EPIPF - Epiroc AB (publ) (EPOKY) Q2 2024 Earnings Call Transcript
2024-07-19 12:35:09 ET
Epiroc AB (publ) (EPOKY)
Q2 2024 Earnings Conference Call
July 19, 2024, 07:00 AM ET
Company Participants
Karin Larsson - Vice President, Investor Relations and Media
Helena Hedblom - President and Chief Executive Officer
Håkan Folin - Chief Financial Officer
Conference Call Participants
Andrew Wilson - JPMorgan
Max Yates - Morgan Stanley
Christian Hinderaker - Goldman Sachs
Vlad Sergievskii - Barclays
Klas Bergelind - Citi
John Kim - Deutsche Bank
Ben Heelan - Bank of America
Magnus Kruber - Nordea
James Moore - Redburn Atlantic
Presentation
Operator
Welcome to the Epiroc Q2 2024 Report Presentation. [Operator Instructions]
Now I will hand the conference over to Karin Larsson, Head of Investor Relations. Please go ahead.
Karin Larsson
Thank you. Hello, and a warm welcome to the Epiroc Q2 results presentation. My name is Karin Larsson, Head of IR and media here at Epiroc. And today, we do a telephone conference. You can find the presentation material to this telephone conference on our home page under Investor Relations and Financial Publications.
With me today to present the results, I have our CEO, Helena Hedblom; and our CFO, Håkan Folin. They will briefly present the results before we end with the Q&A session. We have a quite easy agenda today. So without further ado, Helena, please tell us about this quarter.
Helena Hedblom
Thank you, Karin, and hello, everyone. So starting with the highlights. So the mining activities continued to be strong in the quarter as anticipated, and our large orders amounted to SEK 950 million, which is up from SEK 550 million last year. And the demand picture within mining is stable at a high level, and there is a lot of business cooking or in other words, the pipeline on potential large orders is solid.
The construction market, on the other hand weakened further in the quarter and impacting the aftermarket business negatively. In the quarter, we completed the acquisition of Stanley Infrastructure, and we also announced the acquisition of ACB+. Together, we will be a leader within attachments and quick couplers, providing customers with a more complete range of productivity solutions.
Long term, the construction market is attractive with an anticipated annual growth rate of 4% to 5% and with attachments used for deconstruction and recycling of steel and copper expected to grow even more....
Epiroc AB (publ) (EPOKY) Q2 2024 Earnings Call Transcript