Rational AG
SWB:RAA

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Rational AG Logo
Rational AG
SWB:RAA
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Price: 665.5 EUR 0.53% Market Closed
Market Cap: 7.6B EUR

Rational AG
Investor Relations

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.

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Last Earnings Call
Fiscal Period
Q1 2025
Call Date
May 6, 2025
AI Summary
Q1 2025

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.

Key Financials
Sales Revenue
EUR 295 million
Sales Revenue (Full Year 2024)
EUR 1.194 billion
Sales Growth North America
11%
Sales Growth Europe (excluding Germany)
7%
Sales Growth Germany
2%
iVario Sales Growth
10%
iVario Sales Growth Americas
around 35%
iCombi Sales Growth
2%
EBIT
EUR 72 million
EBIT Margin
24.4%
Gross Margin
59.2%
Operating Costs
EUR 105 million
R&D Costs Growth
over 20%
Equity Ratio
82%
Liquidity Ratio
45%
Non-Equipment Share of Group Sales
32%
Non-Equipment Business Sales Growth
around 5%
Headcount Increase
4.6% YoY and sequentially in Q1
Tax Rate
24%
CapEx Plans
EUR 40 million for 2025
Earnings Call Recording
Other Earnings Calls
2025
2023

Management

Dr. Peter Stadelmann
Chairman of Executive Board & CEO
No Bio Available
Mr. Peter Wiedemann
COO & Member of Executive Board
No Bio Available
Mr. Markus Paschmann
Chief Sales & Marketing Officer and Member of Executive Board
No Bio Available
Dr. Ing Martin Hermann
Chief Technology Officer & Member of Executive Board
No Bio Available
Mr. Stefan Arnold C.F.A.
Head of Investor Relations
No Bio Available
Mr. Simon Lohse
Executive Vice President of Area North America
No Bio Available
Rune Are
Chief Financial Officer for RATIONAL North America
No Bio Available

Contacts

Address
BAYERN
Landsberg am Lech
Siegfried-Meister-Strasse 1
Contacts