Epiroc’s 2022 annual and sustainability report was a reflection of the company’s success and ongoing commitment to innovation.
Epiroc’s report highlighted the company’s financial performance and progress in reducing its environmental footprint and outlined its commitment to sustainability and safety. The annual and sustainability report also detailed Epiroc’s many large equipment orders in 2022, which increased by a record 17 per cent – and strong development in its aftermarket sales.
In addition, the report highlighted the company’s financial performance over the past year. It reported strong sales growth and profitability, with a revenue increase of 25 per cent compared to the previous year.
“The organisation made great strides in delivering according to the strategy and we delivered record results and profitable growth,” Epiroc president and chief executive officer Helena Hedblom said.
“Many groundbreaking innovations were launched and we maintained a high acquisition pace.”
Epiroc announced nine acquisitions in 2022, including Remote Control Technologies (RCT), Mernok, Radlink, Geoscan, JTMEC, AARD Mining Equipment, RNP México, WainRoy and CR.
“Acquisitions are a way for us to accelerate growth and to build leadership positions in critical niches,” Hedblom said.
“Upon completion, [the acquisitions] will add approximately five per cent to our revenues.
“The acquired companies broaden our offering of solutions for automation, digitalisation and electrification, as well as extending our equipment and aftermarket offering.”
Hedblom also touted a number of the company’s innovations.
“Our vision to dare to think new led to many groundbreaking innovations in 2022,” she said.
These innovations include SmartROC T35, the first ever battery-electric surface drill rig; Boltec ABR, a fully mechanised bolt reloading system that increases safety; Mobius for Drills, a platform that improves the implementation of automation and connectivity; V-cutter, a cutter Epiroc said revolutionises trenching and reduces energy by 40 per cent; and Powerbit X, a drill bit with diamond-protected buttons that prolong the replacement intervals.
Elsewhere in the company, Epiroc is striving to improve in a number of operational areas.
“Operational excellence is about doing the right things and continuously working to make them better,” Hedblom said.
“Every improvement counts and it includes all aspects of the business, from products to the organisation. It is also about the ability to execute.
“We have an organisation with decentralised responsibility. This means that our employees have authority to swiftly develop and adjust the business in response to any market development.”
In 2022, Epiroc was able to:
enhance focus on digitalisation, creating a dedicated, customer-focused division for its digital solutions and appointing a chief technology officer
split its parts and services organisation into three regions to enhance the service focus and build stronger customer relations
bolster its workshop efficiency and increase the number of certified service technicians by almost 2,000.
contribute to high availability of spare parts and consumables through its supply-chain improvement program
establish regional centres of excellence to simplify and align administration processes.
Epiroc is a truly global company, with 17,000 employees and customers in some 150 countries.
It launched many innovations in 2022, such as the first-ever battery-electric surface drill rig, a milestone for zero-emission drilling in surface mines and quarries.
As a leading manufacturer of mining and construction equipment, Epiroc is investing heavily in the development of electric and hybrid-powered equipment as part of its focus on electrification. The company is also working to increase the circularity of its operations to reduce waste and promote the reuse of materials.
Despite challenges posed by the COVID-19 pandemic, and the decision to cease deliveries to the Russian market due to the war in Ukraine, Epiroc reported strong sales growth and profitability in 2022.
“In the third quarter, we removed the order book in Russia completely,” Hedblom said.
“As Russia was previously our fourth-largest market, we needed to redirect and find other customers for our solutions, which the organisation handled well.
“The COVID-19 pandemic [also] brought challenges to our business and customers, but our strong performance in 2021 shows the resilience of our operations and the dedication of our employees.”
Epiroc’s commitment to sustainability is reflected in its progress towards achieving its sustainability goals.
In particular, the company said it is looking to make a positive environmental impact via its equipment.
“We aim to offer a complete range of emissions-free equipment by 2030. Underground, we aim even higher – as soon as in 2025,” Epiroc said in its report.
Epiroc is also committed to working to develop new technologies and processes to increase the efficiency and sustainability of its operations.
“We believe that by operating in a sustainable manner, we can create long-term value for all our stakeholders,” Hedblom said.
To learn more, visit epiroc.com/en-au