TOMRA Systems — Interim / Quarterly Report 2015

Oct 21, 2015

21.10.2015

HIGHLIGHTS

3Q 2015

• All time high revenues of 1,748 MNOK (1,188 MNOK in third quarter 2014). Currency adjusted revenues were:
• Up 30% for TOMRA Group
• Up 40% in TOMRA Collection Solutions
• Up 16% in TOMRA Sorting Solutions
• Gross margin 41%, down from 42% in third quarter 2014 (currency adjusted)
• Lower margin in TOMRA Collection Solutions
• Improved margin in TOMRA Sorting Solutions
• Operating expenses of 394 MNOK (302 MNOK in third quarter 2014) — Up 15% adjusted for currency
• All time high EBITA of 324 MNOK (206 MNOK in third quarter 2014)
• All time high Cashflow from operations of 384 MNOK (236 MNOK in third quarter 2014)
• Order intake of 572 MNOK in TOMRA Sorting Solutions, compared to 550 MNOK same period last year (down 8% currency adjusted)
• Order backlog of 785 MNOK in TOMRA Sorting Solutions, down from 851 MNOK at the end of second quarter 2015

CONSOLIDATED FINANCIALS

Third quarter

Revenues in the third quarter 2015 amounted to 1,748 MNOK compared to 1,188 MNOK in third quarter last year. Revenues in TOMRA Collection increased by 60% (up 40% currency adjusted), while revenues in TOMRA Sorting were up 29% (up 16% currency adjusted).

Gross margin was 41% in the quarter, down from 43% in the corresponding period last year, explained by reduced margins in TOMRA Collection (currencyand product-mix related), partly offset by slightly improved margins in TOMRA Sorting (volume- and product-mix related).

Operating expenses increased from 302 MNOK in third quarter 2014 to 393 MNOK in third quarter 2015, The increase was mainly driven by currency effects (stronger EUR and USD vs NOK), higher activity and bonus accruals.

EBITA was 324 MNOK in third quarter 2015 versus 206 MNOK in the third quarter 2014.

Cash flow from operations in third quarter 2015 equaled 384 MNOK, up from 236 MNOK in third quarter 2014.

The equity ratio increased from 49% at year end 2014 to 50% at the end of September 2015, mainly due to earnings and positive currency effects, offset by a dividend of 214 MNOK paid out in May 2015.

Net interest bearing debt decreased by 169 MNOK during the same period, as the free cash flow more than offset the dividend payment. At the end of third quarter 2015 NIBD/EBITDA on a rolling 12 month basis was equal to 1.0.

Reporting in NOK, but with most of the revenues nominated in EUR and USD, TOMRA will benefit on top line from a weaker NOK. Most of the cost is also nominated in EUR and USD, but more sourcing from China is driving an increasing share in Chinese CNY. Third quarter 2015 vs third quarter 2014, EUR, USD and CNY strengthened 10%, 32% and 29% respectively, positively influencing revenues by approximately 17% points and EBITA by around 13% points.

TOMRA Group
(MNOK)	3Q15	3Q14	YTD15	YTD14
Revenues	1 748	1 188	4 327	3 349
Gross contribution	717	508	1 812	1440
- in %	41 %	43 %	42 %	43 %
Operating expenses	393	302	1144	969
EBITA	324	206	668	471
- in %	19 %	17 %	15 %	14 %
Incl. onetime costs
- In operating exp.	-	-	-	25

BUSINESS AREA REPORTING

TOMRA Collection Solutions

Driven by stronger USD and EUR vs NOK and increased sales in Germany, the business area reported a revenue growth of 60% third quarter 2015, compared to same period last year. After adjustment for currency changes, revenues were up 40%.

Gross margin was 39%, down from 42% same period last year, negatively influenced by product mix and more lower-margin USD nominated revenues (Material recovery). Currency adjusted gross margin was down two percentage points.

Operating expenses were up 12%, currency adjusted, a result of higher activity and bonus accruals.

EBITA was MNOK 247, up from 147 MNOK last year.

Europe

The momentum in the German market has been good. Germany implemented deposit on nonrefillable beverage containers in 2006 and TOMRA installed 8,800 machines in that market during that year. These machines are currently in the process of being replaced, positively influencing TOMRA's performance in third quarter 2015.

Also Sweden is currently experiencing high replacement activity, as new requirements from 1 January 2017 will make some of the oldest machines technically obsolete.

