Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — Rational — Q1 2025 Earnings Presentation
33 slides from Rational Aktiengesellschaft's earnings presentation, May 6, 2025
Slide 1: 25 years of success on the stock exchange
25 years of success on the stock exchange. . Thanks to Innovation and stability. IR Presentation Q1 2025 Landsberg am Lech, 6 May 2025
Slide 2: iCombi Pro
iCombi Pro The combi-steamer with intelligent cooking paths Reliable desired result. High productivity. Optimal planning. Effective cleaning.
Slide 3: iVario Pro
iVario Pro The multifunctional cooking system with contact heat Reliable results. Intelligent heating technology. Intelligent heating zone management.
Slide 4: ConnectedCooking
ConnectedCooking Digital kitchen management by RATIONAL Distribute cooking programs | Update unit software | Document HACCP data Make everything easier. No matter where your cooking systems are.
Slide 5: A tried and tested team
A tried and tested team For 90% of all cooking processes in professional kitchens
Slide 6: First-class services
For greater customer benefit First-class services Expert Starter RATIONAL Connected ChefLine ® advice Training Academy Cooking
Slide 7: RATIONAL Technical Service
Always at the customer‘s service RATIONAL Technical Service Original Certified service Professional Global service service parts partners installation network
Slide 8: iHexagon
iHexagon Beginning of a New Era Steam, convection heat and microwave energy are intelligently coordinated. On all six racks.
Slide 9: Products and services
Products and services Revenue breakdown - Equipment revenue is supplemented by recurring non-equipment revenue Aftersales business Accessories, service parts, cleaners, and services 31% iCombi 59% Worldwide sales of combi-steamers 10% iVario Worldwide sales of multifunctional cooking systems Based o
Slide 10: RATIONAL
32 3 Production Culinary expertise Subsidiaries sites and experience of 1,000+ Successful since 1973 Local presence in 600 chefs 120 countries Patents RATIONAL More than 4,000 partners worldwide
Slide 11: Our customers worldwide
Our customers worldwide Establishments with over 20 meals per service 40% 40% Restaurants with service Community Catering 7% 13% Restaurants * without service Retail Graphic refers to the number of sold appliances
Slide 12: Above-average customer satisfaction
Above-average customer satisfaction RATIONAL holds the very strong NPS score in the “Best in Class” segment Net Promoter Score 2024 RATIONAL AG +60 -80 -60 -40 -20 0 +20 +40 +60 +80 Best in Class Ø-NPS of companies surveyed in the areas: Source: B2B International in 14 markets (2024)
Slide 13: High untapped market potential for both product groups
High untapped market potential for both product groups Aiming to substitute traditional equipment in professional kitchens 12% iCombi 13% Competitors 2% iVario 2% Competitors 75% Traditional appliances 4.8 million addressable kitchens for iCombi 96% Traditional appliances 1.6 million addressable kit
Slide 14: Market leader RATIONAL
Market leader RATIONAL Around 50% global market share in both product groups There are ~20 million professional kitchens worldwide ~100 worldwide competitors for combi-steamer cooking systems: Ali Group, Unox, Electrolux, Hoshizaki, ITW, Alto-Shaam, MKN, Middleby …. ~50 worldwide competitors for iVa
Slide 15: RATIONAL employees are entrepreneurs within the company (U.i.U.)
RATIONAL employees are entrepreneurs within the company (U.i.U.) Performance. Responsibility. Decisions. 2,736 2,554 2,401 U.i.U. Compass 2024: 2,258 2,248 2,113 2,180 All in all, very satisfied or 90% satisfied with RATIONAL as employer Are proud to work at 88% RATIONAL Inflation premium for 1,000€
Slide 16: Sustainability as an integral part of our business model
Sustainability as an integral part of our business model Healthy nutrition. Efficiency. Occupational safety. Long-term partner “Many companies focus their activities on Safe Satisfied rapid growth and maximising short-term workspace customers profit, and structure their organisations accordingly. At
Slide 17: The RATIONAL strategy
The RATIONAL strategy Maximum customer benefit as our primary corporate aim "In this day and age, a company has a Focus Specialisation right to exist when it fulfils its task and on large and in thermal that task is to offer benefit to the commercial food customer. The quality of this benefit Maximu
Slide 18: Greater customer benefit
Higher Cost profits degression Greater customer benefit Higher productivity Greater Customer attraction benefit Increased demand Positive learning curve Growth
Slide 19: RATIONAL - a good investment for customers and investors
RATIONAL - a good investment for customers and investors Close to our customers – close to a basic human need Customer benefit as a … leads to attractive sales … and economic strength. driver… opportunities … Market and technology leader Presence in > 120 countries 9% CAGR (12 years)* Very high repu
Slide 20: Good financial performance as a result
Good financial performance as a result Facts. Figures. Data.
