Slide 1: Investor Presentation TOMRA Systems ASA
INVESTOR PRESENTATION TOMRA SYSTEMS ASA xx.xx.2018 © TOMRA
Slide 2: Did You Know?
DID YOU KNOW? • By 2025 solid waste generation will increase by 70% compared to 2010 levels • 32% of all plastic packaging made ends up in nature every year • 20% of plastic packaging could be profitably re-used and 50% could be profitably recycled if designed for after use systems • Continuing curr
Slide 3: Did You Know?
DID YOU KNOW? • By 2050, a global population of 9.8 billion will require 70% more food than is consumed today • We are currently wasting 33% of global food production • The food industry is worth more than USD 5 trillion annually • Agriculture accounts for 20% of global greenhouse gas emissions Sour
Slide 4: Our biggest global challenges = our business opportunities
OUR BIGGEST GLOBAL CHALLENGES = OUR BUSINESS OPPORTUNITIES Source: UN Environment 4
Slide 5: As the circular economy mindset evolves the need for sustainable solutions is accelerating
AS THE CIRCULAR ECONOMY MINDSET EVOLVES THE NEED FOR SUSTAINABLE SOLUTIONS IS ACCELERATING Moving from a Linear Economy… Resource Production Distribution Consumption Waste Extraction From Product → To Waste To a Circular Economy… Production Beverage and Packaging Industry Waste to Distribution √ Hig
Slide 6: Significant untapped potential to reuse good materials
SIGNIFICANT UNTAPPED POTENTIAL TO REUSE GOOD MATERIALS PLASTIC STEEL PAPER PACKAGING ~14% ~70-90% ~50-60% RECYCLED RECYCLED RECYCLED TODAY¹ TODAY¹ TODAY¹ VALUE VALUE VALUE PROPOSITION* PROPOSITION* PROPOSITION* $ 50–80 BN $ 70–150 BN $ 30–40 BN Total volume of plastic packaging is 78 mln tonne annua
Slide 7: New ways of feeding a fast growing demanding population
NEW WAYS OF FEEDING A FAST GROWING DEMANDING POPULATION To ensure an efficient food production there is an increased need to… …automate… Increase Reduce Yield waste The digital consumer… 88% of the next billion entering the middle class will Meet come from Asia consumer demands By 2030, Asia could r
Slide 8: TOMRA: Positioned towards megatrends
TOMRA: POSITIONED TOWARDS MEGATRENDS The world has undergone 5 major industrial cycles… …creating challenges and opportunities Strong megatrends: Opportunities for TOMRA 1 • Unrestricted access to resources Age of Information Degree of technological maturity and market saturation and Climate Change
Slide 9: Our solutions' impact in numbers
• Our solutions, in use around the globe, helped keep ~25 millions of tons of CO₂ from being released into the atmosphere in 2017 • ~35 bn used beverage containers are captured every year through our reverse vending machines • Our steam peelers process ~15 million tons of potatoes per year with a 1%
Slide 10: TOMRA at a glance
TOMRA AT A GLANCE 10
Slide 11: TOMRA at a glance
3550 7.4 BILLION NOK EMPLOYEES REVENUES 2017 GLOBALLY FOOD/TOBACCO RECYCLING MINING REVERSE VENDING MATERIAL RECOVERY Publicly listed on Oslo Stock Exchange (OSEBX: TOM) 11
Slide 12: Creating value through two strong business areas
CREATING VALUE THROUGH TWO STRONG BUSINESS AREAS* 2017 Revenue 2017 EBITA 100% 100% • High growth 80% • High margins 80% 38% 48% • Medium cyclicality 60% 60% 40% 40% • Stable • High margins 62% 52% • Low cyclicality 20% 20% 0% 0% Collection Sorting Collection Sorting High technology - sustainable bu
Slide 13: The TOMRA transformation journey
THE TOMRA TRANSFORMATION JOURNEY 2011 2012 2008 Sale of Californian material handling TOMRA acquires BEST, leading 2016 business. With the divestment the US food sorting machine producer. Through it's transformation TOMRA acquires With the acquisition of BEST, journey TOMRA has moved operation becam
Slide 14: TOMRA's two business areas
