TOMRA Systems

Earnings Release • Oct 17, 2025

TOMRA: Muted quarter due to phasing of new Collection markets and continued weak market in Recycling

TOMRA: Muted quarter due to phasing of new Collection markets and continued weak market in Recycling

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

resource productivity, announces its financial results for the third quarter

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

"It's really exciting days in TOMRA. Results are muted in the quarter, largely

due to a weak market sentiment that continues in Recycling, but Collection and

Food deliver a solid quarter. We congratulate Poland on having launched their

deposit return system on 1 October, which will be the second biggest deposit

market to date. We have seen high commercial activity in the market for some

time and now we are moving into a phase where a large number of machines are to

be installed in the coming months. We look forward to supporting Poland realize

its recycling ambitions, and to the launch of more markets - such as Portugal -

next year."

Revenues in TOMRA Group amounted to 306 MEUR in the quarter (3Q24: 326 MEUR), a

decrease of 6% from last year. Collection revenues were down 5% to 179 MEUR from

a strong third quarter last year (3Q24: 189 MEUR). In Recycling, revenues were

40 MEUR (3Q24: 59 MEUR) which is 3 MEUR lower than estimated by the conversion

ratio for the quarter. In Food, revenues were down 2% to 76 MEUR (3Q24: 78

MEUR), marginally higher than estimated by the conversion ratio.

The order intake in Recycling was 42 MEUR in the quarter (3Q24: 61 MEUR), in

line with the order intake in the second quarter. Low customer investment

sentiment continued in North America and Europe within plastics and waste

sorting. The Recycling order backlog ended at 109 MEUR (3Q24: 134 MEUR). In

Food, the order intake was up 6% to 77 MEUR (3Q24: 73 MEUR). The Food order

backlog grew 21% to a record high 138 MEUR (3Q24: 114 MEUR) with many large

orders to be delivered in 2026.

Gross margin for TOMRA Group increased to 44% in the quarter (3Q24: 43%). The

Collection gross margin improved to 42% (3Q24: 41%) on business mix effects. Low

volumes and product mix effects in Recycling, where a higher-than-normal share

of sales were into the metals recycling segment, led to a gross margin of 44%

(3Q24: 51%). The gross margin in Food increased to 45% (3Q24: 43%), enabled by

last year's cost savings.

Operating expenses, adjusted for special items, increased to 104 MEUR in the

quarter (3Q24: 97 MEUR) due to the inclusion of c-trace, ramp up of Feedstock

operations, and transaction costs related to the acquisition of CLYNK.

EBITA, adjusted for special items, was 30 MEUR in the quarter (3Q24: 44 MEUR)

with a corresponding EBITA margin (adj.) of 10% (3Q24: 13%). Collection's EBITA

margin was 16% (3Q24: 18%), while low volumes and product mix effects in

Recycling resulted in a negative EBITA margin in the quarter (3Q24: 17%). In

Food, the EBITA margin (adj.) increased to 10% (3Q24: 8%), in line with the

targeted EBITA margin this year.

Earnings per share, adjusted for special items, were 0.05 EUR (3Q24: 0.07 EUR).

Highlights 3rd quarter 2025

(comparison figures are from the corresponding period last year)

· Revenues were 306 MEUR (3Q24: 326 MEUR) in TOMRA Group, down 6%

· Revenues were down 5% in Collection, 32% in Recycling, and 2% in Food

· Gross margin of 44% (3Q24: 43%)

· Operating expenses (adj. for special items) was 104 MEUR (3Q24: 97 MEUR)

· No special items in the quarter (3Q24: -0.5 MEUR)

· EBITA (adj. for special items) was 30 MEUR (3Q24: 44 MEUR)

· EPS (adj. for special items) was 0.05 EUR (3Q24: 0.07 EUR)

· Cash flow from operations was 64 MEUR (3Q24: 99 MEUR)

· Recycling order intake down 30% to 42 MEUR (3Q24: 61 MEUR)

and order backlog down 19% to 109 MEUR (3Q24: 134 MEUR)

· Food order intake up 6% to 77 MEUR (3Q24: 73 MEUR)

and order backlog growth of 21% to 138 MEUR (3Q24: 114 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/20251017_1

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/24b0e8a5-aeb2-4306-963d

-678ae0b1a4f0@4308d118-edd1-4300-8a37-cfeba8ad5898

Asker, 17 October 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.