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TOMRA:  FIRST QUARTER 2015 RESULTS ANNOUNCEMENT

Strong performance in both business areas
All time high order intake of 573 MNOK in TOMRA Sorting Solutions, compared to 488 MNOK same period last year. All time high order backlog of 822 MNOK in TOMRA Sorting Solutions, up from 657 MNOK at the end of fourth quarter 2014.

Revenues of 1,107 MNOK (1,022 MNOK in first quarter 2014).

Currency adjusted revenues were down 2% for TOMRA Group, down 1% in TOMRA Collection Solutions and down 4% in TOMRA Sorting Solutions.

Gross margin 43%, unchanged from first quarter 2014 (currency adjusted). Stable margins in both business areas.

Operating expenses of 369 MNOK (338 MNOK in first quarter 2014). Up 3% adjusted for currency and one-time costs in 2014.

EBITA of 104 MNOK (107 MNOK in first quarter 2014).

Cash flow from operations of 50 MNOK (12 MNOK in first quarter 2014).

Dividend of NOK 1.45 per share approved by the Annual General Assembly.

TOMRA Collection Solutions
The business area reported an increase in revenue of 10% in first quarter 2015, compared to same period last year. After adjustment for currency changes, revenues were down 1%.  

Gross margin decreased from 43% to 42%, negatively influenced by more lower-margin USD nominated revenues (Material Recovery). Currency adjusted gross margin was stable.

Operating expenses were up 3%, after adjusting for currency. EBITA was 108 MNOK, down from 111 MNOK last year.

TOMRA Sorting Solutions
Revenues increased from 389 MNOK in first quarter 2014 to 408 MNOK in first quarter 2015. Adjusted for currency effects, revenues were down 4%.

Gross margin was stable at 45%. Operating expenses increased in the same period from 171 MNOK to 178 MNOK, adjusted for currency and one-time costs, operating expenses were up 3%.

EBITA increased from 3 MNOK in first quarter 2014 to 4 MNOK in first quarter 2015.

“With an all-time high order backlog in Tomra Sorting and a good momentum in Tomra Collection Solutions due to German replacement opportunities, management is optimistic when it comes to the outlook for the rest of 2015” comments Stefan Ranstrand (President and CEO).

Asker, 24 April 2015

TOMRA Systems ASA

For questions, please contact:

Deputy CEO/CFO Espen Gundersen: +47 66 79 92 42 / +47 97 68 73 01

Webcast link:  http://presenter.qbrick.com/?pguid=d0df7412-3baf-4c66-99ce-ff1d0e0deadb

We will open up for Q&A after the presentation and the recorded webcast will be made available on our webpage www.tomra.com after broadcast is concluded.