22.03.2016
RATIONAL AG DE0007010803
DGAP-News: RATIONAL AG continues to grow successfully worldwide
DGAP-News: RATIONAL AG / Key word(s): Final Results
RATIONAL AG continues to grow successfully worldwide
22.03.2016 / 09:15
The issuer is solely responsible for the content of this announcement.
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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--------------------------------------------------------------------------- 22.03.2016 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: [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 End of News DGAP News Service --------------------------------------------------------------------------- 442963 22.03.2016
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