- Revenues of 675 MNOK (+2% percent relative to
fourth quarter 2004, +6% after adjusting for
currency effects and acquisitions/disposals)
- Operating profit of 93 MNOK before
restructuring charges (70 MNOK in fourth quarter
- Operating profit of 79 MNOK after 14 MNOK in
restructuring charges (58 MNOK in fourth quarter
- Cash flow from operations of 131 MNOK
Revenues in RVM Technology equaled 356 MNOK in
the fourth quarter 2005 versus 328 MNOK in 2004 -
an increase of 9 percent. Strong performance in
Germany, Holland and the US was the main reason
for the increase.
TOMRA has received several orders from Germany
related to the introduction of nationwide deposit
system for non-refillable beverage containers on
1 May 2006. During the fourth quarter of 2005
TOMRA received orders for approximately 4000 RVMs
from Aldi Süd, Marktkauf, Metro and Edeka. On 11
January 2006, a large German retailer placed a
single order for 4000 RVMs with TOMRA. The
company`s current order book from Germany
therefore comprises almost 8000 mahcines that
will be delivered during 2006, primarily in
second and third quarter.
Collection & Materials Handling
Revenues in the fourth quarter 2005 increased by
2 percent to 30.3 MUSD. Measured in NOK revenues
increased by 6 percent to 201 MNOK. The
collection business in California experienced a
revenue increase of 12 percent to 14.5 MUSD in
the fourth quarter due to higher volume and
commodity pricing. Measured in NOK revenues
increased 17 percent to 96 MNOK in the quarter.
Number of containers collected grew by 15 percent
over the prior year and the total number of
collection sites grew by 10 percent to 433.
TiTech and Orwak Group demonstrated solid
performance in the fourth quarter of 2005.
Revenues equaled 117 MNOK and the operating
profit margin was 16% even after restructuring
charges of 2 MNOK.
TOMRA anticipates substantially improved results
in the first quarter of 2006 versus the previous
year based on an order backlog of 70 MNOK
entering 2006 versus 35 MNOK entering 2005.
Other non-deposit activities
TOMRA now has approximately 90 machines installed
in Japan, but a closer cooperation with Sumitomo
Corporation is required in order to accelerate
the placement of machines. TOMRA will continue
the positive dialogues with wards in Tokyo for
deliveries in 2006 and aims at creating a joint
business model together with Sumitomo during the
first half of 2006.
In the fourth quarter of 2005, TOMRA installed
the sixth and final recycling center with TESCO
in the UK. The pilot program with TESCO is
scheduled to run through the first quarter of
2006. So far feedback from consumers and TESCO
has been positive, and TOMRA is currently
discussing an expansion of the program with
TESCO. A conclusion is expected in the first
quarter of 2006.