Epiroc AB stock (SE0015658109): Global mining equipment group signs new partnership as demand for automation grows

Epiroc AB, the Swedish mining and infrastructure equipment group listed on Nasdaq Stockholm, remains in focus after signing a global partnership with SANY Group while investors digest the company’s latest financials and its positioning in the growing market for autonomous and electrified solutions.

Epiroc AB, the Swedish mining and infrastructure equipment group headquartered in Stockholm and listed on Nasdaq Stockholm, has drawn investor attention after signing a global partnership agreement with China’s SANY Group, adding a new commercial lever on top of its existing organic growth strategy in mining and infrastructure equipment, according to Global Mining Review as of 05/27/2026 and the company’s disclosures on Epiroc’s investor relations site as of 02/02/2026.

As of: 05/28/2026

By the editorial team - specialized in equity coverage.

At a glance

• Name: Epiroc A
• Sector/industry: Mining and infrastructure equipment, rock drilling and excavation tools
• Headquarters/country: Stockholm, Sweden
• Core markets: Global mining, quarrying and construction markets with a strong presence in Scandinavia, the Americas, Africa and Asia-Pacific
• Key revenue drivers: Equipment and aftermarket services for underground and surface mining, rock excavation and infrastructure, including automation and electrification solutions
• Home exchange/listing venue: Nasdaq Stockholm (EPI A, EPI B)
• Trading currency: SEK

Epiroc AB: core business model

Company name Epiroc A operates as a global supplier of mining and infrastructure equipment, focusing on rock drilling rigs, underground loaders and trucks, and related services that support mineral extraction and large-scale infrastructure projects. The group was spun out of Atlas Copco in 2018 and has since built its own brand around productivity, safety and sustainability in harsh operating environments, according to company history information on Epiroc’s corporate site as of 03/20/2026.

Epiroc AB’s business model combines the sale of capital equipment with a large installed base that drives recurring aftermarket revenue from parts, service and upgrades. Management emphasizes that service and tools tend to have higher margins and more resilient demand through the cycle than original equipment, as stated in the group’s strategy overview in the annual report 2024 published on 02/02/2025 on Epiroc’s annual report section as of 02/02/2025. Customers typically sign long-term service agreements and rely on Epiroc’s global service network for maintenance, refurbishment and digital monitoring.

The company targets mining customers across commodities including copper, gold, iron ore, battery minerals and other metals, as well as construction and infrastructure customers engaged in tunneling, road and dam construction and rock excavation. Its product offering spans underground and surface drilling rigs, loaders, haul trucks, rock reinforcement equipment, hydraulic attachments and rock drilling tools. The company also develops digital and automation solutions that enable remote operation, fleet monitoring and optimization, and integration with mine planning systems.

Epiroc AB’s strategy emphasizes innovation in automation, battery-electric vehicles and data-driven services. The group has introduced battery-electric versions of several underground loaders and trucks, and it promotes these products as a way for customers to reduce emissions and ventilation costs in underground mines, according to product information and sustainability disclosures on Epiroc’s sustainability pages as of 04/15/2026. The company also invests in software platforms that connect equipment to central control rooms, aiming to improve productivity and safety.

From a home-country perspective, Epiroc AB is one of Sweden’s industrial champions and a significant constituent of the Stockholm equity market. The group’s B-shares trade on Nasdaq Stockholm, which is part of the OMX Nordic markets, and Epiroc is included in major Swedish equity indices such as the OMX Stockholm 30, according to index composition data on Nasdaq OMX Nordic as of 05/27/2026. This positioning makes the stock relevant both for domestic institutional investors and for international passive funds tracking Swedish benchmarks.

Main revenue and product drivers for Epiroc AB

According to Epiroc AB’s annual report 2024, the company reports its operations mainly through the segments Equipment & Service and Tools & Attachments, capturing both original equipment and aftermarket activities, as summarized on Epiroc’s annual report section as of 02/02/2025. Equipment & Service covers underground and surface drilling rigs, loaders, trucks and related services, while Tools & Attachments includes rock drilling tools and hydraulic attachments such as breakers and cutters.

Underground mining equipment is a central revenue driver, as many mines worldwide are gradually moving deeper and require specialized rigs and loaders to operate efficiently and safely. Epiroc AB supplies underground drill rigs, loaders and haul trucks that are often integrated with its automation and digital platforms. Surface mining and quarrying also contribute meaningfully, with equipment for blast hole drilling, rotary drilling and rock excavation.

Aftermarket services, including maintenance, repairs, spare parts and consumables, form a substantial part of the revenue base and typically carry higher margins than equipment sales. Epiroc AB highlights in its financial reporting that service and tools revenues provide a stabilizing effect across mining cycles, as customers continue to operate and maintain existing fleets even when new capital equipment orders slow. This pattern was visible in past downturns, as described in the company’s historical commentary in the 2023 annual report, which pointed out that service revenues contracted less than equipment sales, according to Epiroc’s 2023 annual report as of 02/02/2024.

Another key revenue driver is rock drilling tools and hydraulic attachments, which are consumable or wear-intensive products used in mining, construction and demolition. In September 2024, Epiroc AB strengthened its presence in hydraulic attachments by acquiring ACB+, a French maker of hydraulic attachments for construction and demolition, broadening its offering in this niche, according to a market report referencing the deal on openPR as of 09/30/2024. Such bolt-on acquisitions feed the Tools & Attachments business and can enhance cross-selling opportunities.

