TOMRA: Continued Good Performance
Currency adjusted revenues was up 19% in the quarter compared to same period last year. Revenues amounted to 1,564 MNOK compared to 1,360 MNOK in first quarter last year. Organic, currency adjusted revenues were up 5% in TOMRA Collection Solutions and up 8% in TOMRA Sorting Solutions. Gross margin was 40% in the quarter, down from 42% same period last year, with slightly lower margins in both business areas. The lower margin in Sorting Solutions is explained by inclusion of Compac. Operating expenses increased from 421 MNOK in first quarter 2016 to 475 MNOK in first quarter 2017,