS has formally withdrawn its preliminary notice relating to the transaction and reaffirmed its intention to manage and develop PTF sustainably. To foster the relationship, SeABank and AFS has signed a cooperative agreement to develop retail products and services, for the needs of both parties' customers in Vietnam. For media inquiries, please contact: Mr. Tran Huy HungDeputy Director, Communications and Marketing Division SeABank - Southeast Asia Commercial Joint Stock Bank 198 Tran Quang Khai Street, Hoan Kiem Ward, Hanoi, Vietnam Tel: (024) 3944 8688, ext. 7803 | Fax: (024) 3944 9026 Email: | Website: Contact:Mr. Tran Huy HungEmail: SOURCE: SeABank View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
9 minutes ago
- Yahoo
200 Mitie workers set to begin strike action at Sellafield over pay
AROUND 200 workers in 'frontline' roles on the Sellafield site are set to begin strike action on Friday following a disagreement with their employer Mitie over pay. GMB union members working for Mitie overwhelmingly rejected the 3.5 per cent deal offered by the company- voting to strike in anger at what the union have called a 'derisory' pay offer. The around 200 frontline workers are responsible for cleaning, security, landscaping, waste management, postal services, and laundry support the safety and functionality of one of Europe's most hazardous nuclear facilities, say the union. The union have said that the pay offer would leave many workers earning little more than £13 an hour. Fran Robson, GMB Regional Organiser, added: "Without these workers, Sellafield cannot operate safely or securely. "If Mitie refuses to return to the negotiation table with a meaningful offer, strike action will go ahead, risking significant disruption to this critical nuclear site. "We call on Mitie to provide a pay rise that genuinely recognises the essential contribution of these workers." Mitie have said that they are 'committed' to reaching a resolution and are carrying out 'continuous talks' with both Sellafield and the GMB union. However, the company say they are also putting 'strong contingencies' in place to avoid any disruptions that the strike may cause at the Sellafield site A Mitie spokesperson said: 'We are in continuous talks with both Sellafield and GMB and are committed to reaching a resolution. 'As always, our priority is to ensure continued service delivery and in the unfortunate case of a strike going ahead, we will put strong contingencies in place to avoid disruption to the site. "We are proud of the hard work and dedication of all our colleagues up and down the UK, including those at Sellafield.' READ MORE: Cumbrian mum received incurable brain tumour diagnosis on her birthday | News and Star Sellafield are not directly involved in the dispute and have warned site employees of potential delays and congestion on the roads approaching the Sellafield site gates during the strike period. A spokesman said: "As always, the safety and security of the site, our workforce, and the local community is our priority."
