Tomra Systems ♻ (TOM)

Jadda · juli 12, 2025, 8:32am

TekBot · juli 17, 2025, 5:00am

TOMRA: Preparation for new Collection markets, record quarter in Food, continued market uncertainty in Recycling

TOMRA, the global technology leader in sensor-based solutions for optimal
resource productivity, announces its financial results for the second quarter
2025.
…

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Tove Andersen, President and CEO of TOMRA Systems ASA comments:

“The second quarter has seen large variations in market dynamics between our
three divisions. In Collection, there is high activity in preparation for Poland
and Portugal’s upcoming deposit return systems, but we have had a momentary
slowdown in sales reflecting the phasing of new deposit markets. Recycling
delivers revenues in line with last year’s second quarter, but the order intake
is impacted by continued macroeconomic and tariff uncertainty which is
postponing customers’ investment decisions. Encouragingly, the market sentiment
in Food is improving. Food delivers solid revenues and a record high EBITA in
the quarter. With a record order intake and an all-time high order backlog, we
see potential for higher growth in Food this year.”

Revenues in TOMRA Group amounted to 325 MEUR in the quarter (2Q24: 333 MEUR), a
decrease of 2% from last year. Collection revenues were down 12% to 169 MEUR
from a strong second quarter last year (2Q24: 193 MEUR). In Recycling, revenues
were 57 MEUR, in line with last year (2Q24: 57 MEUR). In Food, revenues grew 15%
to 94 MEUR (2Q24: 82 MEUR).

The order backlog in Recycling was down 20% to 107 MEUR (2Q24: 133 MEUR) after a
low order intake of 41 MEUR in the quarter (2Q24: 65 MEUR). Macroeconomic and
tariff uncertainty have resulted in the postponement of new orders. In Food, the
order intake was up 28% to a record high 106 MEUR (2Q24: 83 MEUR) as the market
sentiment continued to improve. Large orders were received in all three regions

APAC, EMEA and the Americas - and in a variety of food categories. The Food
order backlog grew 15% to a record high 137 MEUR (2Q24: 119 MEUR). Combined, the
total order intake was 147 MEUR in line with last year (2Q24: 148 MEUR), while
the total order backlog was down 3% to 243 MEUR (2Q24: 252 MEUR).

Gross margin for TOMRA Group was stable at 44% in the quarter (2Q24: 44%). The
Collection gross margin improved to 42% (2Q24: 40%) on business mix effects. Low
volumes and product mix effects in Recycling translated into a gross margin of
46% (2Q24: 53%). The gross margin in Food increased to 46% (2Q24: 45%) as a
result of last year’s cost savings program and high quarterly volumes.

Operating expenses, adjusted for special items, decreased 1% to 100 MEUR in the
quarter (2Q24: 101 MEUR). A positive one-off effect of 3.7 MEUR related to the
Food restructuring program was recognized as special items in the quarter (2Q24:
-0.5 MEUR).

EBITA, adjusted for special items, was 44 MEUR in the quarter, in line with last
year (2Q24: 44 MEUR). The corresponding EBITA margin (adj.) increased to 14%
(2Q24: 13%). Collection’s EBITA margin was in line with last year’s at 16%
(2Q24: 16%). The lower gross margin in Recycling resulted in an EBITA margin of
11% (2Q24: 17%). Higher volumes and lower costs yielded an improved EBITA margin
(adj.) of 18% in Food (2Q24: 10%).

Earnings per share, adjusted for special items, was 0.08 EUR, in line with last
year (2Q24: 0.08 EUR).

