Tomra Systems A/S/A S/Adr (TMRAY) Q2 2026 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 2026. My name is Daniel Sundahl and I'm head of investor relations. As always CEO Tove Andersen will start today's presentation by giving you the highlights of the quarter and afterwards CFO Eva Sagemo will dive deeper into the numbers and present our updated outlook. At the end of the presentation we will open up for Q&A for participants in the team's webinar. A link to the team's webinar can be found in this morning's Stock Exchange release. But without further ado, I give the word to CEO Tove Andersen. Thank you, Daniel, and a good morning and warm welcome for me as well to our Q2 2026 presentation. This quarter, record installations of RVMs in Poland contributed to all-time high revenues for Tomra Group. Poland is now our second largest deposit market in Europe. And our leading position provides a solid foundation to continue to grow from over the next years, in line with our ambition for all new deposit markets to come. Collection revenues grew 45%, mainly due to Poland, but also Portugal, Singapore and Romania contributed. And we had good growth in existing markets. The high number of RVM sales as a share of total revenues in the quarter translates into a decline in collections gross margin, while the division's EBITDA increased with 58%. Recycling revenues were down 11% following the decline in orders over the past year. The gross margin improved due to product mix, and for the first time in over a year, the division saw growth in the order intake. Food delivered 5% growth, but lower gross margin due to that we still delivered a large share of third party peripheral equipment. The market sentiment is positive, but we currently see a lower pipeline conver...