SECOND QUARTER 2011 RESULTS

Robust revenue growth (local currencies) of 27%. 1059 MNOK in revenues, 13%
organic growth in local currencies.
Gross margin of 42%, up from 41% in second quarter 2010.
32% growth in EBITA to 188 MNOK (142 MNOK in second quarter 2010).
EBITA margin of 18%, up from 16% in second quarter 2010.
14% organic growth in Collection Technology, currency adjusted.
19% organic growth in Industrial Processing Technology and new all time high
order backlog.
Cashflow from operation of 95 MNOK (11 MNOK in second quarter 2010).
 
Collection Technology
Revenues in the segment equaled 500 MNOK in the second quarter, up from 446 MNOK
in second quarter last year. After adjustment for currency changes and the
acquisition of CBSI, revenues were up 14 percent. Gross margin was 48%, compared
to 46% last year, supported by the cost reduction program. EBITA was 109 MNOK,
up from 77 MNOK in second quarter 2010 (up from 75 MNOK currency adjusted).
 
Industrial Processing Technology
Revenues in the quarter increased by 74% compared to same quarter in 2010.
Adjusted for Odenberg (acquired in February 2011) and currency effects, revenues
increased 19%. Gross margin decreased from 55% in second quarter 2010 to 48% in
second quarter 2011. The decrease was a consequence of change in portfolio and
geography-mix, somewhat lower margins in the food segment (Odenberg not
consolidated in 2010), lower margins in Orwak (due to increased steel prices and
stronger SEK), as well as a weaker USD (~40% of revenues in the segment is
nominated in USD). EBITA increased from 37 MNOK in second quarter 2010 to 52
MNOK in second quarter 2011 as a consequence of higher activity.
 
The order backlog in the segment increased from 216 MNOK at the end of second
quarter 2010 to 297 MNOK at the end of second quarter 2011 (of which 59 MNOK
relates to Odenberg).
 
Material Handling
Revenues in the business area were 45.8 MUSD in second quarter 2011, up from
41.1 MUSD last year. Adjusted for the RSI acquisition, revenues were up 6% in
local currencies. Gross margin was 23%, down from 24% same period last year.
EBITA improved from 5.1 MUSD in second quarter 2010 to 5.7 MUSD in second
quarter 2011. The improved performance was mainly due to higher volumes on the
East Coast.
 
Asker, 15 July 2011
Tomra Systems ASA
 
Attached please find the report and presentation for 2(nd) quarter 2011. A live
broadcast of the presentation is available on www.tomra.com (investor relation
page). A record of the broadcast will be available as soon as the live broadcast
has ended.
 
2nd quarter 2011: 
http://hugin.info/162/R/1531194/465972.pdf
 
Presentation of 2nd Quarter: 
http://hugin.info/162/R/1531194/465973.pdf
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Tomra Systems ASA via Thomson Reuters ONE
 
[HUG#1531194]