Mission Statement, Vision, & Core Values (2025) of Epiroc AB (publ).

An Overview of Epiroc AB (publ)

General Summary of Epiroc AB (publ)

Epiroc AB, founded in 1873 as a part of Atlas Copco and becoming an independent entity in 2018, specializes in the manufacture and service of mining, rock excavation, and construction equipment. Headquartered in Stockholm, Sweden, Epiroc operates globally, serving a wide array of sectors including mining, construction, and natural resources.

As of 2024, Epiroc's product offerings include drilling rigs, hydraulic attachments, underground equipment, and automation solutions. The company focuses on innovation and sustainability, advocating for efficient resource utilization and a reduced environmental footprint.

In terms of current sales, Epiroc reported total revenues of approximately SEK 43.3 billion in 2023, marking a robust increase from previous years. The company attributes this growth to strong demand in both mining and infrastructure sectors, particularly in emerging markets.

Company's Financial Performance in the Latest Financial Reports

Epiroc showcased remarkable financial performance in its latest reporting period. The year-end report for 2023 highlighted record-breaking revenues driven by sales of main products like drill rigs and automation solutions.

The company reported a 30% increase in revenue compared to the previous year, with key highlights including:

• SEK 16.0 billion in sales from the Mining and Rock Excavation segment.
• SEK 9.2 billion attributed to the Construction Tools segment.
• Operating profit surged to SEK 10.5 billion, reflecting an operating margin of 24%.
• Net profit increased by 28%, reaching SEK 8.2 billion.

Epiroc also noted a growing presence in markets across North America and Asia, with a 15% year-over-year growth in these regions. The company’s focus on digitalization and automation has played a pivotal role in driving market expansion and enhancing productivity, reflected in a 20% increase in service agreements.

Epiroc as a Leader in the Industry

With a strong market position, Epiroc is recognized as a leader in the mining and construction equipment industry. The company's innovative approach to technology integration, particularly in automation and smart solutions, has positioned it ahead of competitors.

Epiroc's commitment to sustainability and customer collaboration has resulted in numerous accolades within the industry. The company continually seeks to enhance operational efficiency and environmental stewardship.

The following table summarizes key financial metrics and industry position for Epiroc as of 2023:

Investors and stakeholders interested in understanding more about Epiroc's strategies and market position can explore further details to grasp the intricacies behind the company's ongoing success.

Mission Statement of Epiroc AB (publ)

Mission Statement Overview

Epiroc AB (publ) operates with a clear mission statement that emphasizes its commitment to sustainable productivity and innovation within the mining and infrastructure sectors. The significance of this mission lies in its ability to guide the company toward achieving long-term goals, ensuring alignment in strategic decision-making and operations. As of 2023, Epiroc's mission reflects its focus on enabling customers to achieve successful projects while maintaining high standards of safety and efficiency.

Core Components of Epiroc's Mission Statement

1. Delivering Sustainable Solutions

A key component of Epiroc’s mission is its commitment to sustainability. This includes initiatives aimed at reducing the environmental impact of its products and services. In 2022, Epiroc reported a 20% decrease in CO2 emissions from its manufacturing operations, achieving a target set for the previous five years. The company aims to achieve carbon neutrality in its own operations by 2025.

2. Innovation and Technology Leadership

Epiroc prioritizes innovation as a cornerstone of its mission. The company's investments in R&D reached approximately 7% of its annual revenue in 2022, translating to around SEK 1.5 billion. This investment is directed toward developing advanced technologies, such as autonomous and electric equipment, that enhance operational efficiency and safety in mining and construction projects.

3. Customer-Centric Approach

Another integral part of Epiroc's mission statement is its dedication to customer satisfaction. The company measures its success not only through financial performance but also through customer feedback and engagement. In a recent survey, 85% of Epiroc's customers reported being satisfied with the quality of service and product support. This is reflected in their repeat customer rate, which stands at 75%.

Through its mission statement, Epiroc focuses on balancing operational excellence with a commitment to sustainable development, ensuring the company remains a leader in the mining and infrastructure sectors. With ongoing initiatives in innovation, sustainability, and customer engagement, Epiroc is well-positioned to navigate the challenges and opportunities in its industry.

Vision Statement of Epiroc AB (publ)

Vision Statement Overview

Epiroc AB (publ) aims to be the most valued partner for sustainable productivity in the global mining and infrastructure sectors. Their vision emphasizes innovation, efficiency, and sustainability in all operations.

