Epiroc reported a 10% increase in orders received for the first quarter of the year.
The mining equipment supplier released its Q1 today.
The total value of orders received by the company amounted to MSEK 15,148, compared to the MSEK 13,818 received in the same period last year. Excluding Russia, the organic growth in orders was 1%.
The increase in orders was attributed to several large orders won by Epiroc, including the company's largest ever automation order worth MSEK 500 from Roy Hill.
Epiroc's revenues also saw a substantial increase, rising 25% to MSEK 13,868, an organic increase of 8%. The operating margin for the company was 22.8%, a slight decrease from last year's 23.7%. However, the adjusted operating margin was 23.0%, which was only a slight decrease from last year's 23.3%.
In the near term, the company said its expects that the underlying demand, both for equipment and aftermarket, will remain at a high level.
