Is Poland driving the performance of Norway’s Tomra? The company has released new figures

Tomra’s revenue amounted to EUR 366 million. This represents an increase of 20 percent compared with the same period last year, when the company reported EUR 306 million. Pre-tax profit rose from EUR 23 million to EUR 35 million. According to Bloomberg, analysts had expected revenue of EUR 346 million and a profit of EUR 27 million. Following the publication of the report, Tomra shares rose by around 8 percent, reaching NOK 100 per share.

The Collection segment, which is responsible for deposit-return systems, made the largest contribution to the group’s growth. Its revenue increased from approximately EUR 179 million to EUR 217 million. The strongest sales growth was recorded in Germany, North America and Australia. New deposit-return markets, including Poland, Singapore and Romania, generated a combined additional EUR 24 million in revenue.

Tomra is also preparing to expand its operations in the United Kingdom. The first equipment installations have already begun, although the main rollout of the system is planned for 2027. The UK deposit-return system covering bottles and cans is expected to start operating on 1 October 2027. According to Tomra, this market will cover around 26 billion bottles and cans annually, making it the second-largest deposit-return market after Germany.

The situation in the Recycling segment, which produces machinery for sorting materials intended for recycling, has also improved. After several weaker quarters, adjusted EBITA operating profit reached EUR 6 million. A year earlier, the segment reported a loss of EUR 3 million at this level. The value of new orders simultaneously increased from EUR 42 million to EUR 73 million.

A significant share of new orders consisted of major contracts related to the mining industry. Their value amounted to EUR 26 million, while demand for plastic recycling equipment remained weak. As early as the first quarter, Tomra reduced employment in this segment by 175 positions in order to achieve annual savings of around EUR 16 million. The company’s CEO, Tove Andersen, points out that cost-cutting measures are improving profitability, but the market situation remains largely unchanged.

Tomra’s share price had previously been affected by France’s decision to abandon plans to introduce a nationwide deposit-return system. Despite Friday’s increase, the company’s shares remain around 24 percent cheaper than a year earlier, while the average target price set by analysts is NOK 124, or approximately 33 percent above Thursday’s closing price. Tomra has scheduled an investor day for 24 November.