The Norwegian sorting technologies and reverse vending machine (RWM) provider Tomra reported higher revenues in both of its business areas in the first quarter of 2018. The sorting solutions business area saw sales up on the its build out of a new beverage container deposit system in New South Wales, Australia, which launched on 1 December 2017. Continued replacements of older RVMs in Germany were another contributor to a revenue increase of around 5 per cent which brought the figure to around €96m for the division.
Within the sorting solutions business area, Tomra reported that its recycling segment's first quarter revenues were "significantly up" from the prior-year period with "very strong" order intake and an all-time high order backlog. The company does not provide a financial breakdown of its business area results by segment. In addition to the recycling market, the sorting solutions business area supplies optical sorting technology to the food and mining industries.
All together, revenues were up by around 12 per cent for the first quarter of 2018 at around €181m. Group net profit fell by around 10 per cent to around €8.4m.