TOMRA: Strong quarter fueled by high business activity in Sorting
TOMRA Systems ASA delivered strong results in the third quarter 2018, on the back of healthy growth in Tomra Collection Solutions and high business activity in Tomra Sorting Solutions.
Revenues in the third quarter 2018 ended at 2,247 MNOK, up 21% from 1,855 MNOK in third quarter last year. Organic, currency adjusted revenues were up 14% for the group, 9% for Tomra Collection Solutions and 20% for Tomra Sorting Solutions.
Gross margin was 44% in the quarter, a slight increase from 43% in third quarter 2017, reflecting stable margins in Tomra Collection Solutions and improved margins