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DGAP-News: RATIONAL AG / Keywords: Semi-annual report / Semi-annual results

Rational AG: Half-year with highest sales – but cautious

03/08/2022 / 07:00

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Press release:

Rational AG: Half-year with highest sales – but cautious

* Q2 sales above pre-crisis levels despite material bottlenecks

at 232 million euros

* iVario resists supply difficulties and grows by 50 percent

* Sales positive due to after-sales, price increases and currency effects

under the influence

* Order acceptance and backlogs remain high

* 20% EBIT margin in H1 2022

* Award for Rational: Best Employer Brand and among 100

the most sustainable mid-sized companies

Landsberg am Lech, August 3, 2022 “After we had the absolute

we recorded the peak of monthly orders,

they are increasingly normalizing. But that doesn’t mean ours

Cooking systems are less attractive. On the contrary – there are orders

still at a satisfactory level, even after worldwide price adjustments

level ”, commented Rational AG CEO Dr. Peter

Stadelman, situation. Also in the second quarter it was picked up

Orders slightly above the number of devices sold. Therefore it has increased

The order backlog as at June 30, 2022 was approximately 400 million

Euro or about 44,000 devices at an exceptionally high level


232 million euros in sales revenues in the second quarter of 2022 – 458 million euros

in the first half of 2022 – the best quarter and the best six months since the inception

As in Q1 2022, Rational was also involved in Q2 2022.

low availability of control computers, the so-called CPU.

“The fact that, despite limiting factors, we achieved the highest quarterly i

Semi-annual sales shows in the history of the company

the resilience of our business model. especially cleaning agents,

Service parts and accessories have developed very well in the current financial year

dynamic, says CFO Jörg Walter.

From a regional point of view, the growth rates were sufficient compared to the former

In the first half of last year, from -9 percent. in Asia to +61 percent in Latin America.

Europe (excluding Germany) and Germany achieved better results than in the comparable period

a year earlier from 23 percent. and 28 percent In North America, they grew

Sales at a growth rate of 25 percent.

Sales by product group: iVario resists delivery difficulties i

grows by 50 percent

Both Rational Group product groups contributed to the growth.

In the iCombi product group, sales in the first half of 2022 amounted to 17

by EUR 395.1 million compared to the previous year (previous year: EUR 337.6 million). In

in the iVario product group, sales increased by 50 percent to a

a new record level of EUR 62.6 million (previous year: EUR 41.7 million). This

IVario’s potential is increasingly visible in all regions of the world. in

Year-over-year sales increased 39 percent year-on-year

increased. “Huge demand and positive feedback from our customers –

also in overseas regions powered from 2020 – confirm ours

long-term strategy. Like the previous combi steamer, the iVario will:

revolutionize professional kitchens, ”explains Dr. Stadelmann.

54 percent gross profit margin and 20 percent. EBIT margin in the first half of 2022

As a result of a noticeably disproportionate increase in sales

In terms of selling costs, Rational AG’s gross profit margin was in the top six

months of 2022 at the level of 54.0 percent. (previous year: 56.3%). Whilst huge

The costs of material supply and logistics are already increasing

are becoming more noticeable, the price increases of Rational’s cooking systems are having an impact

only late. Nevertheless, EBIT (earnings before

Income & Taxes) by 10 percent to 93.1 million euros. this

However, in these conditions, the EBIT margin fell and was in the first place

six months at the level of 20.3 percent. (previous year: 22.3%). They experienced some tailwind

EBIT margin in H1 2022 due to disproportionate sales

increase in operating expenses by EUR 156.0 million (previous year: EUR 131.1)

Million euros). Moreover, the currency result influenced EUR 0.9 million

(previous year: EUR 1.3 million) positive.

Rational invests in new employees and becomes an employer brand


At the end of the second quarter, Rational employed 2,341 people for the entire group

Employees (December 31, 2021: 2248) who work internally as

Entrepreneurs in the company (UiU) are understood. Of these, 1,345 are in

The Germans hired (12/31/2021: 1285). “The judge for the raises

we usually follow IG Metall’s development and outperform

this. We have salaries of our UiU employed in Germany

from 1 July 2022 by 5.1% and it will reflect development

continue to closely monitor inflation – informs the president.

“We are particularly pleased with our award

The employer’s brand “We combine the best!”, Which identifies us as modern, young

the company presents “- he adds.