Highlights 2nd quarter 2025

(growth figures are from the corresponding period last year)

· Revenues were 325 MEUR (2Q24: 333 MEUR) in TOMRA Group, down 2%
· Revenues were down 12% in Collection, 1% in Recycling, and up 15% in Food
· Gross margin of 44% (2Q24: 44%)
· Operating expenses (adj. for special items) was down 1% to 100 MEUR (2Q24:
101 MEUR)
· Special items gave a positive effect of 3.7 MEUR (2Q24: -0.5 MEUR)
· EBITA (adj. for special items) was 44 MEUR (2Q24: 44 MEUR)
· EPS (adj. for special items) was 0.08 EUR (2Q24: 0.08 EUR)
· Cash flow from operations was 17 MEUR (2Q24: 34 MEUR)
· Recycling order intake down 37% to 41 MEUR (2Q24: 65 MEUR)
and order backlog down 20% to 107 MEUR (2Q24: 133 MEUR)
· Food order intake up 28% to 106 MEUR (2Q24: 83 MEUR)
and order backlog growth of 15% to 137 MEUR (2Q24: 119 MEUR)

Webcast

President & CEO Tove Andersen and CFO Eva Sagemo will present the results today
at 08:00 CEST. The presentation and Q&A session will be sent via live webcast
and will be available on demand shortly after the presentation:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250717_4

Analysts and investors who would like to actively participate in the live Q&A
session must register separately for the TEAMS webinar:

Microsoft Virtual Events Powered by Teams
-41b884eb093c@4308d118-edd1-4300-8a37-cfeba8ad5898

Asker, 17 July 2025

TOMRA Systems ASA

For questions, please contact:

Eva Sagemo, CFO: +47 934 39 911
Daniel Sundahl, VP Head of IR: +47 913 61 899

For media inquiries, please contact:
Mathilde Hellenes, VP Public Relations: +47 456 78 255

TOMRA develops solutions that enable circular economies and optimal resource
productivity through automated identification, collection, grading, and sorting
of resources. We optimize how resources are obtained, used, and reused - turning
waste into valuable resources. Our vision is to lead the resource revolution and
enable a world without waste.

TOMRA has approximately 113,700 installations in over 100 markets worldwide. The
Group had total revenues of EUR 1,348 million in 2024 and employs 5,300 people
globally. TOMRA Systems ASA 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

pleximus83 · juli 30, 2025, 3:07pm

ryker EØS(EU)-Avtalen pga tomflasker…?

TekBot · juli 31, 2025, 11:20am

Rentefastsettelse

TekBot · juli 31, 2025, 11:20am

Rentefastsettelse

TekBot · august 5, 2025, 2:47pm

TOMRA: Acquisition of minority shares in Tomra Collection Australia

TOMRA has today acquired the remaining 20% of Tomra Collection Australia Pty
Ltd, an 80% owned subsidiary within TOMRA Group, in accordance with the put/call
option in the share purchase agreement between TOMRA and the minority owner. The
…

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consideration for the shares amounts to AUD 94 million (approx. EUR 53 million).
The purchase price corresponds to the fair market value of the shares,
determined by an independent expert nominated jointly by the parties. The
acquisition is financed through existing liquidity facilities and is expected to
reduce TOMRA Group’s equity by EUR 11 million.

Asker, 5 August 2025

TOMRA Systems ASA

For further information, please contact:

Daniel Sundahl, Head of Investor Relations
Tel: +47 91 36 18 99

TOMRA develops solutions that enable circular economies and optimal resource
productivity through automated identification, collection, grading, and sorting
of resources. We optimize how resources are obtained, used, and reused - turning
waste into valuable resources. Our vision is to lead the resource revolution and
enable a world without waste.

TOMRA has approximately 113,700 installations in over 100 markets worldwide. The
Group had total revenues of EUR 1,348 million in 2024 and employs 5,300 people
globally. TOMRA Systems ASA 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

Savepig · august 12, 2025, 1:49pm

Retningsløst

TekBot · september 3, 2025, 3:40pm

TOMRA: Lars Enge appointed as EVP of TOMRA Recycling

Lars Enge has been appointed the new EVP of TOMRA Recycling. Lars started his
position as EVP of Group Strategy in March 2022 and has been a vital part of the
leadership since joining. During the past three years he has successfully
…

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established TOMRA Horizon - a portfolio of new ventures within TOMRA including
TOMRA Feedstock and Reuse as well as the acquisition of c-trace.

