Epiroc (EPI) Stora Aktiedagarna 2026 summary

Strategic direction and market positioning

• Focus on accelerating productivity and sustainability transformation in mining and infrastructure sectors, leveraging innovation, automation, and electrification.

• High proportion of recurring business through aftermarket services, with 66% of revenues from service and tools & attachments.

• Exposure to attractive, performance-critical niches, especially in mining (79% of orders), with strong demand for gold, copper, and zinc.

• Well-proven business model emphasizing operational excellence, sustainability, and stakeholder value creation.

• Commitment to long-term delivery, with consistent growth in orders, revenues, EBIT, and cash flow over recent years.

Financial performance and operational highlights

• Organic order growth of 7% to SEK 63.0 billion and revenues up 2% to SEK 62.0 billion for 2025; adjusted EBIT margin at 19.6%.

• Q4 2025 saw 11% organic order growth, with equipment up 22% and service up 6%.

• Aftermarket revenues stable at 63% of total, with mining driving growth in rock drilling tools and service.

• Operating cash flow at SEK 2,577 million, with a cash conversion rate of 90%.

• Net debt reduced to SEK 11,004 million, net debt/EBITDA at 0.73, and ROCE at 18.9%.

Innovation, automation, and electrification

• Over 3,900 driverless machines in operation (+13% vs 2024), including the world’s largest OEM-agnostic autonomous mine.

• Major contracts for autonomous and electric-powered mining equipment, including a SEK 2.2 billion deal with Fortescue.

• Electrification accounted for 3.8% of group revenues, with significant productivity and sustainability gains from battery-trolley solutions.

• Digitalization initiatives include advanced analytics, geolocation, and collision avoidance systems, with over 5,500 attachments connected.