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Epiroc (EPI) investor relations material
Epiroc Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
High mining demand drove performance, with a record SEK 2.2 billion contract for autonomous and electric mining equipment in Australia.
Orders declined 7% due to negative currency effects, but organic growth was 1–2%, mainly from mining.
Aftermarket represented 67% of revenues, with mining customers accounting for 79% of orders.
Efficiency measures, site consolidations, and innovation in automation and electrification supported profitability.
Sustainability progress included reduced CO2 emissions and recognition among the world's most sustainable companies.
Financial highlights
Revenues declined 8% to SEK 15.1 billion (MSEK 15,130), mainly due to currency effects; organic growth was 1%.
EBIT decreased to SEK 2.8 billion (MSEK 2,831), margin improved to 18.7%; adjusted EBIT margin was 19.7%.
Operating cash flow was SEK 1.1 billion (MSEK 1,104), lower due to working capital build-up.
Net debt reduced to SEK 13.3 billion (MSEK 13,284), net debt/EBITDA ratio improved to 0.82.
Cash conversion rate was 94%, up from 90% last year.
Outlook and guidance
Mining demand expected to remain high in the near term, while construction demand is anticipated to stay weak.
Pipeline for mining equipment, especially in copper and gold, remains strong; timing of large orders is a key variable.
No significant change in seasonality expected; Q3 typically lower.
Focus on agility and efficiency to mitigate uncertainties, including tariffs and global volatility.
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