Norway's Tomra Systems Q3 revenue rises on growth across all divisions
Norway's Tomra Systems Q3 revenue rises on growth across all divisions
Overview
Norway recycling technology firm's Q3 revenue rose 20% yr/yr, driven by growth in all divisions
Adjusted EPS for Q3 rose 72% yr/yr to 0.08 EUR
Gross margin declined to 43% from 44.1%, mainly due to business mix in Collection
Outlook
Company says overall market sentiment in Recycling remains broadly unchanged
TOMRA expects resilience in Food segment due to broad exposure and healthy pipeline
Company sees ongoing modernization and replacement cycles supporting recurring revenues in Collection
Result Drivers
COLLECTION GROWTH - Revenue in Collection rose 21%, with 19% growth in existing markets and contributions from new markets including Poland, Singapore and Romania
RECYCLING ORDERS - Recycling revenue increased 34% and order intake rose 73%, supported by exceptionally large Mining orders and higher volumes
FOOD SEGMENT DIVERSIFICATION - Food revenue grew 13% as gains in categories like citrus, blueberries and vegetables offset weaker potato demand
Company press release: ID:nWkr3tcpsQ
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| EUR 366 mln |
|
Q3 Adjusted EPS |
| EUR 0.08 |
|
Q3 Gross Margin |
| 43.00% |
|
Q3 Adjusted EBITA |
| EUR 47 mln |
|
Q3 Operating Expenses |
| EUR 110 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Tomra Systems ASA is NOK127.50, about 36.9% above its October 22 closing price of NOK93.10
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 18 three months ago
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Oct 22 - Sweden's Atlas Copco Q3 revenue slightly beats estimates, orders up 29%
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)