Epiroc 2026 Capital Markets Day - Day 1 Feedback

研报英文原文证据摘录

Epiroc 2026 Capital Markets Day - Day 1 Feedback

J P M O R G A N Europe Equity Research

09 June 2026

Epiroc Neutral

EPIRa.ST, EPIA SS

2026 Capital Markets Day - Day 1 Feedback Price (08 Jun 26):Skr270.40

Price Target (Jun-27):Skr265.00

Epiroc hosted the first of its two-day Capital Markets Day in Örebro, Sweden European Capital Goods

ACyesterday. As expected, there were no changes to the group targets and the event Chitrita C Sinha

was informational. It is clear that this is an interesting juncture in the market (44-20) 7742-7176

outlook for the group, with strong demand drivers in Mining and an improving chitrita.sinha@jpmorgan.com

picture in Infrastructure. Management noted a good pipeline across replacement J.P. Morgan Securities plc

demand, brownfield and greenfield projects. While there have been a number of Phil Buller

challenges from a margin execution standpoint in recent years, action has been (44-20) 3493-9403

phil.buller@jpmorgan.com

taken and an improving demand picture should support underlying margins absent J.P. Morgan Securities plc

any major macroeconomic events. In our discussions, we note that some investors

Akash Gupta

were hopeful of a margin target being provided today. We provide key takeaways (44-20) 7742-7978

from the presentations below and will follow with feedback on the site visit today. akash.z.gupta@jpmorgan.com

J.P. Morgan Securities plc

Jeremy Caspar

Strategy Presentation - Helena Hedblom, CEO (44-20) 3493-5188

jeremy.caspar@jpmorgan.com

• Financial Targets (unchanged): c.8% growth with ⅔ organic and ⅓ M&A; Ram S Mehta

Industry best margin, c.50% dividend, maintain investment grade rating,

(91-22) 6157-3233

improve returns. ram.mehta@jpmchase.com

• Strategy for profitable growth: Innovation, Aftermarket and Operational J.P.