Brief: Tomra Systems Posts Record High Order Backlog In Q1

Tomra Systems ASA

26/04/2024 06:12

April 26 (Reuters) - Tomra Systems ASA  TOM.OL :
    * IN Q1,LOW BACKLOG CONVERSION AND SOLID ORDER INTAKE OF 881
MNOK
AND 924 MNOK FOR RECYCLING AND FOOD RESULTED IN RECORD HIGH
ORDER BACKLOG
    * ON RECYCLING: MARKET ACTIVITY NORMALIZING AFTER
EXTRAORDINARY
HIGH GROWTH IN 2022 AND 2023
    * ON RECYCLING: MARKET SENTIMENT CURRENTLY SOFTER LEADING TO
SLOWER EXPECTED GROWTH IN THE SHORT TERM
    * ON FOOD: CHALLENGING MACROECONOMIC ENVIRONMENT AND POOR
HARVESTS
ARE DELAYING CUSTOMER INVESTMENTS
    * ON FOOD: MEDIUM TO LONG TERM OUTLOOK REMAINS POSITIVE AS
CUSTOMERS FACE CHALLENGES WITH ACCESS TO LABOR, HIGHER LABOR
COSTS AND INCREASED QUALITY AND SAFETY REQUIREMENTS
    * IN Q1, LOWER RECYCLING AND FOOD VOLUMES OFFSET UNDERLYING
GROSS
MARGIN IMPROVEMENTS OVER THE LAST YEAR
    * Q1 OPERATING EXPENSES NOK 1,157 MILLION

Source text for Eikon:  ID:nWkr7R4MyC 
Further company coverage:  TOM.OL 

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