Slide 1: 1st Quarter 2017 Results Announcement
ST 1 QUARTER 2017 RESULTS ANNOUNCEMENT TOMRA SYSTEMS ASA 1st Quarter Results 28.04.2017
Slide 2: Highlights from the Quarter
HIGHLIGHTS FROM THE QUARTER • Revenues of 1,564 MNOK (1,360 MNOK in first quarter 2016) – Up 19% currency adjusted Adjusted for currency and acquisitions, revenues were: Revenues - Up 6% for TOMRA Group - Up 5% in TOMRA Collection Solutions - Up 8% in TOMRA Sorting Solutions • Gross margin 40%, down
Slide 3: Currency
CURRENCY Negative -2.4% impact from stronger NOK vs both USD and EUR. -5.7% 1Q16 2Q16 3Q16 4Q16 1Q17 Revenues and expenses per currency; NOTE: Rounded figures EUR* USD NOK NZD OTHER TOTAL Revenues 45 % 40 % 0% 0% 15 % 100 % Expenses 45 % 30 % 5% 5% 15 % 100 % EBITA 45 % 90 % - 25 % - 25 % 15 % 100 %
Slide 4: Financial Highlights: P&L Statement
FINANCIAL HIGHLIGHTS P&L STATEMENT 1st Quarter Amounts in NOK million 2017 2016 16 Adj* Revenues 1,564 1,360 1,313 • Collection Solutions 877 869 838 • Sorting Solutions 687 491 475 Gross contribution 633 574 554 in % 40% 42% 42% Operating expenses 475 421 409 EBITA 158 153 144 in % 10% 11% 11% *201
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 2017 2016 2016 ASSETS 7,927 7,152 7,115 • Intangible non-current assets 3,177 2,858 2,750 • Tangible non-current assets 856 795 801 • Financial non-current assets 349 306 342 • Invento
Slide 6: TOMRA Collection Solutions
TOMRA COLLECTION SOLUTIONS 6
Slide 7: Highlights Collection Solutions
HIGHLIGHTS COLLECTION SOLUTIONS • Revenues of 877 MNOK, up from 869 MNOK in first quarter 2016 - Revenues up 5% in local currencies • Gross margin was 40% in the period - Down from 41% last year, due to product mix Overall • Operating expenses of 207 MNOK - Up from 4% currency adjusted • EBITA of 14
Slide 8: Collection Solutions Financials
COLLECTION SOLUTIONS FINANCIALS 1st Quarter Amounts in NOK million 2017 2016 16 Adj* Revenues 877 869 838 • Nordic 139 158 • Europe (ex Nordic) 383 374 • US East/Canada 342 322 • Rest of the world 13 15 Gross contribution 351 352 338 in % 40% 41% 40% Operating expenses 207 205 200 EBITA 144 147 138
Slide 9: TOMRA Machines Installed in the German Market
GERMANY REPLACEMENT UPDATE TOMRA MACHINES INSTALLED IN THE GERMAN MARKET 2700 – 3700 MACHINES PER YEAR 1Q17 9
Slide 10: TOMRA Sorting Solutions
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Slide 11: Highlights Sorting Solutions
HIGHLIGHTS SORTING SOLUTIONS • Revenues equaled 687 MNOK in first quarter 2017, up from 491 MNOK in first quarter 2016 Revenues • Organic, currency adjusted revenues up 8% • Includes Compac with 175 MNOK in February and March • Gross margin at 41%, down from 45% same period last year Gross margin •
Slide 12: Business Stream Update
BUSINESS STREAM UPDATE FOOD • Revenues in 1Q17 up from 1Q16 (ex Compac) • Order intake up quarter over quarter, leading to an all time high order backlog at the end of 1Q17 (ex Compac) • Compac consolidated from 1 February 2017, ending the quarter with a backlog of 265 MNOK RECYCLING • Revenues in 1
Slide 13: Sorting Solutions Financials
SORTING SOLUTIONS FINANCIALS 1st Quarter Amounts in NOK million 2017 2016 16 Adj* Revenues 687 491 475 • Europe 207 205 • North America 252 157 • South America 25 4 • Asia 108 90 • Oceania 57 21 • Africa 38 14 Gross contribution 282 222 216 in % 41% 45% 45% Operating expenses 252 206 200 EBITA 30 16
Slide 14: Backlog Development and Momentum
BACKLOG DEVELOPMENT AND MOMENTUM • Tomra Sorting Solutions (TSS) without Compac: • Delivered all time high order intake of 682 MNOK in the quarter, compared to 661 MNOK same quarter last year • Revenues came in at 512 MNOK (up from 491 MNOK in 1Q16) • With an all time high order intake, and somewhat
Slide 15: Outlook and Shareholder Structure
OUTLOOK AND SHAREHOLDER STRUCTURE 15
Slide 16: Outlook
OUTLOOK • The replacement demand in Germany is assumed Collection to continue, but the replacement in Sweden is Solutions now finished • Currently good momentum in Food Sorting. Sorting • Somewhat higher commodity prices might Solutions improve momentum in Recycling and Mining going forward • Report
Slide 17: Q&A
Q&A 17
Slide 18: TOMRA Shareholder Structure
TOMRA SHAREHOLDER STRUCTURE Top 10 shareholders as of 05 April 2017 Shareholders by country 1 Investment AB Latour 38 651 000 26.1% 3% 2 Folketrygdfondet 9 529 819 6.4% 5% 5% 3 The Bank of New York BNY Mellon 7 845 000 5.3% (NOM) 6% 36% 4 Skandinaviska Enskilda (Client Account) 4 054 735 2.7% (NOM)
Slide 19: Disclaimer
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