Tomra Systems ASA (TMRAY) Q1 2025 Earnings Call Transcript

2025-05-10 11:33:02 ET

Tomra Systems ASA (TMRAY)

Q1 2025 Results Conference Call

May 7, 2025 2:00 AM ET

Company Participants

Daniel Sundahl - Head of Investor Relations

Tove Andersen - Chief Executive Officer

Eva Sagemo - Chief Financial Officer

Conference Call Participants

Elliott Jones - Danske Bank

Adela Dashian - Jefferies

Victoria Adesina - Barclays

Thomas Naess - SpareBank

Presentation

Daniel Sundahl

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 Sagemo 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.

Tove Andersen

Thank you, Daniel, and welcome from me as well to our first quarterly results 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 quarter where we continue to see the benefits of the turnaround, and they report record strong first quarter EBITA 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 EUR306 million 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%, 3 percentage point up versus same 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 EUR104 million. We continue to have good cost control while we are investing in future opportunities.

This then gave us an EBITA of EUR26 million. There were no special items in the quarter, and we have delivered a strong cash flow from operations of EUR65 million. Going then to order intake. The Recycling order intake was soft in the quarter at EUR61 million, but we'll end the quarter with a solid order backlog of EUR122 million. Food had a strong order intake in a quarter of EUR 87 million and also there we enter Q2 with a strong order backlog of EUR125 million....

Read the full article on Seeking Alpha

For further details see: