Rational Aktiengesellschaft · XETR:RAA
Rational Aktiengesellschaft — Rational — 9M 2025 Earnings Presentation
22 slides from Rational Aktiengesellschaft's earnings presentation, Nov 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. Earnings Call 9M 2025 Landsberg am Lech, 6 November 2025
Slide 2: Agenda
Agenda RATIONAL AG | 9M 2025 Earnings Call 03 Important 9M 2025 news Housekeeping 08 Figures. Facts. Data. All participants remain muted. 16 Outlook 2025 Please send questions to ir@rational-online.com 19 Appendix All questions will be answered after the presentation. A replay of the call will be di
Slide 3: Current situation of US tariffs
Current situation of US tariffs Limited effects in 2025 - Full year effect in 2026 Production sites What measures are in place? iCombi: Landsberg, Germany • Direct delivery to Canada iVario: Wittenheim, France • Local US sourcing (e.g. stands) Suppliers: More than 95% European • Group wide cost savi
Slide 4: Tottenham Stadium
Tottenham Stadium Watch Video UK
Slide 5: Tottenham Stadium iHexagon customer quote
„On an event day, we‘ll probably put about 4,500 to 5,000 products through the iHexagon. Before we used the iHexagon it took 20 to 25 minutes to produce what we do within the five and seven minutes now“ Mark Reynolds Regional Executive Chef | Levy 6 Nov. 2025 | RATIONAL AG | Earnings Call 9M 2025 5
Slide 6: iHexagon sustainability quote, Tottenham
„Using the iHexagon has definitely ticked a boxing for our sustainability targets. We did a rough calculation; we’re probably saving around 16,000 litres of oil over a season. Obviously, the energy use is a lot less and we have less wastage because we can cook more on demand than cooking so far in a
Slide 7: RATIONAL company restaurants are Green
RATIONAL company restaurants are „Green“ RATIONAL awarded the renowned GreenCanteen seal "Sustainability is not "Our technology helps to a trend for us, but part of our manage kitchens more corporate DNA. We are very sustainably – without pleased about the award, compromising on quality or because i
Slide 8: Figures. Facts. Data.
Figures. Facts. Data. 9M 2025
Slide 9: Strong sales performance in 9M 2025
Strong sales performance in 9M 2025 FX-neutral growth rate at 7 % +5% +5% +14% +25% 918 876 833 -24% 762 +26% 613 586 466 9M 2019 9M 2020 9M 2021 9M 2022 9M 2023 9M 2024 9M 2025 6 Nov. 2025 | RATIONAL AG | Earnings Call 9M 2025 9 Sales revenues in m EUR | Year-on-year sales growth
Slide 10: Growth rates increasing quarter-by-quarter
Growth rates increasing quarter-by-quarter FX-adjusted growth of 8-9 % in Q2 and Q3 +6% +5% +3% 311 312 318 286 295 295 294 2024 2025 2024 2025 2024 2025 2024 2025 Q1 Q2 Q3 Q4 6 Nov. 2025 | RATIONAL AG | Earnings Call 9M 2025 10 Sales revenues in m EUR | Year-on-year sales growth
Slide 11: Sales revenues by region
Sales revenues by region Americas and Europe spur growth Germany Asia +5% North America -12% +6% 91 95 114 101 211 224 9M 2024 9M 2025 9M 2024 9M 2025 Europe +10% 9M 2024 9M 2025 391 356 Rest of the world +2% Latin America 50 51 +5% 9M 2024 9M 2025 53 56 9M 2024 9M 2025 9M 2024 9M 2025 6 Nov. 2025 |
Slide 12: iVario continues growing disproportionally high
iVario continues growing disproportionally high iCombi up by 5% and iVario by 15 % in Q3 2025 iCombi +4% iVario 810 778 +11% 98 109 9M 2024 9M 2025 9M 2024 9M 2025 6 Nov. 2025 | RATIONAL AG | Earnings Call 9M 2025 12 Sales revenues in m EUR | Year-on-year sales growth
Slide 13: EBIT at 25.5% - within the expected range
EBIT at 25.5% - within the expected range 25.9% in Q3 2025 26.0% 25.9% 25.5% 24.2% 22.9% 22.3% +12% +3% 13.8% +24% 234 227 -60% +22% 202 +108% 160 163 134 64 9M 2019 9M 2020 9M 2021 9M 2022 9M 2023 9M 2024 9M 2025 6 Nov. 2025 | RATIONAL AG | Earnings Call 9M 2025 13 EBIT in m EUR EBIT margin
Slide 14: High profitability in 9M 2025
High profitability in 9M 2025 Healthy sales revenues – increasing COGS due to tariffs 9M 9M 9M 2025 vs. 9M 2024 1) in m EUR 2024 2025 Change Margin Impact Sales revenues 875 918 +5% --- + Sales growth in line with COGS -359 -379 +5% -20bps expectations Gross Profit 516 539 +4% Gross Margin 58.9% 58.
Slide 15: Solid balance sheet provides security and flexibility
Solid balance sheet provides security and flexibility High equity ratio and liquidity in m EUR 30.09.20241 31.12.2024 30.09.2025 Key balance sheet KPIs Non-current assets 288 292 281 Inventories 110 108 123 +7% Growth in total assets Trade receivables 177 181 176 compared to 9M 2024 Other assets 349
Slide 16: 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%. After Q1 percentage range. year. sal
Slide 17: RATIONAL
RATIONAL
Slide 18: Appendix
Appendix 17 Appendix 18 Statement of Comprehensive Income 19 Cash Flow Statement 22 Disclaimer 6 Nov. 2025 | RATIONAL AG | Earnings Call 9M 2025 18
Slide 19: Statement of Comprehensive Income RATIONAL Group
Statement of Comprehensive Income RATIONAL Group 1 January to 30 September | in thousands of euros Q3 2024 Q3 2025 YoY % 9M 2024 9M 2025 YoY % Sales revenues 294.236 311.992 +6% 875.482 918.227 +5% Cost of Sales -120.568 -130.653 +8% -359.492 -379.113 +5% Gross profit 173.668 181.339 +4% 515.990 539
Slide 20: Cashflow statement RATIONAL Group (1/2)
Cashflow statement RATIONAL Group (1/2) 1 January to 30 September | in thousands of euros Q3 2024 Q3 2025 YoY 9M 2024 9M 2025 YoY Earnings before taxes 81.022 82.677 1.655 235.120 240.904 5.784 Depreciation and amortisation 9.624 9.584 -40 27.328 28.668 1.340 Other -2.231 2.458 4.689 -259 -526 -267
Slide 21: Cashflow statement RATIONAL Group (2/2)
Cashflow statement RATIONAL Group (2/2) 1 January to 30 September | in thousands of euros Q3 2024 Q3 2025 YoY 9M 2024 9M 2025 YoY Capital expenditures in intangible assets and PP&E -5.149 -7.941 -2.792 -22.086 -17.068 5.018 Proceed from asset disposals 11 21 10 77 22 -55 Change in fixed deposits -83
Slide 22: 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