TOMRA’S TWO BUSINESS AREAS FOOD REVERSE VENDING Share of ‘17 sales ~33% ~38% Employees 1,110 1,375 Customers Food growers, packers and processors Grocery retailers Market share Bulk: ~25% Lane: ~25% ~75% RECYCLING MATERIAL RECOVERY Share of ‘17 sales ~12% ~15% Employees 185 500 Customers Material re
Slide 15: Installed base worldwide
INSTALLED BASE WORLDWIDE REVERSE VENDING RECYCLING MINING FOOD BULK FOOD LANE Nordic ~15,100 EMEA ~3,850 Europe ~20 EMEA ~3,100 EMEA ~435 Germany ~30,000 Americas ~800 US / Canada ~35 Americas ~2,850 Americas ~690 Other Europe ~14,600 Asia ~700 Australia ~5 Asia ~600 APAC ~555 North America ~16,000
Slide 16: Strengthen presence in China
STRENGTHEN PRESENCE IN CHINA Established in China since 2010 3 business streams active in China 2 wholly own subsidiary 2 joint ventures 2 test centers 2 assembly workshop 270 employees Beijing: - Joint venture Qingdao: - Service hub Kunshan: - COMPAC production Lanzhou: Hangzhou: - Service hub - Se
Slide 17: Making meaningful contribution along the way
MAKING MEANINGFUL CONTRIBUTION ALONG THE WAY Thematic Support: Future of Food & Circular Economy TOMRA’s mission is to create sensor-based solutions for optimal resource productivity, making sustainability profitable – with increased relevance and meaning The TOMRA Operations TOMRA’s Corporate Respo
Slide 18: TOMRA Collection Solutions
TOMRA COLLECTION SOLUTIONS 18
Slide 19: Did You Know?
DID YOU KNOW? • 1 million plastic bottles are bought around the world every minute • Less than half of all purchased plastic bottles are collected for recycling • ~ 35bn beverage containers are captured by TOMRA every year… • …representing only 2.5% of all beverage containers sold in 2017 Source: Eu
Slide 20: Increasing public pressure to reduce waste and littering
INCREASING PUBLIC PRESSURE TO REDUCE WASTE AND LITTERING Consumer awareness Producer Governmental responsibility policies Sources: EU Commission 20
Slide 21: Closing the plastic packaging loop represents vast potential
CLOSING THE PLASTIC PACKAGING LOOP REPRESENTS VAST POTENTIAL Source: AP 21
Slide 22: An overview of current deposit markets
AN OVERVIEW OF CURRENT DEPOSIT MARKETS* Northwest Territories (2005) Quebec Sweden (1984) Norway (1984) Yukon (1992) (1999) Finland Iceland (1996) (1989) Newfoundland Ontario (1997) Denmark Estonia (2007) (2002) (2005) British Columbia (1970) Prince Edwardian Lithuania Netherlands (2016) Island (200
Slide 23: Designing a deposit scheme – lengthy process from idea to law
DESIGNING A DEPOSIT SCHEME – LENGTHY PROCESS FROM IDEA TO LAW Many stakeholders around the table Illustrative legislation process Commitment from Consultation Draft period regulation Final regulation government NGOs Beverage industry Year 0 Year x Central government Technology providers Many questio
Slide 24: Upcoming deposit markets on the move
UPCOMING DEPOSIT MARKETS ON THE MOVE Scotland: Recently approved Commitment to a Container In progress Deposit Scheme announced in party program North America: Possible expansion of deposit system in England: Quebec Announced plans for a deposit scheme to reduce plastic pollution. Consultation perio
Slide 25: Container deposit scheme – reaffirmed as a proven solution
CONTAINER DEPOSIT SCHEME – REAFFIRMED AS A PROVEN SOLUTION Return rate and deposit value* for various container deposit schemes Return rate Deposit value in EUR Return rates in Lithuania 98% 95% 92% 92% 92% 92% Prior to 34% container deposit 66% scheme No deposit No deposit 43% ~40% End of 74% year
Slide 26: The benefits of reverse vending in a container deposit scheme
