Rational AG: Preliminary figures for the 2022 fiscal year exceed forecast for sales revenue and profit

Rational AG / keyword(s): preliminary figures
Landsberg am Lech, 12 January 2023

• Sales revenues expected to exceed the one billion euros for the first time at 1.022 billion euros
• Sales revenue grows by 242 million euros, 31 percent over the previous year
• EBIT at approximately 235 million euros with around 23 percent EBIT margin expected
• Sales revenues and EBIT above the increased forecast from September

Landsberg am Lech, 12 January 2023     According to preliminary calculations, the Rational Group generated sales revenues of 290 million euros in the fourth quarter of 2022, setting a new record for the fourth quarter in a row. The fourth quarter of 2022 saw growth of 50 percent.

The reasons for this positive development were full order books due to the positive business trend combined with sufficient supplies of electronic components to reduce the high order backlog in the second half of the year. In addition, intensive customer support, the leading products from a customer’s point of view and Rational’s broadly diversified services portfolio contributed to this development.

The result is a new record in Group sales revenues of 1.022 billion euros, which represents a year-on-year increase of 31 percent (2021: 780 million euros). Consolidated sales revenues and the growth rate for the Landsberg-based professional kitchen supplier thus exceeded the forecast raised in September. In addition to the increase in sales volume and the successful after-sales business, sales-revenue-boosting currency and price increase effects also contributed to the extremely positive business development. Nearly all regional markets developed very positively. The American markets deserve particular mention, with disproportionately high growth rates of almost 60 percent. Asia was on a par with the previous year due to the special situation in China.

Both product groups of the Rational Group contributed to growth. In the iCombi product group, sales revenues growth of 28 percent compared to the previous year is expected due to good parts availability in the second half of the year. Sales growth in the iVario product group is particularly encouraging. Here, Rational expects growth of 57 percent.

The high growth in sales revenues combined with disproportionately low cost increases will lead to a record EBIT expected to come in at approximately 235 million euros (2021: 160 million euros). Accordingly, the EBIT margin for the 2022 fiscal year was around 23 percent and exceeded the upper threshold from the forecast.

The company will provide detailed information on the 2022 fiscal year, including the proposed dividend and the forecast for the 2023 fiscal year, with the publication of its annual report on 28 March 2023.

Contact:

Rational Aktiengesellschaft

Stefan Arnold / Head of Investor Relations
Tel. +49 (0)8191 327-2209
Fax +49 (0)8191 327-72 2209

E-mail: ir@rational-online.com
www.rational-online.com

Editorial note:

The Rational Group is the global market and technology leader for thermal preparation of food in professional kitchens. Founded in 1973, the company employs around 2,300 people, over 1,300 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. Rational is committed to the principle of sustainability, which is expressed in its corporate 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.

1533965  12-Jan-2023 CET/CEST