“We are very pleased that Lars will be leading TOMRA Recycling. Since joining
TOMRA, he has gained a thorough understanding of the recycling market and
demonstrated strong leadership skills as well as a unique ability for building
teams. Coupled with his strategic mindset, passion, and performance-driven
qualities, Lars will be an excellent leader for TOMRA Recycling’s growth
journey,” says TOMRA’s CEO Tove Andersen.

Lars will step into the role with immediate effect. Katrin Fricke, the current
EVP of TOMRA Recycling, will pursue new opportunities outside of TOMRA.

Asker, 3 September 2025

TOMRA Systems ASA

For questions, please contact:
Daniel Sundahl, Head of IR: +47 913 61 899

Kilde

TekBot · september 22, 2025, 11:46am

Rentefastsettelse

TekBot · september 22, 2025, 8:06pm

TOMRA: Acquisition of collection solution provider C&C Consolidated Holdings, LLC’s entire assets

TOMRA has entered into an agreement to acquire all of the assets of C&C
Consolidated Holdings, LLC (“C&C”), which through its subsidiaries is a leading
provider of “bag drop” solutions for collection and processing of beverage
…

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containers in the United States, operating under the CLYNK brand.

Bag drop is a convenient collection method whereby consumers can drop off entire
bags of empty beverage containers at collection points and have their deposit
refunded. It is a well-established and popular complement to reverse vending
machines and redemption centers in North America with strong growth potential.

“We are excited to welcome this new member of the TOMRA family. This acquisition
not only strengthens our position in the North American market but also enhances
our ability to provide innovative and convenient recycling solutions to
consumers. The integration of C&C’s bag drop technology with TOMRA’s existing
infrastructure will create significant synergies and drive additional growth. We
look forward to leveraging C&C’s expertise to further our mission of leading the
resource revolution,” says Marius Fraurud, EVP TOMRA Collection.

Founded in 2006, the acquired group of companies mainly operates in the
northeastern U.S. They supply retail stores with bag drop points and refund
customers their deposit through a digital platform that integrates with the
retailers. Collected bags are transported to material recovery facilities where
containers are counted and validated before refunding the deposit value.
Revenues have grown over 15% annually in the period 2020-2024 and amounted to
approx. 25 MEUR during the last 12 months.

TOMRA will pay a consideration of 45 MUSD (approx. 38 MEUR) for the shares. An
additional consideration of up to 15 MUSD (approx. 13 MEUR) will be contingent
on performance milestones up until the end of 2027 as part of an earn-out
structure. The purchase price represents an expected 2027 EV/EBITA multiple
below 10x. The acquisition will be financed on a debt basis. Closing of the
transaction is expected before the end of the third quarter 2025.

Asker, 22 September 2025

TOMRA Systems ASA

For questions, please contact:
Daniel Sundahl, Head of Investor Relations: +47 913 61 899

For media inquiries, please contact:
Mathilde Hellenes, VP Public Relations: +47 456 78 255

TOMRA develops solutions that enable circular economies and optimal resource
productivity through automated identification, collection, grading, and sorting
of resources. We optimize how resources are obtained, used, and reused - turning
waste into valuable resources. Our vision is to lead the resource revolution and
enable a world without waste.

TOMRA has approximately 113,700 installations in over 100 markets worldwide. The
Group had total revenues of EUR 1,348 million in 2024 and employs 5,300 people
globally. TOMRA Systems ASA is publicly listed on the Oslo Stock Exchange (OSE:
TOM). For further information about TOMRA, please visit www.TOMRA.com

This stock exchange notice contains inside information pursuant to the EU Market
Abuse Regulation and is subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act.

Kilde

TekBot · oktober 1, 2025, 11:52am

Rentefastsettelse

TekBot · oktober 1, 2025, 11:52am

Rentefastsettelse

TekBot · oktober 7, 2025, 2:42pm

TOMRA: Updated Green Financing Framework published

TOMRA has published its updated Green Financing Framework, accompanied by a new
Dark Green Second Party Opinion from S&P Global Ratings. The purpose of the
Green Financing Framework is to align TOMRA’s sustainability ambitions with our
…

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financing. The October 2025 updated framework replaces TOMRA’s previous Green
Bond Framework dated October 2022.

