Fourth Quarter 2009 Results

Solid performance in Collection Technology.
Continued improved performance and order inflow in Industrial Processing Technology.
California adversely affected by reduced handling fees.
Non Deposit break even by end of 2009.
Restructuring charges and other one-time costs of 95 MNOK.
Revenues of 893 MNOK (1076 MNOK in fourth quarter 2008). Down 8% after adjustment for currency change.
Operating expenses of 196 MNOK before restructuring and one-time charges (244 MNOK in fourth quarter 2008). Down 15% after adjustment for currency.
Operating profit of 124 MNOK before restructuring and one-time charges (136 MNOK in fourth quarter 2008), flat after adjustment for currency.
Strong cashflow from operations of 235 MNOK (255 MNOK in fourth quarter 2008).

Collection Technology - Deposit Solutions
Revenues in the segment were 508 MNOK in the fourth quarter, down from 553 MNOK in fourth quarter 2008. After adjustment for currency change, revenues were flat. Gross margin decreased from 42% in fourth quarter 2008 to 38% in fourth quarter 2009.
Excluding the 19 MNOK write-down of machine parts in US, margins were stable.

Past restructuring efforts continued to pay off, with 18% reduction in operating expenses compared to fourth quarter 2008.

Materials Handling
Revenues in the business area were 177 MNOK in fourth quarter 2009, down from 310 MNOK last year. In USD, revenues were down 32%. Gross margin was 3%, down from 13% in fourth quarter 2008. The decrease was a result of lower volumes in both regions, and lower handling fees in California.

Industrial Processing Technology
Revenues in the quarter decreased to 199 MNOK from 213 MNOK last year. Revenues were slightly down in all three units within the segment. But compared to the first three quarters of 2009, fourth quarter 2009 was strong, with revenues 69% above the average of the previous three quarters.

Order intake improved during the quarter and the order book was 130 MNOK at the end of fourth quarter 2009, up from 102 MNOK at the end of fourth quarter 2008.


Asker, 19 February 2010
Tomra Systems ASA


Attached please find the report and presentation for 4th quarter 2009. A live broadcast of the presentation is available on www.tomra.com (investor relation page). A record of the broadcast will be available as soon as the live broadcast has ended.