TOMRA - THIRD QUARTER 2011 RESULTS

All time high revenues;  1144 MNOK in turnover in third quarter 2011. 28% growth
in local currencies (19% organic).
All time high profit:  221 MNOK in EGITA (179 MNOK in third quarter 2010).  31%
growth in EBITA in local currencies. EBITA margin of 19%, unchanged from third
quarter 2010.
Cashflow from operations of 299 MNOK (180 MNOK in third quarter 2010).
Roll out to Dutch discount chain completed during third quarter, according to
plan.
Continued strong order back log of 260 MNOK in IPT (186 MNOK in third quarter
2010).
 
Collection Technology
Revenues in the segment equaled 557 MNOK in the third quarter 2011, up from 471
MNOK in third quarter last year. After adjustment for currency changes and the
acquisition of CBSI, revenues were up 21 percent.  Gross margin was 44%,
compared to 48% in the same quarter last year, due to higher machine sales in
the quarter. EBITA was 125 MNOK, up from 100 MNOK in third quarter 2010 (up from
95 MNOK currency adjusted).
 
Industrial Processing Technology
Revenues in the quarter increased by 53% compared to same quarter in 2010.
Adjusted for Odenberg (acquired in February 2011) and currency effects, revenues
increased 25%. Gross margin decreased from 53% in third quarter 2010 to 51% in
third quarter 2011, due to somewhat lower margin in the food segment (Odenberg
not consolidated in 2010). EBITA increased from 43 MNOK in third quarter 2010 to
57 MNOK in third quarter 2011 as a consequence of higher activity.
 
The order backlog in the segment increased from 186 MNOK at the end of third
quarter 2010 to 260 MNOK at the end of third quarter 2011 (of which 39 MNOK
related to Odenberg).
 
Material Handling
Revenues in the business area were 52.5 MUSD in third quarter 2011, up from
45.4 MUSD last year. Adjusted for the RSI acquisition, revenues were up 11% in
local currency. Gross margin was 24%, down from 26% same period last year. EBITA
improved from 6.5 MUSD in third quarter 2010 to 7.8 MUSD in third quarter 2011.
The improved performance was mainly due to higher volumes on the East Coast.
 
Asker, 19 October 2011
Tomra Systems ASA
 
Attached please find the report and presentation for 3rd 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.
 
3rd quarter 2011: 
http://hugin.info/162/R/1555831/479970.pdf
 
Presentation of 3rd Quarter: 
http://hugin.info/162/R/1555831/480039.pdf
 
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Source: Tomra Systems ASA via Thomson Reuters ONE
 
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