Customers, agility and employees
Customer’s first choice
By understanding our customers’ specific needs, we develop solutions that bring them value through increased productivity, safety, sustainability and reduced costs. We adapt our ways of working and prioritize product development based on concrete feedback from customers and the close interaction between our account managers, product owners and development engineers. When needed, we establish dedicated teams of people who regularly meet customers on different levels and openly share views and proposals.
During the year, for example, we located engineering and R&D resources close to a customer, placed a service resource permanently on site and developed customized crushing chambers for the customer’s specific application. We modified parts to suit other customers’ needs and manufactured locally to shorten lead times and reduce development cycles and environmental impact. In Finland, we prioritized the development of our hammer product as a result of customer feedback. We also made adaptations to our mobile equipment based on customer feedback.
Agile through cycle
Being agile through the cycle includes driving measures to improve resilience, both on revenues and operating margins. The acquisition of SP Mining, with high parts, services and consumables sales, is an example of how we have improved revenue resilience. During the year we also worked actively to mitigate inflation with price compensation.
To protect the margins in downturns, we focus on operational efficiency and reducing our fixed cost base, but we also instill a mindset of preparedness and are ready to act in the event of business changes.
The softening demand in the infrastructure segment resulted in activation of contingency plans and a reduction of employees in all our divisions. We used non-replacement and natural attrition, reduced temporary contracted employees and implemented flexible working hours. We have conversely been employing contractors in Australia where the demand continued to be on a high level. The restructuring program initiated in 2022 is progressing according to plan and will lead to annualized savings of SEK 140 million with a full run-rate in 2025.
Another example of insourcing was the investment in a foundry in India in 2023. This enables a greater control of our supply chain for a much higher proportion of our key wear components for crushing chambers and jaw crushers.
Employer of choice
We actively work to improve our diversity and gender balance, in both internal and external recruitments, to ensure a good mix of people in leading positions in our company. In relation to work balance, and to adapt to respective individual needs, we accommodate flexible solutions such as location and working at home possibilities. Attracting technicians where our customers operate is an increasing challenge. We address this by working with local schools to sponsor, encourage and educate young people to be able to work with us and operate equipment at customer sites.
