RATIONAL AG - Earnings Release 2015

News Details

Corporate | 22 March 2016 09:15

RATIONAL AG continues to grow successfully worldwide

DGAP-News: RATIONAL AG / Key word(s): Final Results

2016-03-22 / 09:15

The issuer is solely responsible for the content of this announcement.

Press release

RATIONAL AG continues to grow successfully worldwide

– 14 per cent sales revenues growth (currency-adjusted +10 per cent)

– 28 per cent EBIT margin (currency-adjusted 27 per cent)

– Higher dividend of 7.50 euros proposed

– Growth expected to continue in 2016

Landsberg am Lech, 22 March 2016 RATIONAL AG posted consolidated sales revenues of

564.2 million euros in 2015, an increase of 14 per cent over the previous year, and so continued its growth of the past years. Since the commercial kitchen supplier generates around 40 per cent of its sales revenues in foreign currencies, they were boosted by the fact that the euro was weaker than in the previous year. After exchange rate adjustments, the increase in sales revenues comes to

10 per cent.

Growth in all regions

All sales regions contributed to this growth – most strongly of all the American market. “Our development work of the past two years is bearing fruit. We are constantly improving in our ability to address the specific requirements of the market and our customers,” states Dr Peter Stadelmann, CEO of RATIONAL AG. “As a result, we achieved a currency-adjusted increase in sales revenues of 22 per cent in the past fiscal year in this important focal region, which is so important for us.”

Another high contribution to growth came from Asia, where sales revenues increased by

19 per cent. The company from Landsberg also performed well in 2015 in its already well-developed home market of Germany, where it posted growth of 14 per cent. Adjusted for the Russian market, where weak macroeconomic conditions prevail, and the special factor in the UK, where many school kitchens were equipped with RATIONAL appliances in 2014, sales revenues in Europe were up 9 per cent.

Both segments perform positively

In the year under review, the RATIONAL segment increased its sales revenues by 13 per cent or by 9 per cent after adjustment to reflect positive currency effects.

The FRIMA segment grew by 16 per cent in 2015, i.e. at a higher rate than the average for the Group. Currency effects played a minor role at FRIMA because its business focuses on Europe.

28 per cent EBIT margin

Gross profit rose by 15 per cent to 349.2 million euros and the gross margin was 62 per cent in 2015. “The slight year-on-year increase in the gross margin was due not only to greater efficiency in production, but also the positive development of exchange rates and raw material prices for us,” explains Dr Axel Kaufmann, CFO of RATIONAL AG.

Operating costs rose somewhat disproportionately relative to sales revenues. That is mainly due to higher selling expenses as a result of expanded sales capacities, intensified marketing activities and higher commissions for sales partners due to the successful business performance. In addition, research and development costs for further developing products and services rose 23 per cent year on year.

EBIT (earnings before interest and taxes) was 160.2 million euros, 10 per cent higher than in the previous year. The EBIT margin reached 28 per cent (currency-adjusted 27 per cent), the same high level as the previous year. Group earnings were 121.8 million euros, outperforming the previous year’s figure by 11 per cent. Earnings per share were 10.71 euros.

Dividend of 7.50 euros proposed

In order for shareholders to participate in the company’s success adequately, the Supervisory Board and Executive Board will propose to the General Meeting of Shareholders on 4 May 2016 to distribute a dividend of 7.50 euros per share. This represents a dividend pay-out ratio of 70 per cent and a dividend yield of 1.8 per cent relative to the stock price at the end of 2015.

106 new jobs worldwide

The total number of employees in the Group rose in 2015 from 1,424 to 1,530. Of that figure,

50 new jobs were created in Germany.

Growth to date expected to continue

Given the current forecasts for the global economy and based on the foundations that have been created for the company’s successful development, the Executive Board of RATIONAL expects to continue growing its sales volume, revenues and EBIT in 2016. “We’ll do everything in our power to further consolidate our leadership in delivering customer benefit over the competition, drive forward the potential-oriented expansion of international sales activities and keep on investing in further training for our qualified and committed employees,” said Dr Stadelmann.

Contact person:

RATIONAL Aktiengesellschaft

Stefan Arnold / Head of Investor Relations

Tel. +49 (0)8191 327-2209

Fax +49 (0)8191 327-72 2209

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 more than 1,500 people, around 850 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 the work done by RATIONAL’s employees year for year.


	2015	2014	Percentage change
Sales revenues (m EUR)	564.2	496.7	+14
EBIT (m EUR)	160.2	145.2	+10
Group earnings (m EUR)	121.8	110.1	+11
EPS (EUR)	10.71	9.68	+11

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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; Terminbörse EUREX