Tomra Q3 2025 revenue dips amid new collection market rollout

Tomra Systems ASA reported a muted third quarter in 2025, with group revenues decreasing 6% to €306 million (€326 million in Q3 2024). This was primarily due to the phasing of new Collection markets and continued weak sentiment in Recycling, which saw revenues fall 32% to €40 million (€59 million in Q3 2024). Collection revenues were down 5% to €179 million, and Food revenues decreased 2% to €76 million. The company's gross margin improved to 44% (43% in Q3 2024), driven by a better business mix in Collection and cost savings in Food.

Adjusted EBITA for the quarter was €30 million (€44 million in Q3 2024), resulting in an adjusted EBITA margin of 10% (13% in Q3 2024). Operating expenses increased to €104 million (€97 million in Q3 2024) due to the inclusion of c-trace, ramp-up of Feedstock operations, and acquisition costs for CLYNK. Cash flow from operations also decreased to €64 million (€99 million in Q3 2024).

Food's order intake rose 6% to €77 million, boosting its order backlog by 21% to a record €138 million for deliveries in 2026. Recycling's order intake, however, fell 30% to €42 million, with the backlog decreasing to €109 million. Tomra remains optimistic about future growth as new deposit return systems launch in Poland and Portugal, with installations set to pick up in late 2025 and into 2026.