Epiroc publishes Annual and Sustainability Report for 2024

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 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 to improve profitability were taken. 
• 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 within automation, digitalization and electrification, Epiroc 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 operating model, as well as the company's focus areas within sustainability. The report shows how Epiroc's value-creating strategy is also its investment case, which focuses around 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.

For more information please contact:
Karin Larsson, VP Investor Relations and Media
+46 10 755 0106
ir@epiroc.com
Ola Kinnander, Media Relations Manager
+46 70 347 2455
media@epiroc.com

This information is information that Epiroc AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 11.45 CET on March 20, 2025.

Epiroc is a global productivity partner for mining and construction customers, and accelerates the transformation toward a sustainable society. With ground-breaking technology, Epiroc develops and provides innovative and safe equipment, such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. The company also offers world-class service and other aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden, had revenues of around SEK 64 billion in 2024, and has almost 19 000 passionate employees supporting and collaborating with customers in around 150 countries. Learn more at www.epirocgroup.com.