Financing under the framework supports TOMRA’s sustainability strategy to
maximize the positive impact of our products and solutions on the environment
and society - our handprint - and minimize any negative sustainability effects
resulting from our activities - our footprint.

The use of proceeds covers three main categories:

Circular economy adapted products, production technologies and processes

Renewable energy

Clean transportation

S&P Global Ratings has provided the “Second Party Opinion” and confirms that the
framework is in line with the International Capital Market Association’s Green
Bond Principles from June 2025 and the Loan Market Association’s Green Loan
Principles from March 2025. The Framework received a “Dark Green” shading, the
highest possible rating, reaffirming TOMRA’s commitment to high environmental
standards in its green financing initiatives.

The Framework has been developed in collaboration with Nordea.

Asker, 7 October 2025

TOMRA Systems ASA

For further information, please contact:

Daniel Sundahl, Head of Investor Relations
Tel: +47 91 36 18 99

TOMRA develops solutions that enable circular economies and optimal resource
productivity through automated identification, collection, grading, and sorting
of resources. We optimize how resources are obtained, used, and reused - turning
waste into valuable resources. Our vision is to lead the resource revolution and
enable a world without waste.

TOMRA has approximately 113,700 installations in over 100 markets worldwide. The
Group had total revenues of EUR 1,348 million in 2024 and employs 5,300 people
globally. TOMRA Systems ASA is publicly listed on the Oslo Stock Exchange (OSE:
TOM). For further information about TOMRA, please visit www.TOMRA.com

Kilde

TekBot · oktober 10, 2025, 8:31am

TOMRA: Invitation to 3Q 2025 Presentation

TOMRA’s third quarter 2025 results will be released on Friday, 17 October 2025.

President & CEO Tove Andersen and CFO Eva Sagemo will present the results at
…

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08:00 CEST.

The presentation will be sent via
live webcast (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20251017_1
).

Analysts and investors who would like to ask questions in the live Q&A session
must register seperately for the TEAMS
webinar (Microsoft Virtual Events Powered by Teams
-678ae0b1a4f0@4308d118-edd1-4300-8a37-cfeba8ad5898).

A recorded version of the webcast will be available shortly after the webcast
has concluded.

All written materials including the interim report, presentation and spreadsheet
with key figures will be available at 07:00 CEST
on TOMRA.com (https://www.tomra.com/investor-relations).

Asker, 10 October 2025

TOMRA Systems ASA

For further information, please contact:

Daniel Sundahl, Head of Investor Relations
Tel: +47 91 36 18 99

TOMRA develops solutions that enable circular economies and optimal resource
productivity through automated identification, collection, grading, and sorting
of resources. We optimize how resources are obtained, used, and reused - turning
waste into valuable resources. Our vision is to lead the resource revolution and
enable a world without waste.

TOMRA has approximately 113,700 installations in over 100 markets worldwide. The
Group had total revenues of EUR 1,348 million in 2024 and employs 5,300 people
globally. TOMRA Systems ASA is publicly listed on the Oslo Stock Exchange (OSE:
TOM). For further information about TOMRA, please visit www.TOMRA.com

Kilde

TekBot · oktober 16, 2025, 10:16am

TOMRA: Large RVM order received from retail chain in Poland

TOMRA has today received an order for 3,000 reverse vending machines (RVMs) to
be supplied to Dino Polska, a leading Polish retail chain. The RVMs will be
provided on a sales and service basis. Installation of the RVMs is planned to
…

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start in the coming weeks and continue in first half of 2026.

On 1 October 2025, Poland launched its deposit return system, allowing consumers
to redeem a deposit when they return single-use plastic bottles of up to 3
liters, reusable glass bottles of up to 1.5 liters and metal cans of up to 1
liter.

Across Poland, retailers are preparing their stores to ensure easy and
convenient return of drink containers for their customers. TOMRA Collection
Poland is currently supporting retailers in finding the right solution for their
needs, ranging from standalone RVMs for lower volumes to high volume solutions.