THE BENEFITS OF REVERSE VENDING IN A CONTAINER DEPOSIT SCHEME 1 Consumer buys Convenient beverage and engaging for customers 4 2 Beverage Collection by Better for manufacturing reverse vending business machines Better for 3 environment Material processing Source: Infinitum 26
Slide 27: Elements of a modern reverse vending system
ELEMENTS OF A MODERN REVERSE VENDING SYSTEM User communication Recognition system Sorting & processing Data administration 27
Slide 28: Undisputed market leader within reverse vending technology
UNDISPUTED MARKET LEADER WITHIN REVERSE VENDING TECHNOLOGY >80,000 10,000- 80,000 # of installed RVMs 5,000- 10,000 500- 5,000 <500 1-10 11-20 21-30 31-40 >40 Annual Number of RVM revenue from markets RVM sales Source: TOMRA estimates and analysis 28
Slide 29: Moving from a RVM supplier to global frontrunner within circular economy
MOVING FROM A RVM SUPPLIER TO GLOBAL FRONTRUNNER AND THOUGHT LEADER WITHIN CIRCULAR ECONOMY TOMRA 2018 TOMRA 2030 RVM supplier Business partner and service supporting customers’ supplier Profitable core processes clean loop recycling Technology Improve material Market driven innovator and value thou
Slide 30: Utilize our competitive advantages to generate greater customer value
UTILIZE OUR COMPETITIVE ADVANTAGES TO GENERATE GREATER CUSTOMER VALUE KEY STRENGHTS Product and Production Efficient Financial strength to Human resources Strenghten service capacity and new market support throughput to support the brand leadership supply chain entry business models growth awareness
Slide 31: Flexibility and scalability to enable new business models and new market entry
FLEXIBILITY AND SCALABILITY TO ENABLE NEW BUSINESS MODELS AND NEW MARKET ENTRY Redemption centers, small depots etc. Large depots, counting centers PRICE Discounters/Supermarkets Small stores 0.1 -0.3 M UBC/year 0.3 -1 M UBC/year 1-3 M UBC/year 3-5 M UBC/year 5 -15 M UBC/year 15 -50 M UBC/year CONTA
Slide 32: A complete digital portfolio designed to win
A COMPLETE DIGITAL PORTFOLIO DESIGNED TO WIN 1. Win in new markets 2. Drive solutions for volume and throughput growth initiatives 3. Support growth and increase TOMRA’s relevance in base markets 4. Industry leading fleet service & operations Consumer Applications Data Service and Services and SaaS
Slide 33: Engage consumers to drive volume in throughput markets
Engage consumers to drive volume in throughput markets Deliver a convenient and engaging recycling experience for consumers that increase the participation and drive volume through our installations. Partner with Facilitate and relevant players educate Modernize and enhance the consumer journey Shar
Slide 34: A dynamic organization catered for growth
A DYNAMIC ORGANIZATION CATERED FOR GROWTH Machine centric Holistic business partner FROM TO SALES & MARKETING Machine centric Holistic business partner FROM TO PRODUCT DEVELOPMENT AND DESIGN Dedicated and SUPPLY CHAIN FROM Decentralized TO centralized HQ HQ GEOGRAPHICAL PRESENCE FROM TO New Regions
Slide 35: Leverage existing capabilities for success into new markets
LEVERAGE EXISTING CAPABILITIES FOR SUCCESS INTO NEW MARKETS 1 2 3 4 5 Mapping of local Deposit system Design TOMRA Roll out TOMRA Long term parameters being designed solution solution operation New South Wales Queensland Scotland England Western Australia Utilize existing resources and knowledge bas
Slide 36: TOMRA Sorting Solutions
a Ta “eo TOMRA SORTING SOLUTIONS > > ~ @ “eS
Slide 37: Strong revenue growth since inception in 1996
STRONG REVENUE GROWTH SINCE INCEPTION IN 1996 Compac Revenue development and key milestones acquired MNOK 3,561 • Total revenue growth (organic plus inorganic) CAGR of ~30% per year Odenberg from 2004-2017 acquired — Average annual organic growth BEST acquired for the same period was ~17% Ultrasort
Slide 38: How does sensor based separation work?
