TOMRA - Summary of 1st quarter 2002
Revenue from continuing operations 630 MNOK (+14%)
- Europe 224 MNOK (+17%)
- North America (continuing) 309 MNOK (-6%)
- South America 97 MNOK (213%)
Profit before tax 81 MNOK (-24%)
Court case decision in Germany in February. The government announced deposit on non-refillable containers as of 1 January 2003. New court cases filed in the Constitutional Court in Karlsruhe and in the Administrative Courts in all sixteen Bundesländer. According to statements made by the German Ministry of Environment, the court cases will not have suspensive effects on the implementation of deposit. TOMRA has decided to maintain its expanded capacity tied to the German deposit start-up.The preparedness measures will cost approximately 12 MNOK in the second quarter 2002.
Denmark
The Danish government announced on 23 January 2002 that it would open the market for non-refillable containers for carbonated drinks with immediate effext. The start-up of automated handling of non-refillable containers through RVMs will be 1 June 2002. In the first quarter TOMRA installed and upgraded approximately 550 machines in Danish supermarkets. TOMRA is well positioned in the market and expects an even higher activity level in Denmark in the second quarter.
Sweden
Revenue in Sweden in the first quarter increased by 44%, driven by replacement of machines. The replacement of existing machines is expected to continue to drive revenue growth in Sweden in 2002.
Californian restructuring has developed according to plan
The operating performance stabilized in California during the first quarter. TOMRA anticipates to reach break-even during second quarter 2002.
South America
Revenues in South America during the first quarter 2002 amounted to 97 MNOK compared to 33 MNOK in March 2001. The continued strengthening of the Brazilian currency, Real, has negatively impacted profitability in the first quarter.
Japan
Seiyu, Japan's fifth largest retailer, has planned to use automated collection in their supermarket outlets. Two automated collection centers were opened at the Seiyu Mizuho Mall outside Tokyo on 12 March 2002 to collect PET containers, cans and other packaging materials. Additional center openings are planned at Seiyu stores. TOMRA will further build on this strategy by securing other key Japanese retailer commitments to this concept.
Presentation 1th Quarter 2002
Presentation 1th Quarter 2002
Report 1th Quarter 2002: