Epiroc Publishes Its Annual and Sustainability Report for 2024
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Epiroc has published its Annual and Sustainability Report for 2024. The report is built on Epiroc’s investment case, and shows how the company accelerates the transformation for customers toward strengthened safety and productivity and lower emissions.
“2024 was a successful year for Epiroc. We aim to create value for our customers through our innovative equipment and aftermarket solutions, attract motivated employees by focusing on responsible business practices and sustainable development, and provide strong financial returns to shareholders by increased efficiency. Both our equipment and service offerings saw significant interest, with a particularly strong demand for our automation solutions, including mixed-fleet solutions,” Epiroc’s President and CEO Helena Hedblom writes in the report.
“Thank you to all colleagues for your dedication to innovation and improvement, helping Epiroc stay ahead and create value for everyone,” Hedblom added.
HIGHLIGHTS DURING 2024 INCLUDE:
• The mining business remained strong, with demand for automation solutions being particularly strong. Demand
from construction customers was weak, which affected profitability negatively.
• Revenues increased 5 percent to record-high $6.3 billion (SEK$63.6 billion), supported by acquisitions and
strong mining demand.
• The adjusted operating margin was 19.8 percent (21.7), and several actions to improve profitability were taken.
• Solid progress was made on the 2030 sustainability goals, including within safety with the lowest total
recordable injury frequency rate in several years.
• To remain the long-term technology leader within automation, digitalization and electrification, Epiroc invested
more than ever in innovation.
• Five acquisitions were completed, further strengthening Epiroc’s position.
The Annual and Sustainability Report outlines Epiroc’s strengths and goals, including operating model, as well as the company’s focus areas within sustainability.
The report shows how Epiroc’s value-creating strategy is also its investment case, which focuses around these areas: outperformance, attractive niches, innovation, aftermarket, and operational excellence, all built on a foundation of sustainability and a strong corporate culture.
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 and has around 17,000 passionate employees supporting and collaborating with customers in around 150 countries.
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