Tomra Systems A/S/A S/Adr (TMRAY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning from Asker, ladies and gentlemen, and welcome to Tomra's first quarter result presentation of 2025. My name is Daniel Sundahl, and I'm head of investor relations. As always, CEO Tove Andersen will start by giving you the highlights of the quarter, and afterwards, CFO Eva Sagamo will dive deeper into the numbers and present the updated outlook. At the end of the presentation, we will open up for Q&A for participants in the Teams webinar, and the link to the webinar can be found in today's Stock Exchange release. We aim to conclude the presentation around 8.40. But without further ado, I give the word to Tove Andersen. Thank you, Daniel, and welcome from me as well to our first quarterly result in 2025. We report today a good first quarter in line with our expectations, both on top and bottom line. I'm especially proud of Food in a Quarter, where we continue to see the benefits of the turnaround, and they report record-strong first quarter EBITDA and double-digit growth in both revenues and new orders. Let me then take you through the financial highlights. So we delivered a revenue of 306 million euros in the quarter, which is up 5% versus the same quarter last year. Collection was slightly down compared to a very strong quarter Q1 last year. Recycling in line with last year and then food 16% up. It's very nice to see the continued improvement in gross margin, which landed then at 43%, three percentage point up versus 10 quarter last year. We see improved margins in collection and also the high volumes and cost savings in food is improving the gross margins there. Our operating expenses is 3% up in the quarter at 104 million euros. We continue to have good cost control while we are investing in future opportunities. This then gave us an EBITDA of 26 millio...