DGAP-News: RATIONAL AG / Key word(s): Half Year Results
RATIONAL AG: Over-proportional sales growth in the first half year 2017

08.08.2017 / 07:00
The issuer is solely responsible for the content of this announcement.


Press release

RATIONAL AG: Over-proportional sales growth in the first half year 2017

- Group-wide sales revenues up 17 percent in the first six months

- Currency-adjusted EBIT margin of 26 percent

- Positive development for both segments

- Increased growth forecast

Landsberg am Lech, 8 August 2017 After an excellent first quarter of 2017, RATIONAL AG's successful business performance continued in the second quarter, with sales revenues up by 12 percent. In total, sales revenues amounted to 331.1 million euros in the first six months (2016: 283.1 million euros), which is an increase of 17 percent compared to the previous year.

Growth driven by Americas and Asia
Most of the growth was generated in the Americas and in Asia. The positive performance in street business and in business with chain customers helped to push up sales revenues in North America by 40 percent year-on-year. In Latin America, sales revenues also expanded considerably, increasing by 43 percent. A 21 percent rise in sales revenues in Asia, driven by China and Japan, was another reason for the rapid growth. In Europe (excluding Germany), it was above all the southern European markets, such as Spain and Italy, that contributed to an 11 percent increase in sales revenues. In Germany, the home market, RATIONAL grew by 5 percent in the six-month period.

Positive development for both segments
In the six months, the RATIONAL segment increased its sales revenues by 17 percent to 307.2 million euros (2016: 263.4 million euros). Sales revenues in the FRIMA segment amounted to 24.7 million euros, 21 percent up on the previous year (20.5 million euros).

Currency-adjusted EBIT margin of 26 percent
In the first half of 2017, RATIONAL AG's gross profit amounted to 202.5 million euros (2016: 175.5 million euros). The gross margin was at 61 percent, almost at the high level of the previous year (62 percent). Operating costs rose in line with sales revenues to 117.0 million euros (2016: 100.1 million euros). This resulted in an EBIT (earnings before interest and taxes) of 83.8 million euros (2016: 73.6 million euros) and an EBIT margin of 25 percent (2016: 22 percent). Adjusted for the negative impact of translation effects on the foreign currency positions, resulting in particular from the decline of the US dollar, RATIONAL's EBIT margin was 26 percent after six months (2016: 27 percent).

109 new employees in the first six months
109 new employees were added in the first half of 2017, almost half of them in Germany. As a result, the size of the workforce increased to 1,822 employees.

Increased growth forecast
"The large majority of our customers are so satisfied with the products and services that they would be happy to purchase them again at any time and also recommend them to friends and colleagues. Feedback on the new generation of appliances has confirmed this once again," as Dr Peter Stadelmann, Chief Executive Officer of RATIONAL AG, explains. "On the basis of the encouraging conditions overall, solid business growth in most regions, and a few major contracts, especially from North America, we are raising our guidance of sales revenue growth in 2017 to 11 to 13 percent", continues Dr Stadelmann. The Executive Board of RATIONAL AG has maintained the guidance for the EBIT margin being between 26 and 27 percent.

This positive achievement is overshadowed, however, by the death of Mr Siegfried Meister, the founder of our company, major shareholder, and Chairman of the Supervisory Board on 28 July 2017. "The well-being of the "entrepreneurs in the company", as he viewed his employees, was very important to Mr Meister. We will continue his life's work with the greatest commitment, as he would have wanted us to, and we are well prepared to do so", says Dr Peter Stadelmann.

Contact:
RATIONAL Aktiengesellschaft
Stefan Arnold/Head of Investor Relations
Tel. +49 (0)8191 327-2209img
Fax +49 (0)8191 327-722209img
E-mail: ir@rational-online.com
www.rational-online.com

Editorial note:
The RATIONAL Group is the global market and technology leader for thermal food preparation in professional kitchens. The company, founded in 1973, employs more than 1,800 people, around 900 of whom are located in Germany. Rational went public in the Prime Standard of the German stock market in 2000 and is currently part of the MDAX. 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 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 over year.

Figures in millions of euros1st half year 20171st half year 2016Percentage change
Sales revenues 331.1 283.1 +17
Gross profit 202.5 175.5 +15
Gross margin in percent 61.2 62.0 -
Earnings before interest and taxes (EBIT) 83.8 73.6 +14
EBIT margin in percent 25.3 26.0 -
Profit or loss after taxes 64.0 56.1 +14
Earnings per share (in EUR) 5.62 4.94 +14
 
Figures in millions of euros2nd quarter 20172nd quarter 2016Percentage change
Sales revenues 165.4 147.4 +12
Gross profit 101.4 91.6 +11
Gross margin in percent 61.3 62.1 -
Earnings before interest and taxes (EBIT) 39.7 41.4 -4
EBIT margin in percent 24.0 28.1 -
Profit or loss after taxes 30.3 31.7 -4
Earnings per share (in EUR) 2.66 2.78 -4


08.08.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: RATIONAL AG
Iglinger Straße 62
86899 Landsberg a. Lech
Germany
Phone: 0049 8191 327 2209
Fax: 0049 8191 327 722209
E-mail: ir@rational-online.com
Internet: www.rational-online.com
ISIN: DE0007010803
WKN: 701080
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

599127  08.08.2017 

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