TOMRA, the global technology leader in sensor-based solutions for optimal resource productivity, announces its financial results for the fourth quarter of 2023.
Collection and Recycling delivered solid revenue growth of 26% and 18% respectively (currency adjusted) while revenues in Food declined 20% compared to the fourth quarter last year. For the full year, revenues have grown 18% in both Collection and Recycling but declined 7% in Food. Overall growth in
Gross margins for
Operating expenses in the quarter include 374 MNOK in one-off costs, of which 86 MNOK are related to the cyberattack and 288 MNOK to the cost reduction program in Food. Adjusted for these, operating expenses were 1,179 MNOK which is an increase of 13% compared to the same quarter last year (currency adjusted).
EBITA, adjusted for one-off costs, amounted to 626 MNOK in fourth quarter, which is an increase of 12% from last year. For the full year, adjusted EBITA amounted to 1,873 MNOK, which is a decrease of 1% from 2022.
Earnings per share in 2023 amounted to
Highlights 4Q 2023
(all growth figures are from the fourth quarter last year and adjusted for currency)
- Revenues amounted to 4,123 MNOK in
TOMRA Group , up 10% - Revenue growth of 26% in Collection and 18% in Recycling, but -20% in Food
- Gross margin improved to 43.8%, corresponding to an increase of 1.4 percentage points
- Operating expenses of 1,179 MNOK, adjusted for 374 MNOK in one-off costs related to the Food restructuring program and the cyberattack
- EBITA was 626 MNOK adjusted for food restructuring and cyberattack costs, and 252 MNOK including
- Cash flow from operations was 1,316 MNOK
- Recycling order intake increased 11% and the backlog 5%
- Food order intake increased 15% while the backlog decreased 3%
-
The Board of Directors proposes a dividend of
NOK 1.95 per share
"Over the last months, activity in TOMRA has been high with four new markets -
"Overall, Collection and Recycling delivered growth and EBITA margin improvements in 2023 well in line with our strategic ambitions of an average annual growth rate of 15% and EBITA margin improvement to 18% by 2027. In Food, we are taking firm actions to improve profitability and refocus the organization to be ready when growth in the market returns. While it is a softer market sentiment momentarily, looking ahead we are confident in the long-term demand for increased circularity and better resource productivity. TOMRA is well-positioned to enable a world without waste - transforming how we obtain, use and reuse our world's resources."
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Asker,
For questions, please contact:
Eva Sagemo, CFO: +47 93 43 99 11
TOMRA was founded on an innovation in 1972 that began with the design, manufacturing and sale of reverse vending machines for automated collection of used beverage containers. Today TOMRA provides technology-led solutions that optimize resource use and recovery in the food, recycling, and ore sorting industries.
TOMRA has more than 105,000 installations in over 100 markets worldwide and had total revenues of
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
https://news.cision.com/tomra-systems-asa/r/tomra--4q-2023---all-time-high-revenues-with-strong-performance-in-collection-and-recycling--food-re,c3929100
https://mb.cision.com/Public/4659/3929100/a7d3a4da20128387.pdf
https://mb.cision.com/Public/4659/3929100/963157c8b30d2862.pdf
https://mb.cision.com/Public/4659/3929100/a4fadcd01ae44fd3.pdf
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