Dino Polska has chosen the TOMRA S2 for its stores across the country. It is the
newest model in TOMRA’s portfolio, designed specifically for the needs of the
Polish market and built for outdoor installation.

Asker, 16 October 2025

TOMRA Systems ASA

For further information, please contact:

Daniel Sundahl, Head of Investor Relations
Tel: +47 91 36 18 99

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (EU) No 596/2014 and is subject to the disclosure
requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

Savepig · oktober 16, 2025, 11:41am

Hysterisk utvikling i Tomra i dag.

Først Fra Arctic:

TOMRA: ARCTIC SECURITIES OVERRASKET OVER PANTESITUASJONEN I POLEN

Nordnet

i dag kl. 09:37 ∙ TDN Finans

Oslo (Infront TDN Direkt): Arctic Securities nedgraderer anbefalingen på Tomra til hold fra kjøp, og senker kursmålet til 130 kroner fra 170 kroner.

Det fremgår av en analyse torsdag.

Arctic Securities er skeptisk til utrullingstakten av pantesystemer (DRS) i Polen etter å ha besøkt flere polske detaljhandlere. Meglerhuset skyver ut polsk implementering med to kvartaler og nedjusterer Tomras estimerte markedsandel til 50 fra 60 prosent, og ligger nå 25 prosent under konsensus på ebita i tredje kvartal og 6-3 prosent under 2025-2026.

<<I går dro vi til Warszawa i Polen, hvor vi besøkte rundt 25 butikker for å vurdere konkurransesituasjonen og hvor forberedt detaljhandelen er på det kommende pantesystemet (DRS). Funnene var overraskende: Blant butikkene vi besøkte, fant vi bare to panteautomater – én som var ute av drift og én som ennå ikke var satt i gang. Begge maskinene var levert av den svenske konkurrenten RVM Systems>>, skriver meglerhuset.

Ifølge Arctic er det også lite bevissthet rundt det kommende pantesystemet og mange detaljhandlerne vet ikke hva en pantemaskin er.

<<Selv om vi ville solgt i dag på grunn av høy risikovurdering før morgendagens tredjekvartalsrapport, nedgraderer vi kun til hold ettersom vi ser et potensielt attraktivt inngangsnivå, med usikkerheter som muligens vil bli adressert på morgendagens resultatrapport mens vi ser mulighet for at Recycling nærmer seg et bunnpunkt>>, skriver meglerhuset.

Og så noen timer senere børsmelding om stor ordre i polen

TekBot · oktober 17, 2025, 5:00am

TOMRA: Muted quarter due to phasing of new Collection markets and continued weak market in Recycling

TOMRA, the global technology leader in sensor-based solutions for optimal
resource productivity, announces its financial results for the third quarter
2025.
…

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Tove Andersen, President and CEO of TOMRA Systems ASA comments:

“It’s really exciting days in TOMRA. Results are muted in the quarter, largely
due to a weak market sentiment that continues in Recycling, but Collection and
Food deliver a solid quarter. We congratulate Poland on having launched their
deposit return system on 1 October, which will be the second biggest deposit
market to date. We have seen high commercial activity in the market for some
time and now we are moving into a phase where a large number of machines are to
be installed in the coming months. We look forward to supporting Poland realize
its recycling ambitions, and to the launch of more markets - such as Portugal -
next year.”

Revenues in TOMRA Group amounted to 306 MEUR in the quarter (3Q24: 326 MEUR), a
decrease of 6% from last year. Collection revenues were down 5% to 179 MEUR from
a strong third quarter last year (3Q24: 189 MEUR). In Recycling, revenues were
40 MEUR (3Q24: 59 MEUR) which is 3 MEUR lower than estimated by the conversion
ratio for the quarter. In Food, revenues were down 2% to 76 MEUR (3Q24: 78
MEUR), marginally higher than estimated by the conversion ratio.

