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Volvo Cars reports Q3 2024 core operating profit of SEK 5.7 billion

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Q3 operating profit (excl. JVs and associates) was SEK 5.7 bn, vs SEK 6.1 bn in Q3 2023Q3 operating profit was 5.8 bn SEK, vs SEK 4.5 bn in Q3 2023Q3 EBIT margin (excl. JVs and associates) was 6.2 per cent, vs 6.7 per cent in Q3 2023Q3 EBIT margin was 6.2 per cent, vs 4.8 per cent in Q3 2023Q3 revenue was 93 bn SEK, vs 92 bn SEK in Q3 2023Q3 electrified share of sales at 48 per cent, vs 34 per cent in Q3 2023Q3 fully electric car sales share at 25 per cent, vs 13 per cent in Q3 2023

GOTHENBURG, Sweden, Oct. 23, 2024 /PRNewswire/ — Volvo Cars today reports a core operating profit (EBIT), excluding joint ventures and associates, of SEK 5.7 billion for the third quarter of 2024, versus SEK 6.1 bn for the same period in 2023.

Gross margins came in at 20.5 per cent for the third quarter, broadly in line with the company’s underlying operational gross margins for the first half of 2024. Revenues for the period amounted to SEK 93 billion and the core EBIT margin landed at 6.2 per cent. Free cash flow was around flat at SEK -0.4 billion.

As stated during its Capital Markets Day in September, Volvo Cars aims to outgrow the premium car market* and generate a core EBIT margin of 7-8 per cent as well as strong free cash flows from 2026 onwards. The company is determined to reach its ambitions and has a clear roadmap towards doing so.

However, achieving these ambitions will not be straightforward since the weakness in the market has recently accelerated – a fact also echoed in revised industry forecasts for 2024 and 2025 by third-party analysts. Overall industry demand continues to soften and is now affecting the premium segment.

“Our journey towards 2026 will not be linear, as our industry is facing an increasingly volatile environment,” says Jim Rowan, chief executive for Volvo Cars. “Macroeconomic headwinds are intensifying, as is geopolitical complexity. Despite these challenges we demonstrated resilience during the third quarter of 2024, which is reflected in our overall financial performance.”

Volvo Cars has grown faster than its premium peers this year. The company’s third-quarter sales rose by 3 per cent to 172,849 cars sold, with electrified models (fully electric and plug-in hybrid cars) representing 48 per cent of the total.

Volvo Cars’ electrified share was the highest for the premium car industry in Europe. For the first nine months, Volvo Cars sales increased by 10 per cent year-on-year. This gives the company a foundation to outgrow the premium car market in 2024, which is expected to grow by less than 1 per cent this year. 

In Europe, Volvo Cars increased its market share to 2.4 per cent during the quarter, from 1.7 per cent in the same period last year, in an increasingly competitive market while retaining its premium pricing position. Although the market is softening, the company is encouraged by the strong performance of its balanced portfolio of fully electric (BEV) cars, plug-in (PHEVs) and mild hybrids. The EX30 remained among the best-selling EVs in Europe and the XC60 continues to be one of the most popular PHEVs in the region.

However, the car market in the company’s main regions of Europe, China and the US is increasingly under pressure which affects demand. Given this accelerating weakness in the market and Volvo Cars’ focus on safeguarding value over volume, the company expects minimal volume growth during the fourth quarter. As a result, it now anticipates full-year sales growth of 7-8 per cent, instead of its earlier forecast of 12-15 per cent. 

Volvo Cars retained its premium position in China by focusing on price discipline, resulting in lower sales volumes. In the US, the performance of its electrified range remained solid, but here too the overall market has weakened. Lower interest rates may improve the situation over time in these markets and Volvo Cars continues to monitor developments and adapt accordingly.

Volvo Cars has actively adapted its sales and production plan to reduce inventory during the second half of the year. This is materialising according to plan, and the company remains focused on diligent inventory management. At the same time, it is also in the process of moving cars off its balance sheet in some European markets as part of its adjusted commercial approach.

The company is determined to safeguard value and cash, while working resolutely towards its 2026 ambitions. However, the revised full-year sales guidance of 7-8 per cent also affects Volvo Cars’ expectations for free cash flow for this year. While it continues to drive its free cash flows towards neutral for 2025 and strong from 2026, Volvo Cars now anticipates its full-year free cash flow to be single digit-negative in SEK bn for 2024, rather than neutral, due to the overall weakness in the market and resulting in lower sales expectations in the fourth quarter.

