2nd Quarter 1999
- Revenues of 684 MNOK (up 67%).
- Profit before tax of 120 MNOK (up 78%).
- Can deposit in Norway, 1 390 machines
installed during the first 6 months of 1999.
- Sale of 22% ownership interest in Tomra
New York Recycling, gain of 1.6 MUSD.
Revenues in the second quarter 1999 amounted to 684 MNOK, up 67% from 411 MNOK in 1998. The operating profit showed an increase of 46% to 110 MNOK with an operating margin of 16.1%. Profit before tax increased from 67 MNOK to 120 MNOK. Net financial income of 5.8 MNOK included 12.1 MNOK of gains from selling back 22% ownership interest in Tomra New York Recycling to beverage distributors.
Sales for the first half-year was 1 188 MNOK against 743 MNOK in 1998 (up 60%), while the operating profit increased from 127 MNOK to 189 MNOK (up 49%).
Earnings per share increased by 66% to NOK 3.19 for the first half-year. Total assets have increased by 15% since the beginning of the year to 2 107 MNOK. The liquidity remains good and the equity ratio stands at 67.7%.
For full report including tables, follow the enclosed link.
Asker, 15 July 1999 <br> <br>The Board of Directors <br>TOMRA SYSTEMS ASA <br> <br>Jan Chr. Opsahl <br>Chairman <br> <br>Erik Thorsen <br>President & CEO <br> <br> <br>