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Result for fourth quarter 2000

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HIGHLIGHTS

  • Operating revenues of 2,718 MNOK (up 25%)
    • Europe 895 MNOK (down 6%)
    • America 1,823 MNOK (up 50%)

  • Ordinary profit before tax of 493 MNOK (up 21%)
  • Losses reserve related to Wise of 383 MNOK
  • New deposit system in progress in Germany
  • Frame contract with FDB in Denmark
  • The Netherlands evaluates deposit introduction
  • Signed Letter of Intent to acquire a 70% ownership in Brazilian aluminum collection and recycling company



Tomra signed a preferred supplier agreement with the Danish retail group FDB on February 7th 2001. The frame contract has a targeted sales value for TOMRA of DKK 120 millions up to the end of 2002.

Dutch authorities is prepared to introduce mandatory deposit for non-refillable containers on short notice, if the retail and bottling industry do not come up with an acceptable alternative solution.

German government announced on January 31, 2001, the decision to propose new legislation to introduce deposit for non-refillable containers. Tomra is currently preparing to supply significant number of machines from third quarter 2001 to the German market, by expanding own production capacity and utilizing outside partners.

To avoid further financial exposure against the Wise Metals Group, TOMRA stopped supplies of aluminum as of January 26, 2001. TOMRA and WMG are discussing appropriate payment arrangements to eliminate financial exposure related to future supplies.

TOMRA signed November 20, 2000 a Letter of Intent with publicly traded Brazilian Company, LATASA, to establish a strategic alliance. LATASA is the largest Latin American can manufacturer and operates the most successful aluminum container collection system in Brazil, Argentina and Chile. A final agreement is expected during first quarter 2001.

For the 4th Quarter 2000 report please follow the link below:

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