Slide 1: 1st quarter 2023 results announcement
1st quarter 2023 results announcement Click to enter TOMRA Systems name ASA Place 28 April 2023 dd.mm.yy © TOMRA
Slide 2: Quarterly highlights
Quarterly highlights
Slide 3: Financial highlights
Revenues • Revenues were 3,239 MNOK, +29% (2,501 MNOK in the first quarter 2022) Adjusted for currency, revenues were: Financial — Up 17% for TOMRA Group — Up 18% in Collection — Up 15% in Recycling highlights — Up 15% in Food. Gross margin • Gross margin of 40% – in line with the margin in the firs
Slide 4: Our strategy is to accelerate growth in core and develop adjacent opportunities
Our strategy is to accelerate growth in core and develop adjacent opportunities while becoming a fully circular business and safe, fair and inclusive Our ambitions towards 2027 Net Zero Revenue growth EBITA margin Dividend payout Capital structure holistic sustainability 15% CAGR at 18% 40-60% of EP
Slide 5: Collection, Recycling, Food
Creating sensor-based solutions for optimal resource productivity - transforming how we obtain, use, and reuse resources Collection Recycling Food Click to enter name Place dd.mm.yy Publicly listed on Oslo Stock Exchange (OSEBX: TOM)
Slide 6: Collection Business update
Victoria – 1 November 2023 Collection Victoria announced its DRS start date on 14 April 2023, and that TOMRA Cleanaway will be one of three network operators. (link) The Tasmanian bottle bill was passed in 2022, but a start date is yet to be announced. (link) Business update Quebec – 1 November 2023
Slide 7: Recycling Business update
All-time high order backlog, up 30% (currency adj.) compared with Q1 2022 Recycling NOK millions 1 309 Business update 702 732 857 1Q20 1Q21 1Q22 1Q23 Updates • Record strong order intake and backlog with growth across all sorting segments: Waste, Plastic, Metal and Ore sorting • Second test facilit
Slide 8: Food Business update
Revenue up 15% (currency adj.) compared to Q1 2022 NOK millions 794 Food 649 609 618 Business update 1Q20 1Q21 1Q22 1Q23 Updates • Good performance in processed food with positive outlook • The outlook is somewhat weaker in fresh food • Reduced order backlog in the quarter • Very strong growth in th
Slide 9: Positioned to develop adjacent opportunities
Enabling automation in Digital business models textiles recycling Positioned to develop adjacent Collection systems for opportunities Closing the gap in reusable packaging plastic recycling 9
Slide 10: Financials and outlook
Financials and outlook
Slide 11: Group P&L Highlights
Revenues [NOK millions] 3 239 Group P&L Highlights 2 302 2 291 2 501 1st Quarter Amounts in NOK million 2023 2022 2022 Adj* 1Q20 1Q21 1Q22 1Q23 Revenues 3,239 2,501 2,771 Gross margin [% of Revenues] Collection 1,828 1,393 Recycling 617 489 42% 42% 40% 40% Food 794 618 Gross contribution 1,303 996 1
Slide 12: Collection P&L Highlights
Revenues [NOK millions] 1 828 Collection P&L Highlights 1 168 1 364 1 393 1st Quarter Amounts in NOK million 2023 2022 2022 Adj* 1Q20 1Q21 1Q22 1Q23 Revenues 1,828 1,393 1,543 Gross margin [% of Revenues] Northern Europe 268 246 Europe (ex Northern) 872 573 40% 42% 38% 39% North America 457 393 Rest
Slide 13: Recycling P&L Highlights
Revenues [NOK millions] 617 485 489 Recycling P&L Highlights 318 1Q20 1Q21 1Q22 1Q23 1st Quarter Gross margin [NOK millions] Amounts in NOK million 2023 2022 2022 Adj* 51% 50% 50% Revenues 617 489 538 48% Europe 327 309 1Q20 1Q21 1Q22 1Q23 Americas 156 94 EBITA Asia 106 47 [NOK millions] 112 92 Rest
Slide 14: Food P&L Highlights
Revenues [NOK millions] 794 649 618 Food P&L Highlights 609 1Q20 1Q21 1Q22 1Q23 1st Quarter Gross margin [NOK millions] Amounts in NOK million 2023 2022 2022 Adj* Revenues 794 618 690 40% 40% 37% 36% Europe 223 140 1Q20 1Q21 1Q22 1Q23 Americas 418 311 EBITA Asia 77 76 [NOK millions] Rest of the worl
Slide 15: Balance sheet and cash flow
Cash flow from operations [NOK millions] Balance sheet and cash flow 2,000 1,500 31 March 31 December 1,000 Amounts in NOK million 2023 2022 2022 ASSETS 14,777 11,821 13,932 500 Intangible non-current assets 4,400 3,742 4,132 0 Tangible non-current assets 2,838 2,269 2,671 Jan Feb Mar Apr May Jun Ju
Slide 16: Financial position
Financial position Debt maturity profile Current funding sources • Weighted average debt maturity of 2.8 years • TOMRA has a satisfactory liquidity situation with available unused credit lines of approx. 1,424 MNOK • Interest-bearing bonds are swapped to EUR and is exposed to EUR/NOK exchange rate f
Slide 17: Currency risk and hedging policy
Currency risk and hedging policy Measured against NOK *Average 1Q23 vs 1Q22 130 10% change in NOK towards other currencies will impact: 125 120 USD/NOK +15.7%* Revenues Expenses EBITA 115 EUR 5.0% 5.0% 5.0% 110 105 USD 3.0% 2.5% 6.0% 100 EUR/NOK +10.6%* OTHER1 2.0% 2.0% 2.0% 95 90 ALL 10.0% 9.5% 13.
Slide 18: 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 19: IRE TOMRA
IRE TOMRA
Slide 20: 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 21: www.tomra.com
www.tomra.com 21