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    EPI A   SE0015658109

EPIROC AB (PUBL)

(EPI A)
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205.4 SEK   -1.25%
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Epiroc's ambitious climate targets validated as science based

11/18/2021 | 02:31am EST

Stockholm, Sweden: Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, 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. 

"Climate change is happening as we speak and we are working internally as well as together with our customers to reduce the impact on climate," says Helena Hedblom, Epiroc's President and CEO. "We are driving the industry's transition toward a climate-friendly future, not the least with our growing offering of battery-electric equipment. Epiroc is committed to halve CO2emissions from the use of our equipment as well as in our own production and in transport by 2030. With the approval of our goals from SBTi, our position as a sustainability leader in our industry has now been reinforced."

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. 

The SBTi - a partnership among the Carbon Disclosure Project, the UN Global Compact, the World Resources Institute and the World Wide Fund for Nature - is driving ambitious, science-backed climate action in the private sector.

For more information please contact:
Camilla Goldbeck-Löwe, Vice President Corporate Responsibility
+46 10 755 0885
cr@epiroc.com
Ola Kinnander, Media Relations Manager
+46 70 347 2455
media@epiroc.com

Epiroc is a vital part of a sustainable society and a global productivity partner for mining and infrastructure customers. With ground-breaking technology, Epiroc develops and provides innovative and safe equipment, such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. The company also offers world-class service and other aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden, had revenues of SEK 36 billion in 2020, and has about 15 000 passionate employees supporting and collaborating with customers in about 150 countries. Learn more at www.epirocgroup.com.

https://news.cision.com/epiroc/r/epiroc-s-ambitious-climate-targets-validated-as-science-based,c3456008

https://mb.cision.com/Main/16899/3456008/1498010.pdf

https://news.cision.com/epiroc/i/sbti-logo,c2981352

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 39 599 M 4 279 M 4 279 M
Net income 2021 6 967 M 753 M 753 M
Net cash 2021 3 376 M 365 M 365 M
P/E ratio 2021 35,7x
Yield 2021 1,41%
Capitalization 234 B 25 221 M 25 309 M
EV / Sales 2021 5,83x
EV / Sales 2022 4,92x
Nbr of Employees 15 198
Free-Float -
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Number of Analysts 22
Last Close Price 205,40 SEK
Average target price 220,00 SEK
Spread / Average Target 7,11%
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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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