RATIONAL AG — Earnings Release 2003

Nov 5, 2003

News Details

Ad-hoc | 5 November 2003 07:04

Rational AG english

Rational AG: 9 percent unit sales – earnings well ahead of budget Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Landsberg am Lech, 05.11.03. In the first nine months of 2003 RATIONAL AG, manufacturer of combi-steamers for professional kitchens, continued its profitable growth. Despite the weak economic development unit sales rose by 9 percent. Due to the negative effect of a strong euro, turnover grew by 6.0 percent from 126.2 million to 133.2 euros. RATIONAL’s earnings before interest and taxes (EBIT) increased by 23 percent from 22.7 million euros the previous year to 27.8 million euros, 2.9 million euros ahead of budget – not least thanks to further process optimization and productivity increases in production as well as consistent cost management in sales and administration. The group earnings after tax rose by 13 percent in the reporting period, from 15.2 to 17.3 million euros. Net earnings per share were 1.52 euros against 1.34 euros the previous year. After two years of consolidation and cost optimization the company is now once again investing heavily in expanding its global sales organization. In the third quarter of 2003 RATIONAL set up its own branch in Moscow, while in Shanghai the sales and service organization was further expanded. Despite unit sales in line with budget, the continued strength of the euro in the first nine months meant a negative currency impact on turnover by – 4.4 million euros (three percentage points less growth). In these circumstances RATIONAL AG anticipates that for the whole of 2003 the planned unit growth of 10 percent will be reached, while turnover will increase by 7 percent to 190 million euros. Based on current earnings trends, management is optimistic to achieve or even exceed the original EBIT forecast of 42 million euros. Contacts: RATIONAL Aktiengesellschaft Erich Baumgärtner Tel. (08191) 327-420, Fax (08191) 327 272 E-mail: e.baumgaertner@rational-online.de In million euros Q3 2003 Q3 2002 9mth/03 9mth/02 Turnover 44.985 43.767 133.170 126.175 EBIT 10.138 9.517 27.848 22.659 Earnings 6.541 5.566 17.293 15.238 EPS (in euros) 0.58 0.49 1.52 1.34 end of ad-hoc-announcement (c)DGAP 05.11.2003 ——————————————————————————– WKN: 701080; ISIN: DE0007010803; Index: SDAX Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf und Stuttgart 050704 Nov 03