Tomra Systems Asa · OSL:TOM
Tomra Systems Asa — Q1 2015 Earnings Presentation
22 slides from Tomra Systems Asa's earnings presentation, Apr 24, 2015
Slide 1: 1st Quarter 2015 Results Announcement
ST 1 QUARTER 2015 RESULTS ANNOUNCEMENT TOMRA SYSTEMS ASA 24th April 2015
Slide 2: Highlights from the Quarter Include
HIGHLIGHTS FROM THE QUARTER INCLUDE • All time high order intake of 573 MNOK compared to 488 MNOK same period last year Orders TOMRA • All time high order backlog of 822 MNOK, up from 657 MNOK at the end of fourth Sorting quarter 2014 • Revenues of 1,107 MNOK (1,022 MNOK in first quarter 2014). Curr
Slide 3: Currency
CURRENCY +27.2% Positive +24.5% impact of stronger USD and EUR, partly offset by negative +4.6% CNY effect 1Q14 2Q14 3Q14 4Q14 1Q15 Revenues and expenses per currency; NOTE: Rounded figures EUR* USD NOK SEK OTHER TOTAL Revenues 45 % 30 % 5% 10 % 10 % 100 % Expenses 45 % 25 % 10 % 10 % 10 % 100 % EBI
Slide 4: Financial Highlights: P&L Statement
FINANCIAL HIGHLIGHTS P&L STATEMENT 1st Quarter Amounts in NOK million 2015 2014 14 Adj* Revenues 1,107 1,022 1,127 • Collection Solutions 699 633 702 • Sorting Solutions 408 389 425 Gross contribution 473 445 487 in % 43% 44% 43% Operating expenses 369 338 368 EBITA 104 107 119 in % 9% 10% 11% One t
Slide 5: Financial Highlights: Balance Sheet, Cash Flow and Capital Structure
FINANCIAL HIGHLIGHTS BALANCE SHEET, CASH FLOW AND CAPITAL STRUCTURE 31 March 31 March 31 Dec Amounts in NOK million 2015 2014 2014 ASSETS 6,412 5,661 6,625 • Intangible non-current assets 2,583 2,485 2,623 • Tangible non-current assets 701 586 683 • Financial non-current assets 317 297 307 • Invento
Slide 6: New Geographic Segments
NEW GEOGRAPHIC SEGMENTS Old segments 2014 New segments 2014 Figures in NOK m illion 1Q14 2Q14 3Q14 4Q14 Total Figures in NOK million 1Q14 2Q14 3Q14 4Q14 Total Collection Solutions Collection Solutions Revenues Revenues - Nordic 101 107 84 125 417 - Nordic 101 107 84 125 417 - Central Europe & UK 293
Slide 7: Highlights from the 2015 AGM
HIGHLIGHTS FROM THE 2015 AGM • The annual general assembly took place 23 April 2015 at TOMRA HQ in Asker, Norway • Dividend of NOK 1.45/share (up from NOK 1.35/share last year) was approved - Payment date 5 May 2014 • New Chairman: Jan Svensson • New Board member: Linda Bell (CEO PhosphonicS Ltd) •
Slide 8: TOMRA Collection Solutions
TOMRA Collection Solutions 8
Slide 9: Highlights Collection Solutions
HIGHLIGHTS COLLECTION SOLUTIONS • Revenues equaled 699 MNOK in first quarter 2015, up from 633 MNOK in first quarter 2014 - Adjusted for currency, revenues were down 1% • Gross margin was 42% - Negative mix effect from higher Material Recovery revenues Overall • Operating expenses equaled 183 MNOK,
Slide 10: Collection Solutions Financials
COLLECTION SOLUTIONS FINANCIALS 1st Quarter Amounts in NOK million 2015 2014 14 Adj* Revenues 699 633 702 • Nordic 118 101 • Europe (ex Nordic) 272 294 • North America 299 234 • Rest of the world 10 4 Gross contribution 291 271 297 in % 42% 43% 42% Operating expenses 183 160 177 EBITA 108 111 120 in
Slide 11: T-90, the Next Machine Built on the T-9 Platform
T-90, THE NEXT MACHINE BUILT ON THE T-9 PLATFORM Tomra Collection Solutions will introduce another innovative reverse vending machine, the T-90, in the fall this year. Utilizing the same revolutionary technology platform (Flow Technology) as the T-9, the T-90 will provide unique benefits related to
Slide 12: TOMRA Sorting Solutions
TOMRA Sorting Solutions IE TOMRA
Slide 13: Highlights Sorting Solutions
HIGHLIGHTS SORTING SOLUTIONS • Revenues were up 5% compared to first quarter 2014 Revenues — Adjusted for currency effects revenues were down 4%, due to timing of installations Gross margin • Gross margin stable at 45% • Operating expenses increased from 171 MNOK in first Operating quarter 2014 to 1
Slide 14: TSS New Product Launches (12 Months)
TSS NEW PRODUCT LAUNCHES (12 MONTHS) Food & Specialty Products Blizzard Falcon Nimbus BSI Modus Sentinel II Camera/Pulsed LED Pre-sorter camera Laser/ camera sorter Optical Size Grader Camera/Pulsed LED sorter Lettuce IQF Fruit & Vegetables, Nuts, Carrots & Potatoes sorter IQF Fruit & Vegetables Gro
Slide 15: Business Stream Update
BUSINESS STREAM UPDATE FOOD • Revenues were slightly down in 1Q15 compared to 1Q14. • Good order intake during 1Q15, significantly better than both 1Q14 as well as recent quarters. • Limited number of orders taken P/L, combined with good order intake has further improved the order backlog, currently
Slide 16: Sorting Solutions Financials
SORTING SOLUTIONS FINANCIALS 1st Quarter Amounts in NOK million 2015 2014 14 Adj* Revenues 408 389 425 • Europe 208 163 • North America 111 146 • South America 13 6 • Asia 59 59 • Oceania 11 5 • Africa 6 10 Gross contribution 182 174 190 in % 45% 45% 45% Operating expenses 178 171 184 EBITA 4 3 6 in
Slide 17: Backlog Development and Momentum
BACKLOG DEVELOPMENT AND MOMENTUM • Good order intake (all time high in NOK), combined with few orders taken to P/L, created a strong order backlog at the end of first quarter 2015 (all time high) • Estimated backlog conversion ratio in 2Q15: 65- 70%* * Based upon current production and delivery plan
Slide 18: Business Outlook
Business Outlook IE TOMRA
Slide 19: Outlook
OUTLOOK Collection Solutions: • No new markets are expected to generate significant revenues in the coming quarters, but replacement opportunities in the German market are expected to improve performance going forward. • On the back of a somewhat weak first quarter 2015, activity is expected to deve
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Slide 21: 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 22: TOMRA Shareholder Structure
TOMRA SHAREHOLDER STRUCTURE Top 10 shareholders as of 31st of March 2015 Shareholders by country 1 Investment AB Latour 35 690 000 24.7% 2 Folketrygdfondet 15 299 512 10.7% 9% 5% 3 Skandinaviska Enskilda A/C Clients account 5 015 560 3.4% (NOM) 6% 30% 4 Jupiter European Fund 4 329 651 2.9% 9% 5 Nord