Revenues of 874 MNOK (887 MNOK in second quarter 2007).

Organic revenue growth of 7% in second quarter 2008 compared to second quarter 2007 (disregarding currency effects).

Gross margin 40% (37% in second quarter 2007).

Operating profit of 122 MNOK (111 MNOK in second quarter 2007).

Operating profit growth of 20% in second quarter 2008 compared to second quarter 2007 (disregarding currency effects).

Cash flow from operations of minus 8 MNOK (99 MNOK in second quarter 2007).

Continued strong growth and performance in Industrial Processing Technology.

 

Revenues in the segment equaled 409 MNOK in the second quarter, down from 430 MNOK second quarter last year. Adjusted for currency change, revenues were flat. Gross margin improvement continued and was 47%, up from 44% in second quarter last year. Operating profit decreased from 86 MNOK in second quarter 2007 to 81 MNOK in second quarter 2008.

 

After a weak first quarter, the business area returned to normal performance in the second quarter 2008. Revenues in the segment equaled 227 MNOK in the second quarter, down from 275 MNOK second quarter last year. Adjusted for currency change, revenues were down two percentage points. Gross margin was stable at 21%. Operating profit decreased from 26 MNOK in second quarter 2007 to 21 MNOK second quarter this year. 3 MNOK of this decline is currency related.

 

Second quarter 2008 showed a year on year revenue growth of 23%. Revenue growth was driven by solid performance in all companies. Operating profit was 38 MNOK in second quarter 2008, up from 32 MNOK in second quarter 2007.

 

Revenues in the second quarter amounted to 34 MNOK, mainly from the sale of 16 ARCs to Waste Management Inc. Through continued efforts to optimize technology and cost, the business area showed a gross margin of 26% compared with negative margins in 2007. Operating expenses were 23 MNOK, as a result of continued significant investments in non-deposit opportunities.

 

Asker, 16 July 2008

Tomra Systems ASA

 

 

Attached please find the report and presentation for 2nd quarter 2008. A live broadcast of the presentation is available on www.tomra.com (investor relation page) and on www.oslobors.no/webcast. A record of the broadcast will be available as soon as the live broadcast has ended.