Pareto maintains 'buy' on Tomra, says risk-reward never more attractive

Tomra Systems ASA

10/04/2026 11:54

** Pareto reiterates "buy" rating on Norwegian waste manager Tomra Systems TOM.OL, maintains PT of NOK 197

** Says investor sentiment remains muted even though Deposit Return Schemes are rolling out across Europe, with Tomra maintaining its leading position - a scenario the market once paid a premium for

** "Risk/reward in Tomra has never looked more attractive to us," brokerage says

** Adds global installed base of reversed vending machines will expand to around 300,000 over the next 5-7 years from around 110,000 today, with Tomra holding around 50% market share

** Estimates Tomra's Q1 adjusted EBITA at about EUR 43 million ($50 million), broadly in line with consensus; expects market to welcome continued margin expansion

** Tomra shares up about 6% at ~NOK 126, among top movers on the STOXX 600 .STOXX

($1 = 0.8544 euros)

(Reporting by Alexander Klyve Gudbrandsen and Boleslaw Lasocki)

((alexanderklyve.gudbrandsen@thomsonreuters.com))