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Tomra Systems (TOM) investor relations material
Tomra Systems Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary17 Oct, 2025
Executive summary
Q3 2025 revenues were €306 million, down 6% year-over-year, with declines in Collection (-5%), Recycling (-32%), and Food (-2%), but Food showed resilience with improved profitability and record order backlog.
Gross margin improved to 44% from 43% last year, despite revenue declines.
Adjusted EBITA for Q3 was €30 million (10% margin), down from €44 million (13% margin) in Q3 2024, reflecting lower profitability in Recycling and Collection.
Cash flow from operations was €64 million in Q3, compared to €99 million last year.
Acquisition of CLYNK, a US-based collection solution provider, completed to strengthen bag drop collection solutions.
Financial highlights
Group revenue for Q3 was €306 million, down 6% year-over-year.
Gross margin for Q3 was 44%, up from 43% last year.
Adjusted EBITA for Q3 was €30 million (10% margin), down from €44 million (13% margin) in Q3 2024.
Cash flow from operations was €64 million in Q3 and €147 million year-to-date.
Liquidity remains strong with €58 million in unused credit lines and average debt maturity of 3.7 years.
Outlook and guidance
Collection: Revenue growth in existing markets estimated at 5% for 2025; overall growth depends on new market rollouts in Poland and Portugal.
Recycling: Market challenges expected to persist through 2026 and possibly 2027; 2025 revenues estimated to decline 15%-20%.
Food: Revenue growth for 2025 estimated at mid-to-high single digits, with an EBITA margin target of 10%-11%.
Horizon: OpEx for Feedstock and Reuse expected south of €20 million for 2025; CapEx for Horizon estimated at €30 million.
Market uncertainty and trade tensions may delay order conversion in Recycling and Food.
Explain Recycling's negative EBITA drivers.
New DRS markets: Collection profitability impact?
Horizon Feedstock plants: strategic importance?
Poland: Prioritize market share or margin?
Recycling: What's the 2026-2027 market outlook?
Re-evaluate Food EBITA margin target?
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Next Tomra Systems earnings date
Q4 202513 Feb, 2026
Next Tomra Systems earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
Tomra Systems ASA provides sensor-based solutions for optimal resource productivity worldwide. It operates through Tomra Collections Solutions and Tomra Sorting Solutions divisions. The company designs collection solutions for reverse vending systems; production module for beverage, food, and non-food cans; sorting solutions for the food, recycling, and mining markets; and recycling centers for beverage packages under the TOMRA brand name. It also offers sensors and software to detect contaminants in food products in the food industry. The company was founded in 1972 and is headquartered in Asker, Norway.
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