The order intake in Recycling was 42 MEUR in the quarter (3Q24: 61 MEUR), in
line with the order intake in the second quarter. Low customer investment
sentiment continued in North America and Europe within plastics and waste
sorting. The Recycling order backlog ended at 109 MEUR (3Q24: 134 MEUR). In
Food, the order intake was up 6% to 77 MEUR (3Q24: 73 MEUR). The Food order
backlog grew 21% to a record high 138 MEUR (3Q24: 114 MEUR) with many large
orders to be delivered in 2026.

Gross margin for TOMRA Group increased to 44% in the quarter (3Q24: 43%). The
Collection gross margin improved to 42% (3Q24: 41%) on business mix effects. Low
volumes and product mix effects in Recycling, where a higher-than-normal share
of sales were into the metals recycling segment, led to a gross margin of 44%
(3Q24: 51%). The gross margin in Food increased to 45% (3Q24: 43%), enabled by
last year’s cost savings.

Operating expenses, adjusted for special items, increased to 104 MEUR in the
quarter (3Q24: 97 MEUR) due to the inclusion of c-trace, ramp up of Feedstock
operations, and transaction costs related to the acquisition of CLYNK.

EBITA, adjusted for special items, was 30 MEUR in the quarter (3Q24: 44 MEUR)
with a corresponding EBITA margin (adj.) of 10% (3Q24: 13%). Collection’s EBITA
margin was 16% (3Q24: 18%), while low volumes and product mix effects in
Recycling resulted in a negative EBITA margin in the quarter (3Q24: 17%). In
Food, the EBITA margin (adj.) increased to 10% (3Q24: 8%), in line with the
targeted EBITA margin this year.

Earnings per share, adjusted for special items, were 0.05 EUR (3Q24: 0.07 EUR).

Highlights 3rd quarter 2025

(comparison figures are from the corresponding period last year)

· Revenues were 306 MEUR (3Q24: 326 MEUR) in TOMRA Group, down 6%
· Revenues were down 5% in Collection, 32% in Recycling, and 2% in Food
· Gross margin of 44% (3Q24: 43%)
· Operating expenses (adj. for special items) was 104 MEUR (3Q24: 97 MEUR)
· No special items in the quarter (3Q24: -0.5 MEUR)
· EBITA (adj. for special items) was 30 MEUR (3Q24: 44 MEUR)
· EPS (adj. for special items) was 0.05 EUR (3Q24: 0.07 EUR)
· Cash flow from operations was 64 MEUR (3Q24: 99 MEUR)
· Recycling order intake down 30% to 42 MEUR (3Q24: 61 MEUR)
and order backlog down 19% to 109 MEUR (3Q24: 134 MEUR)
· Food order intake up 6% to 77 MEUR (3Q24: 73 MEUR)
and order backlog growth of 21% to 138 MEUR (3Q24: 114 MEUR)

Webcast

President & CEO Tove Andersen and CFO Eva Sagemo will present the results today
at 08:00 CEST. The presentation and Q&A session will be sent via live webcast
and will be available on demand shortly after the presentation:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20251017_1

Analysts and investors who would like to actively participate in the live Q&A
session must register separately for the TEAMS webinar:

Microsoft Virtual Events Powered by Teams
-678ae0b1a4f0@4308d118-edd1-4300-8a37-cfeba8ad5898

Asker, 17 October 2025

TOMRA Systems ASA

For questions, please contact:

Eva Sagemo, CFO: +47 934 39 911
Daniel Sundahl, VP Head of IR: +47 913 61 899

For media inquiries, please contact:

Mathilde Hellenes, VP Public Relations: +47 456 78 255

TOMRA develops solutions that enable circular economies and optimal resource
productivity through automated identification, collection, grading, and sorting
of resources. We optimize how resources are obtained, used, and reused - turning
waste into valuable resources. Our vision is to lead the resource revolution and
enable a world without waste.

