29 Sep 2022
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Q4 Financials Revealed by Epiroc
Epiroc, a global productivity partner for mining and infrastructure published its interim report Q4, 2021
By: Diamond World News Service
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Feb 7 2022 5:16PM
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Reference: 26151  

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Epiroc, a mining and infrastructure partner of the gems and jewellery sector, recorded 25% increase in orders, 14% increase in revenues and their operating profit increased by 17% among other notable developments. Helena Hedblom, President and CEO commented that “2021 was another exciting year with both achievements and challenges. High customer activity in combination with increased investment willingness led to record-high orders received of MSEK 45 648. Revenues increased and both operating profit and margin reached new records, despite challenges with the Covid-19 pandemic and in the supply chain. We completed eight acquisitions, launched ground-breaking innovations, and made good progress in the sustainability area.”

She further noted that that the demand remained strong and orders received increased 25% to MSEK 11 643 in the quarter. This corresponds to 19% organic growth compared to the previous year. Acquisitions contributed with 4%. The aftermarket performed strongly with an organic growth of 19% in Service and 16% in Tools & Attachments. .Equipment also grew strongly with orders received increasing 20% organically. The company’s revenues increased 9% organically to record high MSEK 11 173 and reported operating profit increased 17% to MSEK 2 594. The operating cash flow increased to MSEK 2 415 (2 156). 2021 was indeed a record year said Hedblom adding, “We have shown that we can adapt quickly to changes and that we always are ready to walk that extra mile to support our customers. I am proud to lead this fantastic company. We dare to think new, and as a team, and in collaboration with our customers and business partners, we achieve great things together. I am looking forward to further achievements in 2022.

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