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Tomra posts strong 2023 revenue and earnings growth in RVM and waste sorting businesses

Consolidated results weighed down by food sorting technology division loss

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Man's hand places a bottle in a reverse vending machine in Germany
The expansion of deposit return schemes for beverage containers, especially in Europe, was a major contributor to Tomra's revenue growth in 2023.

Norwegian sorting technology specialist Tomra reported strong growth in both its Collection and Recycling division in 2023, while its segment serving the food industry saw both revenues and profits decline.

Boosted by a rapidly expanding deposit return system (DRS) market within the EU, Tomra's Collection division, which sells reverse vending machines (RVMs) for deposit-bearing beverage containers, had had a very strong year in 2023. In last Thursday's earnings call, CEO Tove Andersen noted the business area's good performance in all regions and all markets....

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