03.08.2016
RATIONAL AG DE0007010803
DGAP-News: RATIONAL AG continues to grow successfully worldwide
DGAP-News: RATIONAL AG / Key word(s): Half Year Results
RATIONAL AG continues to grow successfully worldwide
03.08.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Press release
RATIONAL AG continues to grow successfully worldwide
- 9 percent sales revenues growth (currency-adjusted 11 percent)
- 26 percent EBIT margin (currency-adjusted 27 percent)
- Outlook confirmed
Landsberg am Lech, 3 August 2016 RATIONAL AG increased its sales revenues
by 9 percent in the second quarter of the current fiscal year, thus
continuing the growth that began in the first quarter. The result was an
increase in sales revenues in the first six months of 2016 also of
9 percent to a total of 283.1 million euros. The commercial kitchen
supplier's sales revenues were negatively impacted by the weakness of the
pound sterling and of currencies in emerging countries. However, the
resulting effect was less in the second quarter. After exchange rate
adjustments, the increase in sales revenues was around 11 percent compared
to the first six months of 2015.
Europe and America as growth drivers
The home market of Germany grew by 14 percent due to further market
penetration and greater use of the combi-steamer by new customer groups, as
well as the positive development of FRIMA. Sales revenues in the rest of
Europe increased by 11 percent after exchange rate adjustments, in
particular thanks to a slight recovery in the Russian market and a very
good business performance by FRIMA in France. The Americas Region saw an
increase in sales revenues of 19 percent after exchange rate adjustments,
with our important market of the USA delivering an impressive rise of
18 percent. In particular, field business with small customers was again
very successful there. After six months, sales revenues in the Asia region
were up just 3 percent compared to the previous year. One of the reasons
was a base effect in the first half of 2015, when China in particular
boasted strong growth rates. Sales revenues in the "Rest of the world"
region were down slightly in the first half of 2016, recording a
year-on-year decline of 1 percent.
Positive development for both segments
In the first half of 2016, the RATIONAL segment increased its sales
revenues by 7 percent or by 10 percent after adjustment to reflect negative
currency effects.
The FRIMA segment grew sharply in the first half of 2016 by 27 percent.
Currency effects played a minor role at FRIMA because its business focuses
on Europe.
Currency-adjusted EBIT margin of 27 percent
Gross profit in the first six months of 2016 increased in proportion to
sales by 9 percent to 175.5 million euros. The gross margin of 62 percent
was at the high level of the previous year. Operating costs also rose in
line with sales revenues by 9 percent compared to the first half of 2015,
to 100.1 million euros (previous year: 91.5 million euros). After exchange
rate adjustments, the increase was 11 percent. This is mainly due to an
increase of 11 percent in sales and service expenses as a result of global
expansion of the sales and service organisation.
EBIT (earnings before interest and taxes) stood at 73.6 million euros, at
the level of the previous year (73.9 million euros). The six-month EBIT
margin was 26 percent (previous year: 28 percent). Translation effects on
foreign currency positions in other operating expenses and income had a
negative impact on the EBIT after six months, following a significant
positive impact in the previous year. That was due in particular to the
decline of the pound sterling against the euro. "Adjusted for this
measurement effect, we generated an EBIT margin of 27 percent in both the
first half of 2016 and 2015. Our company's operating efficiency therefore
remains high," explains Dr Axel Kaufmann, CFO of RATIONAL AG.
95 new jobs created in the first half of 2016
The total number of employees in the Group rose from 1,530 to 1,625 in the
first six months of the current fiscal year. Around half of the new jobs
were created in Germany.
Growth to date expected to continue
"The large majority of our customers is so satisfied with the products and
services that they would be happy to purchase them again at any time and
also recommend them to friends and colleagues. This has once again been
confirmed by a TNS Infratest survey conducted in six countries," says Dr
Peter Stadelmann, Chief Executive Officer of RATIONAL AG. Given that, the
still very high market potential and the all in all solid forecasts for the
global economy, the Executive Board of RATIONAL AG believes the company is
well placed to keep on growing as in the past years.
"In view of the development in the sales regions to date, we confirm the
growth outlook for fiscal year 2016 given in the Annual Report 2015,"
states Dr Stadelmann.
Contact:
RATIONAL Aktiengesellschaft
Stefan Arnold / Head of Investor Relations
Tel. +49 (0)8191 327-2209
Fax +49 (0)8191 327-722209
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 around 1,600 people, about 900 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 RATIONAL's work
year on year.
Q2 2016 Q2 2015 Change in percent Sales (m EUR) 147.4 135.8 +9 EBIT (m EUR) 41.4 38.9 +6 EBIT-Margin (percent) 28.1 28.7 - FX-adjusted EBIT (m EUR) 1) 40.6 40.2 +1 FX-adjusted EBIT- 27.5 29.6 - Margin (percent) Net income (m EUR) 31.7 29.5 +7 EPS (EUR) 2.78 2.60 +7 HY 2016 HY 2015 Change in percent Sales (m EUR) 283.1 260.5 +9 EBIT (m EUR) 73.6 73.9 -0 EBIT-Margin (percent) 26.0 28.4 - FX-adjusted EBIT (m EUR) 1) 75.4 69.3 +9 FX-adjusted EBIT- 26.6 26.6 - Margin (percent) Net income (m EUR) 56.1 56.1 +0 EPS (EUR) 4.94 4.93 +01) Adjusted for the currency result from the revaluation of FX balance sheet positions included in other operating income and expenses --------------------------------------------------------------------------- 03.08.2016 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. Archive at 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, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 488339 03.08.2016
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
RATIONAL AG ISIN: DE0007010803 können Sie bei EQS abrufen
Spezialmaschinenbau , 701080 , RAA , XETR:RAA