Epiroc AB (publ) (EPI_A) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and a warm welcome to the Epiroc Q2 results presentation and thank you for joining us this very busy reporting day. My name is Karin Larsson. I'm head of IR and media here at Epiroc and by my side I have our CEO Helena Hedblom and our CFO Håkan Folin. As always, they will briefly present the results before we do a Q&A session. You know the drill. Helena, please, the stage is yours. Thank you, Karin. And also from me, a warm welcome to all of you. So let me start with the Q2 highlights. So we enjoyed another quarter with high mining demand supporting the organic growth, both year on year and sequentially. A major highlight on the equipment side was the largest contract ever for Epiroc, 2.2 billion over five years to deliver a fleet of fully autonomous and electric surface mining equipment to Fortescue in Australia. We mentioned this contract already when we reported Q1, but it was signed in April and the first firm order booking was done now in Q2. the demand for both service and tools was good. We remain focused on delivering profitable growth in the near term and to safeguard agility and deliver towards both shareholders and customers over time. And I will tell you more about this soon. We had a successful quarter when it comes to innovations. For example, we have added automation features in our exploration offering, and we have had great success for our BEV trolley truck solution with Boliden, which increases productivity by 23%. So more on these innovations soon. A few more words on the demand side. In total, our orders declined 7%, which is fully explained by currency. The FX impact was negative 9% in the quarter. Organically, we achieved 2% growth driven by mining. There is a strong underlying demand and the business cooking looks very good. Our large ord...