Lithuania

TOMRA entered in September into an agreement with USAD (the Lithuanian deposit administrator). The agreement includes placement of up to approximately 1000 reverse vending machines in the Lithuanian market. The machines will be owned by TOMRA and rented out on a volume-based lease.

North America

Revenues in local currencies were unchanged compared to third quarter 2014, but significantly up measured in NOK. Both throughput volumes and machine sales have been stable.

TOMRA Collection Solutions

(MNOK)	3Q15	3Q14	YTD15	YTD14
Revenues
- Nordic	128	84	374	292
- Europe (ex Nordic)	563	316	1 193	894
- North America	385	285	1 040	796
- Rest of World	34	10	57	24
Total revenues	1 110	695	2 664	2 006
Gross contribution	431	291	1 069	847
- in %	39 %	42 %	40 %	42 %
Operating expenses	184	144	550	458
EBITA	247	147	519	389
- in %	22 %	21 %	19 %	19 %

Excluding one time cost

BUSINESS AREA REPORTING

TOMRA Sorting Solutions

Revenues in the quarter increased by 29% compared to same quarter in 2014. Adjusted for currency effects, revenues were up 16%.

Gross margin increased from 44% in third quarter 2014 to 45% in third quarter 2015, due to higher volumes and product mix.

Operating expenses increased by 17%, currency adjusted, due to higher activity and bonus accruals.

EBITA increased from 66 MNOK in third quarter 2014 to 87 MNOK in third quarter 2015, driven by higher volumes, improved gross margin and positive currency effects.

TOMRA Sorting Solutions

(MNOK)	3Q15	3Q14	YTD15	YTD14
Revenues
- Europe	296	195	784	570
- North America	176	161	506	470
- South America	35	49	57	58
- Asia	94	46	234	153
- Oceania	11	23	39	49
- Africa	26	19	43	43
Total revenues	638	493	1 663	1 343
Gross contribution	286	217	743	593
- in %	45 %	44 %	45 %	44 %
Operating expenses	199	151	568	490
EBITA	87	66	175	103
- in %	14 %	13 %	11 %	8 %
Incl. onetime costs
- In operating exp.	-	-	-	25

Excluding one time cost

Order intake TOMRA Sorting

Order backlog TOMRA Sorting

Revenues TOMRA Sorting

The order intake in third quarter 2015 was, as expected, somewhat down compared to the last four quarters, currency adjusted.

However, supported by a strong USD and EUR, the order intake measured in NOK was up from 550 MNOK in third quarter 2014 to 572 MNOK in third quarter 2015.

With all time high revenues in TSS (638 MNOK in third quarter 2015), and somewhat lower order intake, the order backlog at the end of the quarter was 785 MNOK, down from 851 MNOK at the end of second quarter 2015.

Business streams

Food

Revenues in third quarter 2015 were significantly up from third quarter 2014. The order intake was slightly down quarter over quarter, leading to a somewhat lower order backlog at the end of third quarter 2015.

Recycling

Revenues in third quarter 2015 were significantly up from third quarter 2014. The order intake was good, despite challenging markets. The momentum in the Metal recycling segment remains low.

Mining

Revenues in third quarter 2015 were slightly up from third quarter 2014. Order intake has been low, due to a challenging market.

MARKET OUTLOOK

The long term demand for better resource productivity is a result of megatrends such as population increase, a growing middle class consumer base and greater urbanization. TOMRA, as a leader in sensor based solutions, is favorably positioned to capitalize on these trends.

TOMRA Collection Solutions

The replacement demand in Germany is assumed to continue and the outlook for fourth quarter is consequently good, although revenues and EBITA will both be significantly below the exceptionally strong third quarter 2015.

TOMRA Sorting Solutions

Due to a high backlog at the end of third quarter 2015, fourth quarter revenue is expected to be good. Orders taken to P/L in fourth quarter are assumed to be higher than orders received during the quarter, leading to a reduction in the order backlog by the end of fourth quarter 2015.

Currency

Reporting in NOK and with some NOK cost base, TOMRA will in general benefit from a weak NOK, measured particularly against EUR. TOMRA will consequently continue to gain from a weak NOK, provided current exchange rate levels are maintained.

THE TOMRA SHARE

The total number of issued shares at the end of third quarter 2015 was 148,020,078 shares, including 141,082 treasury shares. The total number of shareholders decreased from 5,725 at the end of second quarter 2015 to 5,671 at the end of third quarter 2015. Norwegian residents held 29% of the shares at the end of third quarter 2015.

