TOMRA, the global technology leader in sensor-based solutions for optimal
resource productivity, announces its financial results for the second quarter
2024.

Revenues for the Group amounted to 333 MEUR in the quarter, in line with the
second quarter last year. Collection revenues grew 15% to 193 MEUR compared to
the second quarter 2023, with strong sales in all regions. In Recycling,
revenues declined 15% to 57 MEUR compared to the second quarter 2023, in line
with the estimated backlog conversion ratio for the quarter. In Food, the softer
market sentiment led to a decline in revenues of 16% to 82 MEUR compared to the
second quarter 2023, which is a 4 percentage points higher backlog conversion
ratio than estimated.

The combined order backlog in Recycling and Food grew 16% to an all-time high
252 MEUR compared to the second quarter last year, despite the order intake
being down 12% and 2% to 65 MEUR and 83 MEUR in Recycling and Food respectively.

Gross margins for TOMRA Group increased from 42% to 44% in the second quarter
compared to the same period last year, with improvements in all three divisions.
Compared to the second quarter last year, Collection's gross margin increased
from 39% to 40%, Recycling's from 51% to 53% and Food's from 43% to 45%. The
increases are driven by a positive business and product mix as well as price
adjustments.

Operating expenses in the quarter were 101 MEUR (excluding 0.5 MEUR one-off
costs), which is in line with the previous two quarters.

EBITA, adjusted for one-off costs, was 44 MEUR in the quarter compared to 46
MEUR in the second quarter last year.

Earnings per share excluding one-off costs amounted to 0.08 MEUR in the second
quarter compared to 0.09 MEUR in the same quarter last year.

Highlights 2Q 2024

(comparison figures are from the second quarter last year)

  · Revenues amounted to 333 MEUR in TOMRA Group, in line with last year
  · Revenue growth of 15% in Collection, but down 15% in Recycling and down 16%
in Food
  · Gross margin of 44%, up from 42%
  · Operating expenses of 101 MEUR (ex. 0.5 MEUR one-off costs), in line with
the previous two quarters
  · EBITA adj. was 44 MEUR, down 4%
  · Cash flow from operations was 34 MEUR, up from 3 MEUR
  · Recycling order intake down 12% to 65 MEUR and order backlog growth of 9% to
record high 133 MEUR
  · Food order intake down 2% to 83 MEUR and order backlog growth of 23% to 119
MEUR

Tove Andersen, President and CEO of TOMRA Systems ASA comments:

"It is great to see the strong momentum continuing in our Collection division,
and it is encouraging to see a steady introduction of new deposit return schemes
(DRS). Installations of reverse vending machines have continued at a good pace
in Romania and Hungary. We are also experiencing high activity in Austria which
will introduce DRS for single use containers in January 2025. The market
sentiment is still softer in Recycling and Food, where revenues were down as
expected in the quarter. Despite this, the order intake was solid and the
combined order backlog is at a record high level - highlighting the continued
need for automation and increased circularity to enable a world without waste".

Webcast 2Q 2024

President & CEO Tove Andersen and CFO Eva Sagemo will present the results today
at 08:00 CEST. The presentation and Q&A session will be sent via live webcast
and will be available on demand shortly after the
presentation: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240719_
2


Analysts and investors who would like to actively participate in the live Q&A
session must register separately for the TEAMS
webinar: https://events.teams.microsoft.com/event/4dd02b3c-c739-42d2-8b4b
-1accd763de91@4308d118-edd1-4300-8a37-cfeba8ad5898

Capital Markets Day 2024

TOMRA will be hosting a Capital Markets Day on 5 September 2024 in Alicante,
Spain. Presentations will be held by TOMRA's executive management, followed by
an exclusive opportunity to experience TOMRA's food grading and sorting
technology at customer's citrus packhouse. Participants will also have the
opportunity to engage directly with representatives from TOMRA's management team
in smaller breakout meetings.

Date: 5 September 2024
Time: 08:00 - 17:00 CEST (est.)
Location: AC Hotel Alicante, Spain

Registration is required and more information is available on: https://circular
-economy.tomra.com/capital-markets-day-2024

Asker, 19 July 2024

TOMRA Systems ASA

For further information, please contact:

Eva Sagemo, CFO
Tel: +47 934 39 911

Daniel Sundahl, Head of Investor Relations
Tel: +47 913 61 899

TOMRA develops solutions that enable circular economies and optimal resource
productivity through automated identification, collection, grading, and sorting
of resources. We optimize how resources are obtained, used, and reused - turning
waste into valuable resources. Our vision is to lead the resource revolution and
enable a world without waste.

TOMRA has more than 110,000 installations in over 100 markets worldwide and had
total revenues of EUR 1,290 million in 2023. The Group employs 5,400 people
globally and is publicly listed on the Oslo Stock Exchange. (OSE: TOM). For
further information about TOMRA, please visit www.TOMRA.com

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.