HOW DOES SENSOR BASED SEPARATION WORK? • High-tech sensors to identify objects • High speed processing of information (material, shape, size, color, defect, damage and location of objects) • Precise sorting by air jets or mechanical fingers • Product specific equipment design often including multipl
Slide 39: Adoption of sensor-based sorting at different maturity levels
ADOPTION OF SENSOR-BASED SORTING AT DIFFERENT MATURITY LEVELS Maturity/ industry adoption FOOD RECYCLING MINING* Time * In certain mining sub-segments, such as industrial minerals and diamonds, sensor-based sorting is a more mature technology 39
Slide 40: A common sensor based technology portfolio
A COMMON SENSOR BASED TECHNOLOGY PORTFOLIO RECYCLING MINING FOOD ELECTROMAGNETIC SENSOR (EM) Electro-magnetic properties like conductivity and permeability X X X LED SPECTOMETRY (LED) Color and spectral properties based on multiple LED light X X X EM sources in very high optical resolution LED NEAR-
Slide 41: Our products are detecting a wide range of parameters
OUR PRODUCTS ARE DETECTING A WIDE RANGE OF PARAMETERS Color Shape & Size Removal of discolorations in mono- Sort on length, width, diameter, area, and mixed-color material broken-piece recognition, … Blemishes Biometric Characteristics Objects with spots or other (small) Sort based on water content
Slide 42: Examples of cross utilization of our sensor technologies
EXAMPLES OF CROSS UTILIZATION OF OUR SENSOR TECHNOLOGIES TITECH NIR + ODENBERG BEST LASER + TOMRA TITECH NIR + BEST LASER platform mining platform Field Potato Sorter PRO Laser Duo Nimbus BSI • The NIR technology allows • The LASER technology • An NIR sensor has been added efficient removal of rocks
Slide 43: The benefits of being TOMRA Sorting
THE BENEFITS OF BEING TOMRA SORTING 2017 Fresh Processed Our position: A solid platform for further growth Revenues ~MEUR 400m TOMRA Sorting Playing field < MEUR BÜHLER Only player in Channel, Indicated company size (revenues) 100m Chute, Belt and Lane MEIYA TAIHO < MEUR UNITEC 50m KEY MAF People ST
Slide 44: Entering new markets through mid-market strategy
ENTERING NEW MARKETS THROUGH MID-MARKET STRATEGY Creating competitive offering to fast growing mid-market High End Market 1 TOMRA firm positioning Mid Market 2 Enter with new Food channel sorter products Low End Market 3 Not to play Recycling Flake Sorter 44
Slide 45: Development in order intake and order backlog
DEVELOPMENT IN ORDER INTAKE AND ORDER BACKLOG ORDER INTAKE ORDER BACKLOG REVENUES • TOMRA Sorting Solutions (TSS): • Revenues of 1,112 MNOK, up from 831 MNOK last year • Order intake of 1,105 MNOK in the quarter, compared to 964 MNOK last year • Despite all time high revenues in the quarter, a stron
Slide 46: Food for thought
FOOD FOR THOUGHT • By 2050 we will be close to 10bn people • We will need more food in the next 40 years than all the harvests in history combined • But farmland is constant – at best • The food you eat will have travelled more than you have Sources: WEF 46
Slide 47: Food value chain is getting more complex and drives the food market towards new solutions
FOOD VALUE CHAIN IS GETTING MORE COMPLEX AND DRIVES THE FOOD MARKET TOWARDS NEW SOLUTIONS Food quality Brand Traceability Food waste and safety promise Production Distribution Consumption 47
Slide 48: Automation continues on a strong growth trajectory
