TOMRA Systems — Earnings Release 2023

Jul 14, 2023

TOMRA: All-time high revenues in all divisions in the second quarter 2023

TOMRA: All-time high revenues in all divisions in the second quarter 2023

TOMRA, the global technology leader in sensor based solutions for optimal

resource productivity, announces its financial results for the second quarter of

2023. All business divisions - Collection, Recycling, and Food - deliver all

-time high revenues totaling 3,879 MNOK in the quarter. This corresponds to 27%

growth from the same period last year and 14% when adjusting for currency

effects.

Highlights 2Q 2023

(all growth figures are from the second quarter last year and adjusted for

currency)

· Revenues amounted to 3,879 MNOK, up 14%

· Revenue growth of 15% in Collection, 26% in Recycling, and 4% in Food

· Gross margin improved to 42.5%, corresponding to an increase of 0.6

percentage points

· Operating expenses amounted to 1,112 MNOK, in line with the previous nine

month's level when adjusted for currency and general inflation

· EBITA was 536 MNOK, up 3%

· Cash flow from operations of 41 MNOK, increase in receivables of 605 MNOK

· Recycling order backlog growth of 28%

Tove Andersen, President and CEO of TOMRA Systems ASA comments:

"I am very pleased that we continue to deliver on our strategic growth

ambitions, delivering all-time high revenues in all three divisions -

Collection, Recycling and Food. At the same time, we have lifted gross margins

in both Collection and Recycling while scaling up the organization for further

growth and continuing to innovate. We are also taking further actions to improve

performance in our Food division where we have been seeing weaker market

sentiment in the current macroeconomic environment."

"TOMRA is well positioned to develop adjacent opportunities to our core

business, and I am very excited about the progress we are making in these new

ventures. There is a legislative push to advance the circularity of plastic

packaging through recycled content targets and reusable takeaway packaging. In

TOMRA, we innovate new circular business models based on our technology. This

quarter, we announced together with Plastretur that we will create Norway's

first dedicated sorting plant to enable circular plastic packaging. We also

entered into collaboration with Aarhus Municipality in Denmark to create the

country's first deposit system for takeaway packaging. All these ventures have

the potential to become additional profitable business divisions in TOMRA."

"Looking ahead, we are optimistic about the long-term demand for better resource

productivity, which is driven by megatrends such as population increase, a

growing middle-class consumer base, greater urbanization, and hence the need for

increased focus on sustainability and climate change. With the technology we

provide, TOMRA is well-positioned to enable society meet the challenges that

follow by transforming how we obtain, use and reuse our world's resources."

Webcast:

President & CEO Tove Andersen and CFO Eva Sagemo will present the results today

at 08:00 CEST. The presentation will be sent via live webcast. Questions to the

speakers can be directed using the Q&A-tool embedded in the webcast and will be

addressed towards the end of the presentation. A recorded version of the webcast

will be available shortly after the webcast has concluded. Link to the webcast:

https://channel.royalcast.com/landingpage/hegnarmedia/20230714_1/

Asker, 14 July 2023

TOMRA Systems ASA

For further information, please contact:

Eva Sagemo, CFO

Tel: +47 934 39 911

Daniel Sundahl, Head of Investor Relations

Tel: +47 913 61 899

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 NOK 12.2 billion in 2022. The Group employs 5,000 people

globally and is publicly listed on the Oslo Stock Exchange. (OSE: TOM). For

further information about TOMRA, please visit www.TOMRA.com

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.