As the company reiterated during its Capital Markets Day, it is investing in new technologies, infrastructure and cars to ensure that it becomes a leader in next-generation mobility. Volvo Cars expects these planned investments to peak during the 2024-25 period. After this phase it plans to start generating strong free cash flows from 2026 onwards.

Looking ahead

Volvo Cars has five fully electric cars on the road, and five more in development. As previously communicated, it plans to start building the EX30 in its Ghent plant during the first half of 2025, with volumes ramping up in the second half.

The company also continues to invest in its hybrid cars, exemplified by the updated, ready-for-a-new-era version of the iconic XC90 plug-in hybrid SUV. By refreshing these and other hybrid models, Volvo Cars maintains a balanced product portfolio for the current marketplace. All this will allow it to outgrow the premium car market and take market share.

Volvo Cars is confident that this strong and balanced product portfolio will remain attractive going forward. Coupled with its premium brand positioning, this will help it to partly mitigate the effects of a weakening market. 

The company expects the car industry to remain under pressure. Hence it is doubling down on actions to tackle these external challenges, to build an even more resilient company and further reinforce operational efficiencies.

The company’s internal cost efficiency initiative has already resulted in lower variable costs and remains a crucial focus area, and actions in this area will be accelerated. Improving cost efficiency is an ongoing exercise and a core part of how the company operates. Volvo Cars is looking at both investments as well as fixed and variable costs to lower its cost structure and free up cash.

“We cannot control the current geopolitical uncertainties and economic headwinds,” says Jim Rowan. “But we can navigate them with speed, purpose, and a clear focus. Our focus is more than ever on preserving cash while creating value – for our shareholders, customers and employees. We have proven before that we can handle challenges, and we will handle them again. Business is not a game of perfection, it is a game of progress. And despite current challenges, Volvo Cars is making progress. This is shown in our results, our technology, our talent, and ultimately our cars.”

* Volvo Cars’ ambition to outgrow the market entails outgrowing the premium car market from 2023 to 2026 on a CAGR basis.

Note to editors

CEO Jim Rowan and CFO Johan Ekdahl will host a livestream on Volvo Cars’ Q3 2024 results for media, investors and analysts at 08:00 CEST today. The presentations will be held in English and followed by a Q&A session.

Link for livestream: https://live.volvocars.com

China-only link for livestream: https://live.volvocars.com.cn

It will be possible to ask questions during the Q&A session following the main presentation. To participate, you can either use the chat function online to type your question or you can call in. To call in, participants need to register via the link below and will then receive the dial-in details and individual PIN.

Link to register

This disclosure contains information that Volvo Car AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 23-10-2024 07:00 CET.

For further information please contact:

Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com

Volvo Cars Investor Relations
John Hernander
+46 31-793 94 00
investors@volvocars.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/volvo-car-ab–publ-/r/volvo-cars-reports-q3-2024-core-operating-profit-of-sek-5-7-billion,c4054839

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Driving Certainty Through Uncertainty: eclicktech’s Engineering Approach to Agentic AI

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XI’AN, China, May 9, 2026 /PRNewswire/ — As generative AI moves from experimentation to enterprise deployment, the industry focus is shifting from model capability to operational reliability. The challenge is no longer simply building smarter AI, but ensuring AI systems can operate safely and consistently inside complex production environments.

eclicktech recently shared its internal engineering practices around Agentic AI, highlighting how the company is applying context engineering, multi-cloud infrastructure, and layered security frameworks to support enterprise-scale AI deployment.

To support global operations across more than 230 countries and regions, eclicktech built its Cycor platform around a multi-cloud architecture integrating AWS, Google Cloud, Alibaba Cloud, Tencent Cloud, Huawei Cloud, and other providers. According to the company, this approach improves infrastructure flexibility, reduces vendor lock-in risk, and enables more efficient orchestration of large-scale Kubernetes clusters and AI workloads.

eclicktech stated that one of the key lessons from early Agent development was that prompt engineering alone was insufficient for enterprise deployment. The company therefore shifted toward context engineering — an approach focused on delivering the right information, at the right time, while optimizing limited token resources.

Its engineering framework includes six layers of context management covering active sessions, short-term memory, long-term semantic storage, knowledge graphs, operational experience, and reusable organizational skills. The system also supports proactive context injection, allowing relevant operational history and risk information to be surfaced automatically before sensitive actions are executed.

