Miller Magazine Issue: 151 July 2022

62 MILLER / JULY 2022 NEWS Tomra revealed plans to accelerate the path to a sustainable future and double its revenues in five years at its capital markets day on 23 June in Mülheim-Kärlich, Germany. The company’s strategy is built on acceler- ating growth in its three core divisions, and using the current business platform to develop adjacent business opportunities. With a turnover of €1.05bn and employing 4,600 people, Tomra is a world leader in reverse vending machines (RVMs) and sensor-based sorting solu- tions for the food and recycling industries. The Asker, Norway, headquartered company is cele- brating its 50th anniversary this year. Tomra is uniquely positioned along global mega- trends, with leading market positions, bestin-class technologies, and purpose driven employees. The strategy builds on organic growth in core busi- ness, with a focus on positioning for new deposit markets, leveraging technology to increase recy- cling, expanding and optimizing the food sorting business across categories and geographies, as well as continued investment in innovation and se- curing supply chain resilience. To develop attractive adjacent business oppor- tunities, Tomra will focus on opportunities that are ripe for scaling, where the company has a com- petitive advantage to succeed, and where it sees strong return potential. Among adjacent opportunities, Tomra gave ex- amples such as textile recycling, collection sys- tems for reusable packaging, digital business models, and closing the gap in plastics recycling. With this strategy, Tomra launched a new set of financial ambitions for the coming five-year period. This includes 15 per cent annual revenue growth, EBITA margin at 18 per cent, 40-60 per cent divi- dend payout and maintaining an investment grade status. The company has also been rated A- / Sta- ble. Tomra president and CEO, Tove Andersen, said: “Over the course of 50 years, we have established a unique position which creates the foundation for our ambitious target to double our business in the Tomra announces strategy to double revenues in five years at capital markets day