RATIONAL AG — Earnings Release 2009

Mar 11, 2010

News Details

Ad-hoc | 11 March 2010 09:14

RATIONAL AG: Fiscal year 2009 – RATIONAL weathers the crisis well

RATIONAL AG / Final Results

11.03.2010 09:14

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RATIONAL AG: Fiscal year 2009 - RATIONAL weathers the crisis well

• Sales down by only 8 percent
• Earnings up 9 percent
• Dividend of 3.50 euros proposed

Landsberg, March 11, 2010. Following a perceptible drop in sales in the
first six months, the business stabilised in the second half of 2009. With
annual sales of 314.4 million euros and thus a fall of just 8 percent
compared to the previous year, the year 2009 overall was fully in line with
expectations.

Markets of the future on course for success - established markets stable

The distinctly international nature of the business proved to be an
advantage for RATIONAL in the difficult economic climate. Because of the
spread of risk this entails, it was possible to effectively cushion the
negative effects of the crisis.

Approximately 75 percent of the drop in sales 2009 can be ascribed to the
business environment in the markets of Russia, Spain and the Americas,
which were particularly hit hard by the economic crisis, as well as to the
OEM business. In these areas, structures and costs were consistently
aligned to the new volume of business. All other sales markets proved
relatively stable or even exhibited clear growth.

Low point reached

In countries experiencing growth as well as in those hit by the crisis,
there are strong signs that in 2009 RATIONAL again reached a new, stable
level. Orders from customers once again reflected the normal spread based
on historic seasonality over the individual months of the year - even
though levels were down in some cases.

For RATIONAL's global appliance sales the bursting of the speculative
bubble, however, ultimately resulted in sales falling back to the levels
seen between 2006 and 2007.

Earnings exceed many analysts' expectations

RATIONAL's earnings improved further in 2009, despite the drop in sales,
thanks to professional management of costs, increases in productivity and
efficiency, and falling raw material prices. EBIT grew by 9 percent to 90.5
million euros. Net earnings were likewise up 9 percent and reached the new
record level of 67.3 million euros. RATIONAL thus actually exceeded many
analysts' expectations as regards earnings.

3.50 euros dividend per share proposed

The Executive Board and Supervisory Board will propose paying a dividend of
3.50 euros per share for fiscal 2009 at the General Meeting of Shareholders
on April 21, 2010. This equates to an overall distribution of a total of
39.8 million euros and a dividend yield of around 3 percent in respect of
the price on December 31, 2009.

Cautiously positive outlook for 2010

The forecasts for global economic trends have grown steadily more
optimistic in recent months and give grounds for hoping that the global
economy will return to growth in 2010.

For RATIONAL, this means that after the 'Year of Realignment' in 2009 the
company is now back on track for making selective marketing investments in
markets with particularly high potential for growth.

Yet despite all underlying positive trends, 2010 continues to be afflicted
with considerable risks. Not only is the banking sector in an extremely
fragile state globally, but for the first time entire nations are at risk
of insolvency. Nevertheless, RATIONAL is going forward into 2010 with
cautious optimism and expects a return to modest growth in sales.

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 around 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.

                              2009                2008    Change in %

Sales (in m EUR) 314.4 343.0 -8
EBIT (in m EUR) 90.5 83.1 +9
EBT (in m EUR) 90.1 83.5 +8
EPS (in EUR) 5.92 5.42 +9

11.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: 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

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