Epiroc Ab Class A · OMXSTO:EPI_A
Epiroc Ab Class A — Q3 2026 Earnings Presentation
31 slides from Epiroc Ab Class A's earnings presentation, Oct 28, 2026
Slide 1: Q3 2026
Q3 2026 October 28, 2026 Helena Hedblom, President and CEO Håkan Folin, CFO Karin Larsson, VP IR & Media
Slide 2: Safety first
Safety first From digital innovation to real-world safety impact people evacuated 350 safely in only 35 minutes During a fire at a mining operation in the Fresnillo district in Mexico, Epiroc Situational Awareness supported a safe, effective and successful evacuation 2
Slide 3: Highlights Q3 2026
Highlights Q3 2026 Strong mining demand • Group orders +12% organic to BSEK 17.5 (15.1), driven by mining • Large equipment orders MSEK 790 (470), including the second largest order ever, MSEK 610 for an underground mine in Botswana • Organic service growth +13% Financial performance • Revenues +7%
Slide 4: Group orders received: High mining demand
Group orders received: High mining demand Orders received +15% Strong mining demand Order growth • MSEK 17 467 (15 142) • E&S growth +15% organic • +12% organic • Strong mining and stable • MSEK 790 (470) in large orders* • +3% currency infrastructure • Strong exploration, underground and digital de
Slide 5: Leading productivity and sustainability partner
Leading productivity and sustainability partner Acquisition • Eventspec strengthens service presence in South Africa • ~125 employees and ~MSEK 160 in annual revenues Innovation for both the past and the future • YieldPoint technology monitors micrometer-scale rock movements at a 3 000-year-old arch
Slide 6: FILM: Reaching surface
FILM: Reaching surface 1m44s 6
Slide 7: Aftermarket 67% of revenues
Aftermarket 67% of revenues Aftermarket demand driven by mining Revenue split • Service orders +13% organic, with strong demand for mid-life rebuilds and digital solutions for use in automation and safety 24% (25) applications T&A 33% (34) Equipment • Tools & Attachments orders Aftermarket +4% organ
Slide 8: Group revenues and operating profit
Group revenues and operating profit Revenues +10%, MSEK 16 775, +7% organic Adjusted EBIT +18%, MSEK 3 426 (2 896) • 33% equipment (34) and 67% aftermarket (66) • Organic MSEK +475 supported by high invoicing and EBIT +22%, MSEK 3 411 (2 802) efficiency measures taken in previous quarters Adjusted o
Slide 9: Equipment & Service: Orders received
Equipment & Service: Orders received Orders received +19% Strong mining Order growth • MSEK 13 570 (11 439) • Strong exploration, underground • +15% organic growth and digital demand • +16% for equipment • Large orders of MSEK 790 (470) • +13% for service Orders received Organic growth Orders receiv
Slide 10: Equipment & Service: Revenues and operating profit
Equipment & Service: Revenues and operating profit 76% of Group revenues and 85% of adj. EBIT in the quarter Revenues +11%, MSEK 12 753, +8% organic Adjusted EBIT +20%, MSEK 3 035 (2 527) • 44% equipment (45), +5% organic • Organic: higher invoicing and increased efficiency • 56% service (55), +10%
Slide 11: Tools & Attachments: Orders received
Tools & Attachments: Orders received Orders received +6% Strong mining Order growth • MSEK 3 886 (3 677) • High customer activity • +4% organic growth within mining • +2% currency • Demand for attachments stable Orders received Organic growth Orders received bridge -4% organic 9 4 187 4 099 8 3 938
Slide 12: Tools & Attachments: Revenues and operating profit
Tools & Attachments: Revenues and operating profit 24% of Group revenues and 15% of adj. EBIT in the quarter Revenues +8%, MSEK 4 013, +6% organic Adjusted EBIT +23%, MSEK 531 (430) • Currency +2% • Organic: Increased efficiency EBIT +22%, MSEK 531 (436) Adjusted operating margin, 13.2% (11.6) Opera
Slide 13: Costs, net financials and tax
Costs, net financials and tax Employees Administration, marketing and R&D expenses • Employees, incl. additional workforce, increased +10% 5% to 21 769 (20 635) to support growth 2 742 2 714 2 745 2 702 2 648 • Production, service and logistics 2 552 2 565 2 447 2 496 Administration, marketing and R
Slide 14: Operating cash flow
Operating cash flow Operating cash flow and cash conversion rate, % Operating cash flow MSEK 1 438 (2 476) • Higher operating profit 3 956 • More inventory tied up following a period of high 104 105 equipment demand 100 94 93 88 90 88 • Higher taxes paid 2 577 78 2 476 1 902 Cash conversion rate 78%
Slide 15: Net working capital
Net working capital Net working capital Net working capital Working capital MSEK 27 504 (22 598) • Higher inventories 27 504 • Increased payables 38.0 37.0 37.7 24 395 22 598 Inventories +6 218 • +12% excl. currency 27 504 24 480 24 395 22 598 20 202 18 262 • 37.7% (37.0) of revenues Receivables 12
Slide 16: Capital efficiency
Capital efficiency • Net debt MSEK 11 222 (11 088) Net debt and Net debt/EBITDA Capital employed and ROCE • Net debt/EBITDA 0.70 (0.73) 67 319 62 285 62 124 • Improved ROCE to 19.8% (19.3) • Higher operating profit 0.97 0.73 0.70 • Investments to secure long-term profitable growth ongoing in Sweden,
Slide 17: Summary
Summary Demand in Q3 • Our safety solutions make a real positive difference • Strong mining demand • Orders +12% organically to BSEK 17.5 • Improved margins due to increased volumes and efficiency Looking ahead • In the near term, we expect mining demand to remain high and demand from infrastructure
Slide 18: Q&A
Q&A ir@epiroc.com Q1 2025 18
Slide 19: Eager to know more about Epiroc?
