Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  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 Quote. Real-time Estimate Cboe Europe - 01/25 11:29:45 am
205.4 SEK   -1.25%
01/20Sandvik orders beat forecasts as mining demand remains strong
RE
2021Invitation to Epiroc's results presentation for Q4 2021 on January 26
AQ
2021Epiroc to Seek Acquisition Opportunities
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Epiroc : interim report Q3 2021

10/21/2021 | 01:31am EST
  • Orders received increased 31% to MSEK 12 245 (9 373), organic increase of 24%. Acquisitions contributed with 7%.
  • Revenues increased 14% to MSEK 9 966 (8 724), organic increase of 11%.
  • Operating profit increased 29% to MSEK 2 352 (1 820), including items affecting comparability of MSEK 21 (-76).*
  • Operating margin improved to 23.6% (20.9) and the adjusted operating margin improved to 23.4% (21.7).
  • Basic earnings per share were SEK 1.60 (1.10).
  • Operating cash flow was MSEK 1 613 (1 355).
  • Agreement made to acquire FVT Research, a specialist in mining vehicle battery conversions.**

CEO comments

Strong financial result in Q3 
The activity was high in the quarter. Our customers continued to invest and we achieved record orders received. Despite global supply-chain challenges, both revenues and operating profit increased.

High demand 
Supported by a good aftermarket, acquisitions and several large orders, the orders received increased 31% to MSEK 12 245. This corresponds to 24% organic growth compared to Q3 2020. Acquisitions contributed with 7%. Equipment achieved the highest organic order growth of 43%. Also the aftermarket remained strong with an organic growth of 13% in Service and 14% in Tools & Attachments. 

Sequentially, i.e. compared to the previous quarter, the orders received increased 3% organically. 

We expect that demand, both for equipment and aftermarket, will remain at a high level in the near term. 

Increased revenues and profit
Revenues increased 11% organically to MSEK 9 966 with strong growth for the aftermarket. 

Our operating profit increased 29% to MSEK 2 352. The adjusted operating margin improved to 23.4% (21.7). It was supported by increased volumes, mix and good cost control, but diluted by acquisitions and currency. 

The supply-chain challenges, both inbound and outbound, increased during the quarter. However, the organization is managing the situation well and the financial impact was limited. 

Automation gaining traction
Many of the orders that we won in the quarter include our most advanced technologies involving both automation and digitalization. These technologies enable increased productivity and lower cost of ownership for our customers while at the same time enabling improved safety and lower CO2 emissions. We are excited to see our customers embracing these solutions.

Initiatives to improve diversity and inclusion
From experience, I know that diverse teams perform better - and at Epiroc, we always strive to do things better. We foster an inclusive culture, which means a workforce with a mix of nationalities, experiences and gender. For example, one of our goals is to double the number of women in operational roles by 2030. We have several initiatives ongoing in this area. In India, we have started a service academy for women, who will be working on a large service contract. We have also initiated several programs to increase the number of women in production and service. 

Creating options for the future
We are investing more than ever in aftermarket and innovations to ensure we remain the preferred partner for our customers. In addition to our significant investment in R&D, we acquire businesses to grow our reach and to access technologies. In the quarter, we announced the acquisition of FVT Research, a specialist in mining vehicle battery conversions. Since the start of the year, we have finalized six acquisitions with combined annual revenues of more than one billion SEK. With these acquisitions, Epiroc will further develop the position as the enabler for customers when it comes to increased productivity and sustainability - and we do it by leading the way within automation, digitalization and electrification. 

Helena Hedblom
President and CEO

Please find the full report in the attached pdf. Additional financial documents are found on Epiroc's Financial publications page.

For more information please contact:
Karin Larsson, Vice President Investor Relations
+46 10 755 0106
ir@epiroc.com
Ola Kinnander, Media Relations Manager
+46 70 347 2455
media@epiroc.com

This information is information that Epiroc AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 7.30 am CEST on October 21, 2021. 

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-interim-report-q3-2021,c3437200

https://mb.cision.com/Main/16899/3437200/1483923.pdf

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

All news about EPIROC AB (PUBL)
01/20Sandvik orders beat forecasts as mining demand remains strong
RE
2021Invitation to Epiroc's results presentation for Q4 2021 on January 26
AQ
2021Epiroc to Seek Acquisition Opportunities
CI
2021EPIROC CAPITAL MARKETS DAY : A vital part of a sustainable society
AQ
2021Epiroc's ambitious climate targets validated as science based
AQ
2021Epiroc Receives Validation by the Science Based Targets Initiative for its Ambitious Ta..
CI
2021Epiroc completes acquisition of specialist in mining vehicle battery conversions
AQ
2021Epiroc acquires remaining share of Mobilaris MCE
AQ
2021Epiroc AB acquired remaining 66% stake in Mobilaris MCE AB from Mobilaris AB.
CI
2021Epiroc speeds up mining electrification with global roll-out of diesel-to-battery conve..
AQ
More news
Analyst Recommendations on EPIROC AB (PUBL)
More recommendations
Financials
Sales 2021 39 599 M 4 281 M 4 281 M
Net income 2021 6 967 M 753 M 753 M
Net cash 2021 3 376 M 365 M 365 M
P/E ratio 2021 36,1x
Yield 2021 1,39%
Capitalization 234 B 25 221 M 25 320 M
EV / Sales 2021 5,83x
EV / Sales 2022 4,92x
Nbr of Employees 15 198
Free-Float -
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
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 208,00 SEK
Average target price 220,00 SEK
Spread / Average Target 5,77%
EPS Revisions
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
Sector and Competitors
1st jan.Capi. (M$)
EPIROC AB (PUBL)-9.25%25 575
PACCAR, INC.3.74%31 645
KUBOTA CORPORATION-0.92%26 470
TOYOTA INDUSTRIES CORPORATION-1.74%24 617
KOMATSU LTD.7.70%24 078
CNH INDUSTRIAL N.V.-9.91%20 680