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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Epiroc AB    EPI A   SE0011166933

EPIROC AB

(EPI A)
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Real-time Quote. Real-time CHI-X - 08/23 11:29:53 am
99.04 SEK   -1.35%
03:31aEPIROC : to expand production facility in Örebro, Sweden
AQ
07/18EPIROC : expects demand to stay robust after second quarter profit beat
RE
07/18EPIROC : interim report Q2
AQ
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Epiroc : expects demand to stay robust after second quarter profit beat

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07/18/2019 | 06:46am EDT

STOCKHOLM (Reuters) - Swedish mining equipment maker Epiroc reported quarterly operating earnings above market expectations on Thursday, helped by earlier cost-cutting, and said it expected demand in the near term would remain at current strong levels.

Epiroc, a rival of Sweden's Sandvik, said its operating profit rose to 2.26 billion Swedish crowns (£193.61 million) in the second quarter from 1.81 billion a year earlier, beating the 2.15 billion crown mean analysts' forecast according to data from Refinitiv.

"Going forward, we do not see any clear signs that the current market situation will change," Epiroc CEO Per Lindberg said in statement.

"Hence, we reiterate our view that the demand will remain at the current level in the near term, however noting that Q3 in general is slightly weaker than Q2."

Epiroc shares turned positive following the results release, trading 3.0% higher by 1029 GMT.

The company, which makes equipment such as drill rigs, loaders and haulers, said mining clients were continuing to invest in new equipment, but noted lingering caution about committing to larger investments.

Epiroc said quarterly order intake fell 4% on a like-for-like basis, with a year-on-year decline for equipment but robust growth in its service business.

(Reporting by Johannes Hellstrom; editing by Niklas Pollard)

Stocks mentioned in the article
ChangeLast1st jan.
EPIROC AB -1.22% 99.18 Delayed Quote.19.75%
SANDVIK AB -1.98% 136 Delayed Quote.9.81%
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Latest news on EPIROC AB
03:31aEPIROC : to expand production facility in Örebro, Sweden
AQ
07/18EPIROC : expects demand to stay robust after second quarter profit beat
RE
07/18EPIROC : interim report Q2
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More news
Financials (SEK)
Sales 2019 41 810 M
EBIT 2019 8 814 M
Net income 2019 6 463 M
Finance 2019 321 M
Yield 2019 2,61%
P/E ratio 2019 18,5x
P/E ratio 2020 17,2x
EV / Sales2019 2,80x
EV / Sales2020 2,61x
Capitalization 117 B
Chart EPIROC AB
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Technical analysis trends EPIROC AB
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 105,00  SEK
Last Close Price 99,18  SEK
Spread / Highest target 20,0%
Spread / Average Target 5,87%
Spread / Lowest Target -23,4%
EPS Revisions
Managers
NameTitle
Per Lindberg President, Chief Executive Officer & Director
Ronnie Leten Chairman
Anders Lindén Chief Financial Officer, SVP-Controlling & Finance
Anders Gerhard Ullberg Independent Director
Johan Patrik Lennart Forssell Independent Director
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