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RATIONAL AG Earnings Release 2015
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Earnings Release
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Corporate | 4 November 2015 07:00
RATIONAL AG: Growth continues
DGAP-News: RATIONAL AG / Key word(s): 9-month figures
2015-11-04 / 07:00
Press release
RATIONAL AG: Growth continues
– Sales up 14 percent in the first nine months
– EBIT increased by 17 percent
– Success in the American growth market
– Forecast confirmed
Landsberg, 4 November 2015. Professional-kitchen specialist RATIONAL continued on its successful growth path in the third quarter. Sales revenues rose by 10 percent to 143.0 million euros in the quarter (previous year: 129.5 million euros). Sales revenues for the nine-month period were up 14 percent on the previous year, at 403.5 million euros (previous year: 352.7 million euros), after exchange rate adjustments, the increase is 11 percent.
Success in the American growth market
A particularly large contribution to growth came from the Americas Region, where sales revenues expanded by 39 percent. In addition to good business performance in general, this was also due to positive currency effects. After exchange rate adjustments, the increase comes to 25 percent.
Sales growth in the well-developed German market was particularly encouraging. Driven by the positive performance of the field business, sales revenues rose by 13 percent here. Rest of Europe expanded by 6 percent in the first nine months. The main reasons for rather below-average growth are the comparatively poor business performance in Russia and the particularly strong prior-year quarter, during which many school kitchens in the UK were equipped with RATIONAL appliances.
In Asia, sales revenues increased by 24 percent year-on-year in the first nine months. One of the main contributing factors was the positive business performance in China. Sales revenues in the “Rest of the world” region also grew by 12 percent year-on-year in the nine-month period.
The RATIONAL segment increased its sales revenues by 14 percent in the first nine months. The FRIMA segment also performed in line with our expectations, generating growth of 14 percent. FRIMA’s year-on-year increase in sales revenue was particularly strong in the third quarter, at 19 percent.
29 percent EBIT margin
Operating costs rose by 14.7 million euros compared with the first nine months of 2014, to 134.7 million euros (previous year: 120.0 million euros). The biggest rise was attributable to the sales and service divisions, where further investments were made in expanding sales capacities. Research and development expenses also increased sharply. “In order to secure the sustained success of our company, we have already spent a total of 18.2 million euros on research and development this year” explains Dr Peter Stadelmann, CEO of RATIONAL AG.
RATIONAL’s EBIT (earnings before interest and taxes) after nine months increased by 17 percent year-on-year, to 116.1 million euros (previous year: 99.2 million euros). The nine-month EBIT margin was 29 percent (previous year: 28 percent). After exchange rate adjustments, EBIT was 14.4 million euros (or 15 percent) higher than in the previous year, with an EBIT margin of 28 percent (previous year: 26 percent).
EBIT was impacted by translation effects on foreign currency positions on the balance sheet, which are reported under other operating expenses and income. In the first nine months of the previous year, the corresponding effect had been 6.0 million euros. The sharp increase in the value of the euro wiped out all the positive effects from the first half of 2015 (+4.6 million euros) in the third quarter. This led to a decrease from pure translation effects of 0.3 million euros in balance in nine-month earnings.
93 new jobs in 2015
At 30 September 2015, RATIONAL employed 1,517 people worldwide, 857 of whom were in Germany. A total of 93 new jobs have been created in 2015 to date, primarily in sales and marketing. 47 of these are in Germany.
Outlook confirmed
“Based on the positive business performance in the first nine months, we can again confirm our outlook for continued positive sales and earnings performance in financial year 2015”, says Dr Stadelmann.
Contact person:
RATIONAL Aktiengesellschaft
Dr Peter Stadelmann
Tel. +49 (0)8191 327-3309
Fax +49 (0)8191 327-272
E-mail: [email protected]
www.rational-online.com
Editorial note:
The RATIONAL Group is the global market and technology leader for thermal preparation of food in professional kitchens. The company, founded in 1973, employs around 1,500 people, over 800 of whom are in Germany. RATIONAL was floated in the Prime Standard of the German stock market in 2000 and is currently represented in the SDAX.
The company’s principal objective is to offer maximum customer benefit at all times. Internally 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 RATIONAL’s work year on year.
| Q3 2015 | Q3 2014 | Percentage change | |
| Sales (m EUR) | 143.0 | 129.5 | +10 |
| EBIT (m EUR) | 42.2 | 43.4 | -3 |
| EBT (m EUR) | 42.1 | 43.4 | -3 |
| EPS (EUR) | 2.86 | 2.91 | -2 |
| 9M 2015 | 9M 2014 | Percentage change | |
| Sales (m EUR) | 403.5 | 352.7 | +14 |
| EBIT (m EUR) | 116.1 | 99.2 | +17 |
| EBT (m EUR) | 115.8 | 98.9 | +17 |
| EPS (EUR) | 7.79 | 6.63 | +18 |
2015-11-04 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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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: | [email protected] |
| Internet: | www.rational-online.com |
| ISIN: | DE0007010803 |
| WKN: | 701080 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart |
| End of News | DGAP News Service |
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| 408295 2015-11-04 |