TOMRA's share price increased from NOK 71.75 to NOK 80.00 during third quarter 2015. The number of shares traded on the Oslo Stock Exchange in the period was 9 million compared to 7 million in the same period in 2014.

Asker, 20 October 2015

The Board of Directors TOMRA SYSTEMS ASA

Jan Svensson Stefan Ranstrand Chairman of the Board President & CEO

Condensed Consolidated interim financial statements

STATEMENT OF PROFIT AND LOSS		3rd Quarter		YTD		Full year
(MNOK)	Note	2015	2014	2015	2014	2014
Operating revenues	(5)	1 748,4	1 187,8	4 327,3	3 348,5	4 749,0
Cost of goods sold		1 011,0	664,6	2 454,8	1 861,2	2 636,2
Depreciations/write-down		20,4	15,9	60,6	47,2	63,3
Gross contribution		717,0	507,3	1 811,9	1 440,1	2 049,5
Operating expenses		367,2	280,2	1 067,6	905,4	1 225,2
Depreciations/write-down		25,9	21,4	76,0	63,7	87,8
EBITA	(5)	323,9	205,7	668,3	471,0	736,5
Amortizations		34,1	28,3	92,0	83,4	109,0
EBIT	(5)	289,8	177,4	576,3	387,6	627,5
Net financial income		(7,0)	(8,2)	(22,2)	(25,2)	(24,1)
Profit before tax		282,8	169,2	554,1	362,4	603,4
Taxes		80,6	42,4	150,1	89,0	148,4
Profit from continuing operations		202,2	126,8	404,0	273,4	455,0
Discontinued operations	(3)	(1,1)	4,0	(4,1)	1,0	(60,7)
Net profit		201,1	130,8	399,9	274,4	394,3
Non-Controlling interest (Minority interest)		(18,7)	(12,9)	(36,3)	(25,0)	(33,4)
Earnings per share (EPS)		1,23	0,80	2,45	1,69	2,44
Earnings per share (EPS) continuing operations		1,24	0,77	2,49	1,68	2,85

STATEMENT OF OTHER COMPREHENSIVE INCOME	3rd Quarter		YTD	Full year
(MNOK)	2015	2014	2015	2014	2014
Net profit for the period	201,1	130,8	399,9	274,4	394,3
Other comprehensive income that may be reclassified to profit or loss
Translation differences	260,1	(6,0)	264,8	(2,6)	368,3
Other comprehensive income that will not be reclassified to profit or loss
Remeasurements of defined benefit liability (assets)	0,0	0,0	0,0	0,0	(10,1)
Total comprehensive income	461,2	124,8	664,7	271,8	752,5
Attributable to:
Non-controlling interest	28,8	17,0	53,1	30,0	51,7
Shareholders of the parent company	432,4	107,8	611,6	241,8	700,8
Total comprehensive income	461,2	124,8	664,7 -0	271,8 -	752,5

STATEMENTS OF FINANCIAL POSITION		30 September	Full year
(MNOK)	2015	2014	2014
ASSETS
Intangible non-current assets	2 816,2	2 479,0	2 622,6
Tangible non-current assets	721,4	616,0	682,9
Financial non-current assets	309,1	284,5	307,3
Inventory	1 157,9	923,1	912,9
Receivables	1 918,0	1 487,7	1 536,9
Cash and cash equivalents	395,5	172,4	436,3
Assets held for sale (3)	-	-	125,8
TOTAL ASSETS	7 318,1	5 962,7	6 624,7
EQUITY & LIABILITIES
Equity	3 648,3	2 790,0	3 244,0
Non-controlling interest	135,6	90,9	115,4
Deferred taxes	150,4	113,3	140,3
Long-term interest bearing liabilities	1 153,6	1 565,1	1 558,2
Short-term interest bearing liabilities	285,7	-	90,4
Other liabilities	1 944,5	1 403,4	1 452,0
Liabilities held for sale (3)	-	-	24,4
TOTAL EQUITY & LIABILITIES	7 318,1	5 962,7	6 624,7