RATIONAL as one of the most sustainable medium-sized companies


Rational creates resources with its energy-saving products

delicate, they offer safe and ergonomic workplaces and healthy food

brace yourself, thousands of decades of customer companies are more sustainable.

In addition, we strive to make self-esteem creation as sustainable as

possible and minimize the ecological footprint. This is like it

to us that WirtschaftsWoche published at the end of June

Number 26 Rational among the most sustainable companies in Germany

what matters is the middle class. In the ranking prepared in cooperation with

The consulting company Munich Strategy was established, we deal with

proud 32nd place.

forecast confirmed

“The further development of sales is now less market dependent and

procurement development. Rather, it depends on availability

Certain components, in particular electronic components. this

There are still significant threats that are difficult to overcome

forecast. Cost increases and supply bottlenecks as a result

The blockades in Shanghai and the crisis in Ukraine will continue to affect us indirectly

influences, ”predicts CFO Walter in the second half of the year

are the consequences of a possible gas rationing in Germany on

Difficult to evaluate suppliers and rational. On the other hand, the company sees

that sales price increases take effect, and in the second

the semester will be deleted.

Due to the development of sales in the first half of the year and expectations for

Rational confirms the forecast for 2022 for the remainder of the fiscal year

we assume a 10-15 percent increase in sales compared to the previous year

and EBIT margin slightly higher than in the previous year. Whether

these risks materialize more strongly than in the first seven

months, we expect lower sales growth and

EBIT margin lower than last year, ”notes Dr. Stadelmann

the current calendar year remains unchanged in perspective. In a friendlier way

environment with stable parts availability and positive effects

Price increase and currency exchange are the sales level on the higher end

Forecast or slightly above realistic. Because there is constant cost pressure

Rational calculates that in this scenario it will also have a negative impact on the EBIT margin

with an absolute EBIT in line with the original expectations.

Contact person:

Rational Corporation

Stefan Arnold / Head of Investor Relations

Telephone +49 (0) 8191 327-2209

Fax +49 (0) 8191 327-72 2209

E-mail: [email protected]

From the editorial office:

Rational Group is a world market and technology leader in the field

thermal food preparation in professional kitchens. Established in 1973

The company employs around 2,300 people, including over 1,300 people

Germany. Rational has been with Prime Standard since it was made public in 2000.

listed on the German stock exchange and currently included in the MDAX.

The main goal of the company is to give to its customers forever

offer maximum benefits. Rational feels the principle

Committed to sustainable development, which is expressed in

Corporate rules on environmental protection, leadership, occupational safety and

finds social responsibility. Numerous international awards

prove the high quality of Rational employees year by year

job done.

Numbers in millions of euros HJ HJ Change in

2022 2021 percent

Revenues 457.7 379.3 +21

Profit before tax 247.2 213.7 +16

Gross profit margin in percent 54.0 56.3 –

Profit before financial result and 93.1 84.4 +10

Taxes (EBIT)

EBIT margin in percent 20.3 22.3 –

Earnings after tax 70.9 64.2 +10

Earnings per share in euro 6.23 5.64 +10

Data in EUR million 2nd quarter 2nd quarter Change in

2022 2021 percent

Revenues 232.4 211.6 +10

Profit before tax 124.4 119.8 +4

Gross profit margin in percent 53.5 56.6 –

Profit before financial result and 45.4 52.2 -13

Taxes (EBIT)

EBIT margin in percent 19.5 24.7 –

Profit after tax 34.7 39.8 -13

Earnings per share in euro 3.05 3.50 -13

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08.03.2022 publication of corporate news / financial announcement,

provided by DGAP – EQS Group AG service.

The issuer / publisher is responsible for the content of the application.

DGAP’s distribution services include statutory reporting requirements,

Corporate / financial news and press releases.

Media archive at

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Siegfried-Meister-Strasse 1

86899 Landsberg am Lech


Phone: 0049 8191 327 2209

Fax: 0049 8191 327 722209

E-mail: [email protected]


ISIN: DE0007010803

WKN: 701080

Indices: MDAX

Exchanges: Regulated market in Frankfurt (Prime Standard);

Open market in Berlin, Düsseldorf, Munich, Stuttgart,


EQS message ID: 1411699

End of news DGAP news service

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1411699 03/08/2022


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