Slide 1: 3rd quarter 2024 results announcement
rd 3 quarter 2024 results announcement TOMRA Systems ASA 22 October 2024 © TOMRA
Slide 2: Quarterly highlights
Quarterly highlights
Slide 3: Financial highlights
Revenues • Total revenue of 326 MEUR (308 MEUR in3Q 2023). Compared to 3Q 2023 revenues were: ‐ Up 6% for TOMRA Group ‐ Up 14% in Collection ‐ Down 18% in Recycling ‐ Up 12% in Food Gross margin • Gross margin at 43% (43% in 3Q 2023) ‐ Improvement in Collection and Food, lower in Recycling on lower
Slide 4: Collection Business update
Collection Business update • Strong quarter with continued growth and good margins. • Existing markets: Good throughput volumes in North America, launch of R2 in September and good sales of Rollpac. • New markets: High activity continued in Austria, continued installations in Romania, Hungary nearin
Slide 5: Recycling Business update
Strong order backlog Recycling Business update up 25% compared with 3Q 2023 • Revenues in line with expected lower backlog conversion EUR millions 134 ratio, driven by a higher share of large projects with longer lead times. 108 95 • All-time high order backlog, with significant deliveries 80 planne
Slide 6: Food Business update
Food Business update • 12% revenue growth compared to 3Q 2023 with higher sales in both Europe and South America. • Market sentiment varies by region and category. The strong cycle in potatoes continues. • Cost reduction and restructuring program is progressing well. Focus on closer proximity to cus
Slide 7: Financials and outlook
miarelalerelis and outlook
Slide 8: Group P&L Highlights
Revenues [EUR millions] Group P&L Highlights 242 279 314 308 326 3rd Quarter Year-to-Date 9 Months Amounts in EUR million 2024 2023 2024 2023 3Q20 3Q21 3Q22 3Q23 3Q24 Revenues 326 308 950 934 Collection 189 166 571 500 Gross margin [% of Revenues] Recycling 59 72 163 195 46% 44% 43% 43% 41% Food 78
Slide 9: Collection P&L Highlights
Revenues [EUR millions] Collection P&L Highlights 121 147 158 166 189 3rd Quarter Year-to-Date 9 Months Amounts in EUR million 2024 2023 2024 2023 3Q20 3Q21 3Q22 3Q23 3Q24 Revenues 189 166 571 500 Gross margin [% of Revenues] Northern Europe 22 23 73 73 Europe (ex Northern) 85 76 276 232 45% 43% 41%
Slide 10: Recycling P&L Highlights
Revenues [EUR millions] 65 72 59 Recycling P&L Highlights 39 48 3Q20 3Q21 3Q22 3Q23 3Q24 3rd Quarter Year-to-Date 9 Months Gross margin Amounts in EUR million 2024 2023 2024 2023 [EUR millions] 55% 54% 52% 54% 51% Revenues 59 72 163 195 Europe 35 33 96 97 3Q20 3Q21 3Q22 3Q23 3Q24 Americas 6 15 26 43
Slide 11: Food P&L Highlights
Revenues Food P&L Highlights [EUR millions] 82 85 91 78 70 3rd Quarter Year-to-Date 9 Months Amounts in EUR million 2024 2023 2024 2023 3Q20 3Q21 3Q22 3Q23 3Q24 Revenues 78 70 220 239 Gross margin [EUR millions] Europe 29 20 72 73 43% 43% 42% 39% 40% Americas 31 32 98 112 Asia 9 7 26 21 3Q20 3Q21 3Q
Slide 12: Balance sheet and cash flow
Cashflow from operations Balance sheet and cash flow • Cash flow from operations of 99 MEUR in 3Q 2024 (-25 MEUR in 3Q 2023) Solidity and gearing 30 Sept 31 December • 40% equity ratio Amounts in EUR million 2024 2023 2023 • NIBD/EBITDA (rolling 12 months) of 1.9x ASSETS 1,489 1,418 1,469 Cash flow
Slide 13: Financial position
Financial position Financing Capital structure EUR millions 220 • 1,000 MNOK private placement of new 10-year senior unsecured 200 Undrawn credit facilities green bond on 2 October* 180 Drawn credit facilities • Weighted average debt maturity Capital Bonds and other loans of 2.2 years structure Low
Slide 14: Currency risk and hedging policy
Currency risk and hedging policy USD/EUR average 3Q24 vs 3Q23: -1.0% 104 103 102 Currency sensitivity 101 A strengthening/ weakening of EUR towards other 100 currencies of 10% would normally 99 decrease/increase EBITA by ~5%. USD/EUR 98 97 96 Hedging policy 95 3Q23 4Q23 1Q24 2Q24 3Q24 CASHFLOW AND P
Slide 15: 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 16: 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 17: www.tomra.com
www.tomra.com