1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. Epiroc AB (publ)
  6. News
  7. Summary
    EPI A   SE0015658109

EPIROC AB (PUBL)

(EPI A)
  Report
Real-time Estimate Cboe Europe  -  09:53 2022-08-08 am EDT
177.13 SEK   +1.45%
08/02Swedish Mining Equipment Maker Epiroc Closes Purchase of RNP México
MT
08/02Epiroc completes acquisition of manufacturer of rock drills
AQ
08/02EPIROC AB (OM : EPI A) Completed the acquisition of RNP México.
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Epiroc : Mining gear maker Epiroc sees pandemic hit to near-term demand

07/23/2020 | 02:23am EDT

* Q2 like-for-like order intake -17% to SEK 8.1 bln

* Reported operating profit matches forecast

* Says pandemic to hit demand in near term

STOCKHOLM, July 23 (Reuters) - Swedish mining gear maker Epiroc said on Thursday it expected the coronavirus pandemic to weigh on demand in the near term as it reported a quarterly earnings decline in line with market expectations and a steep fall in order intake.

The company, one of the world's top suppliers of underground mining equipment such as drill rigs, said second-quarter order intake fell 17% like-for-like as clients put the brakes on spending and pandemic restrictions hit mining activity.

"Our customers were hesitant to place equipment orders and restrictions led to lower customer activity, particularly in the beginning of the quarter, which impacted our aftermarket business negatively," CEO Helena Hedblom said in a statement.

Rival Sandvik last week reported a quarterly underlying order drop of 10% in its Mining and Rock Technology unit with demand hit by pandemic-related mine closures.

Operating earnings at Epiroc fell to 1.42 billion Swedish crowns ($160 million) from 2.26 billion crowns in the year-earlier quarter, matching analysts' mean forecast, according to data from Refinitiv.

The operating profit included items affecting comparability totalling 165 million crowns, the company said.

"All in, we see the results as "ok" but probably no better and that is likely not enough to support the shares this morning after a strong run," analysts at JPMorgan said in a research note.

Epiroc shares, which had risen around 10% this month, were down 4.5% in early trading in Stockholm.

($1=8.8624 Swedish crowns) (Reporting by Johannes Hellstrom; Editing by Niklas Pollard and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EPIROC AB (PUBL) 1.83% 177.8 Delayed Quote.-23.82%
SANDVIK AB 3.54% 182.85 Delayed Quote.-30.13%
All news about EPIROC AB (PUBL)
08/02Swedish Mining Equipment Maker Epiroc Closes Purchase of RNP México
MT
08/02Epiroc completes acquisition of manufacturer of rock drills
AQ
08/02EPIROC AB (OM : EPI A) Completed the acquisition of RNP México.
CI
07/28Jess Kindler, division President, to leave Epiroc
AQ
07/28Jess Kindler, Division President, to Leave Epiroc
CI
07/20TRANSCRIPT : Epiroc AB, Q2 2022 Earnings Call, Jul 20, 2022
CI
07/20Swedish Mining Equipment Maker Epiroc's H1 Profit Jumps 22% Amid Sustained High Demand
MT
07/20EPIROC : Presentation Kv2 2022
PU
07/20Epiroc interim report Q2 2022
AQ
07/20Epiroc AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30,..
CI
More news
Analyst Recommendations on EPIROC AB (PUBL)
More recommendations
Financials
Sales 2022 48 109 M 4 702 M 4 702 M
Net income 2022 8 199 M 801 M 801 M
Net cash 2022 4 202 M 411 M 411 M
P/E ratio 2022 25,7x
Yield 2022 1,94%
Capitalization 203 B 19 878 M 19 878 M
EV / Sales 2022 4,14x
EV / Sales 2023 3,75x
Nbr of Employees 15 912
Free-Float 80,8%
Chart EPIROC AB (PUBL)
Duration : Period :
Epiroc AB (publ) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EPIROC AB (PUBL)
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Last Close Price 174,60 SEK
Average target price 181,50 SEK
Spread / Average Target 3,95%
EPS Revisions
Managers and Directors
Helena Hedblom President, Chief Executive Officer & Director
Håkan Victor Folin Chief Financial Officer, SVP-Finance & Controlling
Ronnie Leten Chairman
Jonas Albertson Chief Technology Officer
Ylva Lindquist Vice President-Compliance
Sector and Competitors
1st jan.Capi. (M$)
EPIROC AB (PUBL)-23.82%19 878
PACCAR, INC.3.25%31 688
DAIMLER TRUCK HOLDING AG-14.59%23 052
KOMATSU LTD.5.10%19 766
KUBOTA CORPORATION-17.25%18 585
TOYOTA INDUSTRIES CORPORATION-14.25%18 070