TOMRA: SECOND QUARTER 2015 RESULTS ANNOUNCEMENT

Strong performance in both business areas
All time high order intake of 646 MNOK in TOMRA Sorting, up from 502 MNOK same period last year.
All time high order backlog of 851 MNOK in TOMRA Sorting, up from 822 MNOK at the end of first quarter 2015.

Revenues of 1,472 MNOK (1,139 MNOK in second quarter 2014). Currency adjusted revenues were:
- Up 16% for TOMRA Group
- Up 13% in TOMRA Collection
- Up 22% in TOMRA Sorting

Gross margin 42%, down from 43% in second quarter 2014
- Slightly down in TOMRA Collection
- Slightly up in TOMRA Sorting 

EBITA of 240 MNOK (158 MNOK in second quarter 2014)
- Including 13 MNOK one-time cost in 2014 

Cash flow from operations of 137 MNOK (136 MNOK in second quarter 2014)

TOMRA Collection Solutions
Revenues in the business area equaled 855 MNOK in the second quarter, up from 678 MNOK in second quarter last year. After adjustment for currency changes, revenues were up 13%.  

Gross margin was 41%, down from 42% same period last year, negatively influenced by more lower-margin USD nominated revenues (Material recovery). Currency adjusted gross margin was stable.

Operating expenses were up 6%, currency adjusted. EBITA was MNOK 164, up from 131 MNOK, due to higher revenues and positive currency impact.

TOMRA Sorting Solutions
Revenues in the quarter increased by 34% compared to same quarter in 2014. Adjusted for currency effects, revenues were up 22%. 

Gross margin increased from 44% in second quarter 2014 to 45% in second quarter 2015, mainly due to higher volumes.

EBITA increased from 34 MNOK in second quarter 2014 to 84 MNOK in second quarter 2015, driven by higher volumes, better gross margin and positive currency effects.

“A strong quarter with all time high order intake in TOMRA Sorting and good momentum TOMRA Collection Germany” comments Stefan Ranstrand, President/CEO.

Asker, 17 July 2015

TOMRA SYSTEMS ASA

For questions, please contact:

Deputy CEO/CFO Espen Gundersen: +47 66 79 92 42 / +47 97 68 73 01

Webcast link:
http://presenter.qbrick.com/?pguid=2a31aafb-db41-452b-8c8f-b87573666d88

We will open up for Q&A after the presentation and the recorded webcast will be made available on our webpage www.tomra.com after broadcast is concluded.

TOMRA was founded on an innovation in 1972 that began with design, manufacturing and sale of reverse vending machines (RVMs) for automated collection of used beverage containers. Today TOMRA has ~85,000 installations in over 80 markets worldwide and had total revenues of ~4.7 billion NOK in 2014. The Group employs ~2,400 globally, and is publicly listed on the Oslo Stock Exchange. (OSE: TOM) The TOMRA Group continues to innovate and provide cutting-edge solutions for optimal resource productivity within two main business areas: Collection Solutions (reverse vending and material recovery) and Sorting Solutions (recycling, mining and food sorting). For further information about TOMRA, please see www.tomra.com