TOMRA: 1Q 2024 - Strong quarter in Collection; Recycling and Food profitability impacted by low volumes
TOMRA, the global technology leader in sensor-based solutions for optimal resource productivity, announces its financial results for the first quarter of 2024. Revenues for the Group amounted to 3,322 MNOK in the quarter, in line with the first quarter last year. Collection delivered strong revenues of 2,153 MNOK, an increase of 15% (currency adjusted). In Recycling, revenues declined 16% (currency adjusted) to 529 MNOK. This is in line with the estimated backlog conversion ratio for the quarter which is impacted by a higher share of large projects with longer lead times. In Food,