TOMRA: 4Q 2019 results - Good development backed by solid growth drivers
TOMRA ended the year 2019 with solid cash generation and strong performance in both business areas. Growth in Australia continued for TOMRA Collection Solutions and TOMRA Sorting Solutions had yet another quarter with record high order intake. Revenues in the fourth quarter 2019 amounted to 2,569 MNOK, up from 2,467 MNOK in fourth quarter last year, representing a growth of 4%. Gross margin was 43% in the quarter, slightly up from fourth quarter 2018, due to improved margins for both TOMRA Collection Solutions and TOMRA Sorting Solutions. Operating expenses totaled 700 MNOK in the