Sustainable Productivity

The vision stresses the importance of sustainable productivity, aligning with global initiatives for sustainable development. Epiroc's commitment is reflected in their focus on reducing environmental impact, enhancing safety, and increasing productivity.

Focus on Innovation

Epiroc places a strong emphasis on technological innovation. In 2022, the company invested approximately SEK 1.36 billion in research and development. This commitment is aimed at delivering advanced solutions such as automation and digitalization.

Global Reach and Market Leadership

Epiroc operates in over 150 countries, showcasing their global reach. As of 2023, they held a market share of approximately 15% in the underground mining equipment sector. Their vision encompasses expanding this leadership position in the coming years.

Commitment to Safety

Safety is a cornerstone of Epiroc's vision. In 2022, they achieved a Total Recordable Incident Rate (TRIR) of 2.0, indicating a strong focus on workplace safety and health across their operations.

Partnerships for Sustainability

Epiroc collaborates with several organizations to promote sustainable practices. In 2023, they partnered with the United Nations Global Compact to enhance their commitment to sustainability and corporate responsibility.

Environmental Goals

Epiroc's vision includes ambitious environmental targets. By 2025, they aim to reduce greenhouse gas emissions by 30% compared to 2020 levels, reflecting their commitment to sustainability.

Customer-Centric Approach

The company’s vision also focuses on building long-term relationships with customers, aiming for enhanced customer satisfaction. In 2022, their Net Promoter Score (NPS) was reported at 70, indicating high customer loyalty and satisfaction.

Core Values of Epiroc AB (publ)

Safety

The core value of safety at Epiroc AB (publ) underscores the company's commitment to the health and well-being of its employees and stakeholders. This value is critical as it aligns with both operational efficiency and corporate responsibility.

In 2022, Epiroc reported a 73% reduction in total reportable injury frequency rate compared to the previous year. This accomplishment was driven by comprehensive training programs and safety audits aimed at enhancing workplace safety.

In 2023, the company launched a global safety initiative called 'Zero Harm,' which focuses on improving safety culture and practices across all operations. The program has led to a 10% increase in safety training participation among employees.

Innovation

Innovation is a cornerstone of Epiroc's strategic framework, enabling the company to deliver cutting-edge solutions to its customers. This commitment to innovation translates into enhanced productivity and sustainability in mining and construction.

In 2023, Epiroc invested SEK 1.5 billion (approximately $150 million) in R&D, focusing on automation and digitalization technologies. The introduction of the SmartROC top hammer drill has improved drilling accuracy by 20%, showcasing Epiroc's dedication to pioneering innovative solutions.

The company has also developed the 'Epiroc Digital' platform, which integrates data analytics into operations, leading to a 15% increase in operational efficiency reported by users in pilot programs.

Sustainability

Sustainability reflects Epiroc's commitment to reducing environmental impact while supporting a sustainable future for the industry. This value drives the company's strategic objectives and operational practices.

As of 2023, Epiroc has reduced its carbon footprint by 30% since 2020, thanks to initiatives like energy-efficient machinery and renewable energy usage at its production facilities. In 2022, the company reported that 90% of its new products meet sustainability criteria, integrating eco-friendly technologies to reduce emissions.

Furthermore, Epiroc's 'Circular Solutions' program focuses on recycling and reusing materials, which has successfully diverted 80% of waste from landfills in its production processes.

Teamwork

Teamwork is essential to Epiroc’s collaborative culture, enabling employees from diverse backgrounds to contribute to shared goals and drive success. Effective teamwork enhances problem-solving and innovation.

In 2022, Epiroc conducted a global employee engagement survey where 85% of employees reported feeling valued as part of a team. This increase in morale is attributed to team-building initiatives and cross-departmental projects aimed at fostering collaboration.

The 'One Epiroc' initiative launched in 2023 promotes inter-team collaboration across regions, resulting in 25% faster project completion times and a robust exchange of best practices between teams.

Integrity

Integrity at Epiroc ensures that the company operates ethically and transparently, which is fundamental for maintaining trust with stakeholders and the broader community.

In 2022, Epiroc achieved a score of 92% in ethical compliance according to its annual compliance audit. Regular training on ethical practices has been critical in upholding this standard.

The company’s adherence to the UN Global Compact principles further reflects its commitment to integrity. In 2023, Epiroc also reported a 100% completion rate in compliance training among its employees, indicating a strong culture of ethical awareness.