2nd quarter 2000
* Revenues of 659 MNOK (up 10%)
- Europe 229 MNOK (down 26%)
Europe excl. Norway (up 13%)
- America 430 MNOK (up 46%)
* Profit before tax of 112 MNOK (up 4%)
* The sale of TOMRAs 50% interest in Wise Recycling LLC has been delayed. The USD 1.5 million gain was not recognized in 2nd quarter
* The Danish brewers association announced start-up of Dansk Retursystem July 1, 2000
* New contracts in Massachusetts
FINANCIALS
In terms of growth, the second quarter 2000 was expected to be weak compared to the strong performance in Norway last year. Revenues in the second quarter 2000 amounted to 659 MNOK, up 10% from 600 MNOK in 1999. The operating profit showed an increase of 8% to 115 MNOK with an operating margin of 17.4%. Profit before tax increased from 107 MNOK to 112 MNOK.
Sales for the first half-year was 1 242 MNOK against
1 036 MNOK in 1999 (up 20%), while the operating profit increased from 177 MNOK to 204 MNOK (up 15%).
Earnings per share increased by 13% to NOK 1.60 for the first half-year. Total assets have increased by 17% since the beginning of the year to 2 749 MNOK. The liquidity remains good and the equity ratio is 65%.
For full report including tables, follow the enclosed link.
<br>Asker, 13 July 2000 <br>The Board of Directors <br>TOMRA SYSTEMS ASA <br> <br>Jan Chr. Opsahl <br>Chairman <br> <br>Erik Thorsen <br>President & CEO <br> <br> <br>