Slide 21: Strong sales performance in 2024
Strong sales performance in 2024 Sales revenues increased by 6% to 1,194 million euros in 2024 +6% +10% +31% 1,194 1,126 -23% 1,022 +20% 844 780 650 2019 2020 2021 2022 2023 2024 6 May 2025 | RATIONAL AG | IR Presentation Q1 2025 21 Sales revenues in m EUR | Year-on-year sales growth
Slide 22: Sales revenues by quarter
Sales revenues by quarter Q1 2025 – Return to normal seasonality expected +3% 318 286 295 295 294 2024 2025 2024 2025 2024 2025 2024 2025 Q1 Q2 Q3 Q4 6 May 2025 | RATIONAL AG | IR Presentation Q1 2025 22 Sales revenues in m EUR | Year-on-year sales growth
Slide 23: Sales revenues by region
Sales revenues by region Americas and Europe spur growth North America +11% Germany Asia 69 +2% -20% 62 42 30 30 34 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Europe +7% 129 120 Latin America Rest of the World +1% +4% 15 15 18 18 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 6 May 2025 | RATI
Slide 24: Sales revenues by product group
Sales revenues by product group iVario with higher growth than iCombi iCombi iVario +2% 256 262 +10% 31 34 Q1 2024 Q1 2025 Q1 2024 Q1 2025 6 May 2025 | RATIONAL AG | IR Presentation Q1 2025 24 Sales revenues in m EUR | Year-on-year sales growth
Slide 25: Strong EBIT performance
Strong EBIT performance EBIT margin stabilises on pre-crisis level +7% +1% +39% 71 72 67 +48% +24% 48 32 26 23.5% 24.8% 24.4% 21.2% 19.2% 14.3% Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 6 May 2025 | RATIONAL AG | IR Presentation Q1 2025 25 EBIT in m EUR EBIT margin
Slide 26: High profitability in Q1 2025
High profitability in Q1 2025 Healthy sales revenue performance and favourable COGS Q1 Q1 2024 vs. 2025 in m EUR 2024 2025 Change Margin Impact Sales revenues 286 295 +3% --- COGS -119 -121 +1% +70 bps + Sales at a good level for Q1 Gross Profit 167 175 +4% +70 bps Gross Margin 58.5% 59.2% --- +70 b
Slide 27: Solid balance sheet provides security and flexibility
Solid balance sheet provides security and flexibility High equity ratio and liquidity in m EUR 31.03.20241 31.12.2024 31.03.2025 Key balance sheet KPIs Non-current assets 287 292 287 +9% Growth in total assets Inventories 109 108 114 Trade receivables 179 181 186 Other assets 358 373 384 45% Liquidi
Slide 28: Investments
Investments Future-oriented investments thanks to solid financial position 40 37 37 35 33 32 31 30 31 29 25 26 2019 2020 2021 2022 2023 2024 6 May 2025 | RATIONAL AG | IR Presentation Q1 2025 28 Depreciation/amortisation (incl. IFRS16) Investments in m EUR
Slide 29: Dividend 2024
Dividend 2024 Dividend of 15.00 euros per share proposed 22.03 18.82 16.33 15.00 € Dividend per share proposed 15.09 15.00 10.88 2.50 13.50 68 % Total payout ratio 11.00 7.04 2.50 7.50 5.70 1,8 % Dividend yield2 4.80 1 2019 2020 2021 2022 2023 2024 1The previous year’s comparative figures have been
Slide 30: Sales revenue and profit outlook for 2025
Sales revenue and profit outlook for 2025 Cautiously optimistic – despite challenging economical environment Sales growth Gross profit margin Operating costs EBIT margin in the mid single-digit slightly lower than previous rise slightly faster than at around 26%. percentage range. year. sales revenu
Slide 31: The RATIONAL investment story
The RATIONAL investment story RATIONAL – Opportunities and strengths profile Opportunities Strengths › Rising energy, rent and › Technologically leading cooking personnel costs systems, market leading networking solutions › Increasing shortage of › High brand awareness and skilled workers customer l
Slide 32: Investor relations contact and financial calendar
Investor relations contact Financial calendar Company information Calendar 2025 RATIONAL AG 27.03.2025 Financial Figures Fiscal Year 2024 (Munich/virtual) Siegfried-Meister-Straße 1 06.05.2025 Financial Figures Q1 2025 (virtual) 86899 Landsberg am Lech 14.05.2025 General Shareholders‘ Meeting 2024 (
Slide 33: 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