Epiroc expects ‘limited impact’ from tariffs

That is according to the company’s CEO Helena Hedblom, who was speaking to Reuters after the company reported first-quarter operating profit slightly below market expectations.

Hedblom said the company is focused on “controlling what we can control in this uncertain geopolitical landscape.”

Epiroc reported quarterly operating profit of 3.1 billion Swedish Krone (US$321.2 million), up from 2.8 billion Krone a year earlier.

Epiroc’s first-quarter order intake increased 17% year-on-year to 16.6 billion Krone.

Organically, orders rose 10%, while its large equipment order levels were higher than in the comparable period, it said.

The company also said it expects near-term underlying mining demand, both for equipment and aftermarket, to remain high, contrasting its weaker construction demand forecast.

“We are closely monitoring market developments and have already started to optimise logistics and distribution flows, leverage our global manufacturing footprint, explore alternative suppliers, as well as discuss potential pricing impact with customers,” Hedblom said in a statement.

“But also on the raw material side that we are sourcing more and more regionally when it comes to the ingoing raw material”, she told Reuters.