AUTOMATION CONTINUES ON A STRONG GROWTH TRAJECTORY Robotics become cheaper, more Ensure advanced and quality and user-friendly safety From… To… Improve efficiency Higher labor cost and labor shortages Leverage data insight 48
Slide 49: Market growth expectations – Food
MARKET GROWTH EXPECTATIONS – FOOD ~1 400-1 500 MARKET DEFINITION FOOD Sensor-based sorting and grading equipment • Including color sorting ~1 100 • Excluding peripheral equipment and turn-key solutions Fresh and processed segment AFFECTING FACTORS MEUR Weather Raw material pricing conditions Manual
Slide 50: Three ways of sorting within the food segment
THREE WAYS OF SORTING WITHIN THE FOOD SEGMENT Free fall Free fall (Channel / Chute) 60 % Application Seeds, rice, grains Companies Buhler, Key, Best, A Satake, Daewon, Hefei, Orange B Sensor tech. Camera (simple) Belt Application Prepared /preserved Belt veg. and fruit 20% Companies Best, Key, Odenb
Slide 51: TOMRA has established the broadest footprint within food sorting
TOMRA HAS ESTABLISHED THE BROADEST FOOTPRINT WITHIN FOOD SORTING A B C Free fall Belt Lane SK NDF PFV Fresh Rice, Seeds & Nuts & Dried Processed Fruit, Vegetables and Potatoes Kernels Fruit Fruits & Veg Circa 40%* of annual global Circa 30%* of annual global Circa 25%* of annual global sorter sales
Slide 52: Food competitive landscape
FOOD COMPETITIVE LANDSCAPE A >3,000 B TOMRA competitive positioning # of installed machines • Size (revenues) • Widest range of applications 1,000- (150+) 3,000 • Broadest technology base • Geographic reach (~80 countries) • Market share in targeted segments • Bulk Sorting market share*: 25% • Lane
Slide 53: Food: applications and sensor technology
FOOD: APPLICATIONS AND SENSOR TECHNOLOGY POTATOES VEGETABLES NUTS DRIED FRUIT SEEDS & GRAINS Chips, French fries, peeled, Beans, beets, broccoli, carrots, Almonds, cashews, hazelnuts, Apricots, cranberries, dates, Barley, coffee, corn, dry specialty products, sweet corn, cucumbers, industrial macada
Slide 54: Our food sorting customers
OUR FOOD SORTING CUSTOMERS 54
Slide 55: New sensor technologies will unlock new opportunities
NEW SENSOR TECHNOLOGIES WILL UNLOCK NEW OPPORTUNITIES… From measuring visual appearance... … to measuring Internal defects Taste Shelf life / Freshness Food hazards 55
Slide 56: Resources are finite
RESOURCES ARE FINITE • Today: we are paying to get rid of our waste through landfill fees and incineration • We are wasting perfectly good materials that can be reused • Tomorrow: The Circular Economy is a driver for change • Creating value out of waste • That is what the Circular Economy is all abo
Slide 57: The circular economy drives a legislative push
THE CIRCULAR ECONOMY DRIVES A LEGISLATIVE PUSH… Continued ambitious EU regulations and recycling targets: From Green Fence to National Sword: Short-term demand Attracts capital and drives investments for recycling solutions in waste exporting countries “A common EU target for recycling 70% of packag
Slide 58: 2018 Circular Economy Package – promoting recycling
…PROMOTING RECYCLING Description Targets and measures Waste • Rules on how waste should be managed in the EU. It provides general Framework principles for doing so, such as the Waste Hierarchy, Polluter Pays Principle • A common EU target for recycling Directive and Extended Producer Responsibility.
