TOMRA Q3: Another Solid Quarter
Revenues in the third quarter 2016 amounted to 1,715 MNOK compared to 1,748 MNOK in third quarter last year. Revenues in TOMRA Collection decreased by 3% (down 5% currency adjusted), while revenues in TOMRA Sorting were stable (down 2% currency adjusted). Gross margin was 43% in the quarter, up from 41% corresponding period last year. This is explained by improved margins in TOMRA Collection (currency- and product-mix related). Gross margin in TOMRA Sorting Solutions was stable. Operating expenses increased from 393 MNOK in third quarter 2015 to 408 MNOK in third quarter 2016. This