RATIONAL AG — Earnings Release 2008

Nov 12, 2008

News Details

Ad-hoc | 12 November 2008 08:03

RATIONAL AG: Sales grow by 6 percent

RATIONAL AG / Quarter Results

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RATIONAL AG: Sales grow by 6 percent

Landsberg, November 12, 2008. In the first 9 months of 2008 RATIONAL posted
sales of 249.7 million euros (previous year 235.6 million euros). This
equates to growth of 6 percent. The growth rate has been negatively
impacted by the strength of the euro against the US dollar and the pound
sterling. If this effect is eliminated, sales are growing at 9 percent.

With a rise in sales of 25 percent, growth in Asia has, as expected, been
particularly strong, and now accounts for 12 percent of group sales
(previous year 10 percent). In the Americas too, above-average growth of 18
percent was achieved if currency fluctuations are excluded.

In the 3rd quarter of 2008 sales of 81.2 million euros were merely on a par
with the previous year’s figure (81.7 million euros). We consider the main
reason for this development to be the huge uncertainty brought about by the
global financial crisis, coupled with the impending recession in
practically all industrialized countries. Both have resulted in a
considerable reluctance to invest.

EBIT growth up 3 percent / group earnings up 17 percent

After 9 months EBIT has grown by 3 percent to 62.5 million euros (previous
year 60.5 million euros). Group earnings rose at an above-average rate by
17 percent to 46.2 million euros (previous year 39.4 million euros) because
of the lower tax rate.

Operating cashflow up 35 percent

Operating cashflow grew in the first 9 months of 2008 by 13.8 million euros
to 53.3 million euros (previous year 39.5 million euros). This growth of 35
percent is the result of increased operating income, the lower tax rate and
improvements in working capital.

Sound asset structure

With an equity ratio of 62 percent (previous year 70 percent) and an
equity-assets ratio of 185 percent, RATIONAL has an extremely sound asset
structure. This guarantees latitude and considerable independence even when
financial markets are under great pressure.

New revenue and profit forecast for 2008

The effect of the major rationalization and reduction in costs, plus the
short time the appliance takes to pay for itself, make the use of RATIONAL
technology especially attractive even in economically less robust times.

To specifically aid the development of the business, it has been decided to
further expand sales capacities in the principal industrialized countries
of the world, given the high available free market potential of around 75
percent of the 2.5 million professional kitchens worldwide.

We are also expecting further positive effects on the business from the
launch of the new scale-free SelfCooking Center® with CareControl and the
introduction of the 2-year warranty for all appliances.

Despite the current ongoing difficult economic environment overall, we are
confident in reaching, in particular on the basis of additional
anti-cyclical sales and marketing activities, total sales of around 355
million euros for fiscal 2008, EBIT of 93 million euros and group profits
of 68 million euros.

Contact:

RATIONAL Aktiengesellschaft
Dr. Günter Blaschke
Tel. +49 (0)8191 327-364
Fax +49 (0)8191 327-272
e-Mail: g.blaschke@rational-online.de
www.rational-ag.com

Information for editors:

RATIONAL is the world market and technology leader for the thermal
preparation of food in professional kitchens. The company, founded in 1973,
employs more than 1,000 people, of which more than 600 are in Germany.
Since the IPO in 2000 RATIONAL was floated in the Prime Standard on the
German stock market and is currently listed in the SDAX. The Price of
RATIONAL shares has duplicated several times since the IPO.

The company’s principal objective is to offer customers maximum benefit.
Internally RATIONAL is committed to the principle of sustainability,
expressed in its policies on environmental protection, leadership and
social responsibility. Numerous international awards bear witness year on
year to the high level of RATIONAL’s work.

                           9M 2008    9M 2007    Q3 2008    Q3 2007

Sales (million of euros) 249.7 235.6 81.2 81.7
EBIT (million of euros) 62.5 60.5 19.9 21.9
EBT (million of euros) 62.9 60.9 19.8 21.9
EPS (in euros) 4.07 3.46 1.29 1.27

12.11.2008 Financial News transmitted by DGAP

Language: English
Issuer: RATIONAL AG
Iglinger Straße 62
86899 Landsberg a. Lech
Deutschland
Phone: 0049 8191 327 364
Fax: 0049 8191 327 272
E-mail: i.klinckmann@rational-online.de
Internet: www.rational-ag.com
ISIN: DE0007010803
WKN: 701080
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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