TOMRA has approximately 113,700 installations in over 100 markets worldwide. The
Group had total revenues of EUR 1,348 million in 2024 and employs 5,300 people
globally. TOMRA Systems ASA 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

E24Bot · oktober 17, 2025, 5:19am

Resultatfall for Tomra – tjente 23 millioner euro før skatt

Savepig · oktober 20, 2025, 7:39am

Oppdatert the monday after Q3geddon:

Enorm washout på fredag, veldig sjelden det er i nærheten av så høyt volum engang:

Oslo (Infront TDN Direkt): ABG Sundal Collier, Arctic Securities og Nordea Markets oppgraderer alle anbefaling på Tomra til kjøp fra hold. Danske Bank gjentar sin kjøpsanbefaling, mens DNB Carnegie gjentar selg.

Det fremgår av analyser fra meglerhusene fredag og mandag.

Innen Recycling-segmentet sa Tomra-ledelsen på kvartalspresentasjonen fredag at de ser “betydelige utfordringer” og forventer at markedet vil forbli tøft inn i 2026 – noe som tyder på begrenset vekst, og dermed et lavt ebita-bidrag, skriver ABG Sundal Collier. Meglerhuset anslår nå en ebita-margin i Recycling på 11 prosent på 2025-estimatene.

“Selv om dette er uheldig og har stor innvirkning på estimatene for 2025-2026, ser vi ikke det som et strukturelt skifte, og forventer at kostnadskutt vil redusere og bringe marginen opp igjen”, skriver ABG, som bemerker at selv om usikkerheten på kort sikt har økt, ser meglerhuset fortsatt på Tomra som et høykvalitetsselskap som nå handles til et rimelig nivå.

Arctic Securities nedjusterer også sine Recycling-estimater etter tredjekvartalsrapporten, ettersom meglerhuset sliter med å identifisere kortsiktige katalysatorer som vil akselerere veksten i segmentet. Arctic gjør mindre estimatjusteringer innen Collection-segmentet, men senker sine markedsandelantakelser i kommende europeiske markeder til 50 prosent fra 60 prosent.

“Selv om konkurransen virker å intensiveres, begynner verdsettelsen å se veldig attraktiv ut, med en stor andel av gjentakende omsetning fra eksisterende markeder og begrenset implisitt verdi fra nye Collection-markeder. Hvis vi ser bort fra verdien av nye Collection-markeder, antyder vårt sum-of-the-parts-kursmål en virkelig verdi på 112 kroner pr aksje, noe som indikerer at markedet for øyeblikket tillegger liten verdi til vekst fra nye markeder”, skriver Arctic.

DNB Carnegie, som gjentar en salgsanbefaling og nedjusterer kursmålet til 110 kroner fra 130 kroner, kutter sine resultat pr aksje (EPS)-estimater for 2026-2027 med rundt 20 prosent.

Meglerhuset var allerede 25 prosent under Infront-konsensus for EPS på 2027-estimatene før tredjekvartalsrapporten, og mener derfor at markedsforventningene til Recycling fortsatt er for høye.

Oversikt over meglerhusenes anbefalinger og kursmål: 

MEGLERHUS             ANBEFALING      KURSMÅL 

ABG Sundal Collier    Kjøp (hold)         150  

Arctic Securities     Kjøp (hold)    150 (130)

Clarksons Securities  Kjøp           150 (175) 

Danske Bank           Kjøp           155 (170) 

DNB Carnegie          Selg           110 (130) 

Nordea Markets        Kjøp (hold)         145 

Kepler                Kjøp           151 (161)

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TekBot · oktober 21, 2025, 7:00am

TOMRA: Contemplating NOK senior unsecured green bond issuance

TOMRA Systems ASA, rated A-/Stable by Scope, has mandated Danske Bank and Nordea
as Joint Bookrunners to arrange a digital investor presentation on Tuesday
October 21, 2025, at 13:00 CEST.
…

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Subject to market conditions, one or more NOK-denominated senior unsecured green
bond issues with a floating and/or fixed coupon, expected tenor(s) of 3 and/or 7
-10 years, and an expected total size of NOK 750 million may follow.

An amount equal to the net proceeds of the contemplated bond issue will be
applied to finance and refinance eligible projects as further defined by the
Green Financing Framework. Nordea acted as Sole Green Structuring Advisor for
the company’s new green financing framework.

Asker, 21 October 2025

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

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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