TOMRA: Initiating EUR 30 million cost reduction program in TOMRA Food division
In 2022, TOMRA launched a new set of financial ambitions for the coming five-year period. This includes an average annual growth rate of 15% and achieving an EBITA margin of 18% by 2027. TOMRA Food's ambition is to contribute to the Group's targets with high single-digit growth at double-digit EBITA margin. Growth prospects for automated food grading and sorting remain attractive in the medium and long term. However, both growth and profitability have been below target in 2023 as customers have been faced with a combination of challenges including difficult macroeconomic conditions and