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    EPI A   SE0015658109

EPIROC AB (PUBL)

(EPI A)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 06/24 06:17:03 am
191.4 SEK   +1.97%
06/16NORDIC IRON ORE  : and Epiroc Sweden AB sign MoU
AQ
06/14EPIROC  : Completes Acquisition Of 3D-P
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06/07EPIROC  : acquires Canadian mine connectivity provider
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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) 2.21% 191.9 Delayed Quote.150.85%
JPMORGAN CHASE & CO. 0.61% 151.12 Delayed Quote.18.21%
SANDVIK AB 0.56% 217.3 Delayed Quote.7.35%
All news about EPIROC AB (PUBL)
06/16NORDIC IRON ORE  : and Epiroc Sweden AB sign MoU
AQ
06/14EPIROC  : Completes Acquisition Of 3D-P
AQ
06/07EPIROC  : acquires Canadian mine connectivity provider
AQ
06/01EPIROC  : completes acquisition of Australian mining logging company
AQ
05/31EPIROC  : Temporary change in the number of shares and votes in Epiroc AB
AQ
05/31EPIROC  : appoints Håkan Folin new Chief Financial Officer
AQ
05/28EPIROC  : to acquire Australian mining logging company
AQ
05/24EPIROC  : General Counsel Jörgen Ekelöw to retire in 2022
AQ
05/11Epiroc Participates In EU-Funded NEXGEN SIMS Project
MT
05/11EPIROC  : and partners collaborate in new EU-sponsored project for carbon-neutra..
AQ
More news
Financials
Sales 2021 39 726 M 4 688 M 4 688 M
Net income 2021 6 645 M 784 M 784 M
Net cash 2021 4 488 M 530 M 530 M
P/E ratio 2021 33,9x
Yield 2021 1,52%
Capitalization 217 B 25 594 M 25 616 M
EV / Sales 2021 5,35x
EV / Sales 2022 4,81x
Nbr of Employees 13 947
Free-Float 81,1%
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Technical analysis trends EPIROC AB (PUBL)
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 21
Last Close Price 187,70 SEK
Average target price 192,00 SEK
Spread / Average Target 2,29%
EPS Revisions
Managers and Directors
NameTitle
Helena Hedblom President, Chief Executive Officer & Director
Anders Lindén Chief Financial Officer, SVP-Controlling & Finance
Ronnie Leten Chairman
Ylva Lindquist Vice President-Compliance
Anders Gerhard Ullberg Independent Director
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