- Orders received increased 17% to MSEK 14 360 (12 322), supported by strong organic growth and acquisitions. The organic increase was 9%.
- Adding back the removal of the Russian order book in Q3 2022 of MSEK 1 002, the organic growth was flat.
- Revenues increased 17% to MSEK 14 997 (12 802), organic increase of 7%.
- Operating profit increased 12% to MSEK 3 260 (2 900), including items affecting comparability of MSEK -12 (-164).*
- Operating margin was 21.7% (22.7), and the adjusted operating margin was 21.8% (23.9).
- Basic earnings per share were
SEK 1.85 (1.86). - Operating cash flow was MSEK 1 889 (1 814).
CEO comments
High demand in mining
The order intake increased 17% to MSEK 14 360 (12 322). The demand and activity level remained high within mining, and several large mining equipment orders were won. It was a particularly strong demand for automation and connectivity solutions. Construction customers, on the other hand, were more tentative.
As anticipated, the demand in the third quarter was seasonally weaker than in the previous quarter. In the near term, we expect that the underlying mining demand, both for equipment and aftermarket, will remain at a high level. Demand from construction customers is expected to be soft.
Strong revenues
Revenues increased 17% to MSEK 14 997 (12 802), driven both by acquisitions and the organic development. The operating profit, EBIT, increased 12% to MSEK 3 260 (2 900). The adjusted operating margin decreased to 21.8% (23.9). While it was supported by currency, investments in R&D and marketing impacted negatively, as did product mix. The dilution from acquisitions was -1.0 percentage points on the Group operating margin.
Cash flow
Operating cash flow increased to MSEK 1 889 (1 814), supported by higher operating profit. The working capital is still at a high level. We are taking measures to optimize and reduce inventories and expect that ratios will gradually improve.
Partnership is the new leadership
In the quarter, we won our largest-ever order, MSEK 700, to provide Kamoa Copper in
Safety on the top of the agenda
With more advanced technology - namely automation, digitalization, and electrification - it is more likely that
Several actions have been taken to reduce injuries and we have a positive trend in the development of our safety indicators. That said, I am very sad to share that we have lost an employee in a fatal accident in the quarter. Safety is our top priority and it is crucial that all
President and CEO
Please find the full report in the attached pdf. Additional financial documents are found on
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This information is information that
https://news.cision.com/epiroc/r/epiroc-interim-report-q3-2023,c3864250
https://mb.cision.com/Main/16899/3864250/2390961.pdf
https://news.cision.com/epiroc/i/boomer-l2-at-the-face-of-underground-mine,c3233016
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