To improve inference efficiency, eclicktech introduced layered token governance and progressive tool-loading mechanisms, dynamically loading tools and information only when required. The company said this approach helped improve tool selection accuracy and reduce unnecessary token consumption during complex operational workflows.

Security remains a core requirement throughout the architecture. eclicktech’s governance framework includes namespace isolation, dry-run verification, human approval workflows, rule-based validation, and rollback mechanisms designed to reduce operational risks associated with AI-driven automation.

According to eclicktech, the next stage of enterprise AI competition will depend not only on model capability, but also on engineering reliability, infrastructure orchestration, context management, and organizational knowledge systems.

Note: Certain technical information referenced in this article is derived from eclicktech’s internal engineering practices and is provided for industry reference purposes only.

View original content:https://www.prnewswire.com/apac/news-releases/driving-certainty-through-uncertainty-eclicktechs-engineering-approach-to-agentic-ai-302767441.html

SOURCE eclicktech

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How a Unified Monetization Solution Is Driving eCPM and Revenue Growth for Casual Games Worldwide

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SINGAPORE, May 8, 2026 /PRNewswire/ — Casual, hyper-casual, and hybrid-casual games have become dominant categories in the global mobile market, making in-app advertising (IAA) a key driver of monetization success. However, many developers continue to face major challenges, including unstable fill rates, fluctuating eCPMs, difficulties balancing multiple regional markets, and the ongoing tradeoff between user experience and revenue growth.

To address these issues, zMaticoo has compiled a series of monetization case studies from leading game publishers and studios across China, Vietnam, Europe, and North America. These teams span hyper-casual, puzzle, board, card, and light-casual game categories, with DAUs ranging from millions to tens of millions. By adopting the same monetization framework, they achieved simultaneous growth in fill rate, eCPM, and ad revenue while maintaining stable user experience.

A common challenge among these teams was the shrinking monetization margin across global markets, creating an urgent need for sustainable revenue growth. At the same time, developers were cautious about over-monetization negatively impacting retention and player engagement.

To solve these challenges, zMaticoo introduced an AI-driven monetization system with full-funnel optimization capabilities. The platform connects developers directly to premium global advertiser budgets across both performance and brand advertising. AI models identify high-value traffic in real time based on region, audience, and usage scenarios, prioritizing high-eCPM demand sources. Separate bidding strategies are applied for mature and emerging markets to avoid revenue loss caused by one-size-fits-all pricing models.

The platform also provides refined ad format optimization:

Banner Ads: optimized display share and loading timing to improve SOV and stabilize eCPM;Interstitial Ads: precisely triggered during high-value moments such as level completion or pause screens, with especially strong premiums in emerging markets;Rewarded Video: deeply integrated into gameplay loops, delivering high user acceptance and conversion performance.

On the technical side, zMaticoo optimized SDK infrastructure to improve fill stability under weak network conditions. Ad loading time was reduced from five seconds to under two seconds through a rebuilt loading architecture. Progressive asset loading further minimized timeout-related drop-offs. AI-powered ad templates dynamically generated personalized creatives, improving both CTR and conversion performance.

The zMaticoo team also provides one-stop operational and analytics support. Developers can monitor fill rate, impressions, eCPM, and revenue through a unified dashboard, while dedicated optimization specialists provide 7×12 support for A/B testing, strategy iteration, and scaling guidance. The platform is deeply integrated with major mediation solutions, enabling one-time integration and multi-scenario deployment while reducing development and maintenance costs.

According to zMaticoo platform data:

In mature markets including the United States, Germany, Japan, and South Korea, banner eCPMs increased by 5%–10%, while interstitial premiums improved by over 5%;In emerging markets such as Brazil, Mexico, and Southeast Asia, interstitial eCPMs increased by more than 10%.

The monetization framework has demonstrated effectiveness across hyper-casual, puzzle, board/card, and utility app categories, supporting both rapid scale-up and long-term monetization stability.

Partner feedback includes:

“We are highly satisfied with the revenue uplift after integration. Our core products’ banner performance now ranks among the top tier.””Revenue recovered significantly after A/B testing, and we are expanding testing across more products.””One solution now supports multiple global markets without requiring separate monetization strategies for each region.””Interstitial monetization performance has been especially strong, with SOV reaching 10%–20% for several partners.”

zMaticoo believes successful monetization today is not about stacking more ad platforms, but about leveraging AI, technology, and refined operations to unlock long-term traffic value. Whether for hyper-casual publishers, puzzle game studios, or global mobile app companies, this AI-powered monetization framework is designed to deliver sustainable revenue growth while preserving user experience.

