- Orders received increased 29% to MSEK 13 818 (10 690), organic increase of 18%.
- Revenues increased 26% to MSEK 11 088 (8 773), organic increase of 14%.
- Operating profit increased 41% to MSEK 2 631 (1 867), including items affecting comparability of MSEK 43 (-149).*
- Operating margin improved to 23.7% (21.3) and the adjusted operating margin was 23.3% (23.0).
- Basic earnings per share were
SEK 1.66 (1.15). - Operating cash flow was MSEK 867 (1 610).
- Exposure to
Russia andUkraine is approximately MSEK 1 800 in orders on hand and approximately MSEK 1 000 in working capital, cash, and fixed assets.*
CEO comments
A strong start
The year 2022 started off strongly. The demand remained at a high level and orders received increased 29% to a record-high BSEK 13.8. This corresponds to 18% organic growth compared to the previous year. It is encouraging to see the high demand for our equipment, for our solutions within automation, digitalization, electrification, as well as for our aftermarket offering. Several large- and medium-sized orders were won, of which many included battery-electric vehicles and automation features. The order intake for services was also strong.
Increased revenues and operating profit
Revenues increased 14% organically to MSEK 11 088. Our reported operating profit increased 41% and reached a new record of MSEK 2 631. The adjusted operating margin increased to 23.3% (23.0). It was supported by organic revenue growth, but diluted by acquisitions.
Our operating cash flow decreased to MSEK 867 (1 610), impacted by a build-up of working capital due to strong growth and constraints in the supply chain.
Disruptions from the war in
The war in
The impact from the Covid-19 pandemic decreased, but the challenges in the supply chain continued to negatively impact our operations.
In the near term, we expect that demand, both for equipment and aftermarket, will remain at a high level.
Dare to think new
Innovations, acquisitions, and partnerships strengthen our position as a leading global productivity and sustainability partner.
We introduced Mobius for Drills, a platform that will lead mines towards automation and connectivity. It enables multi-vehicle command, control and monitoring. We also introduced a more efficient and powerful blasthole drill rig. Both innovations aim to increase safety and productivity for our customers.
I am pleased that we are partnering with steel manufacturer SSAB to utilize fossil-free steel in the production of our underground mining equipment. It is clear that our innovation agenda goes hand-in-hand with our customers' sustainability agenda. Going forward, we will continue to think new, innovate, collaborate, and create options for the future.
President and CEO
Please find the full report in the attached pdf. Additional financial documents are found on
For more information please contact:
+46 72 729 8295
ir@epiroc.com
+46 70 347 2455
media@epiroc.com
This information is information that
https://news.cision.com/epiroc/r/epiroc-interim-report-q1-2022,c3552270
https://mb.cision.com/Main/16899/3552270/1568412.pdf
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