Epiroc
Epiroc is a Sweden-based industrial company that designs and manufactures equipment, tools, and service solutions for mining and infrastructure applications. Its business is organized around two reporting segments, Equipment & Service and Tools & Attachments, supported by a global aftermarket and local service network.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueMining and infrastructure equipment plus lifecycle service, parts, and support.
Drilling tools and hydraulic attachments used in mining and construction.
Customers
Epiroc sells primarily to mining companies and, to a lesser extent, infrastructure and construction customers that need heavy-duty equipment and tools. Customers buy for productivity, safety, uptime, and lower operating cost over the equipment lifecycle, which makes service capability and product reliability important purchase drivers.
Buy drill rigs, loaders, haulage, and service contracts for hardrock and other mining operations.
Purchase equipment and aftermarket support to keep fleets productive across projects.
Buy rock excavation equipment, tools, and attachments for construction and civil works.
Buy consumables, spare parts, repairs, and service to extend equipment life.
Strategy
Epiroc’s strategy centers on combining equipment sales with a resilient aftermarket business, using direct sales and local service to stay close to customers. It also emphasizes technology leadership in automation, digitalization, electrification, and safer products, which supports differentiation in a competitive mining equipment market.
Service and parts create recurring demand and strengthen customer retention across the equipment lifecycle.
These capabilities help customers improve productivity, safety, and environmental performance.
Close collaboration improves product fit, service quality, and switching costs.
Geography
Epiroc operates globally, with revenues spread across Europe, North America, Africa/Middle East, Asia/Australia, and South America. The business depends on local sales and service presence because mining customers require close technical support, fast parts availability, and regional field service.
Risks
Epiroc is exposed to cyclical mining investment, commodity price swings, and geopolitical disruption because its equipment demand follows customer capital spending and project activity. It also faces competitive pressure, supply chain complexity, product safety liability, and compliance risks across many countries where it sells and sources.
- Cyclical demand for mining equipmentImpact: HighLikelihood: Medium
Customer purchases depend on investment plans and production levels.
Exposure: Equipment sales and project timing
- Commodity price volatilityImpact: HighLikelihood: Medium
Lower mineral prices can delay or reduce mining capex.
Exposure: Mining end markets
- Geopolitical and trade disruptionImpact: HighLikelihood: Medium
Conflicts and protectionist measures can affect markets, logistics, and sourcing.
Exposure: Global supply chain and sales footprint
- Product safety and liabilityImpact: MediumLikelihood: Medium
Defective products or misuse can harm end users and damage reputation.
Exposure: Mining and infrastructure equipment
- Competition and pricing pressureImpact: MediumLikelihood: Medium
Established rivals compete on product design, service, and financing terms.
Exposure
Accounting
Judgemental itemsOperating segments are CGUs and goodwill depends on future cash flow assumptions.
Impact: Can create non-cash impairment charges if expectations weaken
Only technically and commercially feasible projects may be capitalized.
Impact: Affects operating expense timing and intangible asset balances
Foreign exchange and other hedges can move financial items and equity.
Impact: Can introduce period-to-period volatility in reported earnings
Commercial guarantees, customer claims, and legal matters require judgment.
Impact: Can affect provisions and disclosed off-balance-sheet exposure
Trade and finance receivables are subject to impairment estimates.
Impact: Affects bad debt expense and net receivable carrying value
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Last updated: 24/09/2026