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UPDATE 1-Tomra Q3 lags forecast; German replacement demand seen easing

Published 23/10/2017, 05:46 pm
© Reuters.  UPDATE 1-Tomra Q3 lags forecast; German replacement demand seen easing
TOM
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(Adds CEO, outlook)

Oct 23 (Reuters) - Tomra Systems ASA TOM.OL :

* Q3 revenues NOK 1.86 billion (Reuters poll NOK 1.90 billion), up 8 pct year-on-year

* Revenues were unchanged when adjusted for currency adjustments and acquisitions

* Q3 EBITA NOK 303 million (Reuters poll NOK 313 million), down from 331 million in Q3 2016

* Collection Solutions unit: The replacement demand in Germany is assumed to continue throughout 2017 and into 2018, Tomra said, but probably in the lower end of the guided range of 2,700-3,700 machines per year, CEO Stefan Randstrand told analysts and reporters at the company's earnings presentation

* Collection Solutions unit: From Dec. 1, Tomra will start recording revenues from Australia's New South Wales. Significant ramp-up expenses will be booked during fourth quarter 2017

* Sorting solutions unit: Currently good momentum in both Food and Recycling, vs July statement of "good momentum in Food, and improved momentum in Recycling"

* Sorting solutions: Order backlog (excluding Compac) rose to record NOK 924 mln at end-Q3 from NOK 873 mln at end-Q2

* Year-to-date Tomra's shares are up 30.4 percent

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