|
EQS-News: RATIONAL AG
/ Key word(s): Quarterly / Interim Statement
RATIONAL AG starts fiscal year 2024 with a successful first quarter
Landsberg am Lech, 2 May 2024 “After the successes of the previous year, the first three months of 2024 continue to give us a positive outlook. Financially, we are performing as expected. However, we are particularly pleased with the more intense direct contact with our customers,” says Rational’s CEO Dr Peter Stadelmann. On the morning of 2 May 2024, the company, headquartered in Landsberg am Lech, provided insights into the first quarter of 2024. Sales revenues of 286 million euros Growth in Rational’s high-potential overseas markets of North America and Asia continues to outperform the average. Sales revenues in the North America region were up by 13 percent in the first quarter of 2024, while sales revenues in Asia increased by 18 percent during the same period. The major individual markets in these regions, namely the United States, China, and Japan, were responsible for the growth. The situation in Europe (excluding Germany) was mixed. In established markets, such as Italy, France, and Spain, Rational could not reach the peak values of the previous year’s quarter. Rational’s growth in Eastern and Southeastern Europe was all the more encouraging. Moreover, the United Kingdom made an important contribution to growth. In total, sales revenues in Europe (excluding Germany) were close to the previous year’s level, declining slightly by 3 percent. Sales revenues in Germany in the first quarter of 2024 were down significantly, by 17 percent, on the prior-year figure. Jörg Walter identified rapid growth during the period from 2021 until the first quarter of 2023 as the main reason for the decline. However, the long-term growth rate in the company’s home market remains within expectations. With an increase of 7 percent, sales revenues in the iVario product group exceeded both the previous year and the previous peak from 2022. The iCombi product group saw a slight increase of one percent from the previous year’s high level. EBIT up 7 percent, outpacing sales revenue growth – EBIT margin at 24.8 percent In the first quarter of 2024, the Rational Group generated EBIT (earnings before financial result and taxes) of 71.1 million euros (2023: 66.5 million euros), resulting in an EBIT margin of 24.8 percent (2023: 23.5 percent). EBIT benefited from the encouraging increase in gross profit. Total operating costs climbed by 5 percent to 94.5 million euros (2023: 89.8 million euros). “In line with our forecast, operating costs are increasing somewhat faster than sales revenues. We want our innovative cooking systems to help ensure customer proximity. That requires effort and financial resources,” says Dr Peter Stadelmann. Dividend of 13.50 euros per share proposed iCareSystem AutoDose honoured with Internorga Future Award Number of employees increased further 2024 forecast confirmed “Rational can grow sustainably and organically. This growth is primarily driven by strong demand in overseas regions with still low market penetration. Being close to the fundamental human need for food also makes us less cyclical. Recurring sales revenues from cleaners, service parts, and accessories, as well as the replacement of older generations of appliances, support this,” explains Jörg Walter. Overall, the company expects organic sales revenue growth in the mid to high single-digit percentage range for 2024. The CFO adds: “To position our company for sustainable success, we will continue to drive our strategic projects. In addition, our global sales team ensures customer proximity. In terms of cost, this means that our operating costs will rise somewhat faster than sales revenues. As we expect a higher gross profit due to lower material costs, we anticipate the EBIT margin to be close to last year’s level.” Contact: Rational Aktiengesellschaft Stefan Arnold / Head of Investor Relations E-mail: Editorial note: The Rational Group is the global market and technology leader for thermal preparation of food in professional kitchens. The company, founded in 1973, employs more than 2,600 people, around 1,480 of whom are in Germany. Rational was floated in the Prime Standard of the German stock market in 2000. The company’s principal objective is to offer maximum customer benefit at all times. Rational is committed to the principle of sustainability, which is expressed in its corporate policies on environmental protection, leadership, job security and social responsibility. Numerous international awards bear witness to the high quality of the work done by Rational’s employees year for year.
02.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | RATIONAL AG |
| Siegfried-Meister-Straße 1 | |
| 86899 Landsberg am Lech | |
| Germany | |
| Phone: | 0049 8191 327 2209 |
| Fax: | 0049 8191 327 722209 |
| E-mail: | |
| Internet: | -online.com |
| ISIN: | DE0007010803 |
| WKN: | 701080 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1893405 |
| End of News | EQS News Service |
|
|
1893405 02.05.2024 CET/CEST
