TOMRA Systems

Earnings Release • Jul 17, 2025

TOMRA: Preparation for new Collection markets, record quarter in Food, continued market uncertainty in Recycling

TOMRA: Preparation for new Collection markets, record quarter in Food, continued market uncertainty in Recycling

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

resource productivity, announces its financial results for the second quarter

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

"The second quarter has seen large variations in market dynamics between our

three divisions. In Collection, there is high activity in preparation for Poland

and Portugal's upcoming deposit return systems, but we have had a momentary

slowdown in sales reflecting the phasing of new deposit markets. Recycling

delivers revenues in line with last year's second quarter, but the order intake

is impacted by continued macroeconomic and tariff uncertainty which is

postponing customers' investment decisions. Encouragingly, the market sentiment

in Food is improving. Food delivers solid revenues and a record high EBITA in

the quarter. With a record order intake and an all-time high order backlog, we

see potential for higher growth in Food this year."

Revenues in TOMRA Group amounted to 325 MEUR in the quarter (2Q24: 333 MEUR), a

decrease of 2% from last year. Collection revenues were down 12% to 169 MEUR

from a strong second quarter last year (2Q24: 193 MEUR). In Recycling, revenues

were 57 MEUR, in line with last year (2Q24: 57 MEUR). In Food, revenues grew 15%

to 94 MEUR (2Q24: 82 MEUR).

The order backlog in Recycling was down 20% to 107 MEUR (2Q24: 133 MEUR) after a

low order intake of 41 MEUR in the quarter (2Q24: 65 MEUR). Macroeconomic and

tariff uncertainty have resulted in the postponement of new orders. In Food, the

order intake was up 28% to a record high 106 MEUR (2Q24: 83 MEUR) as the market

sentiment continued to improve. Large orders were received in all three regions

- APAC, EMEA and the Americas - and in a variety of food categories. The Food

order backlog grew 15% to a record high 137 MEUR (2Q24: 119 MEUR). Combined, the

total order intake was 147 MEUR in line with last year (2Q24: 148 MEUR), while

the total order backlog was down 3% to 243 MEUR (2Q24: 252 MEUR).

Gross margin for TOMRA Group was stable at 44% in the quarter (2Q24: 44%). The

Collection gross margin improved to 42% (2Q24: 40%) on business mix effects. Low

volumes and product mix effects in Recycling translated into a gross margin of

46% (2Q24: 53%). The gross margin in Food increased to 46% (2Q24: 45%) as a

result of last year's cost savings program and high quarterly volumes.

Operating expenses, adjusted for special items, decreased 1% to 100 MEUR in the

quarter (2Q24: 101 MEUR). A positive one-off effect of 3.7 MEUR related to the

Food restructuring program was recognized as special items in the quarter (2Q24:

-0.5 MEUR).

EBITA, adjusted for special items, was 44 MEUR in the quarter, in line with last

year (2Q24: 44 MEUR). The corresponding EBITA margin (adj.) increased to 14%

(2Q24: 13%). Collection's EBITA margin was in line with last year's at 16%

(2Q24: 16%). The lower gross margin in Recycling resulted in an EBITA margin of

11% (2Q24: 17%). Higher volumes and lower costs yielded an improved EBITA margin

(adj.) of 18% in Food (2Q24: 10%).

Earnings per share, adjusted for special items, was 0.08 EUR, in line with last

year (2Q24: 0.08 EUR).

Highlights 2nd quarter 2025

(growth figures are from the corresponding period last year)

· Revenues were 325 MEUR (2Q24: 333 MEUR) in TOMRA Group, down 2%

· Revenues were down 12% in Collection, 1% in Recycling, and up 15% in Food

· Gross margin of 44% (2Q24: 44%)

· Operating expenses (adj. for special items) was down 1% to 100 MEUR (2Q24:

101 MEUR)

· Special items gave a positive effect of 3.7 MEUR (2Q24: -0.5 MEUR)

· EBITA (adj. for special items) was 44 MEUR (2Q24: 44 MEUR)

· EPS (adj. for special items) was 0.08 EUR (2Q24: 0.08 EUR)

· Cash flow from operations was 17 MEUR (2Q24: 34 MEUR)

· Recycling order intake down 37% to 41 MEUR (2Q24: 65 MEUR)

and order backlog down 20% to 107 MEUR (2Q24: 133 MEUR)

· Food order intake up 28% to 106 MEUR (2Q24: 83 MEUR)

and order backlog growth of 15% to 137 MEUR (2Q24: 119 MEUR)

Webcast

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

at 08:00 CEST. The presentation and Q&A session will be sent via live webcast

and will be available on demand shortly after the presentation:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250717_4

Analysts and investors who would like to actively participate in the live Q&A

session must register separately for the TEAMS webinar:

https://events.teams.microsoft.com/event/5a5cb120-7424-4040-a5c4

-41b884eb093c@4308d118-edd1-4300-8a37-cfeba8ad5898

Asker, 17 July 2025

TOMRA Systems ASA

For questions, please contact:

Eva Sagemo, CFO: +47 934 39 911

Daniel Sundahl, VP Head of IR: +47 913 61 899

For media inquiries, please contact:

Mathilde Hellenes, VP Public Relations: +47 456 78 255

TOMRA develops solutions that enable circular economies and optimal resource

productivity through automated identification, collection, grading, and sorting

of resources. We optimize how resources are obtained, used, and reused - turning

waste into valuable resources. Our vision is to lead the resource revolution and

enable a world without waste.

TOMRA has approximately 113,700 installations in over 100 markets worldwide. The

Group had total revenues of EUR 1,348 million in 2024 and employs 5,300 people

globally. TOMRA Systems ASA 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.