Investment case part 4 -
We have a high proportion of recurring business
Epiroc has a broad aftermarket offering that includes service, rock drilling tools, ground engaging tools, hydraulic attachments, a dynamic range of technology agnostic digital solutions, training, and more. We continuously invest in developing our offering to provide best-in-class service and enable successful implementation of new technologies, such as automation.
Recurring business
Our equipment operates in performance-critical and harsh environments, driving high demand for consumables and spare parts. In 2025, the aftermarket accounted for 66% (66) of revenues. This includes service and digitalization; 42% (43) of Group revenues and Tools & Attachments; 24% (23).
Aftermarket revenues are both resilient and growing, up 8% annually on average since 2016. Reliability, productivity, and availability are key to retaining customers and expanding our business. Our customers trust that we deliver the solutions they need, when they need them. Roughly 71% (72) of our employees work in aftermarket, often on-site with customers. Their technical expertise is critical to ensuring uptime and performance.
Aftermarket
66% (66)
of revenues 2025
"As our equipment is often performance critical and used in harsh environments, the use of both consumables and spare part is high."
Service
42% of revenues 2025
Reports in Equipment & Service
Tools & Attachments
24% of revenues 2025
'
- Replacement parts and kits.
- Service agreements and audits.
- Circular services, incl. midlife services and remanufacturing solutions for components.
- Other service solutions, incl. custom-engineered solutions, Live Work Elimination, and training.
- Digital solutions, open and OEM agnostic capabilities, incl. connectivity, collision avoidance systems and automation solutions.
- Tools, such as rock drilling tools, tools for rock reinforcement and exploration drilling tools.
- Attachments, such as hydraulic breakers, shears and pulverizers, concrete cutters and busters, quick couplers and thumbs, excavator grapples, excavator magnets and ground engaging tools, such as teeth, lip shrouds, and protective shrouds.
Service
Well-executed maintenance, genuine spare parts, and midlife services boost productivity and extend equipment life, thereby reducing environmental impact and total cost of ownership. Some customers rely on Epiroc technicians on-site 24/7, while others manage their own maintenance and turn to us for parts, technical advice, or training.
We offer a broad portfolio of service agreements and products, including component remanufacturing, midlife upgrades, cost-per-meter contracts, and conversion kits that add new features such as connectivity and battery power. Today, 31% (32) of our equipment operates under a service contract, and we see strong potential to grow this share.
Ensuring high availability to an older fleet
Epiroc has provided rock drilling equipment for more than a hundred years. In fact, the first rock drill was produced in 1905. We have a large fleet of machines around the world and thanks to quality equipment in combination with our wide aftermarket offering, the average fleet age is continuously increasing. At year end, the average age of our equipment fleet in operations was 8.6 (8.4) years and 38% (38) of it was older than 10 years. This bodes well for future aftermarket growth.
To serve this aging fleet, we maintain a supply chain with global and regional distribution centers*. Standardized order flows shorten delivery times, reduce transport costs, optimize inventory, and improve cash flow, while ensuring customers have the parts and consumables they need.
Digital Solutions
Revenues from the Digital Solutions division are reported in the Service revenue stream. Our digital offering is industry-leading, works across all machine brands and improves productivity, safety, and sustainability. (See chapter “Digitalization” for more details.)
*Örebro and Fagersta in Sweden, Garland in USA, Ghent in Belgium, Johannesburg in South Africa, Singapore, Nanjing in China, Mississauga in Canada, Allen in USA, and Santiago in Chile.
Tools
Epiroc offers a broad range of high‑performance rock drilling consumables for underground and surface applications, including drill bits, rods, exploration tools, and rock reinforcement products, all compatible with both Epiroc and other manufacturers’ equipment. Designed for durability and efficiency, our tools enable faster drilling, lower energy use, reduced cost per meter, and extended life through re‑sharpening services.
As mining automation advances, reliable drill bits have become increasingly critical. Fewer manual interventions mean that performance, uptime, and safety are paramount. High‑quality bits reduce unplanned stops, minimize operator exposure to high‑risk areas, and improve productivity. Our Powerbit X exemplifies this with extended replacement intervals that maximize drilling efficiency. In 2025, we introduced next‑generation PCD (polycrystalline diamond) drill bits offering up to ten times longer life than traditional bits.
Attachments
Epiroc offers one of the most comprehensive portfolios of specialty attachments and quick couplers for rock excavation, demolition, recycling, and material handling. Our solutions cover applications such as building and infrastructure deconstruction, asphalt and concrete removal, steel cutting, trenching, material separation, and waste management.
Attachments are designed for excavators and similar carriers and are marketed under a multi-brand approach, giving customers flexibility and choice. By using attachments, customers gain increased versatility and cost efficiency. One carrier can handle multiple applications, reducing capital expenditure, storage needs, and environmental footprint.
Attachments play a critical role in enabling a more sustainable society. The ability to separate metals and materials during demolition supports “urban mining”, a fast-growing market driven by stricter regulations and the global push for circularity.
Since acquiring Stanley Infrastructure in 2024, we have significantly strengthened our offering with industry-leading hydraulic attachments such as breakers, shears, pulverizers, and grapples. This acquisition expanded our reach into construction, demolition, and recycling markets, especially in the USA, complementing Epiroc’s mining expertise and creating a one-stop-shop attachment business.
With digitalization, we can further improve productivity, safety, and lifecycle management for our attachments. One example is the Epiroc InSite, which was launched in 2025. It gives customers total visibility and intelligent control of their operations. It unifies data from mixed fleets into one platform. By optimizing maintenance and consumables planning, InSite lowers cost per meter and extends equipment life. Its OEM-agnostic design ensures flexibility and seamless integration with existing systems. InSite strengthens our aftermarket leadership and accelerates the shift toward more automated, efficient, and sustainable mining and infrastructure industries.
Ground Engaging Tools
Within our Tools & Attachments Business Area, Epiroc provides advanced Ground Engaging Tools (GET), including cast lips, teeth, and protective shrouds for mining buckets and loaders, supported by digital solutions for wear monitoring and predictive maintenance. Engineered for strength and longevity, our lips and teeth deliver optimal penetration and material flow, while proprietary locking systems ensure secure fit and quick replacement. Modular components and protective shrouds extend bucket life and reduce downtime. Combined with digital monitoring, it helps customers lower cost per tonne, improve safety, and maintain predictable performance in demanding mining environments.
Aftermarket products used mainly within mining
Aftermarket products used mainly within infrastructure
