Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — Rational — Q1 2024 Earnings Presentation
22 slides from Rational Aktiengesellschaft's earnings presentation, May 2, 2024
Slide 1: Earnings Call Q1 2024
50 years of RATIONAL 50 years of innovations 50 years of customer benefit Earnings Call Q1 2024 Landsberg am Lech, 2 May 2024
Slide 2: Agenda
Agenda RATIONAL Q1 2024 Earnings Call 03 Highlights of the first Quarter 2024 06 Figures. Facts. Data. 16 Outlook 2024 17 Appendix 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 2
Slide 3: Highlights of the first Quarter 2024
Highlights of the first Quarter 2024 Great success at trade fairs Intergastra & Internorga 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 3
Slide 4: iHexagon booth at Internorga
iHexagon booth at Internorga Focused sales process allows highest customer benefit 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 4
Slide 5: RATIONAL iCare System AutoDose wins Future Award
RATIONAL iCare System AutoDose wins the prestigious “Future Award” at Internorga. 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 5
Slide 6: Figures. Facts. Data.
Figures. Facts. Data. Q1 2024 6
Slide 7: Strong sales performance in 2023
Strong sales performance in 2023 Revenue increased by 10% to EUR 1,126 million in 2023 +10% +31% 1,126 +8% 1,022 -23% +20% 844 778 780 650 2018 2019 2020 2021 2022 2023 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 7 Sales revenues in m EUR | Year-on-year sales growth
Slide 8: Sales revenues by quarter
Sales revenues by quarter Q1 2024 sales revenues at previous years level +25% +1% 286 290 293 282 278 274 272 225 232 2022 2023 2024 2022 2023 2022 2023 2022 2023 Q1 Q2 Q3 Q4 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 8 Sales revenues in m EUR | Year-on-year sales growth
Slide 9: Order intake remains on very high level
Order intake remains on very high level Order backlog stable at around 120 m EUR at the end of Q1 2024 ~120 m EUR ~70 m EUR Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2020 2021 2022 2023 2024 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 9 Orders Sales revenues Order back
Slide 10: iVario back in growth mode, iCombi defends high prior-year figure
iVario back in growth mode iCombi defends high prior-year figure iCombi iVario +30% +1% 254 256 195 -4% +7% 30 29 31 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 10 Sales revenues in m EUR | Year-on-year sales growth
Slide 11: Strong growth in overseas regions
Strong growth in overseas regions North America and Asia driving growth North America +13% Asia +41% Germany +18% +10% -17% +21% 62 55 39 36 36 42 32 30 30 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Europe +21% -3% 124 120 103 Latin America Rest of the World +41% +1% +51
Slide 12: EBIT grows faster than sales revenues
EBIT grows faster than sales revenues EBIT margin increases by 1.3 percentage points in Q1 2024 +7% +39% 71 67 +48% -44% 47 48 +24% 32 24.8% 24.0% 23.5% 26 21.2% 19.2% 14.3% Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 12 EBIT in m EUR EBIT margin
Slide 13: High profitability in Q1 2024
High profitability in Q1 2024 Healthy sales revenue performance and favourable cost development Q1 Q1 Q1 2024 vs Q1 2023 in m EUR 2023 2024 Change Margin Impact Sales revenues 282 286 +1% --- Sales revenues remain on COGS -125 -119 -5% +280 bps + high level Gross Profit 157 167 +6% Gross Margin 55.7
Slide 14: Solid balance sheet provides security and flexibility
Solid balance sheet provides security and flexibility High equity ratio and liquidity in m EUR 31.03.2023 31.12.2023 31.03.2024 Key balance sheet KPIs: Non-current assets 244 265 265 +8% Growth in total assets Inventories 117 107 109 Trade receivables 175 172 179 42% Liquidity ratio1 Other assets 23
Slide 15: Dividend 2023
Dividend 2023 Dividend of 13.50 Euro proposed 18.98 13.50 € Dividend per Share 16.33 15.09 13.84 71% Total payout ratio 10.88 2.50 13.50 11.00 9.50 7.04 2.50 7.50 1.9% Dividend yield* 5.70 4.80 *Based on the year-end closing price 2023 2018 2019 2020 2021 2022 2023 2 May 2024 | RATIONAL AG | Earning
Slide 16: Sales revenue and profit outlook for 2024 confirmed
Sales revenue and profit outlook for 2024 confirmed Optimistic for the current fiscal year Sales growth Gross profit Operating costs EBIT margin in the mid to high single- benefits from better cost rise slightly faster than near previous year expected digit percentage range. situation. sales revenue
Slide 17: Appendix
Appendix 18 Appendix 19 Statement of Comprehensive Income 20 Cash Flow Statement 22 Disclaimer 2 May 2024 | RATIONAL AG | Earnings Call Q1 2024 17
Slide 18: Statement of Comprehensive Income RATIONAL Group
Statement of Comprehensive Income RATIONAL Group 1 January to 31 March | in thousands of euros Q1 2023 Q1 2024 YoY % Sales revenues 282,449 286,425 1% Cost of Sales -125,139 -118,947 -5% Gross profit 157,310 167,478 6% Sales and service expenses -63,752 -66,323 4% Research and development expenses -
Slide 19: Cashflow statement RATIONAL Group (1/2)
Cashflow statement RATIONAL Group (1/2) 1 January to 31 March | in thousands of euros Q1 2023 Q1 2024 YoY Earnings before taxes 67,144 73,837 6,693 Depreciation and amortisation 7,869 8,456 587 Other 1,683 2,375 692 Net interest -869 -2,756 -1,887 Changes in Inventories -1,497 -2,683 -1,186 Trade ac
Slide 20: Cashflow statement RATIONAL Group (2/2)
Cashflow statement RATIONAL Group (2/2) 1 January to 31 March | in thousands of euros Q1 2023 Q1 2024 YoY Capital expenditures in intangible assets and PP&E -6,865 -6,245 620 Proceed from asset disposals 4 31 27 Change in fixed deposits -105,081 -63,755 41,326 Interest received 641 1,860 1.219 Cash
Slide 21: Disclaimer
Disclaimer This presentation serves the single purpose of introducing the RATIONAL Group and providing a brief overview. The information contained is not intended to be exhaustive and does not provide a basis for corporate decisions or serve as investment advice. We assume no warranty, guarantee or
Slide 22: RATIONAL
RATIONAL