Rational AG
SWB:RAA
Rational AG
Rational AG, founded in 1973, has carved a unique niche within the culinary world by revolutionizing the art and science of cooking. The company is a global leader in the production of advanced cooking appliances, most notably the combi-steamer oven, which combines steam and convection heat to create a versatile and efficient kitchen tool. This innovation simplifies the cooking processes in professional kitchens around the world by replacing multiple traditional ovens with a single, multifunctional device. By focusing on technology and precision in culinary solutions, Rational enables chefs to achieve consistent, high-quality results, thereby setting new standards in kitchen efficiency and food quality.
Rational AG thrives by continually investing in innovative technology and maintaining close relationships with its clients. It operates with a keen understanding of the needs of professional kitchens, from small restaurants to large institutional catering. Earnings are driven largely by the sale of its advanced cooking units, complemented by a robust after-sales service offering, which includes training, support, and replacement parts. This dual approach ensures a steady revenue stream, creating lasting value for their customers by reducing waste, optimizing cooking processes, and training chefs to leverage the full capabilities of their equipment. Rational’s business model emphasizes sustainability and customer satisfaction, which has been pivotal in sustaining its reputation as a leader in the professional cooking appliance industry.
Rational AG, founded in 1973, has carved a unique niche within the culinary world by revolutionizing the art and science of cooking. The company is a global leader in the production of advanced cooking appliances, most notably the combi-steamer oven, which combines steam and convection heat to create a versatile and efficient kitchen tool. This innovation simplifies the cooking processes in professional kitchens around the world by replacing multiple traditional ovens with a single, multifunctional device. By focusing on technology and precision in culinary solutions, Rational enables chefs to achieve consistent, high-quality results, thereby setting new standards in kitchen efficiency and food quality.
Rational AG thrives by continually investing in innovative technology and maintaining close relationships with its clients. It operates with a keen understanding of the needs of professional kitchens, from small restaurants to large institutional catering. Earnings are driven largely by the sale of its advanced cooking units, complemented by a robust after-sales service offering, which includes training, support, and replacement parts. This dual approach ensures a steady revenue stream, creating lasting value for their customers by reducing waste, optimizing cooking processes, and training chefs to leverage the full capabilities of their equipment. Rational’s business model emphasizes sustainability and customer satisfaction, which has been pivotal in sustaining its reputation as a leader in the professional cooking appliance industry.
Sales Growth: RATIONAL reported Q1 2025 sales of EUR 295 million, up 3% year-over-year, in line with guidance.
Margins: EBIT margin for Q1 stood at 24.4%, supported by a higher gross margin of 59.2%. Full-year EBIT margin guidance remains at 26%.
Regional Performance: North America sales rose 11% in Q1, Europe ex-Germany up 7%, while Asia saw declines due to prior-year one-off orders.
Tariff Impact: A 10% US tariff now affects about 20% of sales. Management does not see major supply chain or demand disruption so far and has not raised prices yet.
Cost Increases: Operating costs rose 10% in Q1, with R&D costs up over 20% as the company invests in digitization and product innovation.
China Expansion: New factory in China is on schedule for production by end 2025 and sales start in Q1 2026.
Seasonality: Management sees a return to pre-pandemic seasonal sales patterns confirmed by April results.
