TOMRA: 2Q 2020 - A resilient quarter amid the pandemic
The second quarter 2020 was solid despite significant COVID-19 complexities. Our customers’ resiliency and TOMRA’s diverse footprint have been balancing factors in navigating the turmoil.Revenues in the second quarter 2020 amounted to 2,319 MNOK compared to 2,318 MNOK in second quarter last year. Currency adjusted revenues were down 13% in TOMRA Collection Solutions and 8% in TOMRA Sorting Solutions. Gross margin was 43% in the quarter, down from 45% in second quarter 2019, primarily the result of volume shortfall in TOMRA Collection Solutions. Operating expenses was 707 MNOK in