Eager to know more about Epiroc? Useful links • Financial publications incl. Key figures and pre-results mail • Calendar • Annual and Sustainability Report • CMD Karin Larsson Alexander Apell Gustaf Bratt VP IR & Media IRO IR Project Manager +46 10 755 0106 +46 10 755 0719 +46 10 755 0114 ir@epiroc.
Slide 20: Appendix
Appendix Q1 2025 20
Slide 21: Leading productivity and sustainability partner with roots from 1873
Leading productivity and sustainability partner with roots from 1873 Orders received Orders received* Revenues in 69 082 ~150 countries Europe 62 213 62 974 58 899 ~ 19 900 North America 12% 53 222 employees 30% 45 648 Adj. EBIT margin* 39 400 39 492 36 579 20.0% Africa/ Asia / Australia Middle East
Slide 22: Our strategy is our investment case
Our strategy is our investment case We accelerate the productivity We have a high proportion We have a well-proven and sustainability transformation of recurring business business model in our industry Operational Operational Attractive niches Innovation Aftermarket Outperformance excellence excelle
Slide 23: Financial goals at a glance
Financial goals at a glance Goals Description Q3 2026 2025 2016-2025 Growth Annual revenue growth of 8% over a business cycle. 10% -3% 10% p.a. Industry-best operating margin, with strong 20.3% 19.2% 20.3% Profitability (EBIT) resilience over the cycle. Adj. 20.4% Adj. 19.6% Adj. 20.8% Improve capit
Slide 24: Commitment to long-term delivery
Commitment to long-term delivery History of translating orders into EPS and cash growth Orders +82% Revenues +77% EBIT +89% Adj. EBIT +78% Basic EPS +89% Operating cash flow +179% +82% +77% +89% +78% +89% +179% 69 082 63 918 12 777 12 789 7.69 7 217 37 990 36 191 7 203 4.07 6 751 2 586 8% 7% 8% 7% 8
Slide 25: Exposure of orders received
Exposure of orders received Hard rock exposure Mineral exposure 17% Quarterly, Q3 2026 21% Annual, presented 36% at 2026 CMD 14% 83% 29% Mining Infrastructure Copper Gold Iron ore Other Mining exposure Infrastructure exposure Annual, presented Annual, presented 21% 19% at 2026 CMD at 2026 CMD 40% 13
Slide 26: 2030 goals for people and planet
2030 goals for people and planet • No work-related injuries • Balanced workforce and double the number of women in operational roles • Have all employees and business partners comply with our Code of Conduct and Responsible Sales Assessment Process implemented • Halve CO2e emissions in operations* •
Slide 27: Sustainability: People & Planet
Sustainability: People & Planet • Increased safety • Total recordable injury frequency rate decreased to 4.0 (4.1) • 19 902 (19 067) employees • Women employees 20.7% (20.3) • Women managers 24.2% (24.9) • CO2e emissions from operations and company vehicles* -14% to 43 822 (50 722) tonnes • Renewabl
Slide 28: Debt information and maturity profile
Debt information and maturity profile Maturity profile (MSEK) • Net debt/EBITDA: 0.70x 9 637 • S&P rating: BBB+ Stable outlook • External financing: BSEK 15.6 4 000 • 77% long term financing • 54% green or sustainability linked • 3.5 years average tenor (long-term) • Average interest duration: 14 mo
Slide 29: The profit bridge currency effect
The profit bridge currency effect What you see in What you get in our Impact The details you our report key figures Q326 cannot see… Income statement effect 1a. Translation converting subsidiaries to SEK 1. Translation MSEK -91 Income statement effect from balance sheet 1b. Internal profit Total ope
Slide 30: United. Inspired.
United. Inspired. Performance unites us, innovation inspires us, and commitment drives us to keep moving forward. Count on Epiroc to deliver the solutions you need to succeed today and the technology to lead tomorrow. epiroc.com
Slide 31: Disclaimer
Disclaimer - Some statements in this presentation, or in conclusion to it, are forward-looking and the actual outcome may be different. In addition to the factors explicitly commented upon, the actual outcome may be affected by other factors such as macroeconomic conditions, movements in foreign exc