STATEMENT OF CASHFLOWS		3rd Quarter			YTD	Full year
(MNOK)	Note	2015	2014	2015	2014	2014
Profit before income tax*		281,7	173,2	550,0	363,4	542,7
Changes in working capital		19,2	(53,7)	(115,1)	(109,3)	(0,1)
Other operating changes		82,7	116,4	135,3	130,4	153,6
Total cash flow from operations		383,6	235,9	570,2	384,5	696,2
Cashflow from (purchase)/sales of subsidiaries		(29,0)	0,0	52,2	(7,7)	(19,6)
Other cashflow from investments		(52,5)	(67,9)	(181,2)	(197,8)	(266,1)
Total cash flow from investments		(81,5)	(67,9)	(129,0)	(205,5)	(285,7)
Cashflow from sales/repurchase of treasury shares	(4)	0,0	0,0	7,1	7,0	2,0
Dividend paid out	(2)	0,0	0,0	(214,3)	(199,6)	(199,6)
Other cashflow from financing		(287,0)	(187,2)	(316,8)	28,2	33,4
Total cash flow from financing		(287,0)	(187,2)	(524,0)	(164,4)	(164,2)
Total cash flow for period		15,1	(19,2)	(82,8)	14,6	246,3
Exchange rate effect on cash		41,3	(5,7)	42,0	(6,3)	25,9
Opening cash balance		339,1	197,3	436,3	164,1	164,1
Closing cash balance		395,5	172,4	395,5	172,4	436,3

Condensed Consolidated interim financial statements (continued)

* Including loss from discontinued operations

EQUITY	Paid in	Transl.	Actuarial	Retained	Total	Minority	Total
(MNOK)	capital	reserve	Gain /	earnings	majority	interest	Equity
Balance per 31 December 2014	1 066,1	325,2	(37,1)	1 889,8	3 244,0	115,4	3 359,4
Net profit				363,6	363,6	36,3	399,9
Changes in translation difference		248,0			248,0	16,8	264,8
Remeasurement defined benefit liability					0,0		0,0
Dividend non-controlling interest					0,0	(32,9)	(32,9)
Purchase of treasury shares					0,0		0,0
Treasury shares sold to employees	0,1			7,0	7,1		7,1
Dividend to shareholders				(214,4)	(214,4)		(214,4)
Balance per 30 September 2015	1 066,2	573,2	(37,1)	2 046,0	3 648,3	135,6	3 783,9

EQUITY	3rd Quarter		YTD		Full year
(MNOK)	2015	2014	2015	2014	2014
Opening balance	3 216,0	2 682,2	3 244,0	2 740,9	2 740,9
Net profit	182,4	117,9	363,6	249,4	360,9
Translation difference	249,9	(10,1)	247,9	(7,6)	350,0
Remeasurement defined benefit liability	0,0	0,0	0,0	0,0	(10,1)
Dividend paid	0,0	0,0	(214,3)	(199,6)	(199,6)
Net purchase of own shares	0,0	0,0	7,1	6,9	1,9
Closing balance	3 648,3	2 790,0	3 648,3	2 790,0	3 244,0

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTE 1 Disclosure

This interim report has been prepared in accordance with IAS34, and in accordance with the principles used in the annual accounts for 2014. The quarterly reports do not however include all information required for a full annual financial statement of the Group and should be read in conjunction with the annual financial statement for 2014. The quarterly reports have not been audited. The quarterly reports require management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The significant judgments made by management in preparing these condensed consolidated interim financial statements in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for the year ending 31 December 2014.

A number of new standards, amendments to standards and interpretations are not effective for the period ending 30 June 2015 and have not been applied in preparing these consolidated financial statements. Those which may be relevant to the Group are set out below. The Group does not plan to adopt these standards early. These will be adopted in the period that they become mandatory unless otherwise indicated:

IFRS 9 Financial Instruments IFRS 15 Revenue from Contracts with Customers Amendments to IFRS 11 – Accounting for Acquisitions of Interests in Joint Operations Amendments to IFRS 16 and 38 – Clarification of Acceptable Methods of Depreciation and Amortisation

TOMRA is considering the effects of the future adoption of these standards. The current assessment is that TOMRA does not expect any material effects in the financial statements from the new standards.

Revenue recognition: Revenues from sales and sales-type leases of the company's products are generally recognized at the time of installation. Revenues from service contracts and operating leases of the company's products are recognized over the duration of the related agreements. Other service revenues are recognized when services are provided.

Seasonality: The Material Recovery operations, and to some extent the US Reverse Vending operations, are influenced by seasonality. The seasonality mirrors the beverage consumption pattern in the US, which normally is higher during the summer (2Q and 3Q) than during the winter (1Q and 4Q). Also the Food business stream within Sorting Solutions is influenced by seasonality, with somewhat higher activity during the harvest season in the northern hemisphere.

