RATIONAL AG / Key word(s): Quarter Results
10.11.2011 07:45
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Report pursuant to § 15 WpHG
- Ad-hoc report -
RATIONAL AG
RATIONAL AG: On course for further growth - successful market launch of the
SelfCookingCenter(R) whitefficiency(R)
- Sales up by 12 percent
- EBIT margin 25 percent
- Forecast confirmed
Landsberg, November 10, 2011. In the first nine months of 2011, RATIONAL
succeeded in boosting its sales by 12 percent to 272.7 million euros
(previous year 244.0 million euros). Development in the third quarter was
influenced by the launch of the new SelfCookingCenter(R) whitefficiency(R)
in Europe. While new orders grew by 16 percent, the production ramp-up
curve meant that revenue rose by just 7 percent from 86.4 million euros in
the previous year to 92.4 million euros. The new product is being launched
in overseas markets during the fourth quarter. The production ramp-up curve
has now been completed successfully, which will enable a return to normal
delivery times in the fourth quarter.
Revenue in the first nine months rose by 33 percent in Asia, 14 percent in
America and 17 percent in the 'Rest of the world'. Weaker growth of
6 percent and 8 percent in Germany and the rest of Europe respectively is
primarily due to the ongoing market launch of the SelfCookingCenter(R)
whitefficiency(R) and the impact of the modifications this entailed, as
described above.
Gross earnings up by 9 percent
After nine months, gross profit grew by 9 percent to 164.0 million euros
(previous year 150.1 million euros). The gross margin stands at 60 percent
after nine months (previous year 62 percent). The phasing out of the old
product lines and the phasing in of the new caused gross profit to suffer
in the third quarter; at 54.2 million euros, there has been no significant
change compared to the previous year (54.6 million euros). The gross margin
stands at 59 percent in the third quarter (previous year 63 percent).
25 percent EBIT margin
Operating costs rose both in the first nine months and in the third quarter
by 16 percent compared to the previous year. The launch of the
SelfCookingCenter(R) whitefficiency(R) meant that sales and marketing costs
in particular were higher in the third quarter.
After nine months, EBIT (earnings before interest and taxes) stands at
68.8 million euros on previous year's level (69.2 million euros). In the
third quarter, EBIT is at 23.2 million euros, a 10 percent decline compared
to the same quarter of the previous year (25.9 million euros) due to
increased costs. The EBIT margin stands at 25 percent both after nine
months and in the third quarter.
Growth expectation for 2011 confirmed
Once again, uncertainty is mounting with regard to global economic
development. Despite this, the economic forecast is positive overall,
albeit with a downward trend. Given the successful launch of the
SelfCookingCenter(R) whitefficiency(R) and the positive order development
in the first nine months, the RATIONAL Managing Board is confident that the
forecast sales growth of 10 percent for 2011 will be achieved. For the
operating result too, the expectation is that the trend will be positive.
Contact:
RATIONAL Aktiengesellschaft
Dr. Günter Blaschke
Tel. +49 (0)8191) 327-364
Fax +49 (0)8191) 327-272
E-Mail: g.blaschke@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 about 1,200 people, of which about 700 are in Germany. Since the
IPO in 2000 RATIONAL was floated in the Prime Standard on the German stock
market and is currently listed on the MDAX.
The company's principal objective is to offer customers maximum benefit.
Internally RATIONAL is committed to the principle of sustainability,
expressed in its policies on environmental protection, leadership and
social responsibility. Numerous international awards bear witness year on
year to the high level of RATIONAL's work.
|[![CDATA[|[pre|]]]|]
Q3 2011 Q3 2010 Change in %
Sales (in m EUR) 92.4 86.4 +7
EBIT (in m EUR) 23.2 25.9 -10
EBT (in m EUR) 23.3 25.8 -10
EPS (in EUR) 1.56 1.71 -9
|[![CDATA[|[/pre|]]]|]
|[![CDATA[|[pre|]]]|]
9M 2011 9M 2010 Change in %
Sales (in m EUR) 272.7 244.0 +12
EBIT (in m EUR) 68.8 69.2 -1
EBT (in m EUR) 69.1 68.9 +/-0
EPS (in EUR) 4.59 4.54 +1
|[![CDATA[|[/pre|]]]|]
10.11.2011 DGAP's 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 StraÃe 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 Announcement DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: RATIONAL AG: On course for further growth - successful market launch of the SelfCookingCenter(R) whitefficiency(R)
| Source: EQS Group AG