Epiroc Reports 2024 Annual and Sustainability Results
Epiroc, a supplier to the mining and construction industries, has released its 2024 Annual and Sustainability Report. The company reported a five percent increase in revenue to SEK 63.6 billion, driven by strong mining demand and automation solutions.
Epiroc AB, which provides productivity solutions for the mining and construction sectors, has published its annual and sustainability report for 2024. The report details the company's strategy to enhance customer safety, productivity, and reduce emissions.
The company's mining business remained robust in 2024, with significant demand for automation solutions. However, demand from construction clients was weak, negatively impacting profitability. Overall, revenue rose by five percent to a record SEK 63.6 billion, supported in part by acquisitions. The adjusted operating margin stood at 19.8 percent, and several measures were implemented to improve profitability.
Epiroc increased its investment in innovation to maintain its technological leadership in automation, digitalization, and electrification. Five acquisitions were completed during the year, further solidifying the company's market position. Substantial progress was also made towards sustainability goals, including safety performance, which saw the lowest total recordable injury frequency rate in several years.
The company aims to create value through innovative equipment and aftermarket services. Its strategy focuses on competitive advantage through niche markets, innovation, aftermarket support, and operational excellence, all underpinned by sustainability and a strong corporate culture. Epiroc's revenue for 2024 was approximately SEK 64 billion.