Financial exposures: TOMRA is exposed to currency risk, as only ~3% of its income is nominated in NOK. A strengthening/ weakening of NOK toward other currencies of 10% would normally decrease/increase operating profit by 8-12%. An increase in NIBOR and EURIBOR of 1 percentage point, would increase financial expenses by ~NOK 10 million per year.

Segment reporting: TOMRA has divided its primary reporting format into two business areas: Collection Solutions and Sorting Solutions. In addition, the corporate overhead costs are reported in a separate column. The split is based upon the risk- and return profile of the Group's different activities; also taking into consideration TOMRA's internal reporting structure.

• Collection Solutions consists of the business streams Reverse Vending (development, production, sales and service of Reverse Vending Machines and related data management systems) + Material Recovery (pick-up, transportation and processing of empty beverage containers on behalf of beverage producers/fillers on the US East Coast and in Canada
• Sorting Solutions consists of the business streams Food, Recycling and Mining, all providing advanced optical sorting systems
• Group Functions consists of costs related to corporate functions at TOMRA's headquarters

Assets and liabilities are distributed to the different business streams, except for cash, interest-bearing debt and tax-positions, which are allocated to Group Functions. There are no material revenues from transactions with other business areas. There are no material related party transactions in 2015.

The divested Compaction business is classified as discontinued operations in the profit and loss statement and as assets/liabilities held for sale in the balance sheet, and classifies under Group Functions in the segment reporting.

NOTE 2 DIVIDEND PAID

Paid out May 2014: 1.35 NOK x 147.9 million shares = NOK 199.6 million Paid out May 2015: 1.45 NOK x 147.8 million shares = NOK 214.3 million

NOTE 3 Discontinued operations

TOMRA signed 12th December 2014 an agreement with San Sac Nordic AB to sell 100% of the shares in TOMRA Compaction Group AB for a consideration of SEK 110 million (free of cash and interest bearing debt). Closing took place 30 January 2015. TOMRA will continue to operate as a distributor in some markets in a period of up to two years. The P/L impact from the Compaction business is reported as discontinued operations in both 2014 and 2015. TOMRA has given representations and warranties in line with what is considered normal in such transactions. In the balance sheet, the assets and liabilities related to the Compaction business were classified as "held for sale" at the end of 2014.

		2014
		TOMRA	Continued
	TOTAL	Compaction	operations	Spesification of divestment loss
Operating revenues	4 953,1	204,1	4 749,0	Goodwill written off		39,0
Cost of goods sold	2 765,3	129,1	2 636,2	Transaction cost		9,2
Depreciations/write-down	63,3	-	63,3	Contingent liabilities		3,7
Gross contribution	2 124,5	75,0	2 049,5	Post closing costs		5,0
Operating expenses	1 290,4	65,2	1 225,2	Other divestment cost		7,1
Depreciations/write-down	91,6	3,8	87,8	Divestment loss		64,0
EBITA	742,5	6,0	736,5
Amortizations	110,4	1,4	109,0
EBIT	632,1	4,6	627,5	Sales price (MSEK)		110,0
Net financial income	(24,1)	-	(24,1)	Restruct. charge (MSEK)		(5,0)
Profit before tax	608,0	4,6	603,4	W/C adjustment (MSEK)		0,6
Taxes	149,7	1,3	148,4	Salesprice (MSEK)		105,6
Profit from continuing operations	458,3	3,3	455,0	Salesprice (MNOK)		101,4
Discontinued operations	(64,0)	(3,3)	(60,7)
Net profit	394,3	-	394,3	Assets held for sale		125,8
Non-Controlling interest	(33,4)	-	(33,4)	Liabilities held for sale		24,4
Earnings per share (EPS)	2,44	-	2,44	Net assets held for sale		101,4
ASSETS
Intangible non-current assets	2 662,9	40,3	2 622,6
Tangible non-current assets	701,6	18,7	682,9
Financial non-current assets	307,4	0,1	307,3
Inventory	947,2	34,3	912,9
Receivables	1 569,3	32,4	1 536,9		Third quarter
Cash and cash equivalents	436,3		436,3		2015	2014
Assets held for sale	-	(125,8)	125,8	Revenues	9,5	48,4
TOTAL ASSETS	6 624,7	0,0	6 624,7	Profit after tax	(1,1)	4,0
EQUITY & LIABILITIES
Equity	3 244,0		3 244,0		YTD
Non-controlling interest	115,4		115,4		2015	2014
Deferred taxes	142,8	2,5	140,3	Revenues	37,8	139,4
Long-term interest bearing liabilities	1 558,2		1 558,2	Profit after tax	(4,1)	1,0
Short-term interest bearing liabilities	90,4		90,4
Other liabilities	1 473,9	21,9	1 452,0
Liabilities held for sale	-	(24,4)	24,4
TOTAL EQUITY & LIABILITIES	6 624,7	0,0	6 624,7

