Karin Larsson
VP of Investor Relations & Head of IR

Hello, and a warm welcome to the Epiroc Q1 Results Presentation. My name is Karin Larsson, Head of IR Media here at Epiroc. And by my side, I have our CEO, Helena Hedblom; and our CFO, Hakan Folin. As always, they will briefly present the results before we do a Q&A session. You know the drill. Helena, please go ahead.

Helena Hedblom
CEO, President & Director

Thank you, Karin. So Epiroc delivered a strong start to the year with solid operational performance and record high orders received in the first quarter. Organically, orders increased 23% to SEK 18.3 billion. And this is a record, which is meaningfully higher than both the previous year as well as previous peaks. The demand was supported by historically high mineral prices in segments to which we have a large exposure, such as copper and gold. The equipment orders increased 44% organically and the service orders increased 12% organically. We also noted double-digit growth in exploration and tools.

The infrastructure demand improved somewhat, although geopolitical instability creates uncertainty. Revenues grew organically