TOMRA starts 2022 with a record high order backlog and continued quarter over quarter growth in comparable currencies. The order intake was up 16% and the demand signals are positive across all business segments. The delivery performance has been good, but supply chain shortages and inflation continue to add margin pressure.
Revenues in first quarter 2022 amounted to 2,501 MNOK compared to 2,291 MNOK in first quarter last year. Currency adjusted revenues were up 10% for TOMRA Group. At division level, currency adjusted revenues were up 3% in TOMRA Collection, up 56% in TOMRA Recycling Mining and up 1% in TOMRA Food.
Gross margin was 40% in first quarter 2022, down from 42% in first quarter 2021. All divisions have lower margins compared to the same period last year, negatively impacted by supply chain shortages and inflationary pressure.
Operating expenses amounted to 760 MNOK in first quarter 2022, compared to 733 MNOK in first quarter last year, up 4% currency adjusted – good cost control and continued investment in future-oriented activities.
EBITA was 237 MNOK in first quarter 2022, slightly down from 240 MNOK in the same period last year. Cash flow from operations was 166 MNOK in first quarter 2022, compared to 269 MNOK in first quarter 2021.
“We are entering 2022 with an all-time high order backlog and good momentum across all businesses. Despite several headwinds from a tight supply chain situation and logistical complexities, we have delivered on our customer obligations without any significant delays. We aim to be a trusted partner for our customers and build a solid platform for growth. Investments in future-oriented activities are slightly up and we are optimistic about the pipeline of opportunities. On the other hand, component shortages and inflation continue to add margin pressure, and activities on pricing and cost reduction are managed closely,” says Tove Andersen, TOMRA President and CEO.
Revenues in the business area equalled 1,393 MNOK in first quarter 2022, up from 1,364 MNOK in the same period last year. After adjustment for currency changes, revenues were up 3%.
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For more information: 
Eva Sagemo
TOMRA Systems ASA
Tel.: +47 934 39 911
TOMRA.com
