Sorting Machine Manufacturer Announces Record Annual Results

Sensor-based sorting machines and services provider TOMRA Systems ASA has announced record currency adjusted revenues for 2015 of 6,143 MNOK (€650m), representing a 16 per cent increase on the previous year.

The Norwegian company - which is listed on the Oslo Stock Exchange - was founded in 1972, operates globally and employs 2,600 people.

TOMRA provides Collection Solutions, comprising reverse vending and material recovery, and Sorting Solutions for the recycling, food, mining and other industries.

This powerful combination of technologies makes the company one of the most advanced providers of sensor-based sorting systems in the world, with approximately 87,000 of its machines installed globally.

Commenting on TOMRA’s record year, chief executive, Stefan Ranstrand, said: “We are pleased with the performance of the business and it shows further market confidence in our continued commitment to innovation.

“Overall currency adjusted revenues were up 16 per cent for TOMRA thanks to a 20 per cent increase in revenues for Collection Solutions and a 10 per cent rise for Sorting Solutions. The all-time high revenues for Collection Solutions were due to many elements, including the replacement cycle in Germany for reverse vending machines and a new product portfolio.

“The revenue growth in Sorting Solutions was also down to a combination of factors. These included solid development in the potato and nut sectors for our food business and strong growth within recycling thanks to increased demand and new product development.

“We look forward to embracing the opportunities and challenges that will present themselves during 2016. We have a highly capable team and we all look forward to continuing to deliver our promise of leading the resource revolution.”

In 2015, TOMRA was named winner of the European Business Award in the category for companies with a turnover of €150m or higher. The award recognises the company as one of Europe’s best businesses in terms of innovation, ethics and financial success.

This year, TOMRA achieved a ranking of number three in the 200-499 employee category of Norway’s Great Place to Work program. The scheme involves surveys of over 29,800 employees at 186 businesses in addition to analysing the companies’ organisational and management practices to determine the list of best workplaces.