Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — Rational — 9M 2023 Earnings Presentation
22 slides from Rational Aktiengesellschaft's earnings presentation, Nov 7, 2023
Slide 1: Earnings Call 9M 2023
When it tastes great, we all speak the same language. Earnings Call | 9M 2023 Landsberg am Lech, 7 November 2023
Slide 2: RATIONAL presents innovations to 800 partners from 39 countries
RATIONAL presents innovations to 800 partners from 39 countries 2
Slide 3: Our partners are the bridge to the customers worldwide
Our partners are the bridge to the customers worldwide Over 4,000 partners employing more than 20,000 staff members › Dealers have an existing local customer base, offer CookingLive events, have demonstration units in their showrooms, offer training centers and have units on stock. › Local service p
Slide 4: iCareSystem AutoDose
iCareSystem AutoDose Simple. Safe. Clean. Saves time and space and can also be controlled remotely Contributes to HACCP hygiene safety and increases work safety 50% less plastic waste compared to conventional cleaners 4
Slide 5: Leading also in digital solutions
Leading also in digital solutions 2011 2016 1973 2020 2000 2001 2002 2008 2017 2022 2024 Optional Ethernet Ethernet as Connection standard WiFi as standard
Slide 6: Product launch Digital Solutions
Product launch Digital Solutions Delivering added value for our cooking systems Hygiene Management Pro Resource Management ERP Interface Solutions Technical Service 6
Slide 7: RATIONAL introduces new product category
RATIONAL introduces new product category Next revolution after the combi-steamer and the iVario New product category that guarantees the shortest cooking times with the highest food quality. Intelligent and adaptive combination of the three technologies of steam, hot air and microwave on all levels
Slide 8: Meels, Markham, Canada
Meels Markham, Canada Meels mission: Providing chef-crafted, top- tier, nourishing food that takes care of you, customized to your schedule and lifestyle, so you can always be your best. 8
Slide 9: Figures. Facts. Data.
Figures. Facts. Data. 9M 2023 9
Slide 10: 1 billion euros in sales for the first time in the company's history
1 billion euros in sales for the first time in the company's history 2022 sales revenues increased by 31% to 1,022 m EUR +High single-digit Sales revenues in m EUR +31% +8% 1,022 +11% -23% +20% 844 778 780 702 650 2017 2018 2019 2020 2021 2022 2023e* 10 *Based on analysts’ estimates (as of October 2
Slide 11: Sales revenues up 14% after 9 months of 2023
Sales revenues up 14% after 9 months of 2023 Third quarter sales revenues on previous years level Sales revenues in m EUR +25% +20% -1% 265 282 290 278 274 272 225 232 2022 2023 2022 2023 2022 2023 2022 2023e* Q1 Q2 Q3 Q4 *Based on analyst’s estimates (as of October 2023) 11
Slide 12: Strong growth in overseas regions
Strong growth in overseas regions Flourishing street business in North America boosts growth North America +30% Germany Asia 195 -2% +22% 150 111 93 92 91 9M 2022 9M 2023 9M 2022 9M 2023 9M 2022 9M 2023 Europe +7% 342 318 Latin America Rest of the world +24% +11% 39 49 41 45 9M 2022 9M 2023 9M 2022
Slide 13: iCombi in strong demand
iCombi in strong demand iVario due to strong growth in 9M 2022 below previous year Sales revenues in m EUR +18% iCombi iVario 746 634 -11% 98 87 9M 2022 9M 2023 9M 2022 9M 2023 13
Slide 14: Delivery times back on pre-crisis level
Delivery times back on pre-crisis level 130 m EUR in the order book at the end of 9M 2023 Orders Sales revenues Order backlog ~130 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 Q2 Q3 2018 2019 2020 2021 2022 2023 14
Slide 15: EBIT grows over-proportionally
EBIT grows over-proportionally EBIT margin at 24% in 9M 2023 EBIT in m EUR +24% EBIT margin +12% -60% +22% 202 +108% 160 163 142 134 25% 26% 24% 23% 22% 64 14% 9M 2018 9M 2019 9M 2020 9M 2021 9M 2022 9M 2023 15
Slide 16: Strong gross margin and EBIT development
Strong gross margin and EBIT development EBIT margin at 24% in 9M 2023 9M 2023 vs. 9M 2022 9M 9M in mEUR 2023 2022 Change Margin Impact1 Strong sales support Sales revenues 833 732 +14% --- + margin development COGS -362 -335 +8% +2.3% Gross Profit 471 397 +19% --- Gross Margin 56.5% 54.3% --- +2.3%
Slide 17: Solid balance sheet provides security and flexibility
Solid balance sheet provides security and flexibility High equity ratio and liquidity in m EUR 9M 2022 FY 2022 9M 2023 29% Non-current assets 234 237 251 Inventories 101 116 114 13% 22% Trade receivables 163 175 165 Other assets 86 163 258 20% Liquid funds 252 208 128 Total assets 836 899 918 15% Eq
Slide 18: Investments
Investments Forward-looking investments thanks to solid financial situation Depreciation/amortisation Investments in m EUR 40 40 37 31 31 32 29 30 30 25 26 14 2018 2019 2020 2021 2022 2023e *The years 2019 and following include depreciation resulting from IFRS 16. 18
Slide 19: Employee satisfaction remains on high level
Employee satisfaction remains on high level More than 2,500 employees for the first time Number of employees 2,524 2,401 2,258 2,248 2,180 2,113 87% are proud to work at RATIONAL 6% Staff turnover in 9M 2023 4% Wage increase in 2023 +15% 2018 2019 2020 2021 2022 9M 2023 19
Slide 20: Sales revenue and profit outlook for 2023 confirmed
Sales revenue and profit outlook for 2023 confirmed Cautiously optimistic for the current fiscal year EBIT margin Sales growth Gross profit Operating costs expected at previous year's in the high single-digit could further benefit from rise slightly faster than level, possibly slightly percentage ra
Slide 21: RATIONAL
RATIONAL
Slide 22: Disclaimer
Disclaimer Diese Präsentation dient ausschließlich dem Zweck, die RATIONAL-Gruppe vorzustellen und einen kurzen Überblick zu geben. Die in ihr enthaltenen Informationen erheben keinen Anspruch auf Vollständigkeit und eignen sich nicht als Basis für unternehmerische Entscheidungen oder als Anlageempf