TOMRA: 5% revenue growth and continued profitability improvement driven by strong performance in Food

TOMRA, the global technology leader in sensor-based solutions for optimalresource productivity, announces its financial results for the first quarter2025.

Tove Andersen, President and CEO of TOMRA Systems ASA comments:

"TOMRA delivers a good first quarter. I'm proud of the turnaround Food isdemonstrating, achieving a record strong first-quarter EBITA and double-digitgrowth in both revenues and new orders. Collection revenues were down a modesttwo percent. Lower activity in new markets is as expected, but Romaniadeliversa record quarter and we see good growth in existing markets. Recyclingdeliversa quarter with revenues in line with last year's first quarter and with a loworder intake. Trade tensions are leading to increased market uncertainty whichimpacts our Recycling customers. Looking forward we expect a year with highactivity for TOMRA, with a solid order backlog in Recycling, a reinvigoratedFood division, and new market activity gradually picking up in Collection asPoland and Portugal prepare for DRS implementation."

Revenues in TOMRA Group amounted to 306 MEUR in the quarter (1Q24: 291 MEUR),anincrease of 5% from last year. Collection revenues were down 2% from a strongfirst quarter last year to 185 MEUR (1Q24: 189 MEUR). In Recycling, revenueswere down 1% to 46 MEUR (1Q24: 46 MEUR), marginally lower than the estimatedbacklog conversion ratio for the quarter. In Food, revenues grew 16% to 70MEUR(1Q24: 60 MEUR), in line with the estimated backlog conversion ratio.

The order backlog in Recycling was down 2% to 122 MEUR (1Q24: 125 MEUR) afterasoft order intake which was down 16% to 61 MEUR in the quarter (1Q24: 73MEUR).In Food, the order intake was up 13% to 87 MEUR (1Q24: 76 MEUR), which was thehighest first quarter order intake in three years. The Food order backlog grew6% to 125 MEUR (1Q24: 118 MEUR).

Gross margin for TOMRA Group increased to 43% in the quarter (1Q24: 40%). TheCollection gross margin improved to 41% (1Q24: 40%). Low volumes and productmixeffects in Recycling translated into a lower gross margin of 45% (1Q24: 48%).The gross margin in Food increased to 44% (1Q24: 37%) as a result of lastyear'scost savings program and strong first quarter volumes.

Operating expenses increased 3% to 104 MEUR in the quarter (1Q24: 101 MEURadj.for special items). No special items were booked in the quarter (1Q24: -1.6MEUR).

EBITA increased 69% to 26 MEUR in the quarter (1Q24: 15 MEUR, adj.) with acorresponding EBITA margin of 8% (1Q24: 5%, adj.). Higher volumes and lowercosts yielded an EBITA margin of 5% in Food (1Q24: -10%, adj.). The loweractivity in Recycling resulted in an EBITA margin of -1% (1Q24: 1%) while inCollection the EBITA margin was in line with last year's at 16% (1Q24: 16%).

Earnings per share increased to 0.03 EUR in the quarter (1Q24: 0.01 EUR,adj.).

Highlights 1st quarter 2025

(growth figures are from the corresponding period last year)

· Revenues amounted to 306 MEUR (1Q24: 291 MEUR) in TOMRA Group, up 5% · Revenue growth of -2% in Collection, -1% in Recycling, and 16% in Food · Gross margin of 43% (1Q24: 40%) · Operating expenses up 3% to 104 MEUR (1Q24: 101 MEUR, adj. for specialitems) · EBITA was 26 MEUR (1Q24: 15 MEUR, adj.), up 69% · EPS up 318% to 0.03 EUR (1Q24: 0.01 EUR, adj.). · Cash flow from operations was 65 MEUR (1Q24: 19 MEUR) · Recycling order intake down 16% to 61 MEUR (1Q24: 73 MEUR)and order backlog down 2% to 122 MEUR (1Q24: 125 MEUR) · Food order intake up 13% to 87 MEUR (1Q24: 76 MEUR)and order backlog growth of 6% to 125 MEUR (1Q24: 118 MEUR)

Webcast

President & CEO Tove Andersen and CFO Eva Sagemo will present the resultstodayat 08:00 CEST. The presentation and Q&A session will be sent via live webcastand will be available on demand shortly after the presentation:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250507_3

Analysts and investors who would like to actively participate in the live Q&Asession must register separately for the TEAMS webinar:

https://events.teams.microsoft.com/event/45c980f4-535e-4aa1-ba9d-69c1929caac9@4308d118-edd1-4300-8a37-cfeba8ad5898

Asker, 7 May 2025

TOMRA Systems ASA

For questions, please contact:

Daniel Sundahl, VP Head of IR: +47 913 61 899Eva Sagemo, CFO: +47 934 39 911

For media inquiries, please contact:

Mathilde Hellenes, VP Public Relations: +47 456 78 255

TOMRA develops solutions that enable circular economies and optimal resourceproductivity through automated identification, collection, grading, andsortingof resources. We optimize how resources are obtained, used, and reused -turningwaste into valuable resources. Our vision is to lead the resource revolutionandenable a world without waste.

TOMRA has approximately 113,700 installations in over 100 markets worldwide.TheGroup had total revenues of EUR 1,348 million in 2024 and employs 5,300 peopleglobally. TOMRA Systems ASA is publicly listed on the Oslo Stock Exchange(OSE:TOM). For further information about TOMRA, please visit www.TOMRA.com

This information is subject to the disclosure requirements pursuant to section5-12 of the Norwegian Securities Trading Act.

https://newsweb.oslobors.no/message/645475