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-time high revenues totaling 3,879 MNOK in the quarter. This corresponds to 27%
growth from the same period last year and 14% when adjusting for currency
effects.
Highlights 2Q 2023
(all growth figures are from the second quarter last year and adjusted for
currency)
· Revenues amounted to 3,879 MNOK, up 14%
· Revenue growth of 15% in Collection, 26% in Recycling, and 4% in Food
· Gross margin improved to 42.5%, corresponding to an increase of 0.6
percentage points
· Operating expenses amounted to 1,112 MNOK, in line with the previous nine
month’s level when adjusted for currency and general inflation
· EBITA was 536 MNOK, up 3%
· Cash flow from operations of 41 MNOK, increase in receivables of 605 MNOK
· Recycling order backlog growth of 28%
Tove Andersen, President and CEO of TOMRA Systems ASA comments:
“I am very pleased that we continue to deliver on our strategic growth
ambitions, delivering all-time high revenues in all three divisions -
Collection, Recycling and Food. At the same time, we have lifted gross margins
in both Collection and Recycling while scaling up the organization for further
growth and continuing to innovate. We are also taking further actions to improve
performance in our Food division where we have been seeing weaker market
sentiment in the current macroeconomic environment.”
“TOMRA is well positioned to develop adjacent opportunities to our core
business, and I am very excited about the progress we are making in these new
ventures. There is a legislative push to advance the circularity of plastic
packaging through recycled content targets and reusable takeaway packaging. In
TOMRA, we innovate new circular business models based on our technology. This
quarter, we announced together with Plastretur that we will create Norway’s
first dedicated sorting plant to enable circular plastic packaging. We also
entered into collaboration with Aarhus Municipality in Denmark to create the
country’s first deposit system for takeaway packaging. All these ventures have
the potential to become additional profitable business divisions in TOMRA.”
“Looking ahead, we are optimistic about the long-term demand for better resource
productivity, which is driven by megatrends such as population increase, a
growing middle-class consumer base, greater urbanization, and hence the need for
increased focus on sustainability and climate change. With the technology we
provide, TOMRA is well-positioned to enable society meet the challenges that
follow by transforming how we obtain, use and reuse our world’s resources.”
Webcast:
President & CEO Tove Andersen and CFO Eva Sagemo will present the results today
at 08:00 CEST. The presentation will be sent via live webcast. Questions to the
speakers can be directed using the Q&A-tool embedded in the webcast and will be
addressed towards the end of the presentation. A recorded version of the webcast
will be available shortly after the webcast has concluded. Link to the webcast:
https://channel.royalcast.com/landingpage/hegnarmedia/20230714_1/
Asker, 14 July 2023
TOMRA Systems ASA
For further information, please contact:
Eva Sagemo, CFO
Tel: +47 934 39 911
Daniel Sundahl, Head of Investor Relations
Tel: +47 913 61 899
TOMRA was founded on an innovation in 1972 that began with the design,
manufacturing and sale of reverse vending machines for automated collection of
used beverage containers. Today TOMRA provides technology-led solutions that
optimize resource use and recovery in the food, recycling, and ore sorting
industries.
TOMRA has more than 105,000 installations in over 100 markets worldwide and had
total revenues of NOK 12.2 billion in 2022. The Group employs 5,000 people
globally and is publicly listed on the Oslo Stock Exchange. (OSE: TOM). For
further information about TOMRA, please visit www.TOMRA.com
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
Kilde
