Tomra Systems A/S/A S/Adr (TMRAY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning from Asker, ladies and gentlemen, and welcome to Tomra's second quarter results presentation for 2025. As always, CEO Tove Andersen will start today's presentation by giving you the highlights of the quarter, and afterwards, CFO Eva Sagamo will dive deeper into the numbers. And at the end of the presentation, we will open up for Q&A for participants in the Teams webinar. The Teams webinar link can be found in this morning's Stock Exchange release. We will conclude today's presentation at around 8.45. But without further ado, I give the word to CEO Trove Andersen. Good morning from me as well, and welcome to our Q2 results presentation. In this quarter, we have seen large variation in the market dynamics between our three divisions. In collection, there has been high activity related to preparation for Poland and Portugal's upcoming deposit return systems, while the quarterly revenue is down compared to same quarter last year, reflecting the facing of new deposit markets. Recycling delivers revenues in line with same quarter last year, but the order intake is weak due to struggling plastic segment and macroeconomic and tariff uncertainty, which is postponing customers' investment decisions. Food is the highlight in the quarter, delivering a record quarterly EBITDA, a record order intake and an all-time high order backlog. We do see encouraging signs of an improved market sentiment, and the benefits of the restructuring is visible in our P&L. Let me then take you through the different divisions. In collection, the second quarter reflects the facing of new markets. But let me say a few words about existing markets first. In existing markets, revenues continue to grow at a steady pace. We have been growing 5% in the first half year compared to the first half...