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EPIROC AB (PUBL)

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Epiroc Receives Validation by the Science Based Targets Initiative for its Ambitious Targets to Reduce CO2 Emissions

11/18/2021 | 02:30am EDT

Epiroc has received validation by the Science Based Targets initiative (SBTi) for the company's ambitious targets to reduce CO2 emissions. In 2020, Epiroc launched ambitious sustainability goals that include halving its CO2 emissions by 2030. The SBTi has now validated Epiroc's climate targets as being in line with keeping global warming at a maximum 1.5? C, consistent with the latest climate science and the goal of the Paris Climate Agreement. In line with SBTi requirements, Epiroc commits to halve its absolute CO2 emissions in its own operations - so called Scope 1 and Scope 2 - by 2030, with 2019 as base year. However, more than 99% of Epiroc's total CO2 emissions are other indirect emissions, with about 83% of the total coming from when customers use the products. Therefore, Epiroc has committed to halve the absolute CO2 emissions from use of sold products - so called Scope 3 - by 2030. This is industry leading and well above SBTi's minimum requirements. The transition from diesel-powered to battery-electric machines will make a significant impact. In addition, Epiroc's 2030 sustainability goals also include halving CO2 emissions from transport, requiring 50% reductions of CO2 emissions from relevant suppliers, having 90% renewable energy in own operations, and offering a full range of emissions-free products, as well as ambitious targets for people. In addition to providing a growing range of battery-electric products, Epiroc's climate actions include, among others, shifting transport from air to sea, and installing solar panels at many of its facilities.


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Analyst Recommendations on EPIROC AB (PUBL)
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Financials
Sales 2022 47 357 M 4 772 M 4 772 M
Net income 2022 8 315 M 838 M 838 M
Net cash 2022 4 488 M 452 M 452 M
P/E ratio 2022 26,5x
Yield 2022 1,88%
Capitalization 211 B 20 970 M 21 309 M
EV / Sales 2022 4,37x
EV / Sales 2023 3,92x
Nbr of Employees 15 548
Free-Float 81,3%
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 182,40 SEK
Average target price 208,59 SEK
Spread / Average Target 14,4%
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Managers and Directors
Helena Hedblom President, Chief Executive Officer & Director
Hňkan Victor Folin Chief Financial Officer, SVP-Finance & Controlling
Ronnie Leten Chairman
Ylva Lindquist Vice President-Compliance
Anders Gerhard Ullberg Independent Director
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