Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — Rational — Q1 2020 Earnings Presentation
18 slides from Rational Aktiengesellschaft's earnings presentation, May 6, 2020
Slide 1: Conference Call – Q1 2020
Conference Call – Q1 2020 Landsberg am Lech, 6 May 2020
Slide 2: Important KPIs for Q1 2020
Important KPIs for Q1 2020 Overview -7 % Sales revenue decrease -30% Order intake decrease Gross profit EBIT margin 56% 14% margin Equity New 79% employees 52 ratio Operating -22 7.5 Capex Cashflow mEuro mEuro Landsberg am Lech, 6 May 2020 2
Slide 3: Q1 2020 characterised by the Corona crisis
Q1 2020 characterised by the Corona crisis 7 % Sales revenue decline 844 778 702 613 564 497 194 181 +15% +8 % +14 % +9 % +15% +11 % +8 % +11 % +12 % -7 % 2014 2015 2016 2017 2018 2019 Q1 2019 Q1 2020 Sales revenue in mEuro Sales revenue growth in % Landsberg am Lech, 6 May 2020 3
Slide 4: Nearly all regions affected by the crisis
Q1 2020 characterised by the Corona crisis Nearly all regions affected by the crisis Germany (-14 %) North America 12% (-9 %) 18% 47% Europe (-3 %) 13% Asia (-13 %) (excluding Germany) Latin America 5% (-3 %) Sales revenues in % of total Rest of the world 5% (Sales revenue growth in %) (+2 %) Landsb
Slide 5: Declining growth rates Combis, Vario still growing
Q1 2020 characterized by the Corona crisis Declining growth rates Combis, Vario still growing Sales revenues Combi-Steamer Sales revenues VarioCookingCenter® - 8% 179 164 +8 % 16 17 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Sales revenue in mEUR Sales revenue growth in % Landsberg am Lech, 6 May 2020 5
Slide 6: EBIT margin declines in Q1 2020
EBIT margin declines in Q1 2020 EBIT margin at 14% +13 % +8 % +9 % +14 % +13 +10 % % +4 % 145 160 167 189 205 223 47 26 m€ 29 % 28 % 27 % -44 % 27 % 26 % 26 % 24 % 14 % 2014 2015 2016 2017 2018 2019 Q1 2019 Q1 2020 Change in % EBIT margin in % Landsberg am Lech, 6 May 2020 6
Slide 7: One-off costs in Q1
One-off costs in Q1 Higher costs due to the following effects 1. COVID-19 › Alleviate potential restrictions in the supply chain and ensure availability of all components › Therefore necessary: Overtime hours, higher logistics costs, higher material prices, increased inventory levels 2. Preparation
Slide 8: Solid balance sheet is a decisive advantage in the crisis
Solid balance sheet is a decisive advantage in the crisis 230 mEUR net financial position Q1 2020 Q1 2019 Non-current assets 209 185 Inventories 84 63 Trade receivables 117 125 Other assets 116 102 Liquid funds 154 169 Total assets 680 644 Equity 534 491 Non-current liabilities 35 35 Current provisi
Slide 9: Reduced dividend for FY 2019
Reduced dividend for FY 2019 Focus on securing liquidity Earnings per share 13,84 15,09 1. Due to the worldwide Corona crisis 11,18 12,58 9,68 10,71 reduction of the proposed dividend for fiscal year 2019 from 10.70 to 5.70 euros per 2,20 share 2,00 9,50 8,80 2. General Meeting on 6th May 2020 cance
Slide 10: What may we expect in the future?
What may we expect in the future? Landsberg am Lech, 6 May 2020 10
Slide 11: Our customers worldwide
Our customers worldwide Establishments with over 20 meals per service ~45% Restaurants with service ~40% Mass Catering ~5% ~10% Restaurants without service Retail Graphic refers to the number of sold appliances Landsberg am Lech, 6 May 2020 11
Slide 12: Q1 2020: Measures due to the Corona crisis
Q1 2020: Measures due to the Corona crisis RATIONAL reliable - even and especially in the crisis! 1. Customers: Sales teams are available / products can be ordered / easier payment terms/ online cooking live events 2. Ability to deliver: Ensuring the supply chain / subcontracted parts procured from
Slide 13: Forecast fiscal year 2020 not possible
Forecast fiscal year 2020 not possible 1. The last forecast of March 10, 2020 was withdrawn as no forecast was possible then. 2. Order intakes has collapsed since beginning/mid of March. 3. Significant drop of sales revenues and earnings expected in Q2. 4. We expect the situation in the affected mar
Slide 14: Success potential intact after the Corona virus
Success potential intact after the Corona virus 1. Major free market potential 2. Leader in terms of benefit and technology 3. Global customer proximity 4. High level of customer satisfaction and repurchase rates 5. Customers forced to rationalize even more 6. ConnectedCooking 7. And …… Landsberg am
Slide 15: The iCombi Pro
The iCombi Pro The new „Gold Standard“ in the kitchen Exact results. High productivity. Optimal planning. Effective cleaning. Landsberg am Lech, 6 May 2020 15
Slide 16: The greatest „Innovation Journey“ ever
The greatest „Innovation Journey“ ever R&D › 10,000 3D models and 3,500 new drawings › 17,000 GB of 3D data, 2D data and simulations › 811,370 hours of R&D work › 937 functional tests during the last three years Durability › 193 durability tests within three years › 23,000 days or 63 years test time
Slide 17: The greatest „Innovation Journey“ ever
The greatest „Innovation Journey“ ever Lets’ go, the greatest “Innovation Journey” starts. With the most intelligent cooking system of all times › 06 May 2020: Launch of the new, intelligent, productive iCombi Pro › 12 May 2020: MORE! › 19 May 2020: MORE! › 26 May 2020: MORE! › 16 June 2020: MORE! ›
Slide 18: RATIONAL
RATIONAL