DGAP-News

RATIONAL AG on growth path

DGAP-News: RATIONAL AG / Key word(s): Half Year Results
RATIONAL AG on growth path

30.07.2014 / 07:00

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Press release

RATIONAL AG on growth path

- Sales grow by 6 percent in the first six months

- Europe remains on growth course

- Forecast confirmed

Landsberg, 30 July 2014 Professional-kitchen specialist RATIONAL has
posted sales of 223.2 million euros, which represents a growth of 6 percent
in the first six months (2013: 210.8 million euros). "After the relatively
slow start to the year, we increased sales by 15 percent in the second
quarter. The good performance in the European market was especially
welcomed", says Dr Stadelmann, CEO of RATIONAL AG.

Europe remains on growth course

The established markets in Europe are continuing to perform well. The
measures started in 2013 to increase sales activities are showing their
effects. In Europe (excluding Germany) the company was able to grow sales
by 16 percent. In Germany growth stood at 8 percent. "This is thanks both
to the measures to boost sales in Europe and also to the performance of
FRIMA. The VarioCookingCenter MULTIFICIENCY(R) table-top unit launched in
January made a valuable contribution in this respect", states
Dr Stadelmann. FRIMA experienced a very good first six months, with growth
of 23 percent.

Subdued overseas markets

Whereas regional ongoing business in the Americas and Asia is performing in
line with expectations, project business with major partners and chain
customers in these regions is down compared to last year. In addition,
negative currency effects impacted on performance in the first six months.
Sales in the Americas in the first six months were 32.2 million euros
(2013: 35.6 million euros) and in Asia 25.4 million euros (2013: 30.8
million euros). In the second quarter the "Rest of the world" region
experienced particularly strong growth of 52 percent. One reason for
this is a sizeable chain order.

25 percent EBIT margin

Operating costs rose in the first six months to 80.2 million euros (2013:
73.6 million euros). RATIONAL concentrated its investments here in the
fields of sales and marketing, along with research and development. As
regards to other operating income and expenses, the company achieved a
positive balance from the valuation of foreign currency receivables and
liabilities to the amount of 2.3 million euros.

In the first six months the company's EBIT (earnings before interest and
taxes) was up by 10 percent to 55.8 million euros (2013: 50.6 million