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Epiroc Publishes its Interim Report for Q1 2022
President and CEO, Helena Hedblom, says the year 2022 has started off strongly
By: Diamond World News Service
Apr 25 2022 5:08PM
Reference: 26300  

Helena Hedblom, President and CEO, Epiroc
Helena Hedblom, President and CEO, Epiroc

The year 2022 started off strongly for Epiroc. The demand remained at a high level and orders received increased 29% to a record-high BSEK 13.8. This corresponds to 18% organic growth compared to the previous year. President and CEO, Helena Hedblom said, “It is encouraging to see the high demand for our equipment, for our solutions within automation, digitalization, electrification, as well as for our aftermarket offering. Several large and medium-sized orders were won, of which many included battery-electric vehicles and automation features. The order intake for services was also strong.”

Increased Revenues and Operating Profit, Ukraine and Covid

Revenues increased 14% organically to MSEK 11 088. Hedblom informed, “Our reported operating profit increased 41% and reached a new record of MSEK 2 631. The adjusted operating margin increased to 23.3% (23.0). It was supported by organic revenue growth, but diluted by acquisitions. Our operating cash flow decreased to MSEK 867 (1 610), impacted by a build-up of working capital due to strong growth and constraints in the supply chain.”

Innovations, Acquisitions, and Partnerships

The company introduced Mobius for Drills, a platform that will lead mines towards automation and connectivity. It enables multi-vehicle command, control and monitoring. The company also introduced a more efficient and powerful blasthole drill rig. Both innovations aim to increase safety and productivity for our customers.

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