Tomra Systems ASA

Tomra Systems is a creator of sensor-based solutions for optimal resource productivity within the business streams of reverse vending, material recovery, compaction, recycling, mining, and food. Co.'s operating structure comprises two business areas and six business streams. The TOMRA Collection Solutions businesss area consists of three business streams: reverse vending, material recovery, as well as compaction. The TOMRA Sorting Solutions, business area consists of three business streams: food, recycling, and mining.
  • TickerTOM
  • ISINNO0005668905
  • ExchangeOslo Bors
  • SectorIndustrial Engineering
  • CountryNorway

Analysts

2 directors bought/sold

Two Directors at Tomra Systems Asa bought/sold 15,500 shares at between 260.000NOK and 261.000NOK. The significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under l...

Eivind Sars Veddeng

Tomra (Hold, TP: NOK300.00) - Q2 in line

The Q2 results were in line with consensus, with EBITA up 15% YOY. However, Sorting order intake was on the soft side and with the reduced guidance for H2 2019, we have lowered our EBITA by 5% for 2019 and 1–3% for 2020–2021e. On our estimates Tomra is pricing in c210k new deposit machines, which we consider on the high side. We reiterate our HOLD recommendation and NOK300 target price.

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Eivind Sars Veddeng ...
  • Ole-Andreas Krohn

Northern Lights

Eivind Sars Veddeng

Tomra (Hold, TP: NOK300.00) - Outlook and order intake in focus

We are 6% above Bloomberg consensus Q2 EBITA at NOK349m, up 14% YOY, but expect most focus to be on order intake growth in Sorting (we expect flat YOY) and the outlook for new deposit markets in Collection. We estimate that c220k new machines are priced in, which sounds quite rich to us. We reiterate our HOLD but have raised our target price to NOK300 (275).

Eivind Sars Veddeng

Tomra (Hold, TP: NOK300.00) - Q2 in line

The Q2 results were in line with consensus, with EBITA up 15% YOY. However, Sorting order intake was on the soft side and with the reduced guidance for H2 2019, we have lowered our EBITA by 5% for 2019 and 1–3% for 2020–2021e. On our estimates Tomra is pricing in c210k new deposit machines, which we consider on the high side. We reiterate our HOLD recommendation and NOK300 target price.

Eivind Sars Veddeng

Tomra (Hold, TP: NOK300.00) - Outlook and order intake in focus

We are 6% above Bloomberg consensus Q2 EBITA at NOK349m, up 14% YOY, but expect most focus to be on order intake growth in Sorting (we expect flat YOY) and the outlook for new deposit markets in Collection. We estimate that c220k new machines are priced in, which sounds quite rich to us. We reiterate our HOLD but have raised our target price to NOK300 (275).

Eivind Sars Veddeng

Tomra (Hold, TP: NOK275.00) - Temporarily slower order intake

Tomra reported a rather soft Q1, with Sorting order intake declining 7% YOY, 21% below our estimate. However, management sees this as temporary as customer demos and activities remain solid. We have cut our EBITA forecasts by 8% for 2019 and 3–4% for 2020 and 2021, respectively. We view the Scottish deposit framework as positive, but consider it reflected in the share price and reiterate our HOLD and NOK275 target price.

Eivind Sars Veddeng

Tomra (Hold, TP: NOK275.00) - EU action already priced in

We have lifted our target price to NOK275 (230) but reiterate our HOLD as much of the earnings potential from new deposit markets in the EU seems to be priced in. We have made limited estimate changes apart from introducing the Portuguese market and 2021 into our forecasts; we are in line with consensus on Q1 EBITDA.

Eivind Sars Veddeng

Tomra (Hold, TP: NOK230.00) - A closer look at Sorting

We have raised our medium-term growth forecast for Sorting on continued order intake beats and several benign long-term green growth trends (e.g. the EU’s plastics directive, China’s ‘National Sword’ programme). We have cut our 2019–2020e EBITA slightly, offset by higher growth post 2020e, and we have upped our target price to NOK230 (210). We reiterate our HOLD, as this seems reflected in the current valuation.

2 directors bought/sold

Two Directors at Tomra Systems Asa bought/sold 15,500 shares at between 260.000NOK and 261.000NOK. The significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under l...

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Eivind Sars Veddeng ...
  • Ole-Andreas Krohn

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jesper Ingildsen
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Mats Bye
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Eivind Sars Veddeng ...
  • Ole-Andreas Krohn

Northern Lights

TOMRA SYSTEMS ASA increases its risk exposure and slightly lowers to Neutral

TOMRA SYSTEMS ASA (NO), a company active in the Industrial Machinery industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date May 28, 2019, the closing price was NOK 268.00 and its expected value was estimated at NOK 257.38.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Tomra Systems - AGM 06 May 2019

In general, Tomra Systems ("Tomra") is in compliance with the Norwegian regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 7 and ITEM 8, shareholders are called to approve, respectively, the remuneration guidelines (advisory vote) and the long-term incentive scheme (binding vote). Even though beneficiaries are required to invest 25% of the long-term incentive in Tomra shares, the incentive is 100% paid in cash and it depends on only one absolute performance metric (EPS). ECGS is not in favour of "cash-based" long-term incentives, and it considers t...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch