Global sustainable tech company TOMRA announces strategy to double revenues in five years at capital markets day

TOMRA revealed plans to accelerate the path to a sustainable future and double its revenues in five years at its capital markets day on 23 June in Mülheim-Kärlich, Germany. The company’s strategy is built on accelerating growth in its three core divisions and using the current business platform to develop adjacent business opportunities With a turnover of NOK 10.9bn (€1.05bn) and employing 4,600 people, TOMRA is a world leader in reverse vending machines (RVMs) and sensor-based sorting solutions for the food and recycling industries. The Asker, Norway, headquartered company is celebrating its 50th anniversary this year. TOMRA is uniquely positioned along global megatrends, with leading market positions, best- in-class technologies, and purpose-driven employees. The strategy builds on organic growth in core business, with a focus on positioning for new deposit markets, leveraging technology to increase recycling, expanding and optimizing the food sorting business across categories and geographies, as well as continued investment in innovation and securing supply chain resilience. To develop attractive adjacent business opportunities, TOMRA will focus on opportunities that are ripe for scaling, where the company has a competitive advantage to succeed, and where it sees strong return potential. Among adjacent opportunities, TOMRA gave examples such as textile recycling, collection systems for reusable packaging, digital business models, and closing the gap in plastics recycling. With this strategy, TOMRA launched a new set of financial ambitions for the coming five-year period. This includes 15 percent annual revenue growth, EBITA margin at 18 percent, 40-60 percent dividend payout and maintaining an investment-grade status. The company has also been rated A- / Stable. TOMRA president and CEO, Tove Andersen, said: “Over the course of 50 years, we have established a unique position which creates the foundation for our ambitious target to double our business in the next five years by accelerating growth in core and developing adjacent businesses.” In addition, the company said it ‘will focus on implementing its sustainability strategy to lead the resource revolution, while becoming a fully circular business and being safe, fair and inclusive’. The sustainability strategy comprises five focus areas which are resource productivity, sustainable product design, supply chain sustainability, climate impact and TOMRA’s employee value proposition. TOMRA launched its holistic sustainability targets towards 2030 covering these prioritized focus areas. Among these targets is the commitment to net-zero emissions and setting science-based targets. Commenting on the sustainability strategy, Tove Andersen, said: “Transformation is at the heart of everything we do, so we have taken that principle and used it to create our sustainability strategy and focus areas. “Each focus area will have a transformational impact and deliver significant, measurable benefits for our people, customers and the environment. “For a more sustainable future, we at TOMRA feel we have an obligation to grow. We have now stepped up our ambitions and we aim to double our business in the next five years.” About TOMRA FoodTOMRA Food designs and manufactures sensor-based sorting machines and integrated post-harvest solutions transforming global food production to maximize food safety and minimize food loss, by making sure Every Resource Counts. These solutions include advanced grading, sorting, peeling and analytical technology to help businesses improve returns, gain operational efficiencies, and ensure a safe food supply. The company has more than 12,800 units installed at food growers, packers and processors around the world for Confectionery, Fruit, Dried fruit, Grains and Seeds, Potatoes, Proteins, Nuts, and Vegetables. TOMRA Food operates centers of excellence, regional offices and manufacturing locations within the United States, Europe, South America, Asia, Africa and Australasia. Follow TOMRA Food on Facebook @TOMRA.Food, Twitter @TOMRAFood, Instagram @TOMRAFood and on LinkedIn at TOMRA Food. TOMRA Food is a division of TOMRA Group. TOMRA was founded in 1972 that began with the design, manufacturing and sale of reverse vending machines (RVMs) for automated collection of used beverage containers. Today, TOMRA is leading the resource revolution to transform how the planet’s resources are obtained, used and reused to enable a world without waste. The company’s other business divisions comprise TOMRA Recycling, TOMRA Mining and TOMRA Collection. TOMRA has approximately 100,000 installations in over 80 markets worldwide and had total revenues of ~10.9 billion NOK in 2021. The Group employs ~4,600 globally and is publicly listed on the Oslo Stock Exchange. The company headquarters are in Asker, Norway. For further information about TOMRA, visit www.tomra.com