Tomra rises as Spain plans to introduce deposit return scheme in next 2 years

Tomra Systems ASA

25/11/2024 09:00

** Shares of Norwegian sustainable technology company Tomra
Systems  TOM.OL  jump 5.9% 
    ** Analysts point to Spain's plans to introduce deposit
return scheme within the next two years, boosting prospects for
TOM's machine sales in key markets
    ** Deposit return scheme enables consumers to return bottles
in exchange for incentives such as cash, vouchers or a
points-scheme
    ** "It usually takes two years or more to implement a scheme
at best, so there may be delays. Regardless, 2027 is set to be a
strong year for Tomra, with sales to UK and Spain driving most
uplift," Arctic Securities analyst Jeppe Baardseth says
    ** Baardseth adds, earnings TOM's per share in 2027 could
hit 0.7 euro, valuing shares at 16-17 times profit
    ** Shares are on track for a best day in four months 

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))