TOMRA: 1Q 2020 - On solid ground to navigate through the turmoil
Revenues in the first quarter 2020 amounted to 2,302 MNOK, up 11% from 2,081 MNOK in first quarter last year. Organic, currency adjusted revenues were up 3% for the group, 5% for TOMRA Collection Solutions and 1% for TOMRA Sorting Solutions. Gross margin was slightly up from 42.0% to 42.3 %, reflecting stable margins in TOMRA Collection Solutions and improved margins in TOMRA Sorting Solutions. Operating expenses totaled 745 MNOK in the quarter, an increase from 667 MNOK in first quarter last year due to ramp-up in TOMRA Collection Solutions and Circular Economy and currency effects.