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    EPI A   SE0015658109

EPIROC AB (PUBL)

(EPI A)
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Epiroc completes acquisition of specialist in mining vehicle battery conversions

11/03/2021 | 02:31am EST

Stockholm, Sweden: Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, has completed the acquisition of the business and assets of FVT Research Inc., a Canadian company with expertise in converting diesel-powered mining machines to battery-electric vehicles.

FVT Research, based in Vancouver, Canada, designs diesel-to-battery conversion kits and rebuilds mining machines to electric versions. The company has also recently been part of a successful project to convert the diesel-powered Epiroc Scooptram ST1030 loader to battery electric. FVT Research has about 25 employees and had revenues in 2020 of MCAD 4 (MSEK 27).

Epiroc announced on September 13, 2021, that it had agreed to acquire FVT Research.

The transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation. To learn more about FVT Research, please see www.fvtresearch.com.


A previously diesel-powered Epiroc Scooptram ST1030 loader converted by FVT Research into battery electric

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

Epiroc is a vital part of a sustainable society and a global productivity partner for mining and infrastructure customers. 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 SEK 36 billion in 2020, and has about 15 000 passionate employees supporting and collaborating with customers in about 150 countries. Learn more at www.epirocgroup.com.

https://news.cision.com/epiroc/r/epiroc-completes-acquisition-of-specialist-in-mining-vehicle-battery-conversions,c3445870

https://mb.cision.com/Main/16899/3445870/1490517.pdf

https://news.cision.com/epiroc/i/epiroc-scooptram-st1030,c2975348

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 39 557 M 4 395 M 4 395 M
Net income 2021 6 919 M 769 M 769 M
Net cash 2021 3 459 M 384 M 384 M
P/E ratio 2021 37,2x
Yield 2021 1,38%
Capitalization 244 B 27 111 M 27 121 M
EV / Sales 2021 6,08x
EV / Sales 2022 5,16x
Nbr of Employees 15 198
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Number of Analysts 21
Last Close Price 213,60 SEK
Average target price 218,86 SEK
Spread / Average Target 2,46%
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Managers and Directors
Helena Hedblom President, Chief Executive Officer & Director
Hňkan Victor Folin Chief Financial Officer, SVP-Finance & Controlling
Ronnie Leten Chairman
Ylva Lindquist Vice President-Compliance
Anders Gerhard Ullberg Independent Director
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