EPIROC AB-SPON ADR Business Summary

Epiroc AB-SPON ADR (EPOAY) represents the U.S.-traded interest in Epiroc AB, a global leader in productivity and sustainability solutions for the mining and infrastructure industries. The company generates revenue through two primary segments: Equipment & Service, which provides drill rigs, rock excavation equipment, and extensive aftermarket support; and Tools & Attachments, focused on rock drilling tools and hydraulic attachments. A significant 64% of total revenue is derived from high-margin aftermarket services, including maintenance, spare parts, and digital solutions for automation and electrification. Epiroc competes directly with Sandvik, Komatsu, Caterpillar, and Metso. It occupies a premium market position as a pure-play specialist, distinguishing itself through an industry-leading focus on battery-electric vehicles (BEV) and autonomous drilling technologies that reduce total cost of ownership for customers. The leadership team is led by President and CEO Helena Hedblom, a veteran of the Atlas Copco group who has spearheaded the company’s transition toward carbon-neutral mining since 2020. She is supported by CFO Håkan Folin and Chief Technology Officer Jonas Albertson, who oversees the firm’s R&D in automation and interoperability. The company’s industrial roots date back to 1873 when it was founded as Atlas by Andre Oscar Wallenberg, eventually spinning off from Atlas Copco as an independent entity in 2018. Strategic oversight is provided by Board Chair Ronnie Leten, former CEO of Atlas Copco. Epiroc maintains a prestigious institutional pedigree, with Investor AB—the investment arm of the Wallenberg family—serving as the anchor shareholder, alongside significant positions held by institutional investors such as BlackRock.