Q1 2026 Tomra Systems ASA Earnings Call Transcript
Key Points
- Tomra Systems ASA (TMRAF) reported strong growth in the Food and Collection segments, with Collection achieving record revenues due to successful deliveries in Poland and Portugal.
- The company launched the T100, a new version of its flagship model T9, which is expected to be as successful as its predecessor.
- In the Food segment, revenue growth was observed in all main markets, with citrus now competing with potatoes as the largest category, showcasing the robustness of Tomra's diversified portfolio.
- The Horizon portfolio, including c-trace, reuse, and feedstock, is starting to generate revenues, with c-trace expected to deliver double-digit revenue growth this year.
- Tomra Systems ASA (TMRAF) is progressing well with its EUR16 million cost reduction program in the Recycling segment, which is expected to have a full effect by 2027.
- The Recycling segment experienced a significant drop in revenues due to weak market sentiment and low commercial activity, resulting in a negative EBITDA.
- Gross margins in the Collection segment were lower than the company's ambition of over 40%, impacted by a higher share of OEM sales and lower product margins in Poland.
- Order intake in the Food segment was down compared to a strong previous year, although the trailing 12-month order intake showed a 7% increase.
- The company faces challenges in the Recycling segment due to tariffs, low plastic prices, and macroeconomic uncertainty, affecting investment sentiment.
- Tomra Systems ASA (TMRAF) reported an increase in working capital and a decrease in return on capital employed (ROCE), reflecting inorganic investments and lower profitability in Recycling.
Good morning, ladies and gentlemen, and welcome to TOMRA's first quarter results presentation for 2026. My name is Daniel Sundahl. I'm Head of Investor Relations in TOMRA. We will, as usual, start today's presentation with CEO, Tove Andersen, giving you the highlights of the quarter, followed by a deep dive into the numbers from the CFO, Eva Sagemo.
At the end of the presentation, we will take questions from participants in the Team's webinar. A link to the webinar can be found in this morning's stock exchange release. But without further ado, I give the word to Tove Andersen.
Good morning, and welcome from me as well to our Q1 presentation 2026. We present today a quarter characterized by strong growth in Food and Collection, but with possibility impacted by short-term product mix effects in all segments and lower volumes in Recycling. However, the underlying development in the quarter in all segments
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