Tomra Systems ASA

TOM

Equity

ISIN NO0012470089 / Valor 117400027

Oslo Stock Exchange (2024-12-23)

NOK 148.10-1.79%

Tomra Systems ASA
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About company

Tomra Systems ASA is a leading company in automated textile sorting, focusing on enabling textiles circularity through innovative strategies and technologies. Their expertise lies in transforming the textiles industry by implementing key beliefs to facilitate a transition to a circular value chain. With a strong emphasis on sustainability and efficiency, Tomra Systems ASA plays a crucial role in revolutionizing the way textiles are sorted and recycled, contributing to a more sustainable future for the industry.

Summarized from source with an LLMView SourceSector: Industrials

Revenue Performance

Tomra Systems ASA reported revenues of 333 MEUR for the second quarter of 2024, which is nearly flat compared to 332 MEUR in the same quarter of 2023. The revenue growth was driven by a 15% increase in the Collection segment, while the Recycling and Food segments saw declines of 15% and 16%, respectively. The decline in these segments was attributed to a softer market sentiment and a higher share of projects with longer lead times.

Gross Margin Improvement

The gross margin for Tomra Systems ASA in the second quarter of 2024 increased to 44%, up from 42% in the second quarter of 2023. This improvement was observed across all three divisions and was driven by a positive business and product mix as well as price adjustments. The margin improvements reflect the company's efforts to optimize its operations and pricing strategies.

Operating Expenses

Operating expenses for Tomra Systems ASA in the second quarter of 2024 were 101 MEUR, adjusted for special items, which is consistent with the previous two quarters. This represents a 6% increase from 96 MEUR in the same period last year, primarily due to business expansion and cost inflation. Special items included minor one-off costs of 0.5 MEUR related to the restructuring program in the Food segment.

EBITA and Earnings Per Share

EBITA for Tomra Systems ASA, adjusted for special items, amounted to 44 MEUR in the second quarter of 2024, compared to 46 MEUR in the same quarter of 2023. The corresponding EBITA margin was 13%, down from 14% in the previous year. Earnings per share (EPS), adjusted for special items, were 0.08 MEUR per share, down from 0.09 MEUR per share in the second quarter of 2023.

Cash Flow from Operations

Tomra Systems ASA reported a significant increase in cash flow from operations, which amounted to 34 MEUR in the second quarter of 2024, compared to 3 MEUR in the same period last year. This improvement was primarily due to better management of receivables. The company's liquidity position remains strong, with satisfactory levels of unused credit lines and a weighted average debt maturity of 2.4 years.

Summarized from source with an LLMView Source

Key figures

24.5%1Y

-51.6%3Y

3.93%5Y

Performance

51.1%1Y

46.6%3Y

43.3%5Y

Volatility