Epiroc AB (publ) (EPOAY) This autumn 2025 Earnings Call Transcript

Karin Larsson
VP of Investor Relations & Head of IR

Hello, and a warm welcome to the Epiroc Q4 and Full Year 2025 Results Presentation. My name is Karin Larsson, Head of IR and Media here at Epiroc. And by my side, I have our CEO, Helena Hedblom; and our CFO, Hakan Folin. As always, they will briefly present the results before we do a Q&A session. You know the drill.

Helena, please go ahead.

Helena Hedblom
CEO, President & Director

Thank you, Karin, and hello, everyone. So I will start with the highlights for the year. So with 79% of our orders deriving from mining, I’m glad to say that the mining demand remained robust in 2025. The customer activity was strongest in gold, copper and zinc, while nickel was softer. Of our mining exposure, gold and copper now together represents 65% of orders. In the year, our customers continue to prioritize brownfield expansions and productivity upgrades as well as exploration, especially in gold and copper.

Infrastructure, which is 21% of our orders received was more mixed. Drilling rigs and equipment for larger civil engineering projects showed stable demand, whereas attachments for use in construction work remained