Epiroc sees order intake jump by 31% in Q3
Epiroc, an equipment supplier for the mining industry, saw its order intake increase by 31% year-on-year (YoY) in Q3 2021 as it made approximately 12.24 billion SEK ($1.42 billion) despite what it called “global supply chain challenges”.
The company’s operating profit increased by 29% to 2.35 billion SEK ($273.3 million). It attributed this, and the order intake increase, to “several large orders” and growing customer demand for equipment.
Additionally, it said many of its orders in Q3 were for its “most advanced technologies” involving both automation and digitalisation designed to improve productivity and lower costs while cutting carbon emissions.
Helena Hedblom, president and chief executive officer, Epiroc, said the company faced increased inbound and outbound supply chain challenges in Q3 but that it had successfully limited the financial impact.
Hedblom also said Epiroc is investing “more than ever” in the aftermarket and innovations to help customers innovate and access technologies.
In Q3, Epiroc acquired FVT Research, a company that specialises in mining vehicle battery conversions. Since the start of 2021 Epiroc has bought six companies to “further develop” its place in the mining aftermarket sector.