Geographically, Epiroc AB’s revenues are diversified across the Americas, Europe, Africa/Middle East and Asia-Pacific. Major mining regions such as Latin America, Canada, Australia and parts of Africa are important markets, particularly for large-scale copper, iron ore, gold and battery metals operations. Infrastructure and construction demand in Europe and Asia also support the company’s equipment and service sales.

Industry reports indicate that the global market for autonomous mining equipment is expected to grow at a double-digit compound annual rate over the coming years, driven by safety and productivity needs as well as labor constraints. One such study projects that the global autonomous mining equipment market could increase from USD 4.71 billion in 2026 to USD 11.06 billion by 2034, corresponding to a compound annual growth rate of about 11.27%, according to Fortune Business Insights as of 04/04/2026. This backdrop is relevant for Epiroc AB because the company actively develops automation and autonomous solutions integrated into its equipment portfolio.

Epiroc AB also benefits from structural trends in electrification and decarbonization. Many miners aim to reduce greenhouse gas emissions and improve working conditions in underground mines, where diesel engines contribute to air quality challenges. Battery-electric loaders and trucks, such as those offered by Epiroc AB, can help mitigate these issues by reducing exhaust gases and potentially lowering ventilation costs. The company’s sustainability reporting highlights agreements with customers who are trialing or adopting such solutions in Canada, Europe and other markets, according to case studies shared on Epiroc’s customer case pages as of 03/15/2026.

For investors, one practical data point is the trading level of Epiroc AB’s stock on the home exchange. The stock traded around SEK 250 for the B-share on Nasdaq Stockholm on 05/27/2026, according to price data summarized on Nasdaq OMX Nordic as of 05/27/2026. In Germany, the share is also available via trading venues such as Tradegate and Xetra, offering euro-denominated access for continental European private investors, as indicated by listing information on German trading platforms consulted on 05/27/2026.

Recent corporate actions

While the new partnership with SANY Group is a fresh commercial development, Epiroc AB has also been active in strategic portfolio management in recent years. The acquisition of ACB+ in September 2024 expanded the company’s Tools & Attachments portfolio, especially in hydraulic attachments for demolition and construction, according to the same sector report on openPR as of 09/30/2024. This aligns with Epiroc AB’s strategy of small, targeted acquisitions that complement its existing products and geographies rather than large-scale transformational deals.

On the partnership side, Epiroc AB and China’s SANY Group entered a global cooperation agreement in May 2026. According to the media report, the parties plan to work together by combining Epiroc’s hydraulic breakers and other specialty attachments with SANY’s excavators and construction equipment, creating bundled offerings for customers in multiple regions, as described by Global Mining Review as of 05/27/2026. For Epiroc AB, the partnership may increase the addressable market for its tools and attachments, and for SANY it potentially adds premium attachments to its machine line-up.

Besides acquisitions and partnerships, Epiroc AB routinely adjusts its portfolio through product launches and technology collaborations. For example, the company has presented several new autonomous and remote-controlled drilling solutions at industry events and trade shows, including its own Epiroc World Expo 2026, where it showcases how autonomous systems can accelerate development rates and boost ore production, according to event information on Epiroc World Expo 2026 pages as of 03/10/2026. Such events support customer engagement and may lead to pilot projects that eventually scale into larger contracts.

From a listing perspective, recent checks show no evidence of a completed take-private or delisting transaction for Epiroc AB. The company’s shares continue to trade on Nasdaq Stockholm, and the group keeps publishing financial reports, sustainability updates and other regulatory information on its investor relations platform as of late May 2026, based on the latest documents available on Epiroc’s investor relations site as of 05/27/2026.

What banks and research houses say about Epiroc AB

No verified analyst coverage was identified at the time of publication.

Conclusion

Epiroc AB remains a core Swedish industrial name with a global footprint in mining and infrastructure equipment, combining sales of capital equipment with recurring aftermarket revenues from service, tools and attachments. From a home-country perspective, its position on Nasdaq Stockholm and inclusion in key Swedish indices such as OMX Stockholm 30 tie the stock closely to the performance of the broader Swedish equity market and make it a relevant holding for domestic and international investors tracking the region.

The recent partnership with SANY Group underscores Epiroc AB’s efforts to widen the reach of its hydraulic breakers and other tools by combining them with SANY’s excavators, potentially broadening the distribution of its Tools & Attachments products in construction and mining markets worldwide. At the same time, long-term growth in autonomous and battery-electric mining equipment, as highlighted by sector studies, aligns with the company’s investments in automation and electrification, providing a supportive backdrop for its technology-focused offerings.

Investors considering Epiroc AB will likely monitor how effectively the group converts these industry trends and partnerships into sustained order intake, revenue growth and margins, alongside its ongoing portfolio management through bolt-on acquisitions. As with any mining-exposed equipment maker, demand will remain linked to commodity cycles, capital spending plans by miners, and infrastructure investment in key regions, all of which can influence the company’s earnings profile and share price behavior on Nasdaq Stockholm.

Disclaimer: This article does not constitute investment advice. The comprehensive scope of this informative article was made possible through the use of a.i.. Stocks are volatile financial instruments.