Norway · Delayed Price · Currency is NOK Tomra Systems ASA Earnings Call Transcripts
Fiscal Year 2026
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Record revenues driven by strong RVM installations in Poland and growth in new and existing markets. Collection EBITDA rose 58%, while Recycling order intake rebounded 40% despite revenue decline. Margin pressure from product mix is expected to ease as service revenues ramp up.
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Q1 2026 delivered strong revenue growth in Food and Collection, offset by margin pressure from product mix and weak Recycling volumes. Cost reduction in Recycling and innovation in Collection and Food support a positive long-term outlook.
Fiscal Year 2025
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Q4 2025 saw record results in Collection and Food, while Recycling faced ongoing market headwinds and initiated cost reductions. Outlook for 2026 includes continued growth in Collection and Food, with Recycling recovery expected only in the longer term.
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Q3 saw muted results due to delayed new market rollouts and weak Recycling, while Food delivered strong order growth and margins. Collection is well positioned in Poland and Portugal, and the CLYNK acquisition strengthens US operations. Recycling faces ongoing market headwinds.
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Q2 2025 saw record results in Food, stable Recycling, and a Collection decline due to market phasing. Macroeconomic and tariff uncertainties weighed on Recycling and Food, while new deposit return systems in Poland and Portugal are set to drive future Collection growth.
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Q1 2025 saw 5% revenue growth and improved margins, led by a strong Food division turnaround and stable Collection and Recycling. Order intake in Recycling softened due to macro uncertainty, while Food and Collection maintained positive momentum. Outlook for 2025 remains cautiously optimistic.
Fiscal Year 2024
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Record Q4 and full-year results with double-digit revenue and EBITDA growth, strong cash flow, and improved margins. New market rollouts and regulatory drivers support a positive outlook, though plastics recycling remains soft while food shows early signs of recovery.
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Acquisition of 80% of a German digital waste management leader for EUR 56 million in cash, with an option for the remaining 20% in two years, aims to drive growth and digital synergies in recycling and collection. The deal leverages strong market position and technology for international expansion.
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Q3 2024 saw 6% revenue growth, strong Collection and Food performance, and record order backlogs, while Recycling volumes declined as expected. Adjusted EBITDA rose 15% and cash flow hit a record EUR 99 million. Outlook remains positive for Collection and Recycling, with Food focused on profitability.
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Strategy and targets through 2030 are reaffirmed: 15% CAGR, 18% EBITDA, and >18% ROCE, with growth led by Collection and Recycling, Food turnaround, and selective adjacent ventures. Service revenue and sustainability are key levers, and capital allocation remains disciplined.
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Q2 2024 saw flat revenue year-over-year at EUR 333 million, with strong Collection growth offset by declines in Recycling and Food. Gross margin improved to 44%, and order backlog reached an all-time high, supporting future visibility. Collection is expected to grow mid- to high-single digits for the year, while Recycling and Food face softer market sentiment.