Slide 59: …and also creates a market pull
…AND ALSO CREATES A MARKET PULL 100% reusable, recyclable or compostable plastic packaging by 2025 Follow their lead Large companies committing to use recycled raw materials = increased demand for recycled offtake Source: Ellen McArthur Foundation @ World Economic Forum 59
Slide 60: Recycling: market growth expectations
RECYCLING: MARKET GROWTH EXPECTATIONS MARKET DEFINITION RECYLING 290-310 Sensor-based sorting equipment • Excluding cullet glass sorting • Excluding peripheral equipment and turn-key 180 solutions MEUR AFFECTING FACTORS Tightening regulation Access to capital Commodity price Consumer awareness fluct
Slide 61: Recycling: competitive landscape
RECYCLING: COMPETITIVE LANDSCAPE >3,000 TOMRA competitive positioning # of installed machines • Largest installed base • Highest revenues 1,000- 3,000 • Broadest technology platform • Highest number of applications and markets served • Leading brand • Market share: 55-65% 0-1,000 10-25 25-50 >50 mar
Slide 62: Recycling: applications and sensor technology
RECYCLING: APPLICATIONS AND SENSOR TECHNOLOGY MUNICIPAL SOLID WASTE PACKAGING UPGRADING PLASTICS Hard plastics, plastic film, Plastics, plastic film, PET, PE, PP, flakes mixed paper, RDF, cardboard, mixed paper, metals, deinking paper, metal NIR, VIS, EM organics/biomass NIR, VIS, EM NIR, VIS, XRT,
Slide 63: Sensor-based technology creates value in various parts of a recycling process
SENSOR-BASED TECHNOLOGY CREATES VALUE IN VARIOUS PARTS OF A RECYCLING PROCESS Life cycle of Steel from End-of-life vehicles Cars in use Export of second-hand cars Shredded material will get recovered and upgraded by our sorters (FINDER, COMBISENSE, X-TRACT) Collection of cars and various scrap Coppe
Slide 64: Industrializing the process for recycled plastic
INDUSTRIALIZING THE PROCESS FOR RECYCLED PLASTIC Reverse vending Sorting Sorting Washing Extrusion GOALS NDA NDA • Create a demand for the plastic through a process WASTE SORTING PLANTS • Output to be of high WASTE INCINERATION quality in order to LANDFILL Collection Reprocessing Virgin plastics rep
Slide 65: Intelligent mine
INTELLIGENT MINE • Mining is an old industry. But chances are that it will it look very different in 10 years time • Energy intensity and water stress are major drivers… • …for disruptive technology forces to reshape the industry • Commodity prices and capex impact the investment sentiment
Slide 66: Mining: market growth expectations
MINING: MARKET GROWTH EXPECTATIONS Total annual market size MARKET DEFINITION MINING EUR million Sensor-based sorting equipment • is still a technology to be accepted • Growth is conditional on new applications and technologies being developed AFFECTING FACTORS 120 Political climate Access to capita
Slide 67: Mining: applications and sensor technology
MINING: APPLICATIONS AND SENSOR TECHNOLOGY INDUSTRIAL MINERALS DIAMONDS FERROUS METALS Calcite, quartz, feldspar, Diamonds, emeralds, Iron, manganese, magnesite, talc, dolomite, rubies, chromite limestone, rock salt, sapphires, tanzanite phosphates, potash XRT, EM, NIR COLOR, XRT, NIR COLOR, XRT, NI
Slide 68: The concept of sensor-based sorting in mining
THE CONCEPT OF SENSOR-BASED SORTING IN MINING Mining process: Mining process: Industrial minerals Metal mining Run of Mine (ROM) Run of Mine (ROM) Primary Crushing Primary Crushing Secondary Crushing Sensor Based Sorting Waste Sensor Based Sorting • 15% to 50% of the ROM Beneficiation Plant: can be
