Slide 1: 4th quarter 2022 results announcement
4th quarter 2022 results announcement Click to enter TOMRA Systems name ASA Place 24 February 2023 dd.mm.yy © TOMRA
Slide 2: Quarterly highlights
Quarterly highlights
Slide 3: Financial highlights
Revenues • All-time high revenues of 3,477 MNOK (3,050 MNOK in fourth quarter 2021) Adjusted for currency, revenues were: Financial - Up 7% for TOMRA Group - Up 6% in Collection - Up 4% in Recycling highlights - Up 9% in Food Gross margin • Gross margin of 42.4% – down from 43.6% in fourth quarter 2
Slide 4: Collection Business update
The Netherlands – 1 April 2023 (expansion) Collection The Netherlands will extend the current deposit system to include cans as of January 1st, 2023 (link). The system is planned to be operational from April 1st, 2023 (link). Business update Scotland – 16 August 2023 In May 2020, Scotland approved d
Slide 5: Recycling Business update
All-time high order intake, up 23% compared with Q4 2021 Recycling 639 Business update 428 364 521 • Continued growth in waste recycling and plastics Updates • Positive currency effect on order intake in Q4 2022 • Solid order backlog, up 37% compared to 4Q21 • Normalization of demand levels 4Q19 4Q2
Slide 6: Food Business update
Order intake up 14% compared to Q4 2021 905 865 886 • Good order performance in Food 777 processed food Business update • Fresh food orders below last year, partly due to weak harvests • Signs of postponed projects in the pipeline (one month delay) 4Q19 4Q20 4Q21 4Q22 Order intake (NOK millions) Hig
Slide 7: Our strategy is to accelerate growth in core and develop adjacent opportunities
Our strategy is to accelerate growth in core and develop adjacent opportunities Net Zero Revenue growth Click to enter name EBITA margin Dividend payout Capital structure holistic sustainability Place 15% CAGR at 18% 40-60% of EPS Investment grade dd.mm.yy strategy
Slide 8: Plastic sorting for advanced recycling
Connecting the value chain Plastic sorting for Input Output advanced recycling sorting plant TOMRA will invest EUR 50-60 million in building a mid-scale sorting plant: - Operational 2024-2025 Mixed plastics fraction 10 high quality polymer Advanced sorting - Located in Germany sourced from material
Slide 9: Financials and outlook
Financials and outlook
Slide 10: Group P&L Highlights
Revenues [NOK millions] 3 477 Group P&L Highlights 2 467 2 569 2 742 3 050 4th Quarter Full year Amounts in NOK million 2022 2021 2021 Adj* 2022 2021 2021 Adj* 4Q18 4Q19 4Q20 4Q21 4Q22 Revenues 3,477 3,050 3,257 12,188 10,909 11,290 Gross margin [% of Revenues] Collection 1,693 1,481 1,591 6,192 5,7
Slide 11: Collection P&L Highlights
Revenues [NOK millions] 1 693 Collection P&L Highlights 1 141 1 265 1 426 1 481 4th Quarter Full year Amounts in NOK million 2022 2021 2021 Adj* 2022 2021 2021 Adj* 4Q18 4Q19 4Q20 4Q21 4Q22 Revenues 1,693 1,481 1,591 6,192 5,738 5,940 Gross margin [% of Revenues] Northern Europe 227 187 927 801 Euro
Slide 12: Recycling P&L Highlights
Revenues [NOK millions] 681 631 Recycling P&L Highlights 413 438 4Q19 4Q20 4Q21 4Q22 4th Quarter Full year Gross margin [NOK millions] Amounts in NOK million 2022 2021 2021 Adj* 2022 2021 2021 Adj* 50% 54% 54% 51% Revenues 681 631 653 2,376 1,881 1,890 Europe 384 386 1,432 1,151 4Q19 4Q20 4Q21 4Q22
Slide 13: Food P&L Highlights
Revenues [NOK millions] 1 103 891 878 938 Food P&L Highlights 4Q19 4Q20 4Q21 4Q22 4th Quarter Full year Gross margin [NOK millions] Amounts in NOK million 2022 2021 2021 Adj* 2022 2021 2021 Adj* 45% 44% 44% 43% Revenues 1,103 938 1,013 3,620 3,290 3,460 Europe 316 174 1,033 911 4Q19 4Q20 4Q21 4Q22 A
Slide 14: Balance sheet and cash flow
Cash flow from operations Balance sheet and cash flow [NOK millions] 31 December Amounts in NOK million 2022 2021 ASSETS 13,932 11,589 Intangible non-current assets 4,132 3,790 Tangible non-current assets 2,671 2,197 Financial non-current assets 448 347 Inventory 2,370 1,883 Receivables 3,562 2,740
Slide 15: Financial position
Financial position Debt maturity profile Current funding sources • Weighted average debt maturity of 3.1 years • TOMRA has a satisfactory liquidity situation with available unused credit lines of approx. 1 010 MNOK • Interest-bearing bonds are swapped to EUR and are exposed to EUR/NOK exchange rate
Slide 16: Currency risk and hedging policy
Currency risk and hedging policy Measured against NOK *Average 4Q22 vs 4Q21 130 10% change in NOK towards other currencies will impact: 125 120 Revenues Expenses EBITA 115 EUR* 5.0% 5.0% 5.0% USD/NOK +16.8%* 110 105 USD 3.0% 2.5% 6.0% 100 EUR/NOK +4.2%* OTHER2 2.0% 2.0% 2.0% 95 90 ALL 10.0% 9.5% 13.
Slide 17: Outlook
• High activity related to preparation for new markets Collection • Quarterly performance will be dependent upon timing of new initiatives Outlook • Positive momentum assumed to continue and normalize from high 2022 levels Recycling • Demand for recycled materials is expected to create opportunities
Slide 18: IRE TOMRA
IRE TOMRA
Slide 19: 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 20: www.tomra.com
www.tomra.com 20