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Epiroc interim report Q3 2026
- Orders received increased 15% to MSEK 17 467 (15 142), with an organic increase of 12%. Large orders amounted to MSEK 790 (470). Currency impacted positively by 3%.
- Revenues increased 10% to MSEK 16 775 (15 242), with an organic increase of 7%. Currency impacted positively by 3%.
- Operating profit increased 22% to MSEK 3 411 (2 802), including items affecting comparability of MSEK -15 (-94)*. The operating margin improved to 20.3% (18.4).
- The adjusted operating profit increased 18% to MSEK 3 426 (2 896), corresponding to an adjusted operating margin of 20.4% (19.0).
- Basic earnings per share increased to SEK 2.00 (1.62).
- Operating cash flow was MSEK 1 438 (2 476).
- Net debt/EBITDA ratio was 0.70 (0.73).
CEO comments
High mining demand
Mining demand was strong in the quarter and mining customers now represent 83% (78) of Group orders received. The demand from infrastructure customers remained stable. In total, orders received increased organically by 12% to MSEK 17 467 (15 142).
Equipment orders increased 16% organically, supported by strong demand for underground equipment. Interest in our new diesel-electric solutions continued to strengthen following successful product launches. Large equipment orders amounted to MSEK 790 (470). They include our second-largest order ever, MSEK 610, from MMG for the expansion of the Khoemacau Copper Mine in Botswana. Our broad exploration offering continued to deliver strong growth.
The organic growth in service was strong, up 13%, driven by mid-life upgrades. We also saw strong momentum in digital, with solutions for automation and safety among the strongest-growing parts of our service offering.
Sequentially, organic orders declined by -3%, reflecting a normal seasonal pattern.
In the near term, we expect mining demand to remain high and demand from infrastructure customers to remain stable.
Strong EBIT growth
Revenues increased to MSEK 16 775 (15 242), corresponding to 7% organic growth. The ramp up of production has progressed according to plan and delivery times are normal.
Our operating profit, EBIT, increased 22% to MSEK 3 411 (2 802), supported by increased volumes and actions to increase efficiency. The operating profit includes items affecting comparability of MSEK -15 (-94), fully explained by the change in provision for the share-based long-term incentive programs. The operating margin improved to 20.3% (18.4).
I am proud of the strong organic margin contributions in both our business areas. This reflects the strength of our organization and our ability to execute.
Operating cash flow
The operating cash flow amounted to MSEK 1 438 (2 476). Following a period of strong equipment orders, more inventory has been tied up. The cash conversion rate, rolling 12 months, was 78% (105).
Leading innovations
Innovation is a key driver of customer value creation, and our solutions make a meaningful difference for customers. During the quarter, a fire in the Fresnillo mining district in Mexico required the evacuation of around 350 people in an underground mine. Supported by Epiroc's situational awareness technology, the evacuation was completed in just 35 minutes, reducing the evacuation time by more than half.
Automation is another area where we continue to make good progress. During the quarter, we launched a technology that enables autonomous mine trucks to operate seamlessly between underground and surface environments, supporting end-to-end autonomous haulage.
Investing to become an even stronger company
We continue to invest in initiatives that strengthen our long-term competitiveness and support future growth. During the quarter, we inaugurated our modernized Kalmar facility in Sweden, a world-leading manufacturing site for hydraulic attachments. We are making good progress with the expansion of our manufacturing capabilities in Nashik, India, and our new distribution center in Örebro, Sweden. The transfer of tools production from Langley, Canada, to Matehuala, Mexico, is proceeding according to plan. These footprint investments strengthen our ability to create value for our customers and shareholders.
Helena Hedblom
President and CEO
Please find the full report in the attached pdf. Additional financial documents are found on Epiroc's Financial publications page.
Epiroc's Minetruck MT42 Battery.
For more information please contact:
Karin Larsson, Vice President Investor Relations and Media
+46 10 755 0106
ir@epiroc.com
Alexander Apell, Investor Relations Officer
+46 72 083 9519
ir@epiroc.com
Ola Kinnander, Media Relations Manager
+46 70 347 2455
media@epiroc.com
This information is information that Epiroc AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons above, at 11.30 CET on October 28, 2026.
Epiroc is a global productivity partner for mining and infrastructure customers, and accelerates the transformation toward a sustainable society. With ground-breaking technology, Epiroc develops and provides innovative and safe equipment, such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. The company also offers world-class service and other aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden, had revenues of around SEK 62 billion in 2025, and has more than 19 000 passionate employees supporting and collaborating with customers in around 150 countries. Learn more at www.epirocgroup.com.