Group 1 - The survey indicates that UK employers are cautious about hiring intentions for the next three months due to recent tax increases and global economic uncertainty [1] - The CIPD reported a decline in the employment market expectation index from +13 to +8, reaching a historical low outside of the pandemic period [1] - Large private enterprises showed particularly poor performance this quarter, contributing to the overall decline in the index [1] Group 2 - KPMG's CEO noted that despite a slight recovery in recruitment activities, it does not indicate a market turnaround due to ongoing pressures such as rising costs and global economic uncertainty [2] - The Bank of England expressed concerns about the cooling labor market and the potential for strong wage growth to lead to sustained inflationary pressures [2]

Financial Data and Key Metrics Changes - In Q1 2025, lift truck revenues declined by 14% year over year, primarily due to lower sales volumes in The Americas and EMEA [18] - Adjusted operating profit for the lift truck segment declined significantly compared to the prior year, primarily due to lower volumes and loss of manufacturing absorption [19] - Q1 2025 income tax expense was $8 million, significantly below the prior year's $25 million due to lower pre-tax earnings [24] - Leverage, as measured by net debt to EBITDA, was 1.6 times at the end of Q1 [25] Business Line Data and Key Metrics Changes - In The Americas, the downturn was driven by reduced sales of higher value Class IV and V internal combustion engine trucks [18] - JPIC revenues increased year over year due to increased volumes and a favorable product mix shift toward big trucks [18] - Bolzoni's revenues declined primarily due to the planned phase-out of lower margin legacy products, but gross profit margins improved due to better pricing and lower material costs [21][22] Market Data and Key Metrics Changes - The lift truck booking market showed encouraging signs of recovery in The Americas and particularly in EMEA, with bookings of $590 million reflecting year-over-year growth and a nearly 50% sequential increase [11][29] - The company's backlog remains solid at $1.9 billion, with production rates expected to increase in Q2 [12][30] Company Strategy and Development Direction - The company is focusing on producing and selling products in the same region to avoid excess shipping costs and enhance delivery time [7] - A strategic business realignment related to Nuvera aims to enhance near-term profitability and create an integrated energy solutions program [12] - The company is committed to driving profitable growth through innovation and operating efficiency, with a focus on modular product development and manufacturing optimization [9][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged significant uncertainty created by shifting tariff levels and their effects on market demand and cost structures [6] - The company remains cautiously optimistic about its 2025 outlook, despite anticipating that operating profit will be below 2024's exceptionally strong results [17][32] - Management emphasized the importance of financial discipline and proactive liquidity management in navigating current market challenges [25][36] Other Important Information - The company expects to incur $15 million to $18 million in severance and impairment costs during Q2 due to the business realignment [15] - The company anticipates cash flows from operations to be only moderately below 2024 levels, despite projected net income decline [36] Q&A Session Summary Question: What are the key concerns regarding tariffs and restructuring? - Management highlighted that tariffs remain a significant concern and the restructuring of the Billerica facility around energy solutions is crucial in the current market environment [39]

欧洲央行管委卡扎克斯：利率路径取决于通胀。全球经济存在很多不确定性。 ...

智通财经4月29日电，欧洲央行管委卡扎克斯表示，利率路径取决于通胀，全球经济存在很多不确定 性。 ...

澳大利亚财长Jim Chalmers警告："美国政策对全球经济的'地震级'影响仍需警惕。"尽管如此，市场对关税落地的最终影响仍持谨慎态度。 特朗普上台后地缘政治秩序的颠覆性变化，叠加全球经济不确定性，推动投资者涌向黄金。中东及乌克兰等地缘冲突风险也为金价提供支撑。 路孚特分析称："地缘动荡与经济不确定性是金价突破3000美元的关键推手。" 全球央行持续增持黄金储备，叠加对美联储降息的预期，进一步提振金价。美元指数上周上涨0.8%后，周一回落0.1%，为金价企稳提供窗口。 白银(33.69. 0.21. 0.62%)、铂金和钯金均录得涨幅，显示避险情绪扩散。金价接近历史高位，反映市场对风险资产的谨慎态度未变。 技术与展望 金价接近历史高位，地缘政治风险或助其继续攀升 金价在亚盘时段保持平稳，目前在3024美元/盎司附近震荡，接近上周四的历史高点。此前两日下跌后，金价企稳，反映市场对经济与地缘风险的 避险需求未减。上周，金价累计上涨1.3%，年内涨幅达15%。 特朗普政府计划推出的对等关税政策力度可能低于预期。白宫内部人士透露，部分国家或被排除在关税名单外，且暂无针对特定行业的贸易壁垒 计划。这一消息缓解了市场对 ...