Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — Rational — Q1 2022 Earnings Presentation
18 slides from Rational Aktiengesellschaft's earnings presentation, 2022
Slide 1: Earnings Call Q1 2022
Fast. Precise. Versatile. Consistently enhanced. Earnings Call Q1 2022
Slide 2: Agenda
Agenda 1. Customer and company stories 2. Current situation in Q1 2022 3. Outlook on Fiscal Year 2022 4. Q&A Session 2
Slide 3: Start your day right with Benny's Breakfast Bar
Start your day right with Benny's Breakfast Bar… …with 90% to 95% of the food being prepared by iCombi and iVario. Quote: “If we took out all the RATIONALs and we went back to standard ovens, my business would probably be cut in half easily. … It just made everything we do that much better”. Kevin Y
Slide 4: Restaurante Martín Berasategui de Lasarte-Oria, Spain
Restaurante Martín Berasategui de Lasarte-Oria Lasarte-Oria, Spain Quote: “From RATIONAL onwards, everything has been a way forward for me and my team; it has charged our batteries, it has been a triple leap as our kitchens work much better now”. Martín Berasategui Michelin Star Chef, Restaurante Ma
Slide 5: Sales revenues near all-time high in Q1 2022
Sales revenues near all-time high in Q1 2022 Sales grow by 34% to 225 mEUR in the first three months +34% 225 231 205 212 213 207 194 194 168 2019 2021 2022 2019 2021 2019 2021 2019 2021 Q1 Q2 Q3 Q4 Sales revenues in mEUR Sales revenues growth in % 5
Slide 6: Order backlog increased once again
380 mEUR or 43.000 units in order backlog end of Q1. Order backlog increased once again ~ 380 mEUR › Around 380 mEUR or 43,000 units in order backlog end of March 2022. › Delivery times in the industry unchanged on extraordinary high level. › Impact of second price increase as of April 2022. ~55 mEU
Slide 7: Overall supply chain issues stay the main challenge in 2022
Overall supply chain issues stay the main challenge in 2022 Long-term supplier partnerships as an advantage › The global supply of chips is newly affected by Chinese lockdowns and the war in Ukraine. › CPU volumes in Q2 2022 are likely to be lower than expected due to delays at Tier 2 suppliers. › A
Slide 8: Targeted recruitment ensures long-term corporate success
Targeted recruitment ensures long-term corporate success Headcount above pre-crisis level › After keeping the qualified and 2,258 2,248 2,304 motivated team during the crisis, we 2,180 2,113 further invest in strategic important 1,884 positions. › We also hire new sales people as we are increasing r
Slide 9: Continuity in the Executive Board
Continuity in the Executive Board Supervisory Board extends contracts of the CEO and CTO › Dr Peter Stadelmann appointed CEO for another five years. › Contract with Peter Wiedemann (CTO) extended until retirement at the end of 2024. › Contracts of Markus Paschmann (CSO) and Jörg Walter (CFO) were ex
Slide 10: Q1 2022 – sales revenue by region
Q1 2022– sales revenue by region All regions on or above 2019 sales level Europe 103 North America 88 Asia 39 72 36 27 29 30 31 +26% +1% Q1 2019 Q1 2021 Q1 2022 Q1 2019 Q1 2021 Q1 2022 +43% Q1 2019 Q1 2021 Q1 2022 Latin America Germany Rest of the world 32 25 10 10 19 9 12 7 9 +41% +70% +27% Q1 2019
Slide 11: iVario continues growth story with +69% in sales in Q1 2022
iVario continues growth story with +69% in sales in Q1 2022 Both product groups were in strong demand. Sales revenues iCombi Sales revenues iVario 195 179 150 +69% 30 +30% 16 18 Q1 2019 Q1 2021 Q1 2022 Q1 2019 Q1 2021 Q1 2022 Sales revenues in mEUR Sales revenue growth in % 11
Slide 12: 2 percentage points EBIT margin improvement in Q1 2022
2 percentage points EBIT margin improvement in Q1 2022 OPEX increase under-proportional compared to Sales Q1 2022 vs. Q1 2021 › COGS: Higher component and raw in mEUR Q1 2022 Q1 2021 Change Margin Impact1 material prices. Sales revenues 225 168 +34% --- COGS -102 -74 +39% -1,5% › Sales and Service:
Slide 13: EBIT margin further stabilising
EBIT margin further stabilising EBIT margin at 21% in Q1 2022 +48% +37% +24% +14% 44 41 47 26 32 48 -7% -44% 27% 24% 24% 14% 19% 21% Q1 2017 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 EBIT in mEUR EBIT margin in % EBIT growth in % 13
Slide 14: Solid Balance Sheet provides security and flexibility
Solid Balance Sheet provides security and flexibility High equity ratio and liquidity in mEUR Q1 2022 Q1 2021 Non-current assets 222 215 Inventories 102 79 Trade receivables 145 101 Other assets 98 44 Liquid funds 251 251 Total assets 818 690 Equity 640 558 Non-current liabilities 35 32 Current prov
Slide 15: Why we will stay successful
Why we will stay successful Crises are creating new opportunities – we will benefit from them. › Enormous free market potential for the iCombi (3.6 million kitchens) and the iVario (1.5 million kitchens) will ensure constant demand in the coming years. › The growing shortage of skilled workers in th
Slide 16: Outlook 2022
Outlook 2022 Growth path expected to continue despite overall challenges. › We expect sales to grow by 10 to 15% compared to previous year’s sales. › Gross margin is expected to be at a level similar to that of 2021. › With operating costs rising slightly more slowly than revenues RATIONAL expects a
Slide 17: Please send your questions to ir@rational-online.com
Please send your questions to ir@rational-online.com
Slide 18: 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