Epiroc, a leading productivity and sustainability partner for the quarrying, mining and construction industries, has published its new Annual and Sustainability Report.
The report for 2024 is based on Epiroc’s investment case, showing how the company accelerates customers’ transformation toward strengthened safety, productivity, and lower emissions.
Highlights during 2024 included:
- The mining business remained strong, with demand for automation solutions being particularly strong. Demand from construction customers was weak, which affected profitability negatively.
- Revenues increased 5% to a record-high SEK 63.6 billion, supported by acquisitions and strong mining demand.
- The adjusted operating margin was 19.8% (21.7), and several actions were taken to improve profitability.
- Solid progress was made on the 2030 sustainability goals, including within safety, with the lowest total recordable injury frequency rate in several years.
- To remain the long-term technology leader in automation, digitalization, and electrification, Epiroc has invested more than ever in innovation.
- Five acquisitions were completed, further strengthening Epiroc’s position.
“2024 was a successful year for Epiroc,” Epiroc’s President and CEO Helena Hedblom writes in the report. “We aim to create value for our customers through our innovative equipment and aftermarket solutions, attract motivated employees by focusing on responsible business practices and sustainable development, and provide strong financial returns to shareholders by increased efficiency. Both our equipment and service offerings saw significant interest, with a particularly strong demand for our automation solutions, including mixed-fleet solutions. Thank you to all colleagues for your dedication to innovation and improvement, helping Epiroc stay ahead and create value for everyone.”
The Annual and Sustainability Report outlines Epiroc’s strengths and goals, including its operating model and the company’s focus areas within sustainability. The report shows how Epiroc’s value-creating strategy is also its investment case, which focuses on these areas: outperformance, attractive niches, innovation, aftermarket, and operational excellence, all built on a foundation of sustainability and a strong corporate culture.
The report is attached and is also available at https://www.epirocgroup.com/en/investors.
