Corporate | 30 July 2014 07:00

RATIONAL AG on growth path

RATIONAL AG / Key word(s): Half Year Results

30.07.2014 / 07:00

Press release

RATIONAL AG on growth path

– Sales grow by 6 percent in the first six months

– Europe remains on growth course

– Forecast confirmed

Landsberg, 30 July 2014 Professional-kitchen specialist RATIONAL has posted sales of 223.2 million euros, which represents a growth of 6 percent in the first six months (2013: 210.8 million euros). “After the relatively slow start to the year, we increased sales by 15 percent in the second quarter. The good performance in the European market was especially welcomed”, says Dr Stadelmann, CEO of RATIONAL AG.

Europe remains on growth course
The established markets in Europe are continuing to perform well. The measures started in 2013 to increase sales activities are showing their effects. In Europe (excluding Germany) the company was able to grow sales by 16 percent. In Germany growth stood at 8 percent. “This is thanks both to the measures to boost sales in Europe and also to the performance of FRIMA. The VarioCookingCenter MULTIFICIENCY ^(R) table-top unit launched in January made a valuable contribution in this respect”, states Dr Stadelmann. FRIMA experienced a very good first six months, with growth of 23 percent.

Subdued overseas markets
Whereas regional ongoing business in the Americas and Asia is performing in line with expectations, project business with major partners and chain customers in these regions is down compared to last year. In addition, negative currency effects impacted on performance in the first six months. Sales in the Americas in the first six months were 32.2 million euros (2013: 35.6 million euros) and in Asia 25.4 million euros (2013: 30.8 million euros). In the second quarter the “Rest of the world” region experienced particularly strong growth of 52 percent. One reason for this is a sizeable chain order.

25 percent EBIT margin
Operating costs rose in the first six months to 80.2 million euros (2013: 73.6 million euros). RATIONAL concentrated its investments here in the fields of sales and marketing, along with research and development. As regards to other operating income and expenses, the company achieved a positive balance from the valuation of foreign currency receivables and liabilities to the amount of 2.3 million euros.

In the first six months the company’s EBIT (earnings before interest and taxes) was up by 10 percent to 55.8 million euros (2013: 50.6 million euros). The EBIT margin was
25 percent (2013: 24 percent).

RATIONAL keeps its promise to customers
With the launch of the SelfCookingCenter ^(R) 5 Senses this May, RATIONAL has succeeded in decisively further improving the interplay between chef and combi-steamer. Customers especially like the way the unit displays, what it is currently doing, and why it adjusts settings, in order to achieve the desired results. All owners of the predecessor SelfCookingCenter ^(R) whitefficiency ^(R) model can obtain a free software update to share in the latest developments in cooking research by RATIONAL. This is how the company keeps its promise to offer the customers maximum benefit throughout the life of the product.

Outlook confirmed
“Based on the positive forecasts for the performance of the global economy, and in particular because of our world-class products, enthusiastic customers, and current business trends, we can confirm our forecast for continued positive sales and earnings development in fiscal year 2014”, says Dr Stadelmann.

Contact person:
RATIONAL Aktiengesellschaft
Dr Peter Stadelmann
Tel. +49 8191 327-3309
Fax +49 8191 327-272
E-mail: p.stadelmann@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 1,400 people, nearly 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 MDAX.

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.

	HY 2014	HY 2013	Percentage change
Sales (in million EUR)	223.2	210.8	+6
EBIT (in million EUR)	55.8	50.6	+10
EBT (in million EUR)	55.5	50.3	+10
EPS (in EUR)	3.72	3.36	+11

30.07.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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:	s.arnold@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

279770  30.07.2014