Slide 69: Mining: competitive landscape
MINING: COMPETITIVE LANDSCAPE >200 TOMRA competitive positioning # of installed machines • Wide geographical coverage • Broadest technology platform 50-200 • Leading brand • Market share: 40-50% 0-50 10-25 25-50 >50 markets markets markets Revenue from sensor- based sorting Geographic presence Sourc
Slide 70: Historical group financials and targets
HISTORICAL GROUP FINANCIALS AND TARGETS 70
Slide 71: Group financials development – solid track record
GROUP FINANCIALS DEVELOPMENT – SOLID TRACK RECORD Revenues Gross Contribution and margin 8,000 3,500 50% 7,000 45% 3,000 40% 6,000 2,500 35% 5,000 30% MNOK 2,000 MNOK 4,000 25% 1,500 20% 3,000 1,000 15% 2,000 10% 1,000 500 5% 0 0 0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2007 2008 20
Slide 72: Group financial targets 2018-2023 – our ambitions affirmed
GROUP FINANCIAL TARGETS 2018-2023 – OUR AMBITIONS AFFIRMED Dividend Revenue payout growth EBITA- Capital margin Structure ROCE new 40-60% projects >10% of EPS Maintain investment >18% grade >20% 72
Slide 73: A comment on the capital expenditure needs
A COMMENT ON THE CAPITAL EXPENDITURE NEEDS Illustrative revenue profiles for the two main type of container deposit schemes Profit Uncertainties around timing and design of each new container deposit scheme can have significant impact on the revenue profile for Collection Solutions. Time Sales-to-Se
Slide 74: Financial highlights: balance sheet, cash flow and capital structure
FINANCIAL HIGHLIGHTS BALANCE SHEET, CASH FLOW AND CAPITAL STRUCTURE 30 Sept 30 Sept 31 Dec Amounts in NOK million 2018 2017 2017 ASSETS 9,117 8,214 8,437 • Intangible non-current assets 3,653 3,314 3,412 • Tangible non-current assets 1,129 848 998 • Financial non-current assets 327 307 349 • Invento
Slide 75: Currency risk and hedging policy
CURRENCY RISK AND HEDGING POLICY 10% change in NOK towards other Overall limited currencies will impact: currency effect, +2.5%* still: Revenues Expenses EBITA TCS: EUR* 4.5% 4.0% 5.0% Positive impact from both USD 4.5% 3.0% 10.0% stronger EUR +3.5%* and USD vs NOK. NZD 0.0% 0.5% -2.0% OTHER 1.0% 2.
Slide 76: Collection Solutions – segment financials
COLLECTION SOLUTIONS – SEGMENT FINANCIALS Revenue development Gross and EBITA margin development NOK million Percent 4000 50 44 45 42 42 42 42 3500 40 41 40 41 41 39 40 3000 35 2500 30 2000 25 20 21 20 20 20 21 19 18 20 1500 16 14 14 15 1000 10 500 5 0 0 2007 2008 2009 2010 2011 2012 2013 2014 2015
Slide 77: Sorting Solutions – segment financials
SORTING SOLUTIONS – SEGMENT FINANCIALS Revenue development Gross and EBITA margin development NOK million Percent 3500 70 64 62 62 3000 58 60 54 51 2500 50 45 45 45 45 43 2000 40 28 1500 30 26 22 1000 17 18 17 20 12 13 12 11 11 500 10 0 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2007 2
Slide 78: Shareholder structure
SHAREHOLDER STRUCTURE Top 10 shareholders as of 03 October 2018 Shareholders by country 1 Investment AB Latour 39 000 000 26,3 % 2 Folketrygdfondet 11 735 490 7,9 % 9% 3 The Bank of New York, Stichting Depositary 7 845 000 5,3 % (NOM) 6% 4 Clearstream Banking 3 964 496 2.7 % (NOM) 6% 36% 5 Goldman S
Slide 79: 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