Slide 1: 2nd quarter 2024 results announcement
nd 2 quarter 2024 results announcement TOMRA Systems ASA 19 July 2024 © TOMRA
Slide 2: TOMRA Capital Markets Day 2024
TOMRA Join us for a for full day Capital Markets Day to gain valuable insights into TOMRA's strategy 2024 and solutions Registrations will at the heart of Europe’s close August 16th September 5th, 2024 citrus cultivation Alicante, Spain More information on TOMRA.com/investor-relations Join us for Ex
Slide 3: Quarterly highlights
Quarterly highlights
Slide 4: Financial highlights
Revenues • Total revenue of 333 MEUR (332 MEUR in 2Q 2023). Compared to 2Q 2023 revenues were: ‐ Flat for TOMRA Group ‐ Up 15% in Collection ‐ Down 15% in Recycling ‐ Down 16% in Food Gross margin • Gross margin at 44% (42% in 2Q 2023) ‐ Improvement in all three divisions Operating • Operating expen
Slide 5: TOMRA RollPac Collection Business update
TOMRA RollPac Redefining reverse vending Collection Business update with space-efficient solutions • Strong sales in all regions. • In new markets, high activity continued in Romania and picked up in Austria. • European Distribution Hub launched in Poland, positioning TOMRA for future growth and red
Slide 6: Recycling Business update
Record-high order backlog Recycling Business update up 9% compared with 2Q 2023 • Revenues in line with expected lower backlog conversion EUR millions 133 ratio, driven by a higher share of large projects with longer 121 lead times. 95 • Softer market sentiment continues in European plastics 81 recy
Slide 7: Food Business update
Food Business update • Revenue down compared to a strong 2Q 2023. • Soft market sentiment in fresh food categories while the potato category continues to perform well. • Cost reduction and restructuring program is progressing according to plan. • The last units out of Hamilton, New Zealand have been
Slide 8: Financials and outlook
miarelalerelis and outlook
Slide 9: Group P&L Highlights
Revenues [EUR millions] Group P&L Highlights 266 305 332 333 210 2nd Quarter 1st Half Year Amounts in EUR million 2024 2023 2024 2023 2Q20 2Q21 2Q22 2Q23 2Q24 Revenues 333 332 623 626 Gross margin Collection 193 167 381 333 [% of Revenues] Recycling 57 68 104 123 43% 45% 44% 42% 42% Food 82 97 142 1
Slide 10: Collection P&L Highlights
Revenues [EUR millions] Collection P&L Highlights 193 167 152 137 96 2nd Quarter 1st Half Year Amounts in EUR million 2024 2023 2024 2023 2Q20 2Q21 2Q22 2Q23 2Q24 Revenues 193 167 381 333 Gross margin Northern Europe 26 26 50 50 [% of Revenues] Europe (ex Northern) 93 76 190 156 44% 40% 39% 38% 39%
Slide 11: Recycling P&L Highlights
Revenues [EUR millions] 68 57 Recycling P&L Highlights 32 44 55 2Q20 2Q21 2Q22 2Q23 2Q24 2nd Quarter 1st Half Year Gross margin Amounts in EUR million 2024 2023 2024 2023 [EUR millions] Revenues 57 68 104 123 55% 53% 50% 51% 53% Europe 40 34 62 64 Americas 5 14 20 28 2Q20 2Q21 2Q22 2Q23 2Q24 EBITA A
Slide 12: Food P&L Highlights
Revenues Food P&L Highlights [EUR millions] 83 86 98 97 82 2nd Quarter 1st Half Year Amounts in EUR million 2024 2023 2024 2023 2Q20 2Q21 2Q22 2Q23 2Q24 Revenues 82 97 142 169 Gross margin [EUR millions] Europe 27 33 43 53 45% 43% 43% 44% 43% Americas 39 43 67 81 Asia 8 7 17 14 2Q20 2Q21 2Q22 2Q23 2
Slide 13: Balance sheet and cash flow
Cash flow from operations, YTD Balance sheet and cash flow [EUR millions] 200 30 Jun 31 December 150 Amounts in EUR million 2024 2023 2023 100 ASSETS 1,502 1,334 1,469 50 Intangible non-current assets 409 386 407 0 Tangible non-current assets 310 252 286 1/1 1Q 2Q 3Q 4Q Financial non-current assets
Slide 14: Financial position
Financial position Financing Capital structure EUR millions • 1,000 MNOK green bonds issued 200 3 April 2024 Bonds and other loans • Weighted average debt maturity RCF drawn of 2.4 years Capital 150 Undrawn credit facilities • Bonds and other loans includes structure Low gearing and financial risk U
Slide 15: Currency risk and hedging policy
Currency risk and hedging policy USD/EUR average 2Q24 vs 2Q23: +1.2% 105 104 103 Currency sensitivity 102 USD/EUR 101 A strengthening/ weakening of EUR towards other 100 currencies of 10% would normally 99 decrease/increase EBITA by ~5%. 98 97 96 Hedging policy 95 2Q23 3Q23 4Q23 1Q24 2Q24 CASHFLOW A
Slide 16: Outlook
• High activity related to new and expanding markets. Collection . • Quarterly performance will be dependent upon timing of new initiatives. • Currently softer market sentiment leading to slower short-term growth. • Demand for recycled materials is expected to create attractive growth opportunities.
Slide 17: Copyright and Disclaimer
Copyright The material in this Document (which may be a presentation, video, brochure or other material), hereafter called Document , including copy, photographs, drawings and other images, remains the property of TOMRA Systems ASA or third-party contributors where appropriate. No part of this Docum
Slide 18: www.tomra.com
www.tomra.com