Tomra reports profitable Q4 2024

The president and CEO of Tomra Systems ASA, a producer of recycling, sorting and reverse vending equipment and technology, has reported double-digit revenue growth for the final three months of 2024.

“I’m proud to present a record strong quarter for Tomra—a quarter in which intense activity ahead of Austria's deposit return system (DRS) launch has generated results that exceeded our expectations in Collection, and where our Recycling division has managed to deliver a record quarter thanks to the team’s dedication and thorough preparations,” says Tove Andersen, president and CEO of Tomra.

The company makes and markets recyclable container reverse vending machines (RVMs) via its Collection division and makes and sells sensor-based sorting equipment in its Recycling division.

Adds Andersen, “Yet the greatest news in the quarter has really been the historical progress made by policymakers on the circular agenda. The EU’s adoption of the Packaging and Packing Waste Regulation (PPWR) will shape circularity for decades, introducing the first-ever legally binding recycled content requirements for packaging [and] DRS in all EU countries, and many additional promising obligations for the industry to boost recycling rates.”

The company says 2024 fourth quarter revenue of $416.4 million for the overall Tomra Group represented an increase of 12 percent compared with the previous year’s further quarter.

Collection division revenue grew by 2 percent from what Tomra calls a strong 2023 fourth quarter while in its Recycling division revenue increased by 37 percent.

Tomra says its Recycling division order backlog at the end of last year’s fourth quarter grew by 9 percent to nearly $112 million “after a solid order intake.”

The technology provider says its earnings before interest taxes and amortization (EBITA) increased by 46 percent to $81.6 million year on year in the fourth quarter of 204. The firm cites high volumes in Recycling division for a fourth quarter EBITA margin of 39 percent (compared with 25 percent in 2023) while EBITA in the Collection division dropped slightly from 18 percent in the fourth quarter of 2023 to 17 percent last year.

Tomra says it now has approximately 110,200 installations in more than 100 markets worldwide and employs 5,300 people globally.

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