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

EPIROC AB

(EPI A)
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Epiroc : Safety and productivity in focus as Epiroc wins large equipment order in Russia

10/21/2020 | 02:31am EST

Stockholm, Sweden: Epiroc, a leading productivity partner for the mining and infrastructure industries, has won a significant order from Norilsk Nickel for underground mining equipment that will strengthen safety while ensuring a highly efficient mine development.

Norilsk Nickel is one of the world's largest producers of nickel, palladium, platinum and copper and has a high focus on automation and new technologies. The mining company has ordered Epiroc's Boltec M and Cabletec M rigs for use in the Oktyabrskiy, Mayak and Komsomolskiy mines in Russia to reinforce the underground rock in the safest and most productive manner. Quality and productivity are key features - for example, several of the Boltec machines will be equipped with the new automated pumpable resin system, a key component in Epiroc's automated bolting development. The pumpable resin system when combined with self-drilling anchors is particularly effective in difficult and unstable ground conditions.

The order exceeds MSEK 100 (MUSD 11) in value and was booked in the third quarter 2020. The equipment will be delivered from the product company in Sweden in the fourth quarter 2020. 

"Norilsk Nickel has been an Epiroc customer for many years," says Helena Hedblom, Epiroc's President and CEO. "We are proud to play a key role as this forward-looking mining company now takes the next step in its commitment to safety and productivity with our latest technology."

One of the more difficult rock reinforcement tasks in underground mining and tunneling operations is how to install long-term rock bolts in poor rock conditions. As a result, rock bolting traditionally has often been the bottleneck within the drill and blast cycle. To resolve this, Epiroc in 2019 launched (https://www.epiroc.com/en-us/newsroom/2019/epiroc-launches-pumpable-resin-system-for-underground-rock-bolting) a pumpable resin system for underground rock bolting, allowing for a faster, more reliable and cost-effective bolting alternative for long-term rock reinforcement in difficult ground conditions.

For more information please contact:
Ola Kinnander, Media Relations Manager
+46 70 347 2455
media@epiroc.com

Epiroc is a leading global productivity partner for the mining and infrastructure industries. With ground-breaking technology, Epiroc develops and produces innovative, safe and sustainable drill rigs, rock excavation and construction equipment and tools. The company also provides world-class service and solutions for automation and interoperability. Epiroc is based in Stockholm, Sweden, had revenues of SEK 41 billion in 2019, and has about 14 000 passionate employees supporting and collaborating with customers in more than 150 countries. Learn more at www.epirocgroup.com.

https://news.cision.com/epiroc/r/safety-and-productivity-in-focus-as-epiroc-wins-large-equipment-order-in-russia,c3219315

https://mb.cision.com/Main/16899/3219315/1321414.pdf

https://news.cision.com/epiroc/i/epiroc-boltec-rock-reinforcement-rig-with-pumpable-resin-option,c2840372

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 35 828 M 4 174 M 4 174 M
Net income 2020 5 208 M 607 M 607 M
Net cash 2020 4 438 M 517 M 517 M
P/E ratio 2020 32,8x
Yield 2020 1,80%
Capitalization 169 B 19 781 M 19 732 M
EV / Sales 2020 4,60x
EV / Sales 2021 4,22x
Nbr of Employees 13 902
Free-Float 80,9%
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Mean consensus HOLD
Number of Analysts 21
Average target price 136,79 SEK
Last Close Price 142,50 SEK
Spread / Highest target 19,3%
Spread / Average Target -4,01%
Spread / Lowest Target -29,8%
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Managers
NameTitle
Helena Hedblom 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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