Tomra jumps as new CEE markets drive Q2 beat

Tomra Systems ASA

19/07/2024 09:42

** Shares in Tomra  TOM.OL  rise 8.7% after the Norwegian
waste management provider posted its Q2 results above estimates
    ** The company posts adjusted EBITA of EUR 44 million ($48
million), nearly 30% above the consensus estimate of EUR 34 mln
    ** Revenues in the Collection segment were driven by new
markets, Arctic securities analyst Jeppe Baardsen says,
highlighting Romania and Austria as particularly strong
    ** Handelsbanken analyst Timo Heinonen says divisions were
stronger than expected, and notes that Collection revenue was up
15% y/y and landed 12% ahead of consensus
    ** Share is on track for its best day since March

($1 = 0.9190 euros)

 (Reporting by Tilla Sjaavaag)
 ((tilla.sjaavaag@thomsonreuters.com))