View original content:https://www.prnewswire.com/news-releases/how-a-unified-monetization-solution-is-driving-ecpm-and-revenue-growth-for-casual-games-worldwide-302767432.html

SOURCE zMaticoo

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Fox ESS Celebrates Strong Momentum with Integrated Solar Storage & Charging Solutions at Smart Energy 2026

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SYDNEY, May 9, 2026 /PRNewswire/ — Fox ESS, a global leader in renewable energy solutions, attended Smart Energy 2026 during 6-7 May as a platinum sponsor. At the event, Fox ESS showcased its next-generation approach to solar storage and EV charging solution, delivering a seamless, future-ready energy experience for homeowners and installers across Australia.

Integrated Solutions Tailored for Aussie Homes

At Smart Energy 2026, Fox ESS highlighted its storage-to-charging solution, designed to make everyday energy use more convenient for local residents. With performance-led products and proven market traction, Fox ESS is set to play its part in building a more resilient energy future for Australia.

Battery Systems

Fox ESS continues to build momentum in the battery market. Sunwiz, an Australian solar consultancy, recently reported that Fox ESS ranked No.1 in March for installation capacity. And the company also revealed it has installed more than 25,000 systems in April. During the exhibition, Sunwiz presented Fox ESS with an award, recognising the company as Top Solar Company for Fastest Growing Battery.

CQ7 V6+ High Voltage Battery (42kWh and above)
Building on Fox ESS’ proven strengths, compact design and high capacity, CQ7 V6+ is well suited to medium-sized households and ensure the free use of electricity and maximize the self-consumption.EQ4800 High Voltage Battery (28kWh)
A reliable choice for smaller households, designed for efficient day-to-day energy storage.

Alongside its battery range, Fox ESS showcased all-in-one systems, including Stackable AIO and EVO, designed to simplify installation while maintaining a high standard of design and presentation.

Inverters

Fox ESS offers a range of inverters to suit local requirements, supported by up to 200% PV oversizing and a 10-year product warranty.

Single-phase: H1‑G2 (3–6kW); KH series (7–10.5kW)Three-phase: H3 Smart (5–15kW); H3 Pro (15–29.9kW); H3 Plus (50–125kW)

EV Chargers

With EV adoption accelerating, Fox ESS also offers EV charging solutions with solar linkage, designed to work across its inverter portfolio. The chargers provide robust, smart energy management, including dynamic load balancing to help protect home circuits.

A Series (7.3kW / 11kW / 22kW): IP65 and IK08 protection, OCPP-compliant.L Series (7.3kW / 11kW): straightforward installation with multiple colour options.

Big Battery Still Takes Centre Stage

As the Cheaper Home Battery Program moves into a new phase under an updated rebate policy, interest in larger battery systems continues to grow, particularly as more households consider EV upgrades amid rising fuel costs. More EVs typically mean households need greater energy availability, making higher-capacity storage an increasingly attractive option.

Looking ahead, from 1 July 2026, the Australian Government’s Solar Sharer Offer (SSO) will provide eligible households with three hours of free daily electricity to align with peak solar generation. Households with larger batteries will be well placed to make the most of this opportunity.

Fox ESS is also working with local VPP partners, including Amber Electric and Origin Loop VPP, helping homeowners unlock maximum value while supporting greater grid stability.

Maimai Comes Alive at the Exhibition

Visitors to the Fox ESS stand experienced a full programme of brand activations across the event. Following the online announcement, Sydney served as Maimai’s first physical stop, bringing the community together for face-to-face engagement. Attendees queued to take photos with the brand’s friendly and recognisable mascot.

Long-Term Commitment to Australia

Fox ESS has opened two local offices in Melbourne and Sydney, with more than 30 dedicated specialists supporting local customer needs. The company is also looking to play a wider role in Australia’s energy transition.

Notably, Ian Thorpe made his first in-person appearance at Fox Night, where he presented partners with awards. At the event party, Fox ESS also hosted a battery installation challenge, featuring eight rounds of competition, with the final winners receiving a range of prizes.

“We’re delighted to see such a strong result following the rollout of local policy. With nearly 400,000 Australian households now installing batteries, Fox ESS has played a key role, but this is only the beginning. We’re committed to keeping momentum and helping make a smarter, more reliable energy future a reality for more homes.” said Brooks Richard Geng, APAC & Middle East Managing Director, Fox ESS.

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SOURCE Fox ESS

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