RATIONAL AG — Earnings Release 2009

Aug 11, 2009

News Details

Ad-hoc | 11 August 2009 07:42

RATIONAL AG: 12 percent fall in sales in the first half year

RATIONAL AG / Half Year Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.

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RATIONAL AG:
12 percent fall in sales in the first half year
27 percent EBIT margin in the second quarter
Operating cash flow 15 percent up on previous year

Landsberg, August 11, 2009. In the first half of 2009, RATIONAL posted
sales of 147.7 million euros. Although this represents a 12-percent fall
compared with the previous year, the figure is within the forecast
bandwidth. This decline can also be attributed to the still strong
performance in the first half of 2008.

Moderate fall in sales in the established countries

The development of many of the established markets is gratifying in the
light of the current crisis. In Asia, sales have almost reached the
previous year's level, but also the German market, with a loss of just 5
percent, is standing up quite well.

27 percent EBIT margin in the second quarter

Due to early cost cutting initiatives and the ongoing positive effect of
developments in raw material prices RATIONAL was able to uphold the high
profitability, despite the marked drop in sales compared with the previous
year. Thus, although EBIT fell by 7.4 million euros in the first six months
to 35.3 million euros, the EBIT margin at 23.9 percent reached again the
high level of the preceding years. And at 27.0 percent for the second
quarter, the EBIT margin even managed to outperform the 26.9 percent figure
achieved in the previous year.

Operating cash flow 15 percent up on previous year

In the first half of the year, RATIONAL's operating cash flow amounted to
30.2 million euros. This corresponds to a rise of 3.8 million euros or 15
percent compared with the previous year. In the second quarter RATIONAL
took out additional short-term loans of 14.0 million euros for the purpose
of securing credit lines and underpinning the healthy liquidity position in
a cost-effective way. On June 30, 2009, the company's cash and cash
equivalents including fixed-term deposits amounted to 87.2 million euros,
compared with 57.5 million euros on March 31, 2009.

Reliable forecast for 2009 not possible

Rarely have the various economic institutions differed more in their
predictions regarding the intensity, duration and future course of the
ongoing recession in the regions of the world. Ultimately, since no one can
say whether the economy is going to enter a sustained period of recovery
this year, next year, or at some time in the future, a serious forecast for
the current fiscal year is not possible at the moment. The company's
performance in the first half of the year gives RATIONAL reason to believe
that the revenue and profit development will attain a moderate level for
the entire year.

Contact:

RATIONAL Aktiengesellschaft
Dr. Günter Blaschke
Tel. +49 (0)8191 327-364
Fax +49 (0)8191 327-272

e-Mail: g.blaschke@rational-online.com
www.rational-online.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 on the MDAX.

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.

                                 Q2 2009     Q2 2008      Change in %

Sales (millions of euros) 74.4 89.0 -16%
EBIT (millions of euros) 20.1 23.9 -16%
EBT (millions of euros) 20.0 24.1 -17%
EPS (in euros) 1.30 1.56 -17%

                                 HY 2009     HY 2008      Change in %

Sales (millions of euros) 147.7 168.6 -12%
EBIT (millions of euros) 35.3 42.7 -17%
EBT (millions of euros) 35.2 43.1 -18%
EPS (in euros) 2.27 2.78 -18%

11.08.2009 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.com
Internet: www.rational-online.com
ISIN: DE0007010803
WKN: 701080
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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