The mining, quarrying and construction equipment manufacturer adds that its revenues increased and operating profit and margin were at a record high for the year, despite challenges with the Covid-19 pandemic and in the supply chain.
The findings feature in Epiroc's newly-published Annual and Sustainability Report for 2021, which sates that the company has created value for shareholders, customers, and society.
Despite the pandemic restrictions, Epiroc says it was able to keep operations up and running and its strong local presence around the world, particularly in service, made it possible to stay close to and support customers which strengthened these relationships further.
New service offerings experienced strong growth in 2021 including mid-life services, remanufacturing of components, Batteries as a Service, electrical infrastructure and subscription fees.
Epiroc says it further strengthened its market-leading position in automation with customers being increasingly willing to invest in automation, including autonomous and remote-controlled fleets. It adds that the automation solutions benefit customers by strengthening productivity, improving safety, lowering emissions and reducing total cost of ownership.
In the sustainability area, Epiroc's goals to halve absolute CO2e emissions in its own operations and from the use of sold products by 2030 were validated in November by the Science Based Targets initiative.
Eight acquisitions were completed during the year, adding about 3% to annual revenues. Epiroc says the acquired companies broaden its offering of solutions for automation, digitalisation and electrification, as well as extending its aftermarket offering.