NOTE 4 Purchase of treasury shares

Net purchase of own shares	# shares	Average price		Total (MNOK)
2014
Gross purchased	100 000	NOK	50,10	5,0
Sold to employees	(123 104)	NOK	56,25	(7,0)
Net purchased	(23 104)	NOK	56,25	(7,0)
2015
Sold to employees	(103 603)	NOK	68,59	(7,1)
Net purchased	(103 603)	NOK	68,59	(7,1)

NOTE 5 Operating segments

SEGMENT	Collection Solutions		Sorting Solutions		Group Functions		Group Total
(MNOK)	3Q15	3Q14	3Q15	3Q14	3Q15	3Q14	3Q15	3Q14
Revenues	1 110	695	638	493			1 748	1 188
Gross contribution	431	291	286	217			717	508
- in %	39 %	42 %	45 %	44 %			41 %	43 %
Operating expenses	184	144	199	151	1 0	7	393	302
EBITA	247	147	8 7	6 6	(10)	(7)	324	206
- in %	22 %	21 %	14 %	13 %			19 %	17 %
Amortization	1 2	9	2 2	1 9			3 4	2 8
EBIT	235	138	6 5	4 7	(10)	(7)	290	178
- in %	21 %	20 %	10 %	10 %			17 %	15 %

SEGMENT	Collection Solutions		Sorting Solutions		Group Functions		Group Total
(MNOK)	YTD15	YTD14	YTD15	YTD14	YTD15	YTD14	YTD15	YTD14
Revenues	2 664	2 006	1 663	1 343			4 327	3 349
Gross contribution	1 069	847	743	593			1 812	1 440
- in %	40 %	42 %	45 %	44 %			42 %	43 %
Operating expenses	550	458	568	490	2 6	2 1	1 144	969
EBITA	519	389	175	103	(26)	(21)	668	471
- in %	19 %	19 %	11 %	8 %			15 %	14 %
Amortization	2 9	2 6	6 3	5 7			9 2	8 3
EBIT	490	363	112	4 6	(26)	(21)	576	388
- in %	18 %	18 %	7 %	3 %			13 %	12 %
Assets	2 961	2 498	3 761	3 135	596	330	7 318	5 963
Liabilities	1 127	802	617	517	1 790	1 763	3 534	3 082

NOTE 6 Interim results

(MNOK)	3Q15	2Q15	1Q15	4Q14	3Q14
Operating revenues (MNOK)	1 748	1 472	1 107	1 401	1 188
EBITA (MNOK)	324	240	104	266	206
EBIT (MNOK)	290	211	7 6	240	177
Sales growth (year-on-year) (%)	47 %	29 %	8 %	20 %	0 %
Gross margin (%)	41 %	42 %	43 %	44 %	43 %
EBITA margin (%)	17 %	16 %	9 %	19 %	17 %
EPS (NOK)	1,23	0,92	0,30	0,75	0,80
EPS (NOK) fully diluted	1,23	0,92	0,30	0,75	0,80

About TOMRA

TOMRA was founded on an innovation in 1972 that began with design, manufacturing and sale of reverse vending machines (RVMs) for automated collection of used beverage containers.

Today, TOMRA has ~85,000 installations in over 80 markets worldwide and had total revenues of ~4.7 billion NOK in 2014.

The Group employs ~2,400 globally, and is publicly listed on the Oslo Stock Exchange. (OSE: TOM)

The TOMRA Group continues to innovate and provide cutting-edge solutions for optimal resource productivity within two main business areas: Collection Solutions (reverse vending and material recovery) and Sorting Solutions (recycling, mining and food sorting).

For further information about TOMRA, please see www.tomra.com

The results announcement will be broadcasted on Wednesday 21 October 2015 at 08:00 CET via live webcast. Link to webcast for this and previous releases are available athttp://tomra.com/en/investor-relations/financial-information/quarterly-reports

For further information contact:

Espen Gundersen, Deputy CEO / CFO, Tel: +47 97 68 73 01 Elisabet V. Sandnes, Investor Relations Officer / M&A Director, Tel: +47 97 55 79 15