Epiroc publishes annual & sustainability report

Epiroc, the Sweden-headquartered, global market manufacturer of drill rigs and hydraulic breakers for the quarrying and mining industries, has published its Annual and Sustainability Report for 2023.
Breaking, Drilling & Blasting / March 8, 2024
By Guy Woodford
Epiroc president and CEO Helena Hedblom says the company's employees share a "relentless ambition" to bring value to customers and society at large. Pic: Epiroc

The report shows how Epiroc creates value for its stakeholders by accelerating the transformation toward strengthened safety and productivity for customers. The year proved that collaboration and partnerships drive leadership.

Highlights during 2023 included:


· The mining business remained strong and several large orders were won. The demand from construction customers, however, decreased amid a weak construction market globally. Order intake increased 11% to MSEK 59 332. 


· Epiroc ended the year with record revenues and record operating profit. 


· Epiroc invested more than ever in R&D and innovation, reaffirming its leadership within the three trends that shape the industry: automation, digitalisation and electrification. 


· Solid progress was made on the 2030 sustainability goals. To further strengthen the company culture, Epiroc launched a new parental leave policy granting a minimum of 12 weeks of paid parental leave across the global organisation. 


· Several acquisitions were announced, including Epiroc’s largest ever, of STANLEY Infrastructure.


· Epiroc strengthened several exciting partnerships. For example, an exciting collaboration began with ispace to send equipment to the Moon, and the partnership deepened with steelmaker SSAB, which will supply fossil-free steel for Epiroc’s equipment. 

The front cover of Epiroc's Annual and Sustainability Report 2023. Pic: Epiroc


“Automation, digitalisation and electrification are transforming the industry, but it is people who make it happen,” Epiroc’s president and CEO Helena Hedblom writes in the report. “At Epiroc, we have around 18,000 passionate employees who share a relentless ambition to bring value to our customers and society at large, not only today but also in the future. Seeing their drive, I am certain that the best is yet to come.”


The Annual and Sustainability Report outlines Epiroc’s strengths and goals, including operating model, value creation, as well as the company’s focus areas within sustainability. The report is attached and is also available